Geothermal Resources Council
- Assets
- $1.9m
- Revenue
- $809.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Mount Laurel, NJ
- Founding
- 03/1981
- Data as of
- 06/2021
- EIN
- 94-2714326
Organization Overview
Geothermal Resources Council is located in Mount Laurel, NJ. The organization was established in 1981. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 06/2021, Geothermal Resources Council employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geothermal Resources Council 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 06/2021, Geothermal Resources Council generated $809.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONNECT THE GEOTHERMAL COMMUNITY AND CHAMPION GEOTHERMAL ENERGY IN THE UNITED STATES AND AROUND THE WORLD.
Describe the Organization's Program Activity:
ANNUAL MEETING - PROVIDES AN INTERNATIONAL FORUM WHERE MEMBERS, PARTICIPANTS AND GUESTS LEARN ABOUT THE LATEST ADVANCES IN GEOTHERMAL TECHNOLOGIES THROUGH TECHNICAL AND POSTER SESSIONS.
EDUCATIONAL COURSES, CONTRACTS AND PUBLICATIONS - VARIOUS COURSES AND PROJECTS PERTAINING TO GEOTHERMAL ENERGY, INCLUDING A GEOTHERMAL VIDEO, ON-LINE LIBRARY, INT'L EDUCATION AND VARIOUS EDUCATIONAL WORKSHOPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Pettitt Executive Director | Officer | 40 | $185,000 |
Andrew Sabin Past President (2021) | OfficerTrustee | 0 | $0 |
Jon Trujillo President (2021) | OfficerTrustee | 0 | $0 |
Maria C Richards Past President (2020) | OfficerTrustee | 0 | $0 |
Kelly Blake Vice President (2021) | OfficerTrustee | 0 | $0 |
Ann Robertson-Tait Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Association Headquarters Inc Management Services | 6/29/21 | $330,478 |
Ims Technology Service Video Conferencing | 6/29/21 | $139,109 |
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 | $4,570 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,570 |
| Total Program Service Revenue | $771,158 |
| Investment income | $28,130 |
| 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 | $809,078 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,615 |
| Grants and other assistance to domestic individuals. | $12,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $184,448 |
| Compensation of current officers, directors, key employees. | $46,111 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,624 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,461 |
| Payroll taxes | $14,883 |
| Fees for services: Management | $336,041 |
| Fees for services: Legal | $1,350 |
| 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 | $41,089 |
| Advertising and promotion | $190,515 |
| Office expenses | $0 |
| Information technology | $18,969 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,513 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,879 |
| Insurance | $6,615 |
| All other expenses | $0 |
| Total functional expenses | $1,122,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $426,630 |
| 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 | $16,069 |
| Investments—publicly traded securities | $1,493,307 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,936,006 |
| 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 | $77,243 |
| Other liabilities | $0 |
| Total liabilities | $77,243 |
| Net assets without donor restrictions | $1,190,771 |
| Net assets with donor restrictions | $667,992 |
| 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 | $1,936,006 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Climate Central Inc Princeton, NJ | $5,643,548 | $7,434,167 |
World Science Foundation New York, NY | $13,088,749 | $7,478,619 |
Mental Health Empowerment Project Inc Albany, NY | $1,208,283 | $2,548,134 |
Geothermal Resources Council Mount Laurel, NJ | $1,936,006 | $809,078 |
History Of Science Society Inc Philadelphia, PA | $3,981,769 | $842,698 |
American Center For Optics Manufacturing Inc Rochester, NY | $449,823 | $886,662 |
Shevchenko Scientific Society Inc New York, NY | $8,998,987 | $475,035 |
International Conference On Environmental Systems Inc Emmaus, PA | $324,269 | $409,317 |
Delta Laboratories Inc Rochester, NY | $0 | $165,215 |
City Kid Science Inc Brooklyn, NY | $75,525 | $215,338 |
Beljanski Foundation Inc New York, NY | $803,707 | $56,163 |
The Center For Scientific Integrity Inc New York, NY | $118,575 | $180,163 |