Society Of Petroleum Engineers Spe Inc

Organization Overview

Society Of Petroleum Engineers Spe Inc is located in Richardson, TX. The organization was established in 1985. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 03/2023, Society Of Petroleum Engineers Spe Inc employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Petroleum Engineers Spe Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 03/2022, Society Of Petroleum Engineers Spe Inc generated $33.5m 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 (7.3%) each year. All expenses for the organization totaled $31.0m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (9.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE SOCIETY OF PETROLEUM ENGINEERS (SPE) IS A NOT-FOR-PROFIT PROFESSIONAL ASSOCIATION WHOSE MEMBERS ARE ENGAGED IN ENERGY RESOURCES DEVELOPMENT AND PRODUCTION. SPE SERVES APPROXIMATELY 119,100 MEMBERS IN 138 COUNTRIES WORLDWIDE. SPE IS A KEY RESOURCE FOR TECHNICAL KNOWLEDGE RELATED TO THE OIL AND GAS EXPLORATION AND PRODUCTION INDUSTRY AND PROVIDES SERVICES THROUGH ITS PUBLICATIONS, EVENTS, TRAINING COURSES AND ONLINE RESOURCES AT WWW.SPE.ORG.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEETINGS, CONFERENCES, WORKSHOPS, FORUM SERIES, TRAINING COURSES, AND SYMPOSIUMS - SPE'S MEETING STRATEGY IS TO DELIVER HIGH QUALITY MEETINGS AND EVENTS FOR THE BENEFIT OF SPE MEMBERS, AND THE PUBLIC. MEETINGS CAN BE HELD IN VARIOUS FORMATS SUCH AS CONFERENCES, WORKSHOPS, SYMPOSIA, SUMMITS, FORUMS, TRAINING, TECH TALKS, AND WEBINARS. SPE MANAGES 90-100 EVENTS A YEAR. THE EVENTS RELATE TO TECHNICAL TOPICS BROUGHT FORWARD BY MEMBERS OF SPE THAT ARE RELATED TO THE EXPLORATION AND DEVELOPMENT OF OIL AND GAS.


ASSOCIATED STAFF COSTS, MANAGEMENT FEE INCOME, IT INFRASTRUCTURE COSTS AND MISC. REVENUE IN SUPPORT OF THE MAJOR PROGRAMS OF SPE.


PUBLICATIONS - MAGAZINES, ONEPETRO, AND TECHNICAL JOURNALS - PROVIDES JOURNALS AND WEBSITE ACCESS FOR THE SOCIETY'S PUBLICATIONS, WEBSITES, ONLINE CONTENT REPOSITORIES AND TOOLS IN ORDER TO MAINTAIN AND STIMULATE EFFECTIVE KNOWLEDGE CAPTURE, DISSEMINATION AND ARCHIVING OF SPE'S CONTENT FOR ITS MEMBERS, AND THE PUBLIC. AVENUES OF DELIVERING THE TECHNICAL CONTENT INCLUDE SPE RESEARCH PORTALS (ONEPETRO AND PETROWIKI), SERIAL PUBLICATIONS SUCH AS THE JOURNAL OF PETROLEUM TECHNOLOGY, PEER-REVIEWED JOURNALS, SPE BOOKS AND SPE'S DEFINITIONS AND GUIDELINES.


MEMBER PROGRAMS, INCLUDING U.S. SECTIONS AND STUDENT CHAPTERS - SPE MEMBER PROGRAMS INCLUDE BENEFITS AND ACTIVITIES FOR SPE MEMBERS. SPE DELIVERS TO ITS MEMBERS VARIOUS PROGRAMS THROUGH SECTIONS AND STUDENT CHAPTERS. SPE PROVIDES THE FUNDING FOR THE DISTINGUISHED LECTURER PROGRAM THAT ALLOWS SECTIONS TO INVITE UP TO 2 DISTINGUISHED LECTURERS TO THEIR MEETINGS EACH YEAR. THE DISTINGUISHED LECTURER IS A SPE VOLUNTEER WHO IS A TECHNICAL EXPERT IN HIS/HER GIVEN AREA OF OIL AND GAS. SPE COVERS ALL TRAVEL COSTS RELATED TO THE TRAVEL FOR THE DISTINGUISHED LECTURER TO THE SECTION. SPE PRODUCES PROGRAMS FOR ITS STUDENTS AND YOUNG PROFESSIONAL MEMBERS. ACTIVITIES SUCH AS STUDENT PAPER CONTESTS, PETRO BOWL, VIRTUAL CAREER PATHWAY AND LEADERSHIP ALLIANCE PROGRAMS ARE JUST A FEW OF THE PROGRAMS OFFERED TO YOUNG PROFESSIONAL AS WELL AS STUDENT MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Freeman Audio Visual Solutions
Audio Visual Equipment At Atce And Other
$1,375,300
The San Luis Resort
Catering And Conference Room Rental
$545,255
Levy Premium Foodservices Llc
Catering
$411,962
Silverchair
Hosting Platform Services - One Petro
$315,926
Hilton Americas - Houston
Conference Center And Catering
$303,367
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$2,375,365
Government grants $5,050,800
All other contributions, gifts, grants, and similar amounts not included above$1,215,678
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,641,843
Total Program Service Revenue$19,037,792
Investment income $511,449
Tax Exempt Bond Proceeds $0
Royalties $231,171
Net Rental Income $33,837
Net Gain/Loss on Asset Sales $2,357,993
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$223,300
Miscellaneous Revenue$0
Total Revenue $33,510,702

Peer Organizations

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Society Of Petroleum Engineers Spe Inc
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$33,510,702
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