Independent Petroleum Association Of New Mexico
- Assets
- $577.8k
- Revenue
- $704.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Roswell, NM
- Founding
- 04/1979
- Data as of
- 12/2022
- EIN
- 85-0267696
Organization Overview
Independent Petroleum Association Of New Mexico is located in Roswell, NM. The organization was established in 1979. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, 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. Independent Petroleum Association Of New Mexico 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, Independent Petroleum Association Of New Mexico generated $704.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $444.6k during the year ending 12/2022. While expenses have increased by 4.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COMMON ASSOCIATION OF INDEPENDENT PRODUCERS OF OIL, GAS AND OTHER HYDROCARBONS AND RELATED INDUSTRIES THAT PROMOTES THE MAINTENANCE AND INTEGRITY OF OUR NATURAL RESOURCES. THE ASSOCIATION PROVIDES ITS MEMBERS WITH CRUCIAL INFORMATION AND PRESENTATION ON CURRENT AND PROPOSED LEGISLATION AND REGULATION AT STATE AND FEDERAL LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING - THE ASSOCIATION PROVIDES ITS MEMBERS WITH CRUCIAL INFORMATION AND REPRESENTATION ON CURRENT AND PROPOSED LEGISLATION AND REGULATION AT STATE AND FEDERAL LEVELS.
ADVANCE AND PRESERVE THE INTERESTS OF INDEPENDENT OIL AND GAS PRODUCERS WHILE EDUCATING THE PUBLIC ABOUT THE IMPORTANCE OF OIL AND GAS TO THE STATE OF NM AND ITS CITIZENS. PROVIDE INFORMATION THROUGH PUBLICATIONS AND THE IPANM WEBSITE.
NEED PROGRAM - THE NEED PROGRAM IS AN ENERGY EDUCATION NETWORK OF STUDENTS, EDUCATORS, BUSINESS, GOVERNMENT AND COMMUNITY LEADERS DEDICATED TO DEVELOPING STRONG ENERGY PROGRAMS IN THE U.S. AND NEW MEXICO SCHOOLS.
PUBLIC EDUCATION - TO EDUCATE THE PUBLIC ABOUT THE IMPORTANCE OF OIL AND GAS TO THE STATE OF NEW MEXICO AND ITS CITIZENS. THE PROGRAM INCLUDES 1) AN "OIL & GAS DAY AT THE CAPITOL," WHICH CONSISTS OF EXHIBITS AND SPEECHES BY STUDENTS, INDUSTRY SPOKESPERSONS AND GOVERNMENT OFFICIALS TO SHOWCASE HOW THE OIL AND GAS INDUSTRY IMPACTS OUR LIVES AND THE STATE ECONOMY; 2) A "WILDLIFE IN THE OILFIELD" PHOTO CONTEST TO SHOW THE PUBLIC THAT WILDLIFE IS ABUNDANT AROUND OILFIELD EQUIPMENT; AND 3) AN INFORMATIONAL MAGAZINE IS PRODUCED ABOUT THE INDUSTRY THAT IS WIDELY DISTRIBUTED THROUGHOUT THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Campbell President | OfficerTrustee | $0 | |
Mitch Krakauskas Secretary Tr | OfficerTrustee | $0 | |
Jared Hembree Se Vice Pres | OfficerTrustee | 0 | $0 |
Nick Piatek Nw Vice Pres | OfficerTrustee | $0 | |
Nick Mcclelland Past Preside | Trustee | $0 | |
Ryan Davis Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $194,830 |
| 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 | $194,830 |
| Total Program Service Revenue | $502,677 |
| Investment income | $3,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,193 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $704,468 |
| 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. | $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 | $77,302 |
| Fees for services: Accounting | $4,309 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,865 |
| Fees for services: Other | $104,457 |
| Advertising and promotion | $0 |
| Office expenses | $3,457 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $156 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,210 |
| All other expenses | $9,779 |
| Total functional expenses | $444,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,207 |
| 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 | $150,580 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $577,787 |
| 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 | $577,787 |
| Total liabilities and net assets/fund balances | $577,787 |