Civic Intelligence

Oregon Wave Energy Trust

990 • Fiscal year 2018 • EIN 20-8308559

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

Organization ProfileWWW.OREGONWAVE.ORG
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

75th percentile

0.11x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.28x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

96th percentile

$95,833

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 153.4% of source-year revenue.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Asset Growth

13th percentile

-27%

Faster asset growth than 13% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$155,387

Down $56,129 (-27%) from 2017

Net Assets

Up

$137,636

Up $7,210 (+5.5%) from 2017

Liabilities

Down

$17,751

Down $63,339 (-78%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin71st percentile

Revenue

Down

$62,473

Down $912,162 (-94%) from 2017

Expenses

Down

$55,263

Down $901,526 (-94%) from 2017

Net Income

Down

$7,210

Down $10,636 (-60%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

2018

Assets$155,387
Liabilities$17,751
Net Assets$137,636
Open 2018 Filing

Operations Trend

Revenue Growth1st percentile

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

2018

Revenue$62,473
Expenses$55,263
Net Income$7,210
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$62,473
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$208,062$149,492▼ $58,570
Accounts Receivable$736$3,939▲ $3,203
Land, Buildings, and Equipment, Net$2,060$1,396▼ $664
Cash and Non-Interest-Bearing Accounts$658$560▼ $98
Total Assets$211,516$155,387▼ $56,129
Liabilities
Deferred Revenue$70,699$16,401▼ $54,298
Accounts Payable and Accrued Expenses$10,391$1,350▼ $9,041
Total Liabilities$81,090$17,751▼ $63,339
Net Assets / Fund Balance
Unrestricted Net Assets$130,426$137,636▲ $7,210
Total Net Assets Fund Balance$130,426$137,636▲ $7,210
Total Liabilities and Net Assets / Fund Balance$211,516$155,387▼ $56,129

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,396$7,845$9,241
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Jason BuschExecutive DirectorFT$95,833$95,833

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
$62,473
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$7,210
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,093
Grants and Similar Amounts Paid$13,170
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$13,170
Occupancy---$8,616
Fees for Services Accounting---$4,583
Fees for Services Legal---$4,335
Office Expenses---$4,086
Depreciation Depletion---$665
Other Expenses---$474
Fees for Services Other---$350
Travel---$282
Total Functional Expenses$0$0$0$55,263
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Columbia Power Technologies IncCharlottesville, VA-Matching Research Funds$8,170
Oregon State UniversityCorvallis, OR-Research on Anchor Impact$5,000
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
2019-11-13
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
Raw XML Appendix344 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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IRS990/ProgSrvcAccomActy3Grp/Desc0RESEARCH AND DEVELOPMENT - IMPLEMENTING ENVIRONMENTAL AND APPLIED RESEARCH PROJECTS TO ANSWER KEY QUESTIONS LEADING TO A REDUCTION IN BARRIERS TO WAVE ENERGY DEVELOPMENT.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RESEARCH ON ANCHOR IMPACT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1MATCHING RESEARCH FUNDS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0OREGON STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1COLUMBIA POWER TECHNOLOGIES INC
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0312 KERR ADMINISTRATION BUILDING
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1236 EAST HIGH STREET
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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
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO CARRY OUT THE CHARITABLE PURPOSES RELATED TO AND IN SUPPORT OF OWET.
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt095833
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0211516
IRS990/TotalAssetsEOYAmt0155387
IRS990/TotalAssetsGrp/BOYAmt0211516
IRS990/TotalAssetsGrp/EOYAmt0155387
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt055263
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt017751
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IRS990/TotalProgramServiceRevenueAmt062473
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt062473
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt062473
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt095833
IRS990/TravelGrp/TotalAmt0282
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OREGON WAVE ENERGY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0OREG
ReturnHeader/Filer/EIN0208308559
ReturnHeader/Filer/PhoneNum05035245621
ReturnHeader/Filer/USAddress/AddressLine1Txt0240 N BROADWAY NO 128
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02019-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm016:45:03
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/ReturnTs02019-11-15T12:49:58-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$155,387
Liabilities
$17,751
Net assets
$137,636
Revenue
$62,473
Expenses
$55,263
Net income
$7,210
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.15$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.16$0.02$0.14$0.06$0.06$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.21$0.08$0.13$0.97$0.96$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.00$0.89$0.11$0.44$0.43$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.13$1.04$0.10$0.68$0.66$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.15$1.08$0.08$1.16$1.10$0.06
2013Detailed filing. Detailed filing data is available for this year.$1.43$1.42$0.02$1.44$1.44$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$1.50$0.04$1.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$1.82$0.02$1.57
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$1.61$0.21$0.94