Society of Petroleum Engineers TR

Analysis

Society of Petroleum Engineers TR is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in January 1978, 48 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending November 2023, Society of Petroleum Engineers TR reported income of $719k and spending of $1.1m, spending 151% of what it took in. Across the 5 years on record, from November 2019 to November 2023, income grew from $646k to $719k (+11%), an average of +2.7% a year. The sharpest change came in the year to November 2020, when income rose by 40%. Over the whole period it spent 158% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Society of Petroleum Engineers TR sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Montessori School of Duluth Inc ($719k), Lutheran Home Association Foundation ($719k) and A Beginning Alliance ($719k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 14% of the total. At year end it held assets of $10.2m against liabilities of $910k, net assets of $9.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.