ILLINOIS PETROLEUM RESOURCES BOARD

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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

2007

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $242,516

PUBLIC RELATIONS - PROMOTE A POSITIVE IMAGE AND UNDERSTANDING OF THE INDUSTRY WITH A PROACTIVE PUBLIC RELATIONS CAMPAIGN.

Program 2

Expenses: $208,821

ENVIRONMENTAL REMEDIATION - PARTICIPATE IN ENVIRONMENTAL CHARACTERIZATION AND REMEDIATION WORK CAUSED BY HISTORICAL OIL & GAS PRODUCTION WITHIN ILLINOIS.

Program 3

Expenses: $198,230

EDUCATION - CREATE AN UNDERSTANDING OF THE ILLINOIS OIL AND GAS INDUSTRY AND GOOD SAFETY PRACTICES THROUGH FREE PROGRAMS WITH SCHOOLS, ORGANIZATIONS, AND THE PUBLIC. THROUGH THE IPRB ILLINOIS OIL AND NATURAL GAS EDUCATION PROGRAM FOR SCIENCE AND MATH TEACHERS, THOUSANDS OF STUDENTS BENEFIT FROM THE CLASSROOM CURRICULUM, EQUIPMENT, MATERIALS AND PRESENTATION BY TRAINED TEACHERS. FURTHER, STUDENTS ARE BETTER PREPARED TO SEEK CAREERS IN SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM).

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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 $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

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

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

$117,500

Total Directors

Key Employees

Highest Compensated

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