Civic Intelligence

The Perlan Project Inc

990 • Fiscal year 2018 • EIN 27-2151721

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

7415 SW Hart PlBeaverton, OR 97008

(503) 643-0544

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

1st percentile

-660%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

3rd percentile

-35%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

100th percentile

5414%

Faster revenue growth than 100% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,789,839

Down $1,516,040 (-35%) from 2017

Net Assets

Down

$2,789,839

Down $1,516,040 (-35%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Up

$229,830

Up $225,662 (+5414%) from 2017

Expenses

Up

$1,745,870

Up $223,913 (+15%) from 2017

Net Income

Up

-$1,516,040

Up $1,749 (+0.1%) from 2017

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2015: $7,218,265Liabilities 2015: $0Net Assets 2015: $7,218,2652015Assets 2016: $5,823,668Liabilities 2016: $0Net Assets 2016: $5,823,6682016Assets 2017: $4,305,879Liabilities 2017: $0Net Assets 2017: $4,305,8792017Assets 2018: $2,789,839Liabilities 2018: $0Net Assets 2018: $2,789,8392018Assets 2019: $1,623,037Liabilities 2019: $0Net Assets 2019: $1,623,0372019Assets 2020: $1,030,536Liabilities 2020: $0Net Assets 2020: $1,030,5362020Assets 2021: $1,278,425Liabilities 2021: $0Net Assets 2021: $1,278,4252021Assets 2022: $1,489,134Liabilities 2022: $0Net Assets 2022: $1,489,1342022Assets 2023: $803,388Liabilities 2023: $0Net Assets 2023: $803,3882023Assets 2024: $665,840Liabilities 2024: $0Net Assets 2024: $665,8402024

Highlighted filing

2018

Assets$2,789,839
Liabilities$0
Net Assets$2,789,839

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2015: $2,879,085Expenses 2015: $346,921Net Income 2015: $2,532,1642015Revenue 2016: $39,835Expenses 2016: $1,434,432Net Income 2016: -$1,394,5972016Revenue 2017: $4,168Expenses 2017: $1,521,957Net Income 2017: -$1,517,7892017Revenue 2018: $229,830Expenses 2018: $1,745,870Net Income 2018: -$1,516,0402018Revenue 2019: $826,796Expenses 2019: $1,993,598Net Income 2019: -$1,166,8022019Revenue 2020: $520,685Expenses 2020: $1,113,186Net Income 2020: -$592,5012020Revenue 2021: $1,310,788Expenses 2021: $1,062,899Net Income 2021: $247,8892021Revenue 2022: $860,423Expenses 2022: $649,714Net Income 2022: $210,7092022Revenue 2023: $602,749Expenses 2023: $1,288,495Net Income 2023: -$685,7462023Revenue 2024: $563,879Expenses 2024: $701,427Net Income 2024: -$137,5482024

Highlighted filing

2018

Revenue$229,830
Expenses$1,745,870
Net Income-$1,516,040
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$229,830
Mission and Program Overview

Mission

To reach the edge of space and study how giant stratospheric mountain waves impact our planet's weather. This is accomplished in three phases, or missions. Mission i proved that the highest mountain waves could open the door to the edge of space for gliders. Mission ii will use a pressurized glider to reach 90,000 feet. Mission iii will add transonic capabilities and reach 100,000. The goals of mission ii are four-part. Aeronautical exploration: push the frontiers of flight by soaring into near space. Aerodynamic advancement: apply upper atmosphere understanding to improve high altitude and extra-planetary flight. Meteorological research: investigate the impact of stratospheric waves on global weather patterns and atmospheric chemistry. Education: inspire future generations to pursue careers in math, science, and research.

To reach the edge of space and study how giant stratospheric mountain waves impact our planet's weather. This is accomplished in three phases, or missions. Mission i proved that the highest mountain waves could open the door to the edge of space for gliders. Mission ii will use a pressurized glider to reach 90,000 feet. Mission iii will add transonic capabilities and reach 100,000.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,538,508$2,527,506▼ $1,011,002
Savings and Temporary Cash Investments$762,430$228,393▼ $534,037
Cash and Non-Interest-Bearing Accounts$4,941$33,940▲ $28,999
Total Assets$4,305,879$2,789,839▼ $1,516,040
Liabilities
Other Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$4,305,879$2,789,839▼ $1,516,040
Total Net Assets Fund Balance$4,305,879$2,789,839▼ $1,516,040
Total Liabilities and Net Assets / Fund Balance$4,305,879$2,789,839▼ $1,516,040

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,527,506$2,527,506$5,055,012
Compensation and Service Providers

Board Members and Trustees

NameTitle
Einar EnevoldsonChairman of the Board
Stephane FymatChairman of the Fundraisin
Ed WarnockCEO
Jacqueline PayneChief Logistics Officer
Jim PayneChief Pilot
Elizabeth AustinChief Scientist
Doug PerrenodMember at Large
Tim GardnerMember at Large
Morgan SandercockProject Manager
Preston MichieSecretary Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Av Experts LLCAudio And Visual Services3511 SILVERSIDE RD STE 105, Wilmington, DE 19810$257,000
Revenue and Support

