AMERICAN PETROLEUM INSTITUTE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1919

Legal Domicile

Principal Officer

MICHAEL J SOMMERS

Phone

2026828000

Tax Period

2023-01-01 to 2023-12-31

AMERICAN PETROLEUM INSTITUTE, founded in 1919, is a major nonprofit that reported $267.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $258.3M left a modest 3% surplus.

Mission

THE MISSION OF AMERICAN PETROLEUM INSTITUTE (API) IS TO PROMOTE SAFETY ACROSS THE INDUSTRY GLOBALLY AND TO INFLUENCE PUBLIC POLICY IN SUPPORT OF A STRONG, VIABLE U.S. OIL AND NATURAL GAS INDUSTRY.

Program Service Accomplishments

Program 1

ADVOCACY - API SPEAKS FOR THE OIL AND NATURAL GAS INDUSTRY BEFORE CONGRESS, THE EXECUTIVE BRANCH OF GOVERNMENT, STATE LEGISLATURES, AND THE MEDIA. IT NEGOTIATES WITH REGULATORY AGENCIES, REPRESENTS THE INDUSTRY IN LEGAL PROCEEDINGS, PARTICIPATES IN COALITIONS, AND WORKS IN PARTNERSHIP WITH OTHER ASSOCIATIONS TO ACHIEVE ITS MEMBERS' PUBLIC POLICY GOALS.

Program 2

RESEARCH AND STATISTICS - API CONDUCTS OR SPONSORS RESEARCH RANGING FROM ECONOMIC ANALYSES TO TOXICOLOGICAL TESTING. API COLLECTS, MAINTAINS, AND PUBLISHES STATISTICS AND DATA ON U.S. INDUSTRY...

RESEARCH AND STATISTICS - API CONDUCTS OR SPONSORS RESEARCH RANGING FROM ECONOMIC ANALYSES TO TOXICOLOGICAL TESTING. API COLLECTS, MAINTAINS, AND PUBLISHES STATISTICS AND DATA ON U.S. INDUSTRY OPERATIONS, INCLUDING SUPPLY AND DEMAND FOR VARIOUS PRODUCTS, IMPORTS AND EXPORTS, DRILLING ACTIVITIES AND COSTS, AND WELL COMPLETIONS. THIS DATA PROVIDES TIMELY INDICATORS OF INDUSTRY TRENDS.

Program 3

STANDARDS - FOR MORE THAN 100 YEARS, API HAS LED THE DEVELOPMENT OF PETROLEUM, NATURAL GAS AND PETROCHEMICAL EQUIPMENT AND OPERATING STANDARDS. THESE REPRESENT THE INDUSTRY'S COLLECTIVE WISDOM ON...

STANDARDS - FOR MORE THAN 100 YEARS, API HAS LED THE DEVELOPMENT OF PETROLEUM, NATURAL GAS AND PETROCHEMICAL EQUIPMENT AND OPERATING STANDARDS. THESE REPRESENT THE INDUSTRY'S COLLECTIVE WISDOM ON EVERYTHING FROM DRILL BITS TO ENVIRONMENTAL PROTECTION AND EMBRACE PROVEN, SOUND ENGINEERING AND OPERATING PRACTICES AND SAFE, INTERCHANGEABLE EQUIPMENT AND MATERIALS. API MAINTAINS OVER 800 STANDARDS AND RECOMMENDED PRACTICES. MANY HAVE BEEN INCORPORATED INTO STATE AND FEDERAL REGULATIONS AND THEY ARE ALSO THE MOST WIDELY CITED STANDARDS BY THE INTERNATIONAL REGULATORY COMMUNITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $235,117,523

Investment Income $1,446,290

Other Revenue $30,991,674

TOTAL REVENUE $267,555,487

Expense Breakdown

Grants Paid $229,626

Salaries & Benefits $78,635,308

Fundraising Expenses $0

Other Expenses $179,451,547

TOTAL EXPENSES $258,316,481

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,555,487	$239,392,392	+0.1%
Expenses	$258,316,481	$241,637,261	+0.1%
Net Income	$9,239,006	$-2,244,869	-5.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

