Permian Basin Petroleum Association Inc
- Assets
- $2.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Midland, TX
- Founding
- 12/1985
- Data as of
- 12/2021
- EIN
- 75-1085465
Organization Overview
Permian Basin Petroleum Association Inc is located in Midland, TX. The organization was established in 1985. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Permian Basin Petroleum Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permian Basin Petroleum Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Permian Basin Petroleum Association Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INFORM MEMBERS, AS WELL AS THE GENERAL PUBLIC, OF CURRENT EVENTS AND DEVELOPMENTS PERTAINING TO THE OIL AND GAS INDUSTRY IN THE PERMIAN BASIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
N/A
MEMBER ADVOCACY AND MEMBER INDUSTRY SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Shepperd President | OfficerTrustee | 40 | $266,200 |
Kyle Mcgraw Immed Past Chairman | OfficerTrustee | 2 | $0 |
Scott Kidwell Chairman | OfficerTrustee | 2 | $0 |
Mark Dingler Area Vice President | OfficerTrustee | 2 | $0 |
Matt Mathis Area Vice President | OfficerTrustee | 2 | $0 |
Jeff Sparks Area Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,450,801 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,450,801 |
| Total Program Service Revenue | $0 |
| Investment income | $467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $95,756 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,547,524 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $716,914 |
| Pension plan accruals and contributions | $123,575 |
| Other employee benefits | $0 |
| Payroll taxes | $43,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $156,254 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,356 |
| Insurance | $0 |
| All other expenses | $79,857 |
| Total functional expenses | $1,472,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,520,997 |
| Savings and temporary cash investments | $655,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,626 |
| Net Land, buildings, and equipment | $21,210 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,224,248 |
| Accounts payable and accrued expenses | $28,754 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $940,057 |
| Total liabilities | $968,811 |
| Net assets without donor restrictions | $1,255,437 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,224,248 |