Society of Petroleum Engineers Spe Inc

Analysis

Society of Petroleum Engineers Spe Inc is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in March 1985, 41 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Society of Petroleum Engineers Spe Inc reported income of $33.0m and spending of $37.3m, spending 113% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income fell from $45.8m to $33.0m (-28%), an average of -7.9% a year. The sharpest change came in the year to March 2021, when income dropped by 40%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Society of Petroleum Engineers Spe Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Altarum Institute ($32.8m), Public Library of Science ($33.0m) and American Battlefield TR ($32.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 6.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $3.3m (8.8% of expenses). Other salaries and wages came to $11.1m. At year end it held assets of $52.2m against liabilities of $16.3m, net assets of $35.9m. It reported 147 employees.