Civic Intelligence

Offshore Technology Conference

EIN 75-1992631 • 501(c)6 • Richardson, TX

Profile

The offshore technology conference (otc) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.

222 Palisades Creek DrRichardson, TX 75080

www.otcnet.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

0.99x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.43x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Net Margin

96th percentile

55%

Higher net margin than 96% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Asset Growth

2nd percentile

-29%

Faster asset growth than 2% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

87th percentile

31%

Faster revenue growth than 87% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$8,922,150

Down $3,563,765 (-29%) from 2023

Liabilities

Down

$8,822,150

Down $3,563,765 (-29%) from 2023

Net Assets

Flat

$100,000

Flat from 2023

Revenue

Up

$20,472,558

Up $4,812,817 (+31%) from 2023

Expenses

Up

$9,250,499

Up $3,811,251 (+70%) from 2023

Net Income

Up

$11,222,059

Up $1,001,566 (+9.8%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0-$10MAssets 2011: $25,191,109Liabilities 2011: $25,091,109Net Assets 2011: $100,0002011Assets 2012: $23,863,880Liabilities 2012: $23,763,880Net Assets 2012: $100,0002012Assets 2013: $29,037,069Liabilities 2013: $28,937,069Net Assets 2013: $100,0002013Assets 2014: $27,544,299Liabilities 2014: $27,444,299Net Assets 2014: $100,0002014Assets 2015: $32,636,199Liabilities 2015: $32,286,199Net Assets 2015: $350,0002015Assets 2016: $25,398,773Liabilities 2016: $25,048,773Net Assets 2016: $350,0002016Assets 2017: $26,270,277Liabilities 2017: $25,920,277Net Assets 2017: $350,0002017Assets 2018: $16,491,870Liabilities 2018: $16,341,870Net Assets 2018: $150,0002018Assets 2019: $27,294,525Liabilities 2019: $27,044,525Net Assets 2019: $250,0002019Assets 2020: $14,049,503Liabilities 2020: $13,989,152Net Assets 2020: $60,3512020Assets 2021: $13,421,893Liabilities 2021: $15,156,148Net Assets 2021: -$1,734,2552021Assets 2022: $12,479,859Liabilities 2022: $12,379,859Net Assets 2022: $100,0002022Assets 2023: $12,485,915Liabilities 2023: $12,385,915Net Assets 2023: $100,0002023Assets 2024: $8,922,150Liabilities 2024: $8,822,150Net Assets 2024: $100,0002024

Highlighted filing

2024

Assets$8,922,150
Liabilities$8,822,150
Net Assets$100,000

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MRevenue 2011: $23,928,386Expenses 2011: $9,845,310Net Income 2011: $14,083,0762011Revenue 2012: $33,112,740Expenses 2012: $17,256,215Net Income 2012: $15,856,5252012Revenue 2013: $30,426,618Expenses 2013: $12,586,796Net Income 2013: $17,839,8222013Revenue 2014: $45,041,480Expenses 2014: $23,865,552Net Income 2014: $21,175,9282014Revenue 2015: $32,619,886Expenses 2015: $14,525,680Net Income 2015: $18,094,2062015Revenue 2016: $35,761,766Expenses 2016: $15,447,825Net Income 2016: $20,313,9412016Revenue 2017: $26,095,999Expenses 2017: $11,060,952Net Income 2017: $15,035,0472017Revenue 2018: $31,098,079Expenses 2018: $14,272,886Net Income 2018: $16,825,1932018Revenue 2019: $26,078,360Expenses 2019: $10,787,356Net Income 2019: $15,291,0042019Revenue 2020: $3,140,287Expenses 2020: $3,329,936Net Income 2020: -$189,6492020Revenue 2021: $984,411Expenses 2021: $2,629,017Net Income 2021: -$1,644,6062021Revenue 2022: $23,847,449Expenses 2022: $10,233,872Net Income 2022: $13,613,5772022Revenue 2023: $15,659,741Expenses 2023: $5,439,248Net Income 2023: $10,220,4932023Revenue 2024: $20,472,558Expenses 2024: $9,250,499Net Income 2024: $11,222,0592024

