International Society Of Offshore And Polar Engineers is located in Cupertino, CA. The organization was established in 1991. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 06/2021, International Society Of Offshore And Polar Engineers employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Society Of Offshore And Polar Engineers 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 06/2021, International Society Of Offshore And Polar Engineers generated $390.0k 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 (10.4%) each year. All expenses for the organization totaled $402.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) 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
SCIENTIFIC AND EDUCATIONAL SUPPORT OF ORGANIZING, SPONSORING AND PUBLISHING ADVANCES IN OFFSHORE AND POLAR ENGINEERING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIP OF ANNUAL INTERNATIONAL SCIENCE CONFERENCE ON OFFSHORE AND POLAR ENGINEERING HELD JUNE 20-25, 2021. PACIFIC OFFSHORE MECHANICS SYMPOSIUM WAS HELD NOVEMBER 22-25, 2020.
PUBLICATION OF JOURNAL, CONFERENCE AND SYMPOSIUM PROCEEDINGS & REFERRED PAPERS.
SCHOLARSHIPS AND AWARD PRIZES, GIVEN TO INDIVIDUAL GRADUATE STUDENTS OF OFFSHORE AND POLAR ENGINEERING
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Prof Jin S Chung Executive Director | Officer | 55 | $52,332 |
Y Chung Manager | Officer | 40 | $46,117 |
Prof A Baeten Officer | Officer | 2 | $0 |
Prof D Wan Officer | Officer | 2 | $0 |
M Wu Officer | Officer | 2 | $0 |
Dr S Hong President | Officer | 5 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $38,361 |
Investment income | $17,641 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $9,882 |
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 | $390,017 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $3,000 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $98,449 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $118,673 |
Pension plan accruals and contributions | $7,292 |
Other employee benefits | $2,284 |
Payroll taxes | $22,598 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $2,120 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $50 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $370 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $10,136 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $11,604 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $402,506 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | -$2 |
Savings and temporary cash investments | $5,285,451 |
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 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $5,701,205 |
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 | $3,242 |
Total liabilities | $3,242 |
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 |
Total liabilities and net assets/fund balances | $5,697,963 |
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