Montana Petroleum Association Inc
- Assets
- $572.4k
- Revenue
- $425.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Helena, MT
- Founding
- 07/1999
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Montana Petroleum Association Inc generated $425.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $390.1k during the year ending 12/2023. While expenses have increased by 0.4% per year over the past 8 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
2023
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 | $121,262 |
Jr Reger Director | Trustee | 0 | $0 |
Kent Beers Director | Trustee | 0 | $0 |
Greg Brown Director | Trustee | 0 | $0 |
Mac Mcdermott Director | Trustee | 0 | $0 |
Lou Brewer 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 | $284,347 |
| Investment income | $13,856 |
| 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 | $425,540 |
| 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. | $126,101 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,533 |
| Pension plan accruals and contributions | $5,088 |
| Other employee benefits | $16,222 |
| Payroll taxes | $15,105 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $160 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,750 |
| Advertising and promotion | $0 |
| Office expenses | $5,536 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,895 |
| Travel | $25,446 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,677 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,928 |
| Insurance | $1,717 |
| All other expenses | $0 |
| Total functional expenses | $390,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,723 |
| Savings and temporary cash investments | $458,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,060 |
| 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 | $108,407 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $572,385 |
| Accounts payable and accrued expenses | $29,797 |
| Grants payable | $0 |
| Deferred revenue | $1,074 |
| 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 | $30,871 |
| Net assets without donor restrictions | $541,514 |
| 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 | $572,385 |