Highlighted filing

2024

Revenue$20,472,558
Expenses$9,250,499
Net Income$11,222,059

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.92$8.82$0.10$20.5$9.25$11.2
2023Summary only. Only limited summary data is available for this year.$12.5$12.4$0.10$15.7$5.44$10.2
2022Summary only. Only limited summary data is available for this year.$12.5$12.4$0.10$23.8$10.2$13.6
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.4$15.2$1.73$0.98$2.63$1.64
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.0$14.0$0.06$3.14$3.33$0.19
2019Summary only. Only limited summary data is available for this year.$27.3$27.0$0.25$26.1$10.8$15.3
2018Summary only. Only limited summary data is available for this year.$16.5$16.3$0.15$31.1$14.3$16.8
2017Summary only. Only limited summary data is available for this year.$26.3$25.9$0.35$26.1$11.1$15.0
2016Summary only. Only limited summary data is available for this year.$25.4$25.0$0.35$35.8$15.4$20.3
2015Summary only. Only limited summary data is available for this year.$32.6$32.3$0.35$32.6$14.5$18.1
2014Summary only. Only limited summary data is available for this year.$27.5$27.4$0.10$45.0$23.9$21.2
2013Summary only. Only limited summary data is available for this year.$29.0$28.9$0.10$30.4$12.6$17.8
2012Summary only. Only limited summary data is available for this year.$23.9$23.8$0.10$33.1$17.3$15.9
2011Summary only. Only limited summary data is available for this year.$25.2$25.1$0.10$23.9$9.85$14.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Aug 1, 2023 to Jul 31, 2024
Signed
May 28, 2025
Return Version
2023v6.0
Gross Receipts
$20,472,558
Mission and Program Overview

Mission

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.

Otc is organized and operated exclusively to promote and further the advance of scientific and technical knowledge of offshore resources and related environmental matters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$7,682,331$6,376,188▼ $1,306,143
Cash and Non-Interest-Bearing Accounts$2,602,113$1,171,731▼ $1,430,382
Prepaid Expenses and Deferred Charges$1,003,969$291,120▼ $712,849
Savings and Temporary Cash Investments$70,183$95,901▲ $25,718
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net-$0-
Loans From Officers Directors-$0-
Total Assets$12,485,915$8,922,150▼ $3,563,765
Other Assets Total$1,127,319$987,210▼ $140,109
Liabilities
Deferred Revenue$11,547,310$7,789,756▼ $3,757,554
Other Liabilities$454,104$792,349▲ $338,245
Accounts Payable and Accrued Expenses$384,501$240,045▼ $144,456
Total Liabilities$12,385,915$8,822,150▼ $3,563,765
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$100,000$100,000→ $0
Total Net Assets Fund Balance$100,000$100,000→ $0
Total Liabilities and Net Assets / Fund Balance$12,485,915$8,922,150▼ $3,563,765

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$987,210--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alex MartinezChair
Dan McconnellVice Chair
Bob WarrenDirector
Brian MillerDirector
Carlos MastrangeloDirector
Donald BurrisDirector
Doreen ChinDirector
Greg KuzinskiDirector
Jamie AllanDirector
Jerry CarrollDirector
Lirio QuinteroDirector
Neil KavanaughDirector
Rod LarsonDirector
Sandeep KhuranaDirector
Leigh Ann RunyanExecutive Director
Steve ByrneCFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Freeman Audio Visual SolutionsAudio And VisualPO Box 734596, Kuala Lumpur City Centre, Dallas, TX 75373, My$1,281,444
SMG Food and Beverage LLCCateringOne NRG Park, Taman Industri Selesa Jaya, Houston, TX 77054, My$1,059,145
Convex Malaysia Sdn BhdHall Rental and CateringPO Box 418005, Boston, MA 02241$939,031
FTI Consulting (SC) IncConsulting Services-$235,400
Innogen SDN BhdExhibition Booth & Signage-$154,631
Revenue and Support

Revenue Composition

Contributions and Grants
$45,000
Program Service Revenue
$20,151,344
Investment Income
$276,214
Other Revenue
$0
All Other Contributions
$45,000
Change in Net Assets
$11,222,059

