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Intervention & Coiled Tubing Association

IRS exemption revoked

Montgomery, TXUnknown exempt organization EIN 74-2921985Revenue $229K in FY2019Latest return filed May 17, 2021

On file with the IRSicota.comMontgomery, TX

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Enhance communication,gather tech expertise,promote safety,training,competency & accepted practices within the well Intervention industry through participating mfg,suppliers,service providers & end-users of Coiled Tubing,slickline,wireline,hydraulic workover,pumping & assoc tech.

50¢ of each $1 spent went to programs.
Run by 39 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2019 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2019
latest Form 990
Concern: the latest return is for FY2019, 7 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $10K a year · 5% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
39
of 39 voting members
Looks good: 39 of 39 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$229K
+22% vs prior year
Spent
$229K
To programs
50%
Net assets
$460K
By yearFY2018–FY2019
Revenue
$229K
FY2019▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2018$188K
FY2019$229K
Expenses
$229K
FY2019▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2018$207K
FY2019$229K
Net assets
$460K
FY2019+0.03%
Tap a bar for its year
Net assets by fiscal year
FY2018$460K
FY2019$460K

From the FY2019 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2023

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2019.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $114K Management & general 50% · $115K

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

39 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Matt Billingham
SR Chairman
$0Pt VII · Sec A
Tim Ramsey
Treasurer
$0Pt VII · Sec A
Ken Newman
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Clarke
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Artem Gribov
Director
$0Pt VII · Sec A
See Intervention & Coiled Tubing Association 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 15aNo

Programs and updates

Improves well intervention industry safety and practices through collaboration and training.

Questions for Intervention & Coiled Tubing Association

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3 programs · $94K · in their own filed words · FY2019
01

Spe/Icota Well Intervention Conference & Exhibition

The annual SPE/ICOTA coiled tubing conference and exhibition held in conjunction with the society of petroleum engineers (spe) is the flagship icota event. This is a 2-DAY event that is proceeded by a day of short courses.

$33Kprogram expense
02

Online Training Courses

Two online training courses are offered on the icota website and is offered to all members (across all chapters) at no charge. Non-members are welcome to take the courses for a very small fee. Non-members wishing to take the course, will obtain membership in lieu of paying full price.

$31Kprogram expense
03

Dynamic Websites

Icota global launched a website initiative in 2018 with the goal of having a streamlined, professional web presence along with a dedicated members only area (WWW.ICOTA.COM). Members across all chapters will have access to a large library of industry relevant technical papers, case histories and presentations from icota conferences…

$30Kprogram expense

By the numbers

The FY2019 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$229K
Ln 12
Fees for servicesLn 2g$229K
Investment incomeLn 3$94
Money outPt IX
$229K
Ln 25
Programscol B$114K
Managementcol C$115K
Owns and owesPt X
$460K
net assets · Ln 32
Cash and savingsLn 1–2$453K
Total assetsLn 16$460K
LiabilitiesLn 26$0
PeoplePt VI, VII
39
listed · VII A
PaidVII A0
Voting boardVI 1a39
IndependentVI 1b39
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$229K
Investment incomeLn 3$94
Total revenueLn 12$229K
Assets in detailPt X, end of year
CashLn 1$453K
Cash and savings togetherLn 1–2$453K
Accounts receivableLn 4$4K
Prepaid expenses and deferred chargesLn 9$500
Land, buildings, equipmentLn 10c$2K
InvestmentsLn 11–13$50
Total assetsLn 16$460K
LiabilitiesLn 26$0
Net assetsLn 32$460K
OperationsPt I, VI
EmployeesI 50
VolunteersI 639
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY19End FY19
Cash and savingsLn 1–2$454K$453K
InvestmentsLn 11–13$50$50
Land, buildings, equipmentLn 10c$2K$2K
Total assetsLn 16$460K$460K
LiabilitiesLn 26$0$0
Net assetsLn 32$460K$460K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$73K$73K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$69K$69K
Advertising and promotionLn 12$9K$666$8K
Office expensesLn 13$8K$8K
Information technologyLn 14$7K$7K
OccupancyLn 16$7K$7K
TravelLn 17$127$127
Conferences, conventions and meetingsLn 19$40K$37K$3K
Other expenses (24a–d)Ln 24$15K$410$15K
Total functional expensesLn 25$229K$114K$115K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2019 Latest ViewingFiled with the IRS May 17, 2021 $229K$229K$121$460K 990 PDF
FY2018Filed with the IRS May 17, 2021 $188K$207K−$19K$460K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2019 990 (6 parts)
Part I · Summary $228,781 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $187,338$228,687
I-10 Investment incomePrior year $83$94
I-11 Other revenuePrior year $550$0
I-12 Total revenuePrior year $187,971$228,781
I-13 Grants and similar amounts paidPrior year $20,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $187,165$228,660
I-18 Total expensesPrior year $207,165$228,660
I-19 Revenue less expensesPrior year −$19,194$121
Part VI · Governance 39 of 39 board members independent, 3 to look at
VI-1a Voting members of the governing body39
VI-1b Independent voting members39
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $228,781 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $228,687$228,687
VIII-3 Investment incomeRelated to mission $94$94
VIII-12 Total revenueRelated to mission $228,781 · Unrelated business $0 · Excluded from tax $0$228,781
Part IX · Statement of functional expenses $228,660 across 10 lines filed
IX-11a Management feesManagement $72,603$72,603
IX-11c Accounting feesManagement $1,550$1,550
IX-11g Other fees for servicesPrograms $68,869$68,869
IX-12 Advertising and promotionPrograms $666 · Management $8,006$8,672
IX-13 Office expensesManagement $8,444$8,444
IX-14 Information technologyPrograms $6,889$6,889
IX-16 OccupancyManagement $6,658$6,658
IX-17 TravelManagement $127$127
IX-19 Conferences, conventions and meetingsPrograms $37,295 · Management $2,524$39,819
IX-24 Other expenses (24a–d)Programs $410 · Management $14,619$15,029
IX-25 Total functional expensesPrograms $114,129 · Management $114,531 · Fundraising $0$228,660
Part X · Balance sheet $460,299 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $453,692$452,813
X-4 Accounts receivableStart of year $3,500$4,500
X-9 Prepaid expenses and deferred chargesStart of year $500$500
X-10c Land, buildings and equipment, netStart of year $2,436$2,436
X-11 Publicly traded securitiesStart of year $50$50
X-16 Total assetsStart of year $460,178$460,299
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $460,178$460,299
X-32 Total net assets or fund balancesStart of year $460,178$460,299
X-33 Total liabilities and net assetsStart of year $460,178$460,299
Part XI · Reconciliation of net assets $460,299 net assets at year end
XI-1 Total revenue$228,781
XI-2 Total expenses$228,660
XI-3 Revenue less expenses$121
XI-4 Net assets at start of year$460,178
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$460,299

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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