Spe Foundation

Nonprofit profile at a glance

EIN
751575590
IRS 990 coverage
2018–2023
Forms available
Form 990 2023
Location
Richardson, TX, USA
Phone
9729529393
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$660,300
Expenses
$606,620
Assets
$11,322,862
Liabilities
$1,130,070

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • MS JANEEN JUDAH (PRESIDENT)
  • DR EGBERT IMOMOH (PAST PRESIDENT)
  • MR BRUCE E BERNARD (VICE PRESIDENT)
  • MR TERRY PALISCH (2024 SPE PRESIDENT (9/2024))
  • DR MEDHAT KAMAL (2023 SPE PRESIDENT (THRU 9/2024))

People named in this filing

  • MS JANEEN JUDAH (PRESIDENT)
  • DR EGBERT IMOMOH (PAST PRESIDENT)
  • MR DARCY SPADY (TREASURER)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support the member programs of the society of petroleum engineers and provide scholarships to students pursuing an education in petroleum engineering.

What it reported doing in 2023

Contributions to the society of petroleum engineers to support member programs for the distinguished lecturer series, long range calendar re-write and technical webinars

Operating model

Revenue model
Investment-supported. 71% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 77
  • Accountability: 94
  • Sustainability: 71
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $3.7 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.1%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 18.67; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -9.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76% of spending went to programs
  • Governance: 30 of 30 board members independent · 6 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $461K in reported program spending
  • Leadership: top reported pay $0 · 31 people listed
  • Highest-paid contractors: 1 contractor listed · $125K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 6 filing years from 2018 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.