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Nonprofit · EIN 26-4646584

PACIFIC OCEAN ENERGY TRUST

Tax-exempt (reinstated) · BEAVERTON, OR 97008

Financials

$2.3M$2.4M2023$3.5M$3.5M2024
Revenue Expenses · by fiscal year end
Financials of PACIFIC OCEAN ENERGY TRUST by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$3,522,722$3,468,138$54,584$1,037,995$1,008,597$29,398
December 31, 2023990$2,250,515$2,382,730-$132,215$914,005$939,191-$25,186
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$3,670,307
of which government grants
$3,381,973
Program service revenue
$26,092
Investment income
$0
Net income from fundraising events
-$173,677
Other revenue
-$173,677

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$113,542
Other salaries and wages
$414,172
Salaries, compensation and benefits (total)
$572,689
Professional fundraising fees
$0
Accounting fees
$53,835
Occupancy
$2,081
Travel
$201,061
Depreciation
$1,542
Program services (functional)
$3,264,389
Management and general (functional)
$203,749

Balance sheet and other

Total assets, start of year
$914,005
Total assets, end of year
$1,037,995
Total liabilities, end of year
$1,008,597
Net assets, end of year
$29,398
Land, buildings and equipment
$1,662
Net assets without donor restrictions
$29,398
Gross receipts
$3,696,399
Employees
6
Volunteers
0
Year formed
2009
State of legal domicile
OR

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JASON BUSCHSEC/TREAS/EXEC DIRECTOR
Trustee or director, Officer
40$113,542
SAMANTHA QUINNPROