Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEMBERSHIP DUES

  total $117,158,668 · related or exempt $117,158,668

• 2b · Program service revenue: CERTIFICATION PROGRAM

  total $111,841,632 · related or exempt $111,841,632

• 2c · Program service revenue: MEETING REVENUE

  total $6,098,630 · related or exempt $6,098,630

• 2d · Program service revenue: SUBSCRIPTIONS

  total $18,593 · related or exempt $18,593

• 3 · Investment income

  total $2,206,075 · excluded $2,206,075

• 5 · Royalties

  total $30,226,240 · related or exempt $30,226,240

• 7a · Gross sales of assets other than inventory

  securities $15,070,548

• 7b · Less cost or other basis and sales expenses

  securities $15,828,567 · other assets $1,766

• 7c · Gain or loss

  securities -$758,019 · other assets -$1,766

• 7d · Net gain or loss

  total -$759,785 · excluded -$759,785

• 11a · Other revenue: REFUNDS

  total $609,663 · excluded $609,663

• 11b · Other revenue: LATE FEES

  total $87,000 · excluded $87,000

• 11c · Other revenue: PAYROLL MANAGEMENT REIMBURSEMENTS

  total $39,963 · excluded $39,963

• 11d · All other revenue

  total $28,808 · excluded $28,808

• 11e · Other revenue, total

  $765,434

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $229,626

• 5 · Compensation of officers, directors and key employees

  total $17,545,741

• 7 · Other salaries and wages

  total $44,121,832

• 8 · Pension plan contributions

  total $6,963,955

• 9 · Other employee benefits

  total $6,417,888

• 10 · Payroll taxes

  total $3,585,892

• 11b · Fees: legal

  total $10,751,157

• 11c · Fees: accounting

  total $205,473

• 11d · Fees: lobbying

  total $4,122,396

• 11f · Fees: investment management

  total $79,484

• 11g · Fees: other

  total $38,720,012

• 12 · Advertising and promotion

  total $50,972,975

• 13 · Office expenses

  total $3,673,528

• 14 · Information technology

  total $12,148,747

• 15 · Royalties

  total $800,517

• 16 · Occupancy

  total $5,768,881

• 17 · Travel

  total $8,515,505

• 19 · Conferences, conventions and meetings

  total $11,013,807

• 22 · Depreciation, depletion and amortization

  total $3,142,885

• 23 · Insurance

  total $1,578,452

• 24a · Other expenses: STUDIES/RESEARCH

  total $12,960,973

• 24b · Other expenses: THIRD-PARTY OUTREACH

  total $12,411,399

• 24c · Other expenses: INCOME AND EXCISE TAXES

  total $2,602,976

• 24e · All other expenses

  total -$17,620

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $25,429,289 · end of year $30,878,999

• 2 · Savings and temporary cash investments

  beginning of year $1,077,062 · end of year $386,342

• 4 · Accounts receivable

  beginning of year $16,136,314 · end of year $15,162,107

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,542,523 · end of year $4,468,582

• 10a · Land, buildings and equipment: cost or other basis

  $51,788,529

• 10b · Land, buildings and equipment: accumulated depreciation

  $38,711,309

• 10c · Land, buildings and equipment, net

  beginning of year $13,404,869 · end of year $13,077,220

• 11 · Investments: publicly traded securities

  beginning of year $31,275,146 · end of year $33,680,881

• 15 · Other assets

  beginning of year $27,403,640 · end of year $25,262,915

• 17 · Accounts payable and accrued expenses

  beginning of year $17,200,595 · end of year $18,568,010

• 19 · Deferred revenue

  beginning of year $19,520,604 · end of year $19,612,287

• 25 · Other liabilities

  beginning of year $108,146,394 · end of year $95,517,158

• 27 · Net assets without donor restrictions

  beginning of year -$25,598,750 · end of year -$10,780,409

The filer's explanations (Part III)

