Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | API'S EXECUTIVE COMMITTEE CONSISTS OF UP TO 15 MEMBERS OF THE BOARD (BUT NO LESS THAN 12). MEMBERS INCLUDE THE API CHAIRMAN OF THE BOARD AND THE CHAIR OF THE FINANCE COMMITTEE, WITH REPRESENTATION OF THE TOP SIX (6) DUES-PAYING MEMBERS, AND THE REMAINING MEMBERS CHOSEN FROM THE REMAINING DUES-PAYING MEMBERS. THE API PRESIDENT AND CEO SERVES AS AN EX-OFFICIO VOTING MEMBER. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO EXERCISE ALL OF THE POWERS OF THE BOARD OF DIRECTORS IN THE ABSENCE OF ACTION BY THE BOARD, EXCEPT TO AMEND THE BYLAWS OR AS OTHERWISE LIMITED BY LAW. ITS RESPONSIBILITIES INCLUDE LONG-RANGE PLANNING, STRATEGIC ISSUES, PROGRAM AND BUDGET DEVELOPMENT, OVERSIGHT AND ADMINISTRATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | API IS A TRADE ASSOCIATION WITH MEMBERSHIP DRAWN FROM THE OIL AND NATURAL GAS INDUSTRY. AS DESCRIBED BELOW, API'S MEMBERS PARTICIPATE IN THE ELECTION OF THE BOARD. REGULAR ELECTED BOARD MEMBERS HAVE FULL VOTING RIGHTS. API'S PRESIDENT IS AN EX OFFICIO VOTING MEMBER OF THE BOARD. OTHER EX OFFICIO MEMBERS DO NOT HAVE VOTING RIGHTS. HONORARY DIRECTORS HAVE NO VOTING RIGHTS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD MEMBERS ARE ELECTED BY THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. EACH DIRECTOR SHALL HOLD OFFICE FOR A TWO YEAR TERM OR UNTIL THE DIRECTOR HAS CEASED TO HAVE A SUBSTANTIAL FULLTIME CONNECTION WITH THE MEMBER COMPANY THE DIRECTOR SERVED WHEN ELECTED. |
| FORM 990, PART VI, SECTION B, LINE 11B | API'S FORM 990 WAS PREPARED BY ITS EXTERNAL ACCOUNTING FIRM. PRIOR TO FILING, THE FORM 990 WAS INCLUDED WITH THE MATERIALS FOR THE FINANCE COMMITTEE'S MEETING IN OCTOBER 2019, AND REVIEWED DURING THE MEETING. A COPY OF THE FORM 990 WAS PROVIDED TO THE EXECUTIVE COMMITTEE PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | API'S STANDARDS OF CONDUCT POLICY INCLUDES PROVISIONS RELATED TO AVOIDING ANY ACT THAT MAY RESULT IN A CONFLICT OF INTEREST. ON AN ANNUAL BASIS, ALL EMPLOYEES ARE ASKED TO CONFIRM THEIR COMPLIANCE WITH THE STANDARDS OF CONDUCT POLICY. ANY EMPLOYEE WHO IS AWARE OF A VIOLATION OF THIS POLICY MUST TAKE APPROPRIATE ACTION SO THAT THE VIOLATION IS PROMPTLY ADDRESSED. THIS MAY INCLUDE REPORTING A VIOLATION TO AN EXECUTIVE STAFF MEMBER OR TO AN EXTERNALLY-OPERATED ETHICS HOTLINE. ALL REPORTS ARE ASSIGNED TO AN APPROPRIATE EXECUTIVE STAFF MEMBER FOR INVESTIGATION AND RESOLUTION AND A REPORT OF ALL INCIDENTS ARE PROVIDED TO THE FINANCE COMMITTEE EACH YEAR. THE BOARD OF DIRECTORS ADOPTED A CONFLICT OF INTEREST POLICY IN 2008 THAT REQUIRES FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS. THE DISINTERESTED MEMBERS OF THE API EXECUTIVE COMMITTEE SHALL MAKE A DETERMINATION AS TO WHETHER A CONFLICT EXISTS AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY). A COPY OF THE POLICY IS PROVIDED ANNUALLY TO ALL BOARD MEMBERS WHO ARE REQUESTED TO COMPLETE AND SIGN AN ACKNOWLEDGMENT AND DISCLOSURE FORM. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR API'S PRESIDENT & CEO, OTHER OFFICERS, AND KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE, BASED ON PERFORMANCE REVIEWS, EXTERNAL COMPARABLE DATA OBTAINED FROM CONSULTANTS, AND OTHER RELEVANT INFORMATION. THE PRESIDENT & CEO'S COMPENSATION IS BASED ON A WRITTEN CONTRACT APPROVED BY THE EXECUTIVE COMMITTEE. A REVIEW WAS LAST CONDUCTED IN 2018 FOR THE PRESIDENT AND CEO, OTHER OFFICERS, AND KEY EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | NO DOCUMENTS AVAILABLE TO THE PUBLIC. |
| FORM 990, PART VI, LINE 10B | EXPLANATION OF STATE PETROLEUM COUNCILS API OPERATES STATE PETROLEUM COUNCILS LOCATED IN VARIOUS STATE CAPITALS. THESE ARE NOT SEPARATE LEGAL ENTITIES BUT OPERATE AS BRANCH OFFICES OF API UNDER LOCAL TRADE NAMES. THERE ARE ALSO SEVERAL UNRELATED LOCAL CHAPTERS THAT EXIST THAT MAY USE THE API NAME, BUT THEY ARE SEPARATE LEGAL ENTITIES FROM API. EXPLANATION OF CENTER FOR OFFSHORE SAFETY THE CENTER FOR OFFSHORE SAFETY IS AN INDUSTRY SPONSORED PROGRAM FOCUSED EXCLUSIVELY ON GULF OF MEXICO OFFSHORE SAFETY. THE CENTER FOR OFFSHORE SAFETY IS NOT A SEPARATE LEGAL ENTITY BUT OPERATES AS A BRANCH OFFICE OF API UNDER A TRADE NAME. EXPLANATION OF FOREIGN OFFICES AS THE MARKETS FOR API'S PROGRAMS HAVE BECOME INCREASINGLY GLOBAL, API MAINTAINS OFFICES IN CHINA, UNITED ARAB EMIRATES (UAE), SINGAPORE AND BRAZIL TO SERVE INTERNATIONAL CUSTOMERS. THE OFFICES ARE RESPONSIBLE FOR PROVIDING INFORMATION ABOUT API'S STANDARDS, CERTIFICATION PROGRAMS AND OTHER INDUSTRY SERVICES TO COMPANIES THROUGHOUT THE WORLD. THE CHINA AND UAE OFFICES ARE NOT SEPARATE LEGAL ENTITIES BUT OPERATE AS REPRESENTATIVE OFFICES. THE BRAZIL AND SINGAPORE OFFICES ARE SEPARATE LEGAL ENTITIES BUT HAVE ELECTED TO BE TREATED AS DISREGARDED ENTITIES OF API FOR TAX PURPOSES. |
| FORM 990, PART IX, LINE 11G | CONTRACTED AUDIT SERVICES 19,970,289. ADVOCACY CONSULTING 13,780,035. IT CONSULTING 4,302,661. OTHER CONSULTING SERVICES 9,153,299. |
| FORM 990, PART XI, LINE 9: | PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS 10,713,181. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
| Software ID: | |
| Software Version: |