Society For Underwater Technology
- Assets
- $101.1k
- Revenue
- $90.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/2005
- Data as of
- 06/2023
- EIN
- 20-2037714
Organization Overview
Society For Underwater Technology is located in Houston, TX. The organization was established in 2005. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society For Underwater Technology 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 06/2023, Society For Underwater Technology generated $90.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $92.6k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (14.0%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUT IS A LEARNED SOCIETY FOR INDIVIDUALS AND ORGANIZATIONS HAVING A COMMON INTEREST IN UNDERWATER TECHNOLOGY, OCEAN SCIENCE AND OFFSHORE ENGINEERING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS WERE ISSUED TO FIVE UNDERGRADUATE AND GRADUATE STUDENTS TO USE TOWARDS COMPLETING THEIR EDUCATIONAL PROGRAM.
SCHOLARSHIPS WERE ISSUED TO SEVEN UNDERGRADUATE AND GRADUATE STUDENTS TO USE TOWARDS COMPLETING THEIR EDUCATIONAL PROGRAM.
SUBSEA AWARENESS COURSES ARE HELD PERIDIOCALLY TO PROVIDE AN INTRODUCTION COURSE OFTRAINING IN UNDERWATER TECHNOLOGY. THESE FIVE DAY COURSES ARE DSIGNED FOR ENGINEERSWHO ARE NEW TO THE OFFSHORE NDUSTRY. SEVERAL FIVE-DAY COURSES WERE HELD. SUT ALSOPARTICIPATED IN THE OFFSHORE TECHNOLOGY CONFERENCE AND THE DEEP OFFSHORE TECHNOLOGYCOFERENCE. ADDITIONAL SHORT COURSES WERE HELD ON SELECTED TOPICS.
SUBSEA AWARENESS COURSES ARE HELD PERIODICALLY TO PROVIDE AN INTRODUCTION COURSE OF TRAINING IN UNDERWATER TECHNOLOGY. THESE FIVE-DAY COURSES ARE DESIGNED FOR ENGINEERS WHO ARE NEW TO THE OFFSHORE INDUSTRY. SEVERAL FIVE-DAY COURSES WERE HELD. SUT ALSO PARTICIPATED IN THE OFFSHORE TECHNOLOGY CONFERENCE AND THE DEEP OFFSHORE TECHNOLOGY CONFERENCE. ADDITIONAL SHORT COURSES WERE HELD ON SELECTED TOPICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tricia Hill President | OfficerTrustee | 5 | $0 |
Xiaoyan Long Secretary | OfficerTrustee | 5 | $0 |
Rodolfo Sancio Treasurer | OfficerTrustee | 5 | $0 |
Maria Ancheril Member | Trustee | 0 | $0 |
Roger Osborne Member | Trustee | 0 | $0 |
Kim Faulk Member | 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 | $23,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,618 |
| Total Program Service Revenue | $67,104 |
| Investment income | $3 |
| 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 | $90,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,000 |
| 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 | $87 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,458 |
| Advertising and promotion | $215 |
| Office expenses | $0 |
| Information technology | $2,773 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,591 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,542 |
| All other expenses | $0 |
| Total functional expenses | $92,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,127 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $101,127 |
| 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 | $1,463 |
| Total liabilities | $1,463 |
| 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 | $99,664 |
| Total liabilities and net assets/fund balances | $101,127 |