Oklahoma Oil and Gas Association

Nonprofit profile at a glance

EIN
730308320
IRS 990 coverage
2012–2018
Forms available
Form 990 2018
Location
Oklahoma City, OK, USA
Phone
4058435741
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Mutual/Membership Benefit N.E.C.

Official website

Reported finances

Revenue
$2,249,946
Expenses
$2,085,364
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • CHAD WARMINGTON (PRESIDENT)

Highest reported compensation

  • CHAD WARMINGTON (PRESIDENT): $353,753 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Improvement, promotion, and welfare of the oil & gas industry

What it reported doing in 2018

Daily activities directed toward the improvement, promotion, and welfare of the oil & gas industry

Operating model

Revenue model
Earned-program. 89% 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 66
  • Accountability: 84
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.7%; rating input score 93
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.3%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 17%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 29.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 24.1% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 92.7% of revenue deployed · 100% of spending went to programs
  • Governance: 18 of 18 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $354K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2012 to 2018
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.