American Association Of Drilling Engineers
- Assets
- $199.5k
- Revenue
- $176.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 75-2771049
Organization Overview
American Association Of Drilling Engineers is located in Midland, TX. The organization was established in 2004. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. American Association Of Drilling Engineers 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 12/2022, American Association Of Drilling Engineers generated $176.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $233.5k during the year ending 12/2022. While expenses have increased by 10.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A FORUM FOR DISSEMINATION OF PRACTICAL DRILLING TECHNOLOGY TO THOSE EMPLOYED OR INTERESTED IN THE DRILLING INDUSTRY. TO BE A LEADING FORUM FOR THE DISSEMINATION AND INTERCHANGE OF DRILLING PRACTICES AND TECHNOLOGY. TO PROMOTE PROFESSIONALISM AND RESPECT WITHIN THE DRILLING INDUSTRY, THE COMMUNITY, AND THE ENVIRONMENT IN WHICH IT CO-EXISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTHLY MEETINGS TO EXPOSE MEMBERS TO THE LATEST TECHNOLOGY IN THE OIL AND GAS DRILLING INDUSTRY. EACH MEETING FEATURED A GUEST SPEAKER.
SPONSORSHIP OF TEXAS TECH UNIV CAMPUS CHAPTER COSTS
SCHOLARSHIPS AWARDED TO STUDENTS IN ENGINEERING TO PROMOTE INDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Sperry 1st VP | Officer | 4 | $0 |
Gerrit Bennis 2nd VP | Officer | 4 | $0 |
Alexis Rice Secretary | Officer | 4 | $0 |
Ryan Maynard Program Chair | Officer | 4 | $0 |
Scott Williams Past President | Officer | 4 | $0 |
Janie Snelson Past President | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,600 |
| 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 | $20,600 |
| Total Program Service Revenue | $89,928 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $65,753 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $176,281 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $98,421 |
| Grants and other assistance to domestic individuals. | $28,000 |
| 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 | $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 | $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 | $417 |
| Total functional expenses | $233,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,517 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $199,517 |
| 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 | $0 |
| 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 | $199,517 |
| Total liabilities and net assets/fund balances | $199,517 |
Grants Awarded
Over the last fiscal year, American Association Of Drilling Engineers has awarded $98,421 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NEW MEXICO TECH PURPOSE: ENGINEERING STUDENT CHAPTER SUPPORT | $20,413 |
TEXAS TECH UNIVERSITY PURPOSE: ENGINEERING STUDENT CHAPTER SUPPORT | $63,143 |
UN OF TX PERMIAN BASIN PURPOSE: ENGINEERING STUDENT CHAPTER SUPPORT | $14,865 |