Society Of Petroleum Engineers Spe Inc
- Assets
- $59.5m
- Revenue
- $33.5m
- Investments
- $836.4k
- Employees
- 164
- Location
- Richardson, TX
- Founding
- 03/1985
- Data as of
- 03/2022
- EIN
- 75-2001539
Organization Overview
Society Of Petroleum Engineers Spe Inc is located in Richardson, TX. The organization was established in 1985. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 03/2022, Society Of Petroleum Engineers Spe Inc employed 164 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Petroleum Engineers Spe Inc 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 03/2022, Society Of Petroleum Engineers Spe Inc generated $33.5m 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 (7.3%) each year. All expenses for the organization totaled $31.0m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (9.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SOCIETY OF PETROLEUM ENGINEERS (SPE) IS A NOT-FOR-PROFIT PROFESSIONAL ASSOCIATION WHOSE MEMBERS ARE ENGAGED IN ENERGY RESOURCES DEVELOPMENT AND PRODUCTION. SPE SERVES APPROXIMATELY 124,800 MEMBERS IN 134 COUNTRIES WORLDWIDE. SPE IS A KEY RESOURCE FOR TECHNICAL KNOWLEDGE RELATED TO THE OIL AND GAS EXPLORATION AND PRODUCTION INDUSTRY AND PROVIDES SERVICES THROUGH ITS PUBLICATIONS, EVENTS, TRAINING COURSES AND ONLINE RESOURCES AT WWW.SPE.ORG.
Describe the Organization's Program Activity:
PUBLICATIONS - MAGAZINES, ONEPETRO, AND TECHNICAL JOURNALS - PROVIDES JOURNALS AND WEBSITE ACCESS FOR THE SOCIETY'S PUBLICATIONS, WEBSITES, ONLINE CONTENT REPOSITORIES AND TOOLS IN ORDER TO MAINTAIN AND STIMULATE EFFECTIVE KNOWLEDGE CAPTURE, DISSEMINATION AND ARCHIVING OF SPE'S CONTENT FOR ITS MEMBERS, AND THE PUBLIC. AVENUES OF DELIVERING THE TECHNICAL CONTENT INCLUDE SPE RESEARCH PORTALS (ONEPETRO AND PETROWIKI), SERIAL PUBLICATIONS SUCH AS THE JOURNAL OF PETROLEUM TECHNOLOGY, PEER-REVIEWED JOURNALS, SPE BOOKS AND SPE'S DEFINITIONS AND GUIDELINES.
MEETINGS, CONFERENCES, WORKSHOPS, FORUM SERIES, TRAINING COURSES, AND SYMPOSIUMS - SPE'S MEETING STRATEGY IS TO DELIVER HIGH QUALITY MEETINGS AND EVENTS FOR THE BENEFIT OF SPE MEMBERS, AND THE PUBLIC. MEETINGS CAN BE HELD IN VARIOUS FORMATS SUCH AS CONFERENCES, WORKSHOPS, SYMPOSIA, SUMMITS, FORUMS, TRAINING, TECH TALKS, AND WEBINARS. SPE MANAGES 90-100 EVENTS A YEAR. THE EVENTS RELATE TO TECHNICAL TOPICS BROUGHT FORWARD BY MEMBERS OF SPE THAT ARE RELATED TO THE EXPLORATION AND DEVELOPMENT OF OIL AND GAS.
MEMBER PROGRAMS, INCLUDING U.S. SECTIONS AND STUDENT CHAPTERS - SPE MEMBER PROGRAMS INCLUDE BENEFITS AND ACTIVITIES FOR SPE MEMBERS. SPE DELIVERS TO ITS MEMBERS VARIOUS PROGRAMS THROUGH SECTIONS AND STUDENT CHAPTERS. SPE PROVIDES THE FUNDING FOR THE DISTINGUISHED LECTURER PROGRAM THAT ALLOWS SECTIONS TO INVITE UP TO 2 DISTINGUISHED LECTURERS TO THEIR MEETINGS EACH YEAR. THE DISTINGUISHED LECTURER IS A SPE VOLUNTEER WHO IS A TECHNICAL EXPERT IN HIS/HER GIVEN AREA OF OIL AND GAS. SPE COVERS ALL TRAVEL COSTS RELATED TO THE TRAVEL FOR THE DISTINGUISHED LECTURER TO THE SECTION. SPE PRODUCES PROGRAMS FOR ITS STUDENTS AND YOUNG PROFESSIONAL MEMBERS. ACTIVITIES SUCH AS STUDENT PAPER CONTESTS, PETRO BOWL, VIRTUAL CAREER PATHWAY AND LEADERSHIP ALLIANCE PROGRAMS ARE JUST A FEW OF THE PROGRAMS OFFERED TO YOUNG PROFESSIONAL AS WELL AS STUDENT MEMBERS.
