Civic Intelligence

Pacific Ocean Energy Trust

990 • Fiscal year 2020 • EIN 26-4646584

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfilePACIFICOCEANENERGY.ORG
6700 SW 105th Ave No 204Beaverton, OR 97008

(503) 524-5621

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.27x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.14x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

16th percentile

-35%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

98th percentile

$100,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 20.4% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

12th percentile

-35%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

55%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$255,338

Down $134,960 (-35%) from 2019

Net Assets

Down

$187,431

Down $175,134 (-48%) from 2019

Liabilities

Up

$67,907

Up $40,174 (+145%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin16th percentile

Revenue

Up

$491,242

Up $173,614 (+55%) from 2019

Expenses

Up

$663,843

Up $289,622 (+77%) from 2019

Net Income

Down

-$172,601

Down $116,008 (-205%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2020

Assets$255,338
Liabilities$67,907
Net Assets$187,431
Open 2020 Filing

Operations Trend

Revenue Growth89th 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

2020

Revenue$491,242
Expenses$663,843
Net Income-$172,601
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$491,242
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$388,146$149,617▼ $238,529
Accounts Receivable$1,409$102,771▲ $101,362
Land, Buildings, and Equipment, Net$731$1,499▲ $768
Cash and Non-Interest-Bearing Accounts$12$1,451▲ $1,439
Total Assets$390,298$255,338▼ $134,960
Liabilities
Unsecured Notes Loans Payable-$35,458-
Accounts Payable and Accrued Expenses$27,733$32,449▲ $4,716
Total Liabilities$27,733$67,907▲ $40,174
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$362,565$187,431▼ $175,134
Total Net Assets Fund Balance$362,565$187,431▼ $175,134
Total Liabilities and Net Assets / Fund Balance$390,298$255,338▼ $134,960

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,499-$1,499
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
REBECCA O'NEILBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$473,742
Program Service Revenue
$17,500
Investment Income
$0
Other Revenue
$0
All Other Contributions
$25,260
Change in Net Assets
$-172,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$411,133
Salaries, Compensation, and Employee Benefits$252,710
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$373,190--$373,190
Other Salaries and Wages$133,363--$133,363
Current Officers, Directors, Trustees, and Key Employees$100,000--$100,000
Payroll Taxes$19,347--$19,347
Occupancy-$18,654-$18,654
Fees for Services Accounting-$9,176-$9,176
Office Expenses-$5,681-$5,681
All Other Expenses-$1,571-$1,571
Fees for Services Other-$1,363-$1,363
Insurance-$1,003-$1,003
Information Technology-$312-$312
Travel$183--$183
Total Functional Expenses$626,083$37,760$0$663,843
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 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
6700 SW 105TH AVE NO 204, BEAVERTON, OR 97008

Signing Officer

Name
Jason Busch
Title
Executive Director
Phone
5035245621
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Busch
Formed
2009
Legal Domicile
Or
Voting Board Members
4
Independent Board Members
3
Employees
3
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 Appendix349 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 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.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0390298
IRS990/TotalAssetsEOYAmt0255338
IRS990/TotalAssetsGrp/BOYAmt0390298
IRS990/TotalAssetsGrp/EOYAmt0255338
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0473742
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt037760
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0626083
IRS990/TotalFunctionalExpensesGrp/TotalAmt0663843
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027733
IRS990/TotalLiabilitiesEOYAmt067907
IRS990/TotalLiabilitiesGrp/BOYAmt027733
IRS990/TotalLiabilitiesGrp/EOYAmt067907
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0362565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0187431
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0626083
IRS990/TotalProgramServiceRevenueAmt017500
IRS990/TotalReportableCompFromOrgAmt0100000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt017500
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0491242
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0390298
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0255338
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0183
IRS990/TravelGrp/TotalAmt0183
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt035458
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06700 SW 105TH AVE STE 204
IRS990/USAddress/CityNm0BEAVERTON
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097008
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0PACIFICOCEANENERGY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON BUSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PACIFIC OCEAN ENERGY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0PACI
ReturnHeader/Filer/EIN0264646584
ReturnHeader/Filer/PhoneNum05035245621
ReturnHeader/Filer/USAddress/AddressLine1Txt06700 SW 105TH AVE NO 204
ReturnHeader/Filer/USAddress/CityNm0BEAVERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097008
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/ReturnTs02021-11-12T17:46:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JASON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BUSCH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$255,338
Liabilities
$67,907
Net assets
$187,431
Revenue
$491,242
Expenses
$663,843
Net income
-$172,601
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
2020Detailed filing. Detailed filing data is available for this year.$0.26$0.07$0.19$0.49$0.66$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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