Ipaa Educational Foundation: FY2022 Nonprofit Profile & Form 990 (EIN 52-1849282)

Revenue by fiscal year
FY2020	$492K
FY2021	$388K
FY2022	$301K
FY2023	$23K

Expenses by fiscal year
FY2020	$555K
FY2021	$429K
FY2022	$331K
FY2023	$89K

Net assets by fiscal year
FY2020	$138K
FY2021	$96K
FY2022	$66K
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

80%

20%

Program services 80% · $265K Management & general 20% · $66K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation

Barrett Russell

President/Ce

$0Pt VII · Sec A

C Jeffrey Eshelman

President/Ce

$0Pt VII · Sec A

Daniel Naatz

Treasurer/Se

$0Pt VII · Sec A

Steven Pruett

Chairman

$0Pt VII · Sec A

See Ipaa Educational Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates the public about oil and gas, funding energy education programs.

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1 program · $265K · in their own filed words · FY2022

01

The foundation supports various educational and charitable activities such as energy curricula, student competitions, and student externships. The foundation primarily supports education by providing oil and gas industry education in the following areas: 1. Award-winning high school petroleum academies 2.

$265Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2023

Independent Petroleum Association of AmericaFY2023$13K

Amazonsmile FoundationFY2023$47

Total grants receivedfrom 2 funders$13K

Grants paid · 3 grants · $40K · 2020–2022

Unitemized GrantFY2022$5,850

Unitemized GrantFY2020$24,200

Unitemized GrantFY2020$10,000

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$301K

Ln 12

Gifts and grantsLn 1h$284K

Fees for servicesLn 2g$17K

Investment incomeLn 3$12

Money outPt IX

$331K

Ln 25

Programscol B$265K

Managementcol C$66K

Owns and owesPt X

$66K

net assets · Ln 32

Cash and savingsLn 1–2$101K

Total assetsLn 16$107K

LiabilitiesLn 26$41K

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$284K

Fees for servicesLn 2g$17K

Investment incomeLn 3$12

Total revenueLn 12$301K

Assets in detailPt X, end of year

CashLn 1$101K

Cash and savings togetherLn 1–2$101K

Prepaid expenses and deferred chargesLn 9$7K

Total assetsLn 16$107K

LiabilitiesLn 26$41K

Net assetsLn 32$66K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$193K	$101K
Total assetsLn 16	$211K	$107K
LiabilitiesLn 26	$114K	$41K
Net assetsLn 32	$96K	$66K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$6K	$6K
Management feesLn 11a	$201K	$141K	$60K
Legal feesLn 11b	$1K	$1K
Accounting feesLn 11c	$4K		$4K
Other fees for servicesLn 11g	$103K	$103K
Advertising and promotionLn 12	$240	$240
Office expensesLn 13	$886	$696	$190
Information technologyLn 14	$7K	$7K
TravelLn 17	$1K	$1K
Conferences, conventions and meetingsLn 19	$5K	$5K
Other expenses (24a–d)Ln 24	$1K		$1K
Total functional expensesLn 25	$331K	$265K	$66K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 LatestFiled with the IRS Sep 10, 2024	$23K	$89K	−$66K	$0	990 PDF
FY2022 ViewingFiled with the IRS Nov 13, 2023	$301K	$331K	−$30K	$66K	990 PDF
FY2021Filed with the IRS Nov 7, 2022	$388K	$429K	−$42K	$96K	990 PDF
FY2020Filed with the IRS Nov 9, 2021	$492K	$555K	−$63K	$138K	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2022 990

Part I · Summary $300,967 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $357,304$284,220

I-9 Program service revenuePrior year $30,275$16,735

I-10 Investment incomePrior year $24$12

I-11 Other revenue$0

I-12 Total revenuePrior year $387,603$300,967

I-13 Grants and similar amounts paidPrior year $4,250$5,850

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $425,167$325,026

I-18 Total expensesPrior year $429,417$330,876

I-19 Revenue less expensesPrior year −$41,814−$29,909

Part VI · Governance 2 of 2 board members independent, 1 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-13 Written whistleblower policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $300,967 across 5 lines filed

VIII-1f All other contributions, gifts and grants$284,220

VIII-1h Total contributions, gifts and grants$284,220

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,735$16,735

VIII-3 Investment incomeRelated to mission $12$12

VIII-12 Total revenueRelated to mission $16,747$300,967

Part IX · Statement of functional expenses $330,876 across 11 lines filed

IX-2 Grants to domestic individualsPrograms $5,850$5,850

IX-11a Management feesPrograms $140,512 · Management $60,219$200,731

IX-11b Legal feesPrograms $1,306$1,306

IX-11c Accounting feesManagement $4,140$4,140

IX-11g Other fees for servicesPrograms $102,850$102,850

IX-12 Advertising and promotionPrograms $240$240

IX-13 Office expensesPrograms $696 · Management $190$886

IX-14 Information technologyPrograms $7,038$7,038

IX-17 TravelPrograms $1,095$1,095

IX-19 Conferences, conventions and meetingsPrograms $5,301$5,301

IX-24 Other expenses (24a–d)Management $1,439$1,439

IX-25 Total functional expensesPrograms $264,888 · Management $65,988 · Fundraising $0$330,876

Part X · Balance sheet $107,257 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $193,267$100,507

X-9 Prepaid expenses and deferred chargesStart of year $17,500$6,750

X-16 Total assetsStart of year $210,767$107,257

X-17 Accounts payable and accrued expenses$4,647

X-25 Other liabilitiesStart of year $113,023$36,175

X-26 Total liabilitiesStart of year $114,423$40,822

X-27 Net assets without donor restrictionsStart of year $96,344$66,435

X-32 Total net assets or fund balancesStart of year $96,344$66,435

X-33 Total liabilities and net assetsStart of year $210,767$107,257

Part XI · Reconciliation of net assets $66,435 net assets at year end

XI-1 Total revenue$300,967

XI-2 Total expenses$330,876

XI-3 Revenue less expenses−$29,909

XI-4 Net assets at start of year$96,344

XI-10 Net assets at end of year$66,435

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Ipaa Educational Foundation FY2022 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Ipaa Educational Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV