Civic Intelligence

Pacific Ocean Energy Trust

EIN 26-4646584 • 501(c)3 • Beaverton, OR

Profile

The mission of the organization is to promote and support responsible development of ocean renewable energy in the pacific region through education, outreach and research.

9450 SW Gemini Dr Pmb 50944Beaverton, OR 97008

pacificoceanenergy.org

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.29x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

43rd percentile

1.5%

Higher net margin than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

90th percentile

51%

Faster asset growth than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$1,037,995

Up $123,990 (+14%) from 2023

Liabilities

Up

$1,008,597

Up $69,406 (+7.4%) from 2023

Net Assets

Up

$29,398

Up $54,584 (+217%) from 2023

Revenue

Up

$3,522,722

Up $1,272,207 (+57%) from 2023

Expenses

Up

$3,468,138

Up $1,085,408 (+46%) from 2023

Net Income

Up

$54,584

Up $186,799 (+141%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2017: $610,171Liabilities 2017: $2,093Net Assets 2017: $608,0782017Assets 2018: $439,630Liabilities 2018: $21,215Net Assets 2018: $418,4152018Assets 2019: $390,298Liabilities 2019: $27,733Net Assets 2019: $362,5652019Assets 2020: $255,338Liabilities 2020: $67,907Net Assets 2020: $187,4312020Assets 2021: $411,631Liabilities 2021: $277,266Net Assets 2021: $134,3652021Assets 2022: $453,113Liabilities 2022: $346,084Net Assets 2022: $107,0292022Assets 2023: $914,005Liabilities 2023: $939,191Net Assets 2023: -$25,1862023Assets 2024: $1,037,995Liabilities 2024: $1,008,597Net Assets 2024: $29,3982024

Highlighted filing

2024

Assets$1,037,995
Liabilities$1,008,597
Net Assets$29,398

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $610,702Expenses 2017: $24,102Net Income 2017: $586,6002017Revenue 2018: $137,016Expenses 2018: $326,679Net Income 2018: -$189,6632018Revenue 2019: $317,628Expenses 2019: $374,221Net Income 2019: -$56,5932019Revenue 2020: $491,242Expenses 2020: $663,843Net Income 2020: -$172,6012020Revenue 2021: $1,138,682Expenses 2021: $1,191,750Net Income 2021: -$53,0682021Revenue 2022: $2,873,609Expenses 2022: $2,900,945Net Income 2022: -$27,3362022Revenue 2023: $2,250,515Expenses 2023: $2,382,730Net Income 2023: -$132,2152023Revenue 2024: $3,522,722Expenses 2024: $3,468,138Net Income 2024: $54,5842024

Highlighted filing

2024

Revenue$3,522,722
Expenses$3,468,138
Net Income$54,584

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$3,696,399
Mission and Program Overview

Mission

The mission of the organization is to promote and support responsible development of ocean renewable energy in the pacific region through education, outreach and research.

Building american energy resiliency through ocean-based technology and policy solutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$898,957$573,543▼ $325,414
Cash and Non-Interest-Bearing Accounts$15,007$462,790▲ $447,783
Land, Buildings, and Equipment, Net$41$1,662▲ $1,621
Total Assets$914,005$1,037,995▲ $123,990
Liabilities
Accounts Payable and Accrued Expenses$939,191$1,008,597▲ $69,406
Total Liabilities$939,191$1,008,597▲ $69,406
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-25,186$29,398▲ $54,584
Total Net Assets Fund Balance$-25,186$29,398▲ $54,584
Total Liabilities and Net Assets / Fund Balance$914,005$1,037,995▲ $123,990

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,662$1,915$3,577
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jason BuschSec/treas/exec DirectorFT$113,542$113,542
Samantha QuinnProgram DirectorFT$110,363$110,363

Board Members and Trustees

NameTitle
Kevin BanisterPresident
Justin KlureVice President
Dave RobertsonBoard Member
Simon GeerlofsBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$3,670,307
Program Service Revenue
$26,092
Investment Income
$0
Other Revenue
$-173,677
Change in Net Assets
$54,584

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,522,722
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,522,722
Total Revenue per Form 990
$3,522,722
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,895,449
Salaries, Compensation, and Employee Benefits$572,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,552,141--$2,552,141
Other Salaries and Wages$346,162$68,010-$414,172
Travel$181,458$19,603-$201,061
Current Officers, Directors, Trustees, and Key Employees$102,188$11,354-$113,542
Fees for Services Accounting-$53,835-$53,835
Payroll Taxes$38,211$6,764-$44,975
Fees for Services Other$44,229--$44,229
Information Technology-$24,976-$24,976
Office Expenses-$14,451-$14,451
Occupancy-$2,081-$2,081
Depreciation Depletion-$1,542-$1,542
Insurance-$1,133-$1,133
Total Functional Expenses$3,264,389$203,749$0$3,468,138

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,468,138
Total Expenses per Audited Statements$3,468,138
Total Expenses per Form 990$3,468,138
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$173,677
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ocean Renewable Energy Conference$154,572-$10,456-
Nw Offshore Wind Conference$133,762---
Total Events$288,334-$173,677$-173,677
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 has 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
Pacific Ocean Energy Trust
EIN
26-4646584
Phone
5035245621
Address
9450 SW GEMINI DR PMB 50944, BEAVERTON, OR 97008

Signing Officer

Name
Jason Busch
Title
Executive Director
Phone
5035245621
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Busch
Formed
2009
Legal Domicile
Or
Voting Board Members
5
Independent Board Members
4
Employees
6
Volunteers
0

Preparer

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

Financial Statement Notes

PART X, LINE 2:

Management believes the organization does not have any uncertain tax positions.

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01138682
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0491242
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010498902
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt01662
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01915
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03577
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03468138
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03522722
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT BELIEVES THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01662
IRS990ScheduleD/TotalExpensesPerForm990Amt03468138
IRS990ScheduleD/TotalRevenuePerForm990Amt03522722
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03522722
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03468138
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0288334
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0133762
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt0154572
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0173677
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0NW OFFSHORE WIND CONFERENCE
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0OCEAN RENEWABLE ENERGY CONFERENCE
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt060225
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt060225
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0133762
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt0154572
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0288334
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-173677
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt010456
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt010456
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt060574
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt042422
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0102996
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS 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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OR
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0914005
IRS990/TotalAssetsGrp/EOYAmt01037995
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03670307
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0203749
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03264389
IRS990/TotalFunctionalExpensesGrp/TotalAmt03468138
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0939191
IRS990/TotalLiabilitiesEOYAmt01008597
IRS990/TotalLiabilitiesGrp/BOYAmt0939191
IRS990/TotalLiabilitiesGrp/EOYAmt01008597
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-25186
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt029398
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03264389
IRS990/TotalProgramServiceRevenueAmt026092
IRS990/TotalReportableCompFromOrgAmt0223905
IRS990/TotalRevenueGrp/ExclusionAmt0-173677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt026092
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03522722
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0914005
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01037995
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt019603
IRS990/TravelGrp/ProgramServicesAmt0181458
IRS990/TravelGrp/TotalAmt0201061
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09450 SW GEMINI DR PMB 50944
IRS990/USAddress/CityNm0BEAVERTON
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097008
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0PACIFICOCEANENERGY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0PACI
ReturnHeader/Filer/EIN0264646584
ReturnHeader/Filer/PhoneNum05035245621
ReturnHeader/Filer/USAddress/AddressLine1Txt09450 SW GEMINI DR PMB 50944
ReturnHeader/Filer/USAddress/CityNm0BEAVERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097008
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
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

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