ASSOCIATED STAFF COSTS, MANAGEMENT FEE INCOME, IT INFRASTRUCTURE COSTS AND MISC. REVENUE IN SUPPORT OF THE MAJOR PROGRAMS OF SPE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark A Rubin CEO And Executive VP | Officer | 35 | $574,893 |
Stephen Graham Chief Operating Officer, Until 5/21 | Officer | 35 | $264,089 |
Steven Byrne Chief Financial Officer | Officer | 35 | $224,083 |
John Boden VP Information & Member Se | Officer | 35 | $216,652 |
Glenda Smith VP - Communications | Officer | 40 | $215,679 |
Leigh Ann Runyan Director - Americas Events | Officer | 40 | $202,654 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Knowledgeworks Global Ltd Editorial And Peer Review Services | 3/30/22 | $389,211 |
Marketo Marketing Automation Platform | 3/30/22 | $227,544 |
Silverchair Hosting Platform For Spe's Onepetro Libr | 3/30/22 | $283,639 |
Higher Logic Membership On-line Community | 3/30/22 | $223,637 |
Marriott Business Services Conference Exhibition Services | 3/30/22 | $719,761 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,375,365 |
| Government grants | $5,050,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,215,678 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,641,843 |
| Total Program Service Revenue | $19,037,792 |
| Investment income | $511,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $231,171 |
| Net Rental Income | $33,837 |
| Net Gain/Loss on Asset Sales | $2,357,993 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$223,300 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,510,702 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $606,411 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,523,986 |
| Compensation of current officers, directors, key employees. | $1,251,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,718,016 |
| Pension plan accruals and contributions | $685,958 |
| Other employee benefits | $1,803,630 |
| Payroll taxes | $1,000,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120,383 |
| Fees for services: Accounting | $201,652 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,177 |
| Fees for services: Other | $552,681 |
| Advertising and promotion | $78,194 |
| Office expenses | $101,228 |
| Information technology | $223,913 |
| Royalties | $0 |
| Occupancy | $670,957 |
| Travel | $484,037 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,726,728 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,119,917 |
| Insurance | $75,724 |
| All other expenses | $1,408,713 |
| Total functional expenses | $31,039,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,743,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,438,872 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,262,240 |
| Prepaid expenses and deferred charges | $2,143,624 |
| Net Land, buildings, and equipment | $8,506,557 |
| Investments—publicly traded securities | $23,354,076 |
| Investments—other securities | $836,370 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,177,343 |
| Total assets | $59,462,727 |
| Accounts payable and accrued expenses | $5,430,699 |
| Grants payable | $0 |
| Deferred revenue | $9,144,634 |
| 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 | $14,575,333 |
| Net assets without donor restrictions | $42,711,832 |
| Net assets with donor restrictions | $2,175,562 |
| 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 | $59,462,727 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Society Of Petroleum Engineers Spe Inc has recieved totaling $359,535.
| Awarding Organization | Amount |
|---|---|
American Institute Of Mining Metallurgical And Petroleum Engine Englewood, CO PURPOSE: $250K Member Society Direct; $102,387 Offshore Technology Conference Surplus Distribution | $352,387 |
Environmental Defense Fund Incorporated New York, NY | | $6,000 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $300 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $300 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $200 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of Petroleum Engineers Spe Inc Richardson, TX | $59,462,727 | $33,510,702 |
Ampp Global Center Inc Houston, TX | $68,838,224 | $35,576,150 |
Society Of Exploration Geophysicists Tulsa, OK | $25,966,350 | $8,901,872 |
American Association Of Petroleum Geologists Tulsa, OK | $20,462,532 | $7,257,597 |
American Indian Science And Engineering Society Albuquerque, NM | $4,342,231 | $8,766,660 |
Numfocus Inc Austin, TX | $8,197,419 | $5,449,943 |
International Association Of Geophysical Contractors Houston, TX | $2,781,499 | $3,124,332 |
Transmission Access Policy Study Group Inc Lafayette, LA | $229,689 | $894,035 |
Society Of Vacuum Coaters Albuquerque, NM | $1,238,095 | $267,231 |
Enc Inc Syntex Corporation Santa Fe, NM | $375,704 | $337,022 |
Renewable Energy Alliance - Houston Inc Houston, TX | $0 | $278,927 |
Association Of Clinical Scientists Houston, TX | $415,532 | $253,867 |