Civic Intelligence

Pacific Ocean Energy Trust

990 • Fiscal year 2019 • EIN 26-4646584

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfilePACIFICOCEANENERGY.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

76th percentile

0.07x

Higher debt load relative to assets than 76% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.09x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

17th percentile

-18%

Higher net margin than 17% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

98th percentile

$100,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 31.5% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

28th percentile

-11%

Faster asset growth than 28% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

94th percentile

132%

Faster revenue growth than 94% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$390,298

Down $49,332 (-11%) from 2018

Net Assets

Down

$362,565

Down $55,850 (-13%) from 2018

Liabilities

Up

$27,733

Up $6,518 (+31%) from 2018

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin17th percentile

Revenue

Up

$317,628

Up $180,612 (+132%) from 2018

Expenses

Up

$374,221

Up $47,542 (+15%) from 2018

Net Income

Up

-$56,593

Up $133,070 (+70%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$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

2019

Assets$390,298
Liabilities$27,733
Net Assets$362,565
Open 2019 Filing

Operations Trend

Revenue Growth94th percentile

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

2019

Revenue$317,628
Expenses$374,221
Net Income-$56,593
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$317,628
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.

Poet is committed to the responsible development of marine renewable energy in the pacific region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$439,630$388,146▼ $51,484
Accounts Receivable-$1,409-
Land, Buildings, and Equipment, Net$0$731▲ $731
Cash and Non-Interest-Bearing Accounts-$12-
Total Assets$439,630$390,298▼ $49,332
Liabilities
Accounts Payable and Accrued Expenses$6,924$27,733▲ $20,809
Other Liabilities$14,291$0▼ $14,291
Total Liabilities$21,215$27,733▲ $6,518
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$418,415$362,565▼ $55,850
Total Net Assets Fund Balance$418,415$362,565▼ $55,850
Total Liabilities and Net Assets / Fund Balance$439,630$390,298▼ $49,332

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$731-$731
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jason BuschSec/treas/exec DirectorFT$100,000$100,000

Board Members and Trustees

NameTitle
Kevin BanisterPresident
Justin KlureVice President
Jim LanardBoard Member
Mike OlsenBoard Member
REBECCA O'NEILBoard Member
Stephanie McclellanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$148,381
Program Service Revenue
$169,247
Investment Income
$0
Other Revenue
$0
All Other Contributions
$148,381
Change in Net Assets
$-56,593
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$197,167
Other Expenses$177,054
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$100,000--$100,000
Other Salaries and Wages$79,102--$79,102
Payroll Taxes$18,065--$18,065
Fees for Services Other-$17,908-$17,908
Occupancy-$13,491-$13,491
Office Expenses-$2,063-$2,063
Information Technology-$1,625-$1,625
Other Expenses$136,092$1,323-$1,323
Insurance-$1,003-$1,003
Travel$678--$678
Total Functional Expenses$333,937$40,284$0$374,221
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
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
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
Pacific Ocean Energy Trust
EIN
26-4646584
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
2009
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
6
Employees
2
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 990, PART XI, LINE 9:

“Transfer from oregon wave energy trust 743.”

Raw XML AppendixShowing 400 of 411 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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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/ExplanationTxt5TRANSFER FROM OREGON WAVE ENERGY TRUST 743.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalProgramServiceExpensesAmt0333937
IRS990/TotalProgramServiceRevenueAmt0169247
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0169247
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0317628
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0PACIFICOCEANENERGY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02020-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm016:53:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0930743240
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOFFMAN STEWART & SCHMIDT PC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$390,298
Liabilities
$27,733
Net assets
$362,565
Revenue
$317,628
Expenses
$374,221
Net income
-$56,593
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$1.01$0.03$3.52$3.47$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.94$0.03$2.25$2.38$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.35$0.11$2.87$2.90$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.28$0.13$1.14$1.19$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.07$0.19$0.49$0.66$0.17
2019Detailed filing. Detailed filing data is available for this year.$0.39$0.03$0.36$0.32$0.37$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.44$0.02$0.42$0.14$0.33$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.61$0.02$0.59