Oilfield Nextgen

Nonprofit profile at a glance

EIN
844048198
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-N 2020
Location
Friendswood, TX, USA
Phone
2817963590
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$179,075
Expenses
$192,533
Assets
$23,467
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Brian Cook (President)
  • Jason Arcemont (Vice President)

People named in this filing

  • Adam Burris (COB)
  • Brian Cook (President)
  • Jason Arcemont (Vice President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Educate todays youth about the employment opportunities in the oil field industry as well as trade schools options and assistance.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 72
  • Accountability: 58
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.9%; rating input score 77
  • Program expense ratio: 71.5%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 44.1%; rating input score 44; 41st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.5%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 69.9% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 88% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 45.3% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 76.9% of revenue deployed · 71.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $138K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 44/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.