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Nonprofiteer
← AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS FOUNDATION

Form 990 for tax year 2022

Filed by AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS FOUNDATION.

Totals

Total revenue
$4,467,614
Total expenses
$2,248,063
Contributions and grants received
$1,190,098
Grants paid
$869,491
Program service revenue
$0
Investment income
$3,706,355
Other revenue
-$428,839
Total assets, end of year
$62,354,420
Total liabilities, end of year
$411,222
Net assets or fund balances, end of year
$61,943,198
Program services expenses (Part IX)
$1,297,729
Management and general expenses
$882,631
Fundraising expenses
$67,703
Program service expenses (Part III)
$1,297,729

Program services were 57.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,190,098

  • 1g · Noncash contributions included above

    $149,947

  • 3 · Investment income

    total $2,310,711 · excluded $2,310,711

  • 5 · Royalties

    total $52,925 · excluded $52,925

  • 6a · Gross rents

    real property $366,903

  • 6b · Less rental expenses

    real property $510,334

  • 6c · Rental income or loss

    real property -$143,431

  • 6d · Net rental income or loss

    total -$143,431 · excluded -$143,431

  • 7a · Gross sales of assets other than inventory

    securities $2,347,167

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

    securities $951,523

  • 7c · Gain or loss

    securities $1,395,644

  • 7d · Net gain or loss

    total $1,395,644 · excluded $1,395,644

  • 11a · Other revenue: OTHER INVESTMENT INCOME

    total -$338,333 · unrelated business $117,233 · excluded -$455,566

  • 11e · Other revenue, total

    -$338,333

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $626,191 · program services $626,191

  • 2 · Grants to domestic individuals

    total $33,050 · program services $33,050

  • 3 · Grants to foreign organizations and individuals

    total $210,250 · program services $210,250

  • 11a · Fees: management

    total $200,362 · program services $30,087 · management and general $165,498 · fundraising $4,777

  • 11c · Fees: accounting

    total $54,000 · management and general $54,000

  • 11f · Fees: investment management

    total $104,954 · program services $104,954

  • 11g · Fees: other

    total $86,818 · management and general $72,170 · fundraising $14,648

  • 12 · Advertising and promotion

    total $29,363 · program services $288 · fundraising $29,075

  • 13 · Office expenses

    total $19,041 · management and general $3,053 · fundraising $15,988

  • 14 · Information technology

    total $2,465 · management and general $2,465

  • 16 · Occupancy

    total $248,344 · management and general $248,344

  • 17 · Travel

    total $231,832 · program services $231,832

  • 22 · Depreciation, depletion and amortization

    total $213,820 · management and general $213,820

  • 23 · Insurance

    total $30,593 · management and general $30,593

  • 24a · Other expenses: OVERHEAD COSTS

    total $102,874 · program services $19,097 · management and general $80,584 · fundraising $3,193

  • 24b · Other expenses: BANK FEES

    total $13,051 · program services $988 · management and general $12,063

  • 24c · Other expenses: PRINTING

    total $165 · program services $165

  • 24d · Other expenses: POSTAGE AND SHIPPING

    total $63 · management and general $41 · fundraising $22

  • 24e · All other expenses

    total $40,827 · program services $40,827

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $48,364 · end of year $101,954

  • 2 · Savings and temporary cash investments

    beginning of year $3,437,159 · end of year $1,054,237

  • 4 · Accounts receivable

    beginning of year $28,311 · end of year $18,647

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,272 · end of year $11,113

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

    $9,123,768

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

    $7,169,722

  • 10c · Land, buildings and equipment, net

    beginning of year $2,378,874 · end of year $1,954,046

  • 11 · Investments: publicly traded securities

    beginning of year $46,896,160 · end of year $55,319,490

  • 12 · Investments: other securities

    beginning of year $5,439,857 · end of year $3,620,305

  • 15 · Other assets

    beginning of year $329,492 · end of year $274,628

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,643 · end of year $57,232

  • 25 · Other liabilities

    beginning of year $303,797 · end of year $353,990

  • 27 · Net assets without donor restrictions

    beginning of year $45,932,947 · end of year $49,390,179

  • 28 · Net assets with donor restrictions

    beginning of year $12,318,102 · end of year $12,553,019

Mission and programs · 2022

Mission

THE DISSEMINATION OF SCIENTIFIC KNOWLEDGE IN THE FIELD OF GEOLOGY.

