Reservoir Engineering Research Institute
- Assets
- $231.9k
- Revenue
- $777.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Palo Alto, CA
- Founding
- 03/1991
- Data as of
- 12/2021
- EIN
- 77-0238044
Organization Overview
Reservoir Engineering Research Institute is located in Palo Alto, CA. The organization was established in 1991. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Reservoir Engineering Research Institute employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reservoir Engineering Research Institute 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 12/2021, Reservoir Engineering Research Institute generated $777.9k 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 (5.6%) each year. All expenses for the organization totaled $686.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.8%) 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
TO CARRY OUT IN-DEPTH RESEARCH IN KEY AREAS OF PETROLEUM RESERVOIR ENGINEERING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH PROJECTS ARE DIVIDED INTO TWO MAIN CATAGORIES:THERMODYNAMICS AND FLUID FLOW.IRREVERSABLE THERMODYNAMICS, INTERFACIAL THERMODYNAMICS AND BULK PHASE EQUILIBRIUM THERMODYNAMICS COVER RESEARCH PROJECTS RELATED TO KINETICS OF HYDRATE, WAX AND ASPHALTENE PRECIPITATION AND DESPOSITION, COMPOSITIONAL VARIATION IN HYDROCARBON RESERVOIRS AND GAS CONDENSATE RESERVOIRS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Abbas Firoozabadi Executive Direc | OfficerTrustee | 40 | $169,160 |
Prof Clayton Radke Director | Trustee | 1 | $0 |
Prof Gerald Fuller Director | Trustee | 1 | $0 |
Dr Bamshad Nazarian Director | Trustee | 1 | $0 |
Dr Bret Beckner Director | Trustee | 1 | $0 |
Dr Kjetil Haugen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $109,977 |
| 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 | $109,977 |
| Total Program Service Revenue | $667,922 |
| Investment income | $36 |
| 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 | $777,935 |
| 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. | $169,160 |
| Compensation of current officers, directors, key employees. | $27,066 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,062 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,750 |
| Payroll taxes | $30,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $2,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $706 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,918 |
| Travel | $4,278 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,047 |
| Insurance | $2,345 |
| All other expenses | $5,610 |
| Total functional expenses | $686,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,431 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $153,714 |
| 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 | $5,621 |
| Net Land, buildings, and equipment | $30,530 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,580 |
| Total assets | $231,876 |
| Accounts payable and accrued expenses | $42,766 |
| Grants payable | $0 |
| Deferred revenue | $97,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $44,858 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $105,900 |
| Total liabilities | $291,024 |
| Net assets without donor restrictions | -$59,148 |
| 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 | $231,876 |
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Construction Industry Drug Free Workplace Trust Portland, OR | $2,168,480 | $1,203,523 |
Engineering Contractors Association Anaheim, CA | $530,233 | $869,723 |
Operating Engineers Contract Administration Alameda, CA | $283,338 | $836,831 |
Reservoir Engineering Research Institute Palo Alto, CA | $231,876 | $777,935 |
American Council Of Engineering Companies Of Oregon Portland, OR | $493,091 | $606,858 |
Association Of Construction Employers Walnut Creek, CA | $857,059 | $691,658 |
California Geotechnical Engineers Association Newport Beach, CA | $513,650 | $539,947 |
Gse Construction Company Inc Veba Tr Livermore, CA | $128,013 | $516,702 |