Civic Intelligence

Oregon Wave Energy Trust

EIN 20-8308559 • 501(c)6 • Portland, OR

Profile

The mission of the oregon wave energy trust (owet) is to become a central entity for wave energy-related development in oregon. Guided by its stakeholders, the oregon wave energy trust will build and share the expertise needed to support and accelerate the responsible development of the state's emerging wave energy industry.

240 N Broadway No 128Portland, OR 97227-1881

www.oregonwave.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

50th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

2nd percentile

-1098%

Higher net margin than 2% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

7th percentile

-100%

Faster asset growth than 7% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-80%

Faster revenue growth than 5% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$0

Down $155,387 (-100%) from 2018

Liabilities

Down

$0

Down $17,751 (-100%) from 2018

Net Assets

Down

$0

Down $137,636 (-100%) from 2018

Revenue

Down

$12,462

Down $50,011 (-80%) from 2018

Expenses

Up

$149,355

Up $94,092 (+170%) from 2018

Net Income

Down

-$136,893

Down $144,103 (-1999%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $1,823,812Liabilities 2010: $1,609,934Net Assets 2010: $213,8782010Assets 2011: $1,840,506Liabilities 2011: $1,823,559Net Assets 2011: $16,9472011Assets 2012: $1,458,516Liabilities 2012: $1,498,251Net Assets 2012: -$39,7352012Assets 2013: $1,434,968Liabilities 2013: $1,419,297Net Assets 2013: $15,6712013Assets 2014: $1,154,534Liabilities 2014: $1,078,266Net Assets 2014: $76,2682014Assets 2015: $1,134,680Liabilities 2015: $1,037,162Net Assets 2015: $97,5182015Assets 2016: $999,255Liabilities 2016: $886,675Net Assets 2016: $112,5802016Assets 2017: $211,516Liabilities 2017: $81,090Net Assets 2017: $130,4262017Assets 2018: $155,387Liabilities 2018: $17,751Net Assets 2018: $137,6362018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $943,1132010Expenses 2011: $1,566,1782011Expenses 2012: $1,570,1652012Revenue 2013: $1,440,253Expenses 2013: $1,442,954Net Income 2013: -$2,7012013Revenue 2014: $1,159,240Expenses 2014: $1,098,643Net Income 2014: $60,5972014Revenue 2015: $679,868Expenses 2015: $658,618Net Income 2015: $21,2502015Revenue 2016: $443,075Expenses 2016: $428,013Net Income 2016: $15,0622016Revenue 2017: $974,635Expenses 2017: $956,789Net Income 2017: $17,8462017Revenue 2018: $62,473Expenses 2018: $55,263Net Income 2018: $7,2102018Revenue 2019: $12,462Expenses 2019: $149,355Net Income 2019: -$136,8932019

Highlighted filing

2019

Revenue$12,462
Expenses$149,355
Net Income-$136,893

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$12,462
Mission and Program Overview

Mission

The mission of the oregon wave energy trust (owet) is to become a central entity for wave energy-related development in oregon. Guided by its stakeholders, the oregon wave energy trust will build and share the expertise needed to support and accelerate the responsible development of the state's emerging wave energy industry.

The mission of the oregon wave energy trust (owet) is to become a central entity for wave energy-related development in oregon. Guided by its stakeholders, owet will build and share the expertise needed to support and accelerate the responsible development of the state's emerging wave energy industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$149,492$0▼ $149,492
Accounts Receivable$3,939$0▼ $3,939
Land, Buildings, and Equipment, Net$1,396$0▼ $1,396
Cash and Non-Interest-Bearing Accounts$560$0▼ $560
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$155,387$0▼ $155,387
Other Assets Total-$0-
Liabilities
Deferred Revenue$16,401$0▼ $16,401
Accounts Payable and Accrued Expenses$1,350$0▼ $1,350
Total Liabilities$17,751$0▼ $17,751
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$137,636$0▼ $137,636
Total Net Assets Fund Balance$137,636$0▼ $137,636
Total Liabilities and Net Assets / Fund Balance$155,387$0▼ $155,387
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Jason BuschExecutive DirectorFT$100,000$100,000

Board Members and Trustees

NameTitle
Robert BaileyPresident
Jimmy LindsayBoard Member
REBECCA O'NEILBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,462
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-136,893
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$148,381
Other Expenses$974
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$148,381
Depreciation Depletion---$665
All Other Expenses---$309
Total Functional Expenses$0$0$0$149,355
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pacific Ocean Energy TrustPortland, OR-CONTRIBUTING TO POET'S MISSION$148,381
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization have individual and business members who pay dues.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed and approved by the executive director. A copy of the approved form 990 is provided to all board members prior to filing.

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

During board meetings, when a project is considered or a discussion begins that could involve one of the board member's companies or their involvement, the person(s) is asked to leave and the discussion takes place in a "closed door meeting". In addition, when projects come up and a rfp is released, it is carefully monitored to make sure that a board member does not have an unfair advantage and has to bid as everyone else.