PART I, LINE 1A

FIRST-CLASS OR CHARTER TRAVEL - FIRST OR BUSINESS CLASS AIR TRAVEL MUST BE APPROVED IN ADVANCE BY AN EXECUTIVE STAFF MEMBER, AND THE EMPLOYEE MUST PROVIDE THE JUSTIFICATION ON THE EXPENSE REPORT. NO FLIGHTS WERE CHARTERED DURING 2023. TRAVEL FOR COMPANIONS - INSTANCES IN WHICH A SPOUSE ACCOMPANIES AN EMPLOYEE TRAVELING ON BUSINESS AT API EXPENSE ARE LIMITED AND APPROVED IN ADVANCE. IN SUCH AUTHORIZED CASES, UNLESS THE STRICT LEGAL DEFINITION OF BUSINESS PURPOSE IS MET, THE REIMBURSEMENT IS TREATED AS TAXABLE INCOME TO THE EMPLOYEE. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - FOR EMPLOYEES WHO QUALIFY TO PARTICIPATE IN THE NONQUALIFIED RETIREMENT INCOME PLAN, API PAYS TAXES DUE ON THE ACCRUED BENEFITS AS THEY ARE AWARDED TO THE PARTICIPANTS. THESE TAX PAYMENTS ARE TREATED AS AN ADVANCE AND NETTED FROM THE ACCRUED BENEFITS TO THE PARTICIPANTS UPON DISTRIBUTION. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - REIMBURSEMENT OF CLUB DUES TO AN EMPLOYEE IN ANY CLUB ORGANIZED FOR PLEASURE, RECREATION, OR OTHER SOCIAL PURPOSE (I.E. COUNTRY CLUBS, LUNCHEON CLUBS, AND AIRLINE AND HOTEL CLUBS) IS LIMITED AND REQUIRES EXECUTIVE STAFF APPROVAL. EMPLOYEES WHO HAVE BEEN REIMBURSED FOR CLUB DUES MUST ANNUALLY ACCOUNT FOR THEIR BUSINESS USE, AND NON-BUSINESS USE IS TREATED AS TAXABLE INCOME TO THE EMPLOYEE. PERSONAL SERVICES - API PROVIDES A PERSONAL DRIVER TO THE PRESIDENT & CEO PRIMARILY FOR BUSINESS PURPOSES. ANY PERSONAL USAGE IS TREATED AS TAXABLE INCOME TO THE PRESIDENT & CEO.

PART I, LINE 4B

IN 2023, THE FOLLOWING PARTICIPANTS IN THE AMERICAN PETROLEUM INSTITUTE 457(F) SUPPLEMENTAL BENEFIT PLANS RECEIVED VESTED CONTRIBUTIONS THAT WERE INCLUDED IN THE PARTICIPANT'S 2023 W-2, AS WELL AS NON-VESTED CONTRIBUTIONS. THE TOTAL VESTED AND NON-VESTED CONTRIBUTIONS IN 2023 WERE AS FOLLOWS: MICHAEL J. SOMMERS $1,406,488 RYAN P. MEYERS $90,532 SHANNON DIBARI $261,333 AMANDA E. EVERSOLE $290,910 MEGAN B. BLOOMGREN $83,183 ANCHAL S. LIDDAR $93,822 DUSTIN MEYER $35,026 JOHN P. WAGNER $160,666 ROLF W. HANSON $28,263 LANCE WEST $3,000 ROBIN RORICK $24,424 STEPHEN COMSTOCK $918 THE FOLLOWING PARTICIPANT IN THE AMERICAN PETROLEUM INSTITUTE 457(F) SUPPLEMENTAL BENEFIT PLANS RECEIVED A DISTRIBUTION IN 2023 AS FOLLOWS, THIS DISTRIBUTION WAS INCLUDED IN THE PARTICIPANT'S 2023 W-2: FRANK MACCHIAROLA $114

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• AMERICAN PETROLEUM INSTITUTE HOLDING LLC

  HOLDS A MINORITY INTEREST IN API-BRASIL CONSULTORIA LDTA. · DE · income $0 · assets $0

  Directly controlled by AMERICAN PETROLEUM INSTITUTE

• API-BRASIL CONSULTORIA LTDA

  BUSINESS DEVELOPMENT · BR · income $0 · assets $211,854

  Directly controlled by AMERICAN PETROLEUM INSTITUTE