Permiam Basin Chapter Of The American Petroleum Institute
- Assets
- $370.1k
- Revenue
- $54.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 05/1978
- Data as of
- 12/2021
- EIN
- 75-1588661
Organization Overview
Permiam Basin Chapter Of The American Petroleum Institute is located in Midland, TX. The organization was established in 1978. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permiam Basin Chapter Of The American Petroleum Institute 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, Permiam Basin Chapter Of The American Petroleum Institute generated $54.3k 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 (7.2%) each year. All expenses for the organization totaled $75.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.1%) 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
AMERICAN PETROLEUM INSTITUTE CHAPTERS ARE FORMED BY MEMBERS OF LOCAL INDUSTRY DESIRING TO PROMOTE FELLOWSHIP, COMMUNICATIONS, AND IMPROVEMENT OF MEMBERS THROUGH THE EXCHANGE OF INFORMATION ON INDUSTRY ISSUES, TECHNOLOGY, AND OPERATIONAL EXPERIENCE. PERMIAN BASIN CHAPTER API CONDUCTS A GOLF TOURNAMENT AND A TEAM ROPING EVENT ANNUALLY TO RAISE MONEY TO FUND SCHOLARHIPS AWARDED TO DESERVING STUDENTS PURSUING DEGREES WITHIN THE INDUSTRY. DURING 2021, THE TEAM ROPING EVENT WAS NOT HELD DUE TO CONTINUING AFFECTS ATTRIBUTED TO THE COVID-19 PANDEMIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWENTY-SEVEN SCHOLARSHIPS WERE AWARDED TO STUDENTS FOR HIGHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janie Snelson Vice President | OfficerTrustee | 1 | $0 |
Connie Calobreves Treasurer | OfficerTrustee | 1 | $0 |
Kathy Carpenter Secretary | OfficerTrustee | 1 | $0 |
Trey Garmon 2nd Vice Pres | OfficerTrustee | 1 | $0 |
Bobby Smith President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $6,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $48,062 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $56,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,350 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $75,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,649 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $279,411 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $370,060 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $370,060 |
| 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 | $370,060 |
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