Wpc Organizing Committee FY2021 filing

Houston, TXUnknown exempt organization EIN 83-2086205Revenue $17.9M in FY2021

On file with the IRS23wpchouston.com701 Avenida De Las Americas 200 · Houston, TX

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To design and deliver compelling engagement, exceptional hospitality and ease of access to every world petroleumcongress delegate while proudly telling the houston story to the world.

52¢ of each $1 spent went to programs.
$1.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $1.5M a year · 26% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
52%
of spending
Worth a look: 52% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.8M
122% of total assets
Concern: liabilities are 122% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.9M
+495% vs prior year
Spent
$10.2M
To programs
52%
Net assets
−$1.1M
By yearFY2020–FY2023
Revenue
$17.9M
FY2021▲ +495%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.0M
FY2021$17.9M
FY2022$2.2M
FY2023$0
Expenses
$10.2M
FY2021▲ +79%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.7M
FY2021$10.2M
FY2022$1.2M
FY2023$11K
Net assets
−$1.1M
FY2021▲ +88%
Tap a bar for its year
Net assets by fiscal year
FY2020−$8.6M
FY2021−$1.1M
FY2022−$35K
FY2023$0

From the FY2021 Form 990 · see the original

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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

52 cents of each dollar spent went to programs.

Program services 52% · $5.3M Management & general 30% · $3.0M Fundraising 18% · $1.8M

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

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Who runs it and what they're paid

15 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Operating Officer
$462,747Pt VII · Sec A
Executive Vp-Congress Oper
$157,103Pt VII · Sec A
Director-Progect Managem
$151,856Pt VII · Sec A
VP - Administrative Services
$148,800Pt VII · Sec A
Vp-Sales Administration
$135,960Pt VII · Sec A
Director-Finance
$120,147Pt VII · Sec A
Director-Marketing
$109,947Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2022FY2021FY2020
Sallie Sargent$396,631$462,747$410,621
Anthony Calanca—$157,103$234,066
Allison Sacco—$151,856$138,696
Nicholas Sharrard—$148,800—
Eric Maguran—$120,147$140,714
Ashley Matthews—$135,960$115,043
Melissa Potterbaum—$109,947$102,073
Connie Gray——$100,824

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Creates engaging experiences and shares Houston's story with global energy delegates.

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Provided by the organization

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1 program · $5.3M · in their own filed words · FY2021
01

Program expenses in 2021 for the 23RD world petroleum congress, a technical conference, taking place in december 2021.

