Permian Strategic Partnership Inc
- Assets
- $22.2m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Midland, TX
- Founding
- 02/2019
- Data as of
- 12/2022
- EIN
- 83-0931988
Organization Overview
Permian Strategic Partnership Inc is located in Midland, TX. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Permian Strategic Partnership Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Permian Strategic Partnership 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 12/2022, Permian Strategic Partnership Inc generated $6.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $5.9m during the year ending 12/2022. 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 STRENGTHEN AND IMPROVE THE QUALITY OF LIFE FOR PERMIAN BASIN RESIDENTS BY PARTNERING WITH LOCAL LEADERS TO DEVELOP AND IMPLEMENT STRATEGIC PLANS THAT FOSTER SUPERIOR SCHOOLS, SAFER ROADS, QUALITY HEALTHCARE, AFFORDABLE HOUSING AND A TRAINED WORKFORCE. THE COMPANIES INVOLVED WITH THE PSP WILL BRING PEOPLE, EXPERTISE, RESOURCES AND LEADERSHIP TO DEVELOP SOLUTIONS IN PARTNERSHIP WITH LOCAL LEADERS AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERMIAN STRATEGIC PARTNERSHIP PROVIDES MANAGEMENT SERVICES TOWARDS THE INITIATIVES OF ITS MEMBERS. THE MEMBERS CONTRIBUTE TO PERMIAN STRATEGIC PARTNERSHIP, AND THE ORGANIZATION THEN DIRECTS THE FUNDS TOWARDS MEMBERS' INITIATIVES.
PERMIAN STRATEGIC PARTNERSHIP PROVIDES MANAGEMENT SERVICES TOWARDS THE INITIATIVES OF ITS MEMBERS. THE MEMBERS CONTRIBUTE TO PERMIAN STRATEGIC PARTNERSHIP AND THE ORGANIZATION THEN DIRECTS THE FUNDS TOWARDS THE MEMBERS' INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Evans Executive Chairman | OfficerTrustee | 40 | $998,542 |
Tracee Bentley Ceo/president | OfficerTrustee | 40 | $982,917 |
Mark Berg Vice Chairman | OfficerTrustee | 1 | $0 |
Jack Harper Treasurer | OfficerTrustee | 1 | $0 |
Tim Leach Executive Committee | Trustee | 1 | $0 |
Travis Stice Executive Committee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Petroskills Llc Consulting & Licensing | 12/30/22 | $216,500 |
Richmond Advisory Roads & Transportation | 12/30/22 | $137,031 |
Susan Spratlen Consulting | 12/30/22 | $118,800 |
Dingmore Company Llc Project Development And Strategic Planni | 12/30/22 | $112,676 |
Pmd Re Consulting Services Llc Master Planning And Broadband | 12/30/22 | $109,220 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,123,214 |
| 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 | $6,123,214 |
| Total Program Service Revenue | $0 |
| Investment income | $57,443 |
| 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 | $6,185,241 |
| 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. | $2,035,040 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $475,346 |
| Pension plan accruals and contributions | $20,821 |
| Other employee benefits | $67,320 |
| Payroll taxes | $82,778 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $750 |
| Fees for services: Accounting | $45,297 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,027,932 |
| Advertising and promotion | $5,862 |
| Office expenses | $149,431 |
| Information technology | $24,598 |
| Royalties | $0 |
| Occupancy | $85,552 |
| Travel | $39,649 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,634 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,106 |
| Insurance | $14,762 |
| All other expenses | $3,243 |
| Total functional expenses | $5,902,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,538,094 |
| Savings and temporary cash investments | $2,341,654 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,894,116 |
| 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 | $35,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $380,170 |
| Total assets | $22,189,829 |
| Accounts payable and accrued expenses | $18,429,294 |
| 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 | $3,005,726 |
| Other liabilities | $371,695 |
| Total liabilities | $21,806,715 |
| Net assets without donor restrictions | $100,369 |
| Net assets with donor restrictions | $282,745 |
| 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 | $22,189,829 |