Illinois Petroleum Resources Board

Nonprofit profile at a glance

EIN
721576978
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Mount Vernon, IL, USA
Phone
6182422861
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$594,568
Expenses
$593,233
Assets
$1,537,506
Liabilities
$21,013

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Highest reported compensation

  • SETH WHITEHEAD (Executive Dir.): $115,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote an understanding of the business of oil & gas production in Illinois through education and public relation. To foster goodwill towards the industry by encouraging environmentally sound practices with respect to ongoing production and historical oilfield problems. To support research related to oil exploration and production and problem remediation.

What it reported doing in 2024

Education - create an understanding of the Illinois oil and gas industry and good safety practices through free programs with schools, organizations, and the public. Through the iprb Illinois oil and natural gas education program for science and math teachers, thousands of students benefit from the classroom curriculum, equipment, materials and presentation by trained teachers. Further, students are better prepared to seek careers in science, technology, engineering and math (stem).

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 48
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.6%; rating input score 78
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 2.59; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 77.6% of revenue deployed · 86.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $516K in reported program spending
  • Leadership: top reported pay $115K · 13 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.