  • THE L. AUSTIN WEEKS MEMORIAL FUND IS UTILIZED TO SUPPORT PROGRAMS AND PROJECTS AS DETERMINED BY THE FOUNDATION TRUSTEES WHICH ADVANCE THE SCIENCE OF PETROLEUM GEOLOGY. DURING THE YEAR, THIS FUND SUPPORTS THE GEOLEGENDS VIDEO PROJECT, GEOSCIENTISTS WITHOUT BORDERS, SUPPLEMENTAL GRANT TO DISTINGUISHED LECTURER ACTIVITIES, PIONEERING WOMEN GEOSCIENTIST PROJECT, AS WELL AS GEOFORCE AND A DIGITAL IMMERSIVE GEOLOGY PROJECT.

    Expenses $146,732 · Grants $107,500

  • THE STUDENT SCHOLARSHIP PROGRAM INCLUDES GRANTS-IN-AID PROVIDING FINANCIAL ASSISTANCE TO GRADUATE STUDENTS (CURRENTLY ENROLLED IN MASTERS OR PH.D. PROGRAMS) WHOSE THESIS RESEARCH HAS APPLICATION TO THE SEARCH FOR AND DEVELOPMENT OF PETROLEUM AND ENERGY-MINERAL RESOURCES AND/OR RELATED TO ENVIRONMENTAL GEOLOGY ISSUES. ADDITIONALLY, THE STUDENT SCHOLARSHIP PROGRAM SUPPORTS EDUCATIONAL EXPENSES OF UNDERGRADUATE GEOSCIENCE STUDENTS AND THE DEPARTMENTS OF THEIR SCHOOL OR UNIVERSITY THROUGH THE L. AUSTIN WEEKS UNDERGRADUATE PROGRAM.

    Expenses $273,194 · Grants $255,625

  • THE BULLETIN IS THE FLAGSHIP TECHNICAL JOURNAL OF THE AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS. AAPG FOUNDATION PROVIDES FUNDING TO HELP SUPPORT PUBLISHING THE MONTHLY ISSUES OF THE BULLETIN.

    Expenses $148,616 · Grants $141,000

  • THE AAPG FOUNDATION SUPPORTS A DIVERSE GROUP OF OTHER PROGRAMS INCLUDING SCHOLARSHIPS FOR MILITARY VETERANS TO PURSUE AN UNDERGRADUATE DEGREE IN GEOLOGY, SUPPORT FOR THE BOY AND GIRL SCOUTS OF AMERICA INCLUDING THE BOY SCOUT JAMBOREE AND MERIT BADGE PROGRAM, AWARD RECOGNITION FOR OUTSTANDING GEOSCIENTISTS, AND SUBSCRIPTIONS FOR CERTAIN UNIVERSITIES TO HAVE ELECTRONIC ACCESS TO THE DATAPAGES DIGITAL ARCHIVES.

    Expenses $681,580 · Grants $317,759

  • THE DISTINGUISHED LECTURE PROGRAM REACHES AFFILIATED SOCIETIES AND UNIVERSITIES AROUND THE WORLD. THE PROGRAM ASSISTS WITH THE EXPENSES INVOLVED WITH PROVIDING DISTINGUISHED GEOSCIENCE LECTURES TO SPEAK BEFORE GEOLOGICAL SOCIETIES AND UNIVERSITY GROUPS.

    Expenses $47,607 · Grants $47,607

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Larry L Jones

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Michael Wisda

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lee B Backsen

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • James McGhay

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Valary L West

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • C Scott Cameron

    TRUSTEEE

    Total calculated
    $0
    Hours/week
    1

  • David Curtiss

    EXECUTIVE DIRECTOR

    Total calculated
    $313,054
    From this org
    $0
    From related orgs
    $261,237
    Other
    $51,817
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,237 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $15,674 related
    Nontaxable benefits
    $0 + $36,143 related
    Filer's total
    $0 + $313,054 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349300340

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