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,472,558
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$20,472,558
Total Revenue per Form 990
$20,472,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,240,499
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings---$4,405,999
Fees for Services Management---$3,219,349
Advertising---$731,694
Office Expenses---$406,304
Travel---$284,708
Insurance---$69,178
Fees for Services Other---$42,250
Fees for Services Accounting---$41,475
Fees for Services Legal---$39,542
Grants to Domestic Orgs---$10,000
Total Functional Expenses$0$0$0$9,250,499

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,250,499
Total Expenses per Audited Statements$9,250,499
Total Expenses per Form 990$9,250,499
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Houston ToolBankHouston, TX501(c)(3)Tool Lending$10,000

International Summary

Offices
0
Employees
0
Spending
$3,280,342

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram ServicesConference00$3,118,404
South AmericaProgram ServicesConference00$161,938
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Distributions payable$775,859
Due to related party$16,490
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3 Delegation of management duties

In august 2022, otc entered into a management services agreement with society of petroleum engineers, inc (spe), whereby spe provides executive management and operational services for otc. Per irs guidance, the compensation paid by the management company is not shown on form 990, part vii, for the 2023 calendar year for these individuals: leigh ann runyan $ 13,124 steve byrne $ 3,332

Form 990, Part VI, Line 11B Review of form 990 by governing body

Form 990 is reviewed by the otc executive director and spe chief financial officer (cfo). A copy of the form 990 will be provided to the otc audit committee before filing with the irs.

Form 990, Part VI, Line 12C Conflict of interest policy

Otc regularly and consistently enforces compliance with the conflict of interest policy via its internal audit processes. Grant thornton performs the internal audit activity for the society of petroleum engineers (spe) who is the management of otc and audits the contracting and disbursement processes to ensure that no contracts are issued, or payments made to persons or entities that would have a conflict of interest.

Form 990, Part VI, Line 19 Required documents available to the public

The public may request offshore technology conference (otc) documents, tax returns, conflict of interest policy, whistleblower policy and/or otc financial statements by contacting the otc richardson, tx office.

Filing and Contact Details

Filer

Filer Name
Offshore Technology Conference
EIN
75-1992631
Phone
9729529494
Address
222 Palisades Creek Dr, Richardson, TX 75080

Signing Officer

Name
Amanda Rushing
Title
Executive Director
Phone
9729529494
Signed
2025-05-28
Discuss with paid preparer
Yes

Organization Details

Formed
1969
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
135

Preparer

Firm
Forvis Mazars LLP
Address
14221 Dallas Parkway Suite 400, Dallas, TX 75254
Preparer
Jeanette Verrelli
Phone
9727028262
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Distributions to Sponsoring Societies - -11222059;

Financial Statement Notes

Schedule D, Part X, Line 2 ASC 740

Management has evaluated their income tax positions under this guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Raw XML AppendixShowing 400 of 521 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE OFFSHORE TECHNOLOGY CONFERENCE (OTC) IS WHERE ENERGY PROFESSIONALS MEET TO EXCHANGE IDEAS AND OPINIONS TO ADVANCE SCIENTIFIC AND TECHNICAL KNOWLEDGE FOR OFFSHORE RESOURCES AND ENVIRONMENTAL MATTERS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0OTC ASIA - THE OFFSHORE TECHNOLOGY CONFERENCE (OTC) WHERE ENERGY PROFESSIONALS MEET TO EXCHANGE IDEAS AND OPINIONS TO ADVANCE SCIENTIFIC AND TECHNICAL KNOWLEDGE FOR OFFSHORE RESOURCES. THE EVENT OCCURRED FEBRUARY 27 - MARCH 1, 2024.
IRS990/ProgSrvcAccomActy3Grp/Desc0OTC BRASIL - THE OFFSHORE TECHNOLOGY CONFERENCE (OTC) IS WHERE ENERGY PROFESSIONALS MEET TO EXCHANGE IDEAS AND OPINIONS TO ADVANCE SCIENTIFIC AND TECHNICAL KNOWLEDGE FOR OFFSHORE RESOURCES AND ENVIRONMENTAL MATTERS. THE EVENT WAS CONDUCTED OCTOBER 24-26, 2023.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THIS GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.
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