369

Volunteers

20000

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$12,533,493

Total Directors

$10,727,071

Key Employees

$5,012,248

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL J SOMMERS	PRESIDENT AND CEO	40.00	Officer Director	$9,862,747	$864,324	$10,727,071
MICHAEL K WIRTH	CHAIRMAN OF THE BOARD	0.50	Officer Director	$0	$0	$0
JOHN J CHRISTMANN	BOARD MEMBER & CHAIR FIN CMTE	0.50	Officer Director	$0	$0	$0
ORLANDO ALVAREZ	BOARD MEMBER - START OCT 2023	0.50	Director	$0	$0	$0
ALAN S ARMSTRONG	BOARD MEMBER	0.50	Director	$0	$0	$0
WILLIE CHIANG	BOARD MEMBER	0.50	Director	$0	$0	$0
GREGORY L EBEL	BOARD MEMBER - START MAR 2023	0.50	Director	$0	$0	$0
SANDY ESSLEMONT	BOARD MEMBER	0.50	Director	$0	$0	$0
W RANDALL FOWLER	BOARD MEMBER	0.50	Director	$0	$0	$0
ANN G FOX	BOARD MEMBER	0.50	Director	$0	$0	$0
JACK A FUSCO	BOARD MEMBER	0.50	Director	$0	$0	$0
CHRIS GOLDEN	BOARD MEMBER	0.50	Director	$0	$0	$0
MIKE J HENNIGAN	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN B HESS	BOARD MEMBER	0.50	Director	$0	$0	$0
STEPHEN L HIGHTOWER	BOARD MEMBER	0.50	Director	$0	$0	$0
VICKI HOLLUB	BOARD MEMBER	0.50	Director	$0	$0	$0
W HERBERT HUNT	BOARD MEMBER	0.50	Director	$0	$0	$0
ROGER HUTSON	BOARD MEMBER	0.50	Director	$0	$0	$0
ROGER W JENKINS	BOARD MEMBER	0.50	Director	$0	$0	$0
THOMAS E JORDEN	BOARD MEMBER	0.50	Director	$0	$0	$0
TRACY W KROHN	BOARD MEMBER	0.50	Director	$0	$0	$0
RYAN M LANCE	BOARD MEMBER	0.50	Director	$0	$0	$0
MATTHEW LANIGAN	BOARD MEMBER	0.50	Director	$0	$0	$0
RODERICK D LARSON	BOARD MEMBER	0.50	Director	$0	$0	$0
MARK E LASHIER	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID LAWLER	BOARD MEMBER - LEFT OCT 2023	0.50	Director	$0	$0	$0
OLIVIER LE PEUCH	BOARD MEMBER	0.50	Director	$0	$0	$0
MELANIE LITTLE	BOARD MEMBER - START MAR 2023	0.50	Director	$0	$0	$0
JEFFREY W MARTIN	BOARD MEMBER	0.50	Director	$0	$0	$0
BRENDAN MCCRACKEN	BOARD MEMBER	0.50	Director	$0	$0	$0
JEFF MILLER	BOARD MEMBER	0.50	Director	$0	$0	$0
RICHARD E MUNCRIEF	BOARD MEMBER	0.50	Director	$0	$0	$0
MEG E O'NEILL	BOARD MEMBER	0.50	Director	$0	$0	$0
DOUGLAS J PFERDEHIRT	BOARD MEMBER	0.50	Director	$0	$0	$0
FRANCOIS POIRIER	BOARD MEMBER	0.50	Director	$0	$0	$0
FERDINANDO RIGARDO	BOARD MEMBER	0.50	Director	$0	$0	$0
JEFFREY RINKER	BOARD MEMBER	0.50	Director	$0	$0	$0
LORENZO SIMONELLI	BOARD MEMBER	0.50	Director	$0	$0	$0
TRAVIS D STICE	BOARD MEMBER	0.50	Director	$0	$0	$0
ARJA TALAKAR	BOARD MEMBER - LEFT MAY 2023	0.50	Director	$0	$0	$0
LEE M TILLMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL P URE	BOARD MEMBER	0.50	Director	$0	$0	$0
GRETCHEN H WATKINS	BOARD MEMBER	0.50	Director	$0	$0	$0
BILL WAY	BOARD MEMBER	0.50	Director	$0	$0	$0
DARREN W WOODS	BOARD MEMBER	0.50	Director	$0	$0	$0
KAREN B WRIGHT	BOARD MEMBER	0.50	Director	$0	$0	$0
SHANNON DIBARI	SR VP, BUS OPERATIONS & STRATEGY	40.00	Officer	$714,007	$271,047	$985,054
RYAN P MEYERS	SR VP & CHIEF LEGAL OFFICER	40.00	Officer	$695,046	$126,322	$821,368
AMANDA E EVERSOLE	EXECUTIVE VP & CHIEF ADVOCACY OFFR	40.00	Key Emp	$2,089,429	$239,177	$2,328,606
ANCHAL S LIDDAR	SR VP, GLOBAL -INDUSTRY SERVICES	40.00	Key Emp	$685,791	$141,436	$827,227
MEGAN B BLOOMGREN	SR VP, COMMUNICATIONS	40.00	Key Emp	$671,783	$133,118	$804,901
DUSTIN MEYER	SR VP, POLICY, ECONOMICS & REG AFFRS	40.00	Key Emp	$438,830	$75,057	$513,887
FRANK MACCHIAROLA	SR VP, POLICY, ECONOMICS & REG AFFRS	40.00	Key Emp	$260,639	$27,504	$288,143
AMY KRIZ	VP AND CHIEF FINANCIAL OFFICER	40.00	Key Emp	$229,052	$20,432	$249,484
JOHN P WAGNER	VP & DEPUTY GENERAL COUNSEL	40.00	Highest	$649,221	$189,211	$838,432
ROLF W HANSON	VP, STATE GOVERNMENT RELATIONS	40.00	Highest	$652,266	$151,934	$804,200
LANCE WEST	VP, FEDERAL RELATIONS	40.00	Highest	$523,376	$38,230	$561,606
STEPHEN COMSTOCK	VP AND SENIOR COUNSELOR	40.00	Highest	$408,256	$148,219	$556,475
ROBIN RORICK	VP, MIDSTREAM POLICY	40.00	Highest	$433,393	$104,208	$537,601

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$267,555,487	$258,316,481	$122,917,046	$9,239,006
2022	$239,392,392	$241,637,261	$119,268,843	$-2,244,869
2021	$228,789,035	$226,725,567	$119,123,451	$2,063,468
2021	$228,789,035	$226,725,567	$119,123,451	$2,063,468
2020	$213,554,716	$232,451,761	$117,715,070	$-18,897,045
2019	$238,520,840	$249,963,292	$131,182,605	$-11,442,452
2018	$234,349,360	$242,248,092	$142,482,288	$-7,898,732