Montana Petroleum Association Inc
- Assets
- $583.8k
- Revenue
- $368.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Helena, MT
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 81-0525334
Organization Overview
Montana Petroleum Association Inc is located in Helena, MT. The organization was established in 1999. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Montana Petroleum Association Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montana 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, Montana Petroleum Association Inc generated $368.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $344.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) 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 MAINTAIN A POSITIVE BUSINESS CLIMATE FOR THE PETROLEUM INDUSTRY IN MONTANA AND TO FOSTER PUBLIC AWARENESS OF THE INDUSTRYS CONTRIBUTIONS TO THE STATE AND NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CONDUCTED SERVICES FOR THE PURPOSE OF PROMOTING THE EXPLORATION, REFINING, PRODUCTION, TRANSPORTATION, AND CONSERVATION OF OIL AND NATURAL GAS IN MONTANA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Olson Executive Dir. | Officer | 40 | $111,586 |
Mac Mcdermott President | OfficerTrustee | 1 | $0 |
Steve Durrett V.P. Upstream | OfficerTrustee | 1 | $0 |
Danette Welsh Treasurer | OfficerTrustee | 1 | $0 |
David Linn V.P. Downstream | OfficerTrustee | 1 | $0 |
Hj Reed Director | Trustee | 0 | $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 | $256,734 |
| Investment income | $1,228 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $368,033 |
| 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. | $116,593 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,005 |
| Pension plan accruals and contributions | $4,607 |
| Other employee benefits | $19,952 |
| Payroll taxes | $13,257 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $1,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,474 |
| Advertising and promotion | $0 |
| Office expenses | $8,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,973 |
| Travel | $14,917 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58,496 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,464 |
| Insurance | $1,603 |
| All other expenses | $0 |
| Total functional expenses | $344,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,948 |
| Savings and temporary cash investments | $463,094 |
| 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 | $118,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $583,785 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $81,028 |
| 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 | $81,028 |
| Net assets without donor restrictions | $502,757 |
| 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 | $583,785 |
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