Overview
What is Spe Foundation?
The Spe Foundation, situated in Richardson, Texas, is a nonprofit organization primarily focused on supporting the Society of Petroleum Engineers (SPE). Their mission is to bolster the member programs of SPE, including the Distinguished Lecturer Series and sponsoring technical webinars. Furthermore, they contribute to student scholarships for individuals pursuing a career in petroleum engineering. The foundation's contributions help enhance the learning and professional development opportunities within the petroleum engineering field.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star rating)
The Spe Foundation has received a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The overall score, calculated based on a comprehensive evaluation of their Accountability & Finance, showcases their successful management practices and transparency with a high score of 90%.
Key strengths of the organization include a fully independent board with 31 members, ensuring diverse governance. Additionally, they maintain robust financial oversight, demonstrated by their lack of material diversion of assets and a very favorable liabilities to assets ratio of 8.11%. Their commitment to ethical practices is further emphasized by the presence of a whistleblower policy and proper documentation protocols.
While the foundation excels in financial accountability, the data primarily focuses on these aspects without detailed information on programmatic impact or strategic initiatives. However, the high program expense ratio of 90.31% indicates a significant allocation of resources towards their mission-driven activities. Overall, the Spe Foundation appears to be a well-managed organization with a solid foundation of financial integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Spe Foundation legitimate?
Spe Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spe Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Spe Foundation?
The Spe Foundation's primary mission is to aid in the support of programs within the Society of Petroleum Engineers. Additionally, it offers scholarships to students who are pursuing an education in petroleum engineering. The organization's contributions are primarily directed towards funding the Society of Petroleum Engineers' Distinguished Lecturer Series and sponsoring technical webinars. In essence, the Spe Foundation serves to strengthen the Society of Petroleum Engineers' initiatives and encourages future generations in the field of petroleum engineering through educational scholarships.
Who is the CEO of Spe Foundation?
Egbert Imomoh is the Principal Officer of Spe Foundation.
What is the revenue of Spe Foundation?
Spe Foundation's revenue in 2022 was $535,963.
Who are the executives of Spe Foundation and what are their salaries?
There 31 volunteers at Spe Foundation.
Here are 31 key members and their salaries:
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Where can I find the form 990 for Spe Foundation?
Spe Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Spe Foundation
The SPE Foundation, with its mission at heart, aims to aid in the support of member programs within the Society of Petroleum Engineers and offer scholarships to students who are pursuing an education in petroleum engineering. This nonprofit organization's primary objective is to contribute to the Society of Petroleum Engineers, funding distinguished lecturer series and sponsoring technical webinars as part of their member programs. By doing so, the SPE Foundation plays a crucial role in fostering knowledge and skill development within the petroleum engineering field, thereby supporting the future generation of professionals in this sector.
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Impact
July, 2024
Spe Foundation's impact is significant in supporting member programs of the Society of Petroleum Engineers and providing scholarships for students pursuing an education in petroleum engineering. Contributions made by Spe Foundation help sustain the Society of Petroleum Engineers' distinguished lecturer series, sponsor technical webinars, and propel advancements in the field of petroleum engineering. This support plays a vital role in fostering innovation, knowledge sharing, and educational opportunities within the petroleum engineering community.
This information is meant to be a general summary of Spe Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $417,638
- Gross Receipts: $654,879
Assets and Liabilities:
- Total Assets: $10,541,618
- Total Liabilities: $854,927
- Net Assets: $9,686,691
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Organization Details
Founding Year
1977
Phone
(972) 952-9393Principal Officer
Egbert Imomoh
Main Address
222 PALISADES CREEK DR, RICHARDSON, TX, 750802040
NTEE Category
Code: U11 - Science research
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