Civic Intelligence

Oregon Wave Energy Trust

990 • Fiscal year 2017 • EIN 20-8308559

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

240 N Broadway No 128Portland, OR 97227-1881

(503) 524-5621

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.38x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

54th percentile

0.08x

Higher debt load relative to revenue than 54% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Net Margin

43rd percentile

1.8%

Higher net margin than 43% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

71st percentile

$103,958

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Asset Growth

1st percentile

-79%

Faster asset growth than 1% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

120%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$211,516

Down $787,739 (-79%) from 2016

Net Assets

Up

$130,426

Up $17,846 (+16%) from 2016

Liabilities

Down

$81,090

Down $805,585 (-91%) from 2016

Revenue

Up

$974,635

Up $531,560 (+120%) from 2016

Expenses

Up

$956,789

Up $528,776 (+124%) from 2016

Net Income

Up

$17,846

Up $2,784 (+18%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2017

Assets$211,516
Liabilities$81,090
Net Assets$130,426

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$974,635
Expenses$956,789
Net Income$17,846
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$974,635
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$983,058$208,062▼ $774,996
Land, Buildings, and Equipment, Net$1,930$2,060▲ $130
Accounts Receivable$13,524$736▼ $12,788
Cash and Non-Interest-Bearing Accounts$743$658▼ $85
Total Assets$999,255$211,516▼ $787,739
Liabilities
Deferred Revenue$866,807$70,699▼ $796,108
Accounts Payable and Accrued Expenses$19,868$10,391▼ $9,477
Total Liabilities$886,675$81,090▼ $805,585
Net Assets / Fund Balance
Unrestricted Net Assets$112,580$130,426▲ $17,846
Total Net Assets Fund Balance$112,580$130,426▲ $17,846
Total Liabilities and Net Assets / Fund Balance$999,255$211,516▼ $787,739

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,060$7,181$9,241
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jason BuschExecutive DirectorFT$103,958$103,958

Board Members and Trustees

NameTitle
Robert BaileyPresident
David GibsonBoard Member
Keith TymchukBoard Member
Nick EdwardsBoard Member
Preston MichieBoard Member
REBECCA O'NEILBoard Member
Robin HartmannBoard Member
Jack FlugSec Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$974,370
Investment Income
$265
Other Revenue
$0
Change in Net Assets
$17,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$527,970
Other Expenses$249,300
Salaries, Compensation, and Employee Benefits$179,519
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$527,970
Current Officers, Directors, Trustees, and Key Employees---$103,958
Other Salaries and Wages---$58,503
Payroll Taxes---$16,650
Occupancy---$15,557
Fees for Services Accounting---$9,695
Insurance---$3,376
Fees for Services Legal---$3,186
Other Expenses---$3,090
Travel---$2,716
Office Expenses---$2,619
Fees for Services Other---$808
Depreciation Depletion---$665
Other Employee Benefits---$408
Total Functional Expenses$0$0$0$956,789
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pacific Ocean Energy TrustPortland, OR-Expand Owet Mission and Build Or,wa,ca Entity With Related But Broader Mission Encompassing Other Types of Renewable Power Generation$527,821
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
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 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
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Busch
Formed
2007
Legal Domicile
Or
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
0

Preparer

Firm
Hoffman Stewart & Schmidt Pc
Address
3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-3295
Preparer
George H Hughes
Phone
5032205900
Raw XML Appendix385 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/ActivityOrMissionDesc0THE 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.
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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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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EXPAND OWET MISSION AND BUILD OR,WA,CA ENTITY WITH RELATED BUT BROADER MISSION ENCOMPASSING OTHER TYPES OF RENEWABLE POWER GENERATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION APPROVES GRANTS THAT ARE BUDGETED AND MEET WITH THE ORGANIZATIONS MISSION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAVE INDIVIDUAL AND BUSINESS MEMBERS WHO PAY DUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2DURING 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/ExplanationTxt3THE 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/ExplanationTxt4UPON REQUEST AND THROUGH THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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/PublicCharityStatusTxt0PF
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/InvolvedAmt0527821
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0GRANT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd01
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0999255
IRS990/TotalAssetsEOYAmt0211516
IRS990/TotalAssetsGrp/BOYAmt0999255
IRS990/TotalAssetsGrp/EOYAmt0211516
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/TotalAmt0956789
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0886675
IRS990/TotalLiabilitiesEOYAmt081090
IRS990/TotalLiabilitiesGrp/BOYAmt0886675
IRS990/TotalLiabilitiesGrp/EOYAmt081090
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0112580
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0130426
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0974370
IRS990/TotalReportableCompFromOrgAmt0103958
IRS990/TotalRevenueGrp/ExclusionAmt0974635
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0974635
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0999255
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0211516
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt02716
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0112580
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0130426
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0240 N BROADWAY STE 128
IRS990/USAddress/CityNm0PORTLAND
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd0972271881
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.OREGONWAVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
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/AtSubmissionCreationDeviceId0262FFB844F3C91DE2A6E4E2F004C94BC795BC429
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DB3DCCB4978D7BE105531DC29C27E4E686A2BFD1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm015:00:02
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/ZIPCd0970353295
ReturnHeader/PreparerPersonGrp/PhoneNum05032205900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GEORGE H HUGHES
ReturnHeader/ReturnTs02018-11-15T18:36:55-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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