Womens Energy Network INC

Not tax-deductible

Lexington, KY501(c)(6)Community DevelopmentEIN 81-3720201Revenue $1.2M in FY2024

On file with the IRSwomensenergynetwork.org201 E Main St Ste 810, 40507-2010 · Lexington, KYTax-exempt since Oct 2016

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Develop programs to provide networking opportunities and foster career and leadership development of women who work in the energy industries.

Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $37K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$289K
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+178% vs prior year
Spent
$966K
To programs
0%
Net assets
$402K
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▲ +178%
Tap a bar for its year
Revenue by fiscal year
FY2020$365K
FY2021$289K
FY2022$765K
FY2023$445K
FY2024$1.2M
Expenses
$966K
FY2024▲ +115%
Tap a bar for its year
Expenses by fiscal year
FY2020$360K
FY2021$353K
FY2022$793K
FY2023$450K
FY2024$966K
Net assets
$402K
FY2024▲ +215%
Tap a bar for its year
Net assets by fiscal year
FY2020$223K
FY2021$160K
FY2022$132K
FY2023$127K
FY2024$402K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2016.

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

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Past President
$0Pt VII · Sec A
Assist Treasurer
$0Pt VII · Sec A
President-Elect
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Chapter Rel Dir
$0Pt VII · Sec A
Mktg & Commun
$0Pt VII · Sec A
Ended 08/24) Memb Dir
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Womens Energy Network INC executive salaries →

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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

Connects women in energy for career growth and leadership.

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2 programs · in their own filed words · FY2024
01

Bi-Annual Conference

Wen's bi-annual conference is an excellent opportunity for both emerging leaders and seasoned professionals to connect, share insights, and enhance their skills. The conference fosters an inclusive, welcoming environment for all who support its mission, with space for meaningful connection and shared growth in a field where diversity of…

Pt IX · col B
02

Membership

The women's energy network, inc. Was formed in 2016 with the purpose of fostering the growth and support of chapters that advance women in the energy industry by developing a strong network.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$984K
Gifts and grantsLn 1h$246K
Investment incomeLn 3$11K
Money outPt IX
$966K
Ln 25
Owns and owesPt X
$402K
net assets · Ln 32
Cash and savingsLn 1–2$619K
Total assetsLn 16$691K
LiabilitiesLn 26$289K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$246K
Fees for servicesLn 2g$984K
Investment incomeLn 3$11K
Other incomeLn 4–11$569
Gains on assetsLn 7$0
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$619K
Cash and savings togetherLn 1–2$619K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$691K
LiabilitiesLn 26$289K
Net assetsLn 32$402K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$555K$619K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$646K$691K
LiabilitiesLn 26$518K$289K
Net assetsLn 32$127K$402K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$305K
Legal feesLn 11b$0
Accounting feesLn 11c$643
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$4K
Advertising and promotionLn 12$34K
Office expensesLn 13$0
Information technologyLn 14$38K
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$540K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$20K
Other expenses (24a–d)Ln 24$25K
All other expensesLn 24e$0
Total functional expensesLn 25$966K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$966K$274K$402K 990 PDF
FY2023 $445K$450K−$5K$127K 990 PDF
FY2022 $765K$793K−$28K$132K 990 PDF
FY2021 $289K$353K−$63K$160K 990 PDF
FY2020 $365K$360K$5K$223K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,240,205 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $83,943$245,500
I-9 Program service revenuePrior year $334,244$983,610
I-10 Investment incomePrior year $2,456$10,526
I-11 Other revenuePrior year $24,742$569
I-12 Total revenuePrior year $445,385$1,240,205
I-13 Grants and similar amounts paid$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 $449,976$965,900
I-18 Total expensesPrior year $449,976$965,900
I-19 Revenue less expensesPrior year −$4,591$274,305
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,240,205 across 10 lines filed
VIII-1f All other contributions, gifts and grants$245,500
VIII-1h Total contributions, gifts and grants$245,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $983,610$983,610
VIII-3 Investment incomeExcluded from tax $10,526$10,526
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $569$569
VIII-12 Total revenueRelated to mission $984,179 · Excluded from tax $10,526$1,240,205
Part IX · Statement of functional expenses $965,900 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$305,028
IX-11b Legal fees$0
IX-11c Accounting fees$643
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$3,500
IX-12 Advertising and promotion$33,745
IX-13 Office expenses$0
IX-14 Information technology$38,360
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$540,337
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$19,517
IX-24 Other expenses (24a–d)$24,770
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$965,900
Part X · Balance sheet $690,534 assets, 19 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $555,218$619,100
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $183$12,585
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $90,175$58,849
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $645,576$690,534
X-17 Accounts payable and accrued expensesStart of year $121,133$95,111
X-19 Deferred revenueStart of year $397,094$193,769
X-26 Total liabilitiesStart of year $518,227$288,880
X-27 Net assets without donor restrictionsStart of year $127,349$401,654
X-32 Total net assets or fund balancesStart of year $127,349$401,654
X-33 Total liabilities and net assetsStart of year $645,576$690,534
Part XI · Reconciliation of net assets $401,654 net assets at year end
XI-1 Total revenue$1,240,205
XI-2 Total expenses$965,900
XI-3 Revenue less expenses$274,305
XI-4 Net assets at start of year$127,349
XI-10 Net assets at end of year$401,654

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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