Revenue Composition

Contributions and Grants
$227,545
Program Service Revenue
$0
Investment Income
$960
Other Revenue
$1,325
All Other Contributions
$227,545
Change in Net Assets
$-1,516,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,745,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,011,002--$1,011,002
Office Expenses$283,678$40,062-$323,740
Travel$128,788$14,172-$142,960
Insurance$27,416$3,988-$31,404
Other Expenses$15,823--$15,823
Advertising-$15,755-$15,755
All Other Expenses$5,328--$5,328
Occupancy$4,433$114-$4,547
Fees for Services Accounting-$4,393-$4,393
Fees for Services Legal-$3,783-$3,783
Information Technology-$3,168-$3,168
Total Functional Expenses$1,660,435$85,435$0$1,745,870
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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 B, Line 11B

The form 990 is emailed to the board of directors prior to filing.

Form 990, Part VI, Section B, Line 12C

The ceo interviews the board of directors.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Perlan Project Inc
EIN
27-2151721
Phone
5036430544
Address
7415 SW HART PL, BEAVERTON, OR 97008

Signing Officer

Name
Edward Warnock
Title
CEO
Phone
5036430544
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Warnock
Formed
2010
Legal Domicile
Or
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
50

Preparer

Firm
Hoffman Stewart & Schmidt Pc
Address
3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-8663
Preparer
Todd D Massinger
Phone
5032205900
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0762430
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0228393
IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE PERLAN PROJECT WAS ORGANIZED IN 2010 AND IS TAX EXEMPT UNDER IRC SEC. 501(C)(3). THE ORGANIZATION RECEIVES ITS SUPPORT FROM DONATIONS MADE BY THE GENERAL PUBLIC, HOWEVER, SINCE FORMING IN 2010, THE ORGANIZATION HAS BEEN FORTUNATE TO RECEIVE A SUBSTANTIAL AMOUNT OF CONTRIBUTIONS FROM 3 DONORS TOTALING $5,346,000. AS SUCH, THE ORGANIZATION'S PUBLIC SUPPORT PERCENTAGE HAS DROPPED BELOW 33 1/3%. THE ORGANIZATION HAS INSTITUTED A PROGRAM TO SOLICIT DONATIONS FROM THE PUBLIC THROUGH THEIR WEBSITE, AIRSHOWS, AND INCREASING PUBLIC AWARENESS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0DESCRIPTION: MISSION SPONSORSHIP DATE: 08/06/14 AMOUNT: 2450000. DESCRIPTION: MISSION SPONSORSHIP DATE: 10/26/15 AMOUNT: 2000000.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0227545
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03355
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt037861
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0877630
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt010176
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01156567
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0960
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0813
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01274
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01335
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0971
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt05353
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01325
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0700
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0120
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02145
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.14920
IRS990ScheduleA/PublicSupportPY170Pct00.09450
IRS990ScheduleA/PublicSupportTotal170Amt0173691
IRS990ScheduleA/SubstantialContributorsTotAmt0982876
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0227545
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03355
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt037861
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0877630
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt010176
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01156567
IRS990ScheduleA/TotalSupportAmt01164065
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/OtherLandBuildingsGrp/BookValueAmt02527506
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02527506
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05055012
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02527506
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS EMAILED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CEO INTERVIEWS THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 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/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04305879
IRS990/TotalAssetsEOYAmt02789839
IRS990/TotalAssetsGrp/BOYAmt04305879
IRS990/TotalAssetsGrp/EOYAmt02789839
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0227545
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085435
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01660435
IRS990/TotalFunctionalExpensesGrp/TotalAmt01745870
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04305879
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02789839
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01660435
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02285
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0229830
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04305879
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02789839
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt014172
IRS990/TravelGrp/ProgramServicesAmt0128788
IRS990/TravelGrp/TotalAmt0142960
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt04305879
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02789839
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07415 SW HART PL
IRS990/USAddress/CityNm0BEAVERTON
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097008
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0PERLANPROJECT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWARD WARNOCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05036430544
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PERLAN PROJECT INC
ReturnHeader/Filer/BusinessNameControlTxt0PERL
ReturnHeader/Filer/EIN0272151721
ReturnHeader/Filer/PhoneNum05036430544
ReturnHeader/Filer/USAddress/AddressLine1Txt07415 SW HART PL
ReturnHeader/Filer/USAddress/CityNm0BEAVERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097008
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07EAFB99BCF2E9808B7B0E1594DCA911BDF9B3F02
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03490557827B2F11B3E9022A25F961428F54FEF16
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02019-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm010:58:27
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/PreparerPersonNm0TODD D MASSINGER

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