Form 990, Part VI, Section B, Line 15A

The organization's attorney counsel and board members researched similar non-profit organizations for salary comparisons to determine comparable data as baseline salary parameter and used that as baseline range to determine salary in accordance to experience.

Form 990, Part VI, Section C, Line 19

Upon request and through the organization's website.

Filing and Contact Details

Filer

Filer Name
Oregon Wave Energy Trust
EIN
20-8308559
Phone
5035245621
Address
240 N BROADWAY NO 128, PORTLAND, OR 97227-1881

Signing Officer

Name
Jason Busch
Title
Executive Director
Phone
5035245621
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Busch
Formed
2007
Legal Domicile
Or
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Hoffman Stewart & Schmidt Pc
Address
3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-8663
Preparer
George H Hughes
Phone
5032205900
Supplemental Narrative

Additional Explanations

Form, Part I, Line 1

The mission of the oregon wave energy trust (owet) is to become a central entity for wave energy-related development in oregon. Guided by its stakeholders, owet will build and share the expertise needed to support and accelerate the responsible development of the state's emerging wave energy industry.

FORM 990, PART XI, LINE 9:

Transfer to pacific ocean energy trust -743.

Raw XML Appendix372 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE MISSION OF THE OREGON WAVE ENERGY TRUST (OWET) IS TO BECOME A CENTRAL ENTITY FOR WAVE ENERGY-RELATED DEVELOPMENT IN OREGON. GUIDED BY ITS STAKEHOLDERS, THE OREGON WAVE ENERGY TRUST WILL BUILD AND SHARE THE EXPERTISE NEEDED TO SUPPORT AND ACCELERATE THE RESPONSIBLE DEVELOPMENT OF THE STATE'S EMERGING WAVE ENERGY INDUSTRY.
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IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE OREGON WAVE ENERGY TRUST (OWET) IS TO BECOME A CENTRAL ENTITY FOR WAVE ENERGY-RELATED DEVELOPMENT IN OREGON. GUIDED BY ITS STAKEHOLDERS, OWET WILL BUILD AND SHARE THE EXPERTISE NEEDED TO SUPPORT AND ACCELERATE THE RESPONSIBLE DEVELOPMENT OF THE STATE'S EMERGING WAVE ENERGY INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAVE INDIVIDUAL AND BUSINESS MEMBERS WHO PAY DUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR. A COPY OF THE APPROVED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DURING BOARD MEETINGS, WHEN A PROJECT IS CONSIDERED OR A DISCUSSION BEGINS THAT COULD INVOLVE ONE OF THE BOARD MEMBER'S COMPANIES OR THEIR INVOLVEMENT, THE PERSON(S) IS ASKED TO LEAVE AND THE DISCUSSION TAKES PLACE IN A "CLOSED DOOR MEETING". IN ADDITION, WHEN PROJECTS COME UP AND A RFP IS RELEASED, IT IS CAREFULLY MONITORED TO MAKE SURE THAT A BOARD MEMBER DOES NOT HAVE AN UNFAIR ADVANTAGE AND HAS TO BID AS EVERYONE ELSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S ATTORNEY COUNSEL AND BOARD MEMBERS RESEARCHED SIMILAR NON-PROFIT ORGANIZATIONS FOR SALARY COMPARISONS TO DETERMINE COMPARABLE DATA AS BASELINE SALARY PARAMETER AND USED THAT AS BASELINE RANGE TO DETERMINE SALARY IN ACCORDANCE TO EXPERIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST AND THROUGH THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6TRANSFER TO PACIFIC OCEAN ENERGY TRUST -743.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM, PART I, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO CARRY OUT THE CHARITABLE PURPOSES RELATED TO AND IN SUPPORT OF OWET.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 8626
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PORTLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd097207
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0148381
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0155387
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0155387
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0149355
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt017751
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt017751
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0137636
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt012462
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt012462
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012462
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0155387
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt0100000
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0240 N BROADWAY STE 128
IRS990/USAddress/CityNm0PORTLAND
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd0972271881
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.OREGONWAVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OREGON WAVE ENERGY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0OREG
ReturnHeader/Filer/EIN0208308559
ReturnHeader/Filer/PhoneNum05035245621
ReturnHeader/Filer/USAddress/AddressLine1Txt0240 N BROADWAY NO 128
ReturnHeader/Filer/USAddress/CityNm0PORTLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd0972271881
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E72C4EF47EDF5249EFE5630959BBABBA08A63AD2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09B8630B01D6D2A982996DD0BC754C53639148AD1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02020-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm016:26:24
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0930743240
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOFFMAN STEWART & SCHMIDT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 CENTERPOINTE DRIVE SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKE OSWEGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0970358663
ReturnHeader/PreparerPersonGrp/PhoneNum05032205900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GEORGE H HUGHES
ReturnHeader/ReturnTs02020-11-16T11:13:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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