Civic Intelligence

Offshore Technology Conference

990 • Fiscal year 2021 • EIN 75-1992631

Aug 01, 2020 to Jul 31, 2021 • Filed on Dec 31, 2021

Organization Profilewww.otcnet.org
222 Palisades Creek DrRichardson, TX 75080

(972) 952-9494

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

98th percentile

1.13x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

15.40x

Higher debt load relative to revenue than 99% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Net Margin

1st percentile

-167%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Asset Growth

7th percentile

-4.5%

Faster asset growth than 7% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-69%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$13,421,893

Down $627,610 (-4.5%) from 2020

Net Assets

Down

-$1,734,255

Down $1,794,606 (-2974%) from 2020

Liabilities

Up

$15,156,148

Up $1,166,996 (+8.3%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$984,411

Down $2,155,876 (-69%) from 2020

Expenses

Down

$2,629,017

Down $700,919 (-21%) from 2020

Net Income

Down

-$1,644,606

Down $1,454,957 (-767%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2021

Assets$13,421,893
Liabilities$15,156,148
Net Assets-$1,734,255
Open 2021 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$984,411
Expenses$2,629,017
Net Income-$1,644,606
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Dec 31, 2021
Return Version
2020v4.1
Gross Receipts
$984,411
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
Cash and Non-Interest-Bearing Accounts$805,678$3,677,435▲ $2,871,757
Savings and Temporary Cash Investments$8,128,895$3,630,609▼ $4,498,286
Prepaid Expenses and Deferred Charges$2,461,224$2,071,392▼ $389,832
Accounts Receivable$731,900$1,977,505▲ $1,245,605
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$14,049,503$13,421,893▼ $627,610
Other Assets Total$1,921,806$2,064,952▲ $143,146
Liabilities
Deferred Revenue$12,682,579$14,747,029▲ $2,064,450
Accounts Payable and Accrued Expenses$1,269,290$382,947▼ $886,343
Other Liabilities$37,283$26,172▼ $11,111
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$13,989,152$15,156,148▲ $1,166,996
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$60,351$-1,734,255▼ $1,794,606
Total Net Assets Fund Balance$60,351$-1,734,255▼ $1,794,606
Total Liabilities and Net Assets / Fund Balance$14,049,503$13,421,893▼ $627,610

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,064,952--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$150,000---$150,000
2018$50,000$100,000--$150,000
2017$250,000--$200,000$50,000
2016$250,000---$250,000
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Cindy YieldingChair
Paul JonesVice Chair
Alex MartinezDirector
Bob WarrenDirector
Brian MillerDirector
Carlos MastrangeloDirector
Dan McConnellDirector
Doreen ChinDirector
Galen CobbDirector
Greg KusinskiDirector
Jerry CarrollDirector
Lirio QuinteroDirector
Sandeep KhuranaDirector
Steve LeveretteDirector
Robert EiflerDirector End: 12/20
Stephen L GrahamExecutive Director
Steve ByrneCFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Society of Petroleum EngineersManagement222 Palisades Creek Dr, Richardson, TX 75080$1,425,000
Freeman Audio Visual SolutionsAudio and VisualPO Box 734596, Dallas, TX 75373, Ae$238,160
SPE Asia PacificManagement-$157,330
Pico International LLCPlatform Services1416 Cook st, Houston, TX 77006$111,658
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$970,903
Investment Income
$0
Other Revenue
$13,508
Change in Net Assets
$-1,644,606

Audited Revenue Reconciliation

Revenue per Audited Statements
$984,411
Total Revenue per Audited Statements
$984,411
Total Revenue per Form 990
$984,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,629,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$2,175,000
Conferences and Meetings---$193,157
Advertising---$132,216
Office Expenses---$59,003
Insurance---$25,109
Fees for Services Accounting---$23,400
Fees for Services Legal---$12,880
Travel---$8,252
Total Functional Expenses$0$0$0$2,629,017

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,629,017
Total Expenses per Audited Statements$2,629,017
Total Expenses per Form 990$2,629,017
International Activity

International Summary

Offices
0
Employees
0
Spending
$1,204,017

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram ServicesConference00$1,204,017
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$26,172
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, Section B, Line 11B

“Organization's process to review form 990: 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, Section C, Line 19

“Availability of documents: 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.”

Form 990, Part VI, Section B, Line 12C

“Process to monitor compliance with 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, Section A, Line 3

“Delegation of management: in august 2016, 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 2020 calendar year for these individuals: stephen l. Graham $12,647 steve byrne $ 1,296”

Filing and Contact Details

Filer

Filer Name
Offshore Technology Conference
EIN
75-1992631
In Care Of
% STEVE BYRNE
Phone
9729529494
Address
222 Palisades Creek Dr, Richardson, TX 75080

Signing Officer

Name
Stephen L Graham
Title
Executive Director
Phone
9729529407
Signed
2021-12-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen L Graham
Formed
1969
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
100

Preparer

Firm
Bkd Llp
Address
14241 DALLAS PARKWAY SUITE 1100, 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: release of board-designated annual dinner fund $(150,000)”

Financial Statement Notes

Schedule D, Part X, Line 2

“Asc 740 footnote: 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.”

Schedule D, Part V, Line 4

“Intended use of endowment funds: the otc board of directors have reserved $150,000 for the annual dinner fund. The funds in this endowment are to be utilized at the discretion of the otc board to donate to a charity that supports at-risk youths initiatives or other community support groups. The funds were returned to the member societies during fiscal year 2021.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director End: 12/20
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,421,893
Liabilities
$15,156,148
Net assets
-$1,734,255
Revenue
$984,411
Expenses
$2,629,017
Net income
-$1,644,606
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
2021Detailed filing. Detailed filing data is available for this year.$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