Michigan Petroleum Association
- Assets
- $1.7m
- Revenue
- $1.2m
- Investments
- $1.0k
- Employees
- 4
- Location
- Lansing, MI
- Founding
- 01/1944
- Data as of
- 12/2021
- EIN
- 38-1248376
Organization Overview
Michigan Petroleum Association is located in Lansing, MI. The organization was established in 1944. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2021, Michigan Petroleum Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Petroleum Association 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 12/2021, Michigan Petroleum Association generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $989.2k during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP MEMBERS STAY INFORMED OF LAW CHANGES AND COMPLIANCE REGULATIONS IN THE PETROLEUM INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SERVICES INCLUDING EDUCATION AND LEGISLATIVE SERVICES BENEFITING APPROXIMATELY 200 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Griffin President | Officer | 50 | $182,374 |
Bruce Litchford Chairman | OfficerTrustee | 1 | $0 |
Brad Van Manen Vice Chairman | OfficerTrustee | 1 | $0 |
Bill Saad Treasurer | OfficerTrustee | 1 | $0 |
Kelly Lappinga Secretary | OfficerTrustee | 1 | $0 |
Dennis P Mccarthy Past Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,670 |
| All other contributions, gifts, grants, and similar amounts not included above | $300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,970 |
| Total Program Service Revenue | $889,266 |
| Investment income | $19,860 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,500 |
| Net Gain/Loss on Asset Sales | $22,863 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,176,439 |
| 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. | $212,785 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $140,828 |
| Pension plan accruals and contributions | $7,859 |
| Other employee benefits | $20,110 |
| Payroll taxes | $26,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,565 |
| Fees for services: Accounting | $22,105 |
| Fees for services: Lobbying | $97,987 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,148 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $64,920 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,860 |
| Travel | $16,504 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $145,370 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,362 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $989,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $508,535 |
| 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 | $22,328 |
| Net Land, buildings, and equipment | $360,108 |
| Investments—publicly traded securities | $837,315 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,000 |
| Total assets | $1,742,386 |
| Accounts payable and accrued expenses | $15,100 |
| Grants payable | $0 |
| Deferred revenue | $396,157 |
| 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 | $69 |
| Total liabilities | $411,326 |
| Net assets without donor restrictions | $1,331,060 |
| 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 | $1,742,386 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan Petroleum Association has recieved totaling $31,619.
| Awarding Organization | Amount |
|---|---|
National Oilheat Research Alliance Alexandria, VA PURPOSE: RESEARCH & DEVELOPMENT, ENERGY EFFICIENCY, EDUCATION & TRAINING | $31,619 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fraunhofer Usa Inc Plymouth, MI | $31,958,834 | $20,911,766 |
The Health Collaborative Cincinnati, OH | $10,957,986 | $22,262,752 |
Arbor Research Collaborative For Health Ann Arbor, MI | $23,346,603 | $18,357,581 |
Usona Institute Inc Madison, WI | $38,737,266 | $18,840,870 |
American Dairy Association Of Michigan Inc Okemos, MI | $3,921,233 | $8,317,997 |
Center For Healthcare Research & Transformation Ann Arbor, MI | $2,198,670 | $6,645,435 |
Innovative Lifestyles Inc Clarkston, MI | $1,440,300 | $6,333,556 |
Cleveland Va Medical Research And Education Foundation Cleveland, OH | $5,763,350 | $4,153,737 |
Society For Investigative Dermatology Inc Cleveland, OH | $10,062,839 | $2,813,359 |
Northern Indiana Education Foundation Inc Michigan City, IN | $18,815,733 | $2,249,251 |
Michigan Petroleum Association Lansing, MI | $1,742,386 | $1,176,439 |
Interrai Ann Arbor, MI | $4,412,577 | $1,351,910 |