$5.3Mprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$17.9M
Ln 12
Fees for servicesLn 2g$17.4M
Other incomeLn 4–11$452K
Investment incomeLn 3$1K
Money outPt IX
$10.2M
Ln 25
Programscol B$5.3M
Managementcol C$3.0M
Fundraisingcol D$1.8M
Owns and owesPt X
−$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$4.8M
LiabilitiesLn 26$5.8M
PeoplePt VI, VII
15
listed · VII A
PaidVII A7
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$17.4M
Investment incomeLn 3$1K
Other incomeLn 4–11$452K
Total revenueLn 12$17.9M
Assets in detailPt X, end of year
CashLn 1$4.2M
SavingsLn 2$204K
Cash and savings togetherLn 1–2$4.4M
Land, buildings, equipmentLn 10c$31K
Total assetsLn 16$4.8M
LiabilitiesLn 26$5.8M
Net assetsLn 32−$1.1M
OperationsPt I, VI
EmployeesI 515
VolunteersI 6250
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 FY21End FY21
Cash and savingsLn 1–2$3.4M$4.4M
Land, buildings, equipmentLn 10c$40K$31K
Total assetsLn 16$6.9M$4.8M
LiabilitiesLn 26$15.5M$5.8M
Net assetsLn 32−$8.6M−$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$620K$157K$463K
Other salaries and wagesLn 7$1.3M$355K$480K$494K
Management feesLn 11a$902K$902K
Legal feesLn 11b$122K$122K
Accounting feesLn 11c$947$947
Other fees for servicesLn 11g$5.3M$3.9M$1.4M
Advertising and promotionLn 12$178K$178K
Office expensesLn 13$74K$74K
RoyaltiesLn 15$200K$200K
TravelLn 17$190K$8K$14K$168K
Conferences, conventions and meetingsLn 19$1.1M$762K$267K$60K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$9K$3K$3K$3K
InsuranceLn 23$210K$195K$16K
Total functional expensesLn 25$10.2M$5.3M$3.0M$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $0$11K−$11K$0 990 PDF
FY2022 $2.2M$1.2M$1.0M−$35K 990 PDF
FY2021 Viewing $17.9M$10.2M$7.7M−$1.1M 990 PDF
FY2020 $3.0M$5.7M−$2.7M−$8.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $17,858,109 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,993,809$17,405,164
I-10 Investment incomePrior year $2,604$1,412
I-11 Other revenuePrior year $5,689$451,533
I-12 Total revenuePrior year $3,002,102$17,858,109
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,279,676$1,948,602
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,412,546$8,234,917
I-18 Total expensesPrior year $5,692,222$10,183,519
I-19 Revenue less expensesPrior year −$2,690,120$7,674,590
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $17,858,109 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,405,164$17,405,164
VIII-3 Investment incomeExcluded from tax $1,412$1,412
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $451,533$451,533
VIII-12 Total revenueRelated to mission $17,856,697 · Unrelated business $0 · Excluded from tax $1,412$17,858,109
Part IX · Statement of functional expenses $10,183,519 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $157,103 · Management $462,747$619,850
IX-7 Other salaries and wagesPrograms $355,167 · Management $479,975 · Fundraising $493,610$1,328,752
IX-11a Management feesFundraising $901,663$901,663
IX-11b Legal feesManagement $122,357$122,357
IX-11c Accounting feesManagement $947$947
IX-11g Other fees for servicesPrograms $3,857,820 · Management $1,398,500$5,256,320
IX-12 Advertising and promotionFundraising $178,260$178,260
IX-13 Office expensesManagement $73,858$73,858
IX-15 RoyaltiesManagement $200,000$200,000
IX-17 TravelPrograms $7,968 · Management $14,387 · Fundraising $168,113$190,468
IX-19 Conferences, conventions and meetingsPrograms $761,947 · Management $266,698 · Fundraising $60,137$1,088,782
IX-20 InterestManagement $2,529$2,529
IX-22 Depreciation, depletion and amortizationPrograms $3,208 · Management $2,956 · Fundraising $3,091$9,255
IX-23 InsurancePrograms $194,658 · Management $15,820$210,478
IX-25 Total functional expensesPrograms $5,337,871 · Management $3,040,774 · Fundraising $1,804,874$10,183,519
Part X · Balance sheet $4,771,928 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $3,197,378$4,190,250
X-2 Savings and temporary cash investmentsStart of year $202,722$204,133
X-4 Accounts receivableStart of year $3,418,396$336,795
X-9 Prepaid expenses and deferred chargesStart of year $12,243$9,804
X-10c Land, buildings and equipment, netStart of year $39,791$30,946
X-16 Total assetsStart of year $6,870,530$4,771,928
X-17 Accounts payable and accrued expensesStart of year $64,630$1,616,277
X-24 Unsecured notes and loans payableStart of year $380,000$319,295
X-25 Other liabilitiesStart of year $2,429,395$3,907,852
X-26 Total liabilitiesStart of year $15,515,480$5,843,424
X-27 Net assets without donor restrictionsStart of year −$8,644,950−$1,071,496
X-32 Total net assets or fund balancesStart of year −$8,644,950−$1,071,496
X-33 Total liabilities and net assetsStart of year $6,870,530$4,771,928
Part XI · Reconciliation of net assets −$1,071,496 net assets at year end
XI-1 Total revenue$17,858,109
XI-2 Total expenses$10,183,519
XI-3 Revenue less expenses$7,674,590
XI-4 Net assets at start of year−$8,644,950
XI-5 Net unrealized gains (losses) on investments−$1,136
XI-8 Prior period adjustments−$100,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,071,496

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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