ILLINOIS PETROLEUM RESOURCES BOARD

EIN: 721576978 Community Improvement

MOUNT VERNON, IL

Total Revenue
$592,229
Total Expenses
$724,405
Total Assets
$1,540,315
Net Assets
$1,512,281
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
IL
Principal Officer
STEPHANIE STORCKMAN
Phone
6182422861
Tax Period
2023-01-01 to 2023-12-31

ILLINOIS PETROLEUM RESOURCES BOARD, founded in 2007, is a small nonprofit in the Community Improvement sector that reported $592K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $724K exceeded revenue, resulting in a 22% operating deficit.

Mission

TO PROMOTE AN UNDERSTANDING OF THE BUSINESS OF OIL & GAS PRODUCTION IN ILLINOIS THROUGH EDUCATION AND PUBLIC RELATION. TO FOSTER GOODWILL TOWARDS THE INDUSTRY BY ENCOURAGING ENVIRONMENTALLY SOUND PRACTICES WITH RESPECT TO ONGOING PRODUCTION AND HISTORICAL OILFIELD PROBLEMS. TO SUPPORT RESEARCH RELATED TO OIL EXPLORATION AND PRODUCTION AND PROBLEM REMEDIATION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $534,822
Investment Income $52,743
Other Revenue $4,664
TOTAL REVENUE $592,229

Expense Breakdown

Grants Paid $0
Salaries & Benefits $129,254
Fundraising Expenses $0
Program Expenses $649,567
Other Expenses $595,151
TOTAL EXPENSES $724,405

Year-over-Year Comparison

2023 2022 Change
Revenue $592,229 $681,030 -0.1%
Expenses $724,405 $585,029 +0.2%
Net Income $-132,176 $96,001 -2.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
1
Volunteers
N/A

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
5
$117,500
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SETH WHITEHEAD Executive Dir. 40.00
Officer
$117,500 $0 $117,500
BRAD RICHARDS VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
JANESSA VANDEVEER Secretary 1.00
Officer Director
$0 $0 $0
CHRIS MITCHELL Director 0.50
Director
$0 $0 $0
ALAN SAUNDERS Director 0.50
Director
$0 $0 $0
CASEY LAMPLEY Director 0.50
Director
$0 $0 $0
STEPHANIE STORCKMAN Chairman 1.00
Officer Director
$0 $0 $0
STACY TATE Director 0.50
Director
$0 $0 $0
TRAVIS THOMPSON Director 0.50
Director
$0 $0 $0
MICHAEL PAYNE VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
DAVID BRITTON Director 0.50
Director
$0 $0 $0
JASON FRANKE Director 0.50
Director
$0 $0 $0
MATT DAVIS Director 0.50
Director
$0 $0 $0
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 $592,229 $724,405 $1,540,315 $-132,176
2022 $681,030 $585,029 $1,685,544 $96,001
2021 $496,080 $344,754 $1,582,317 $151,326
2020 $317,145 $323,639 $1,452,085 $-6,494
2019 $491,720 $510,499 $1,455,748 $-18,779
2018 $528,707 $841,673 $1,506,214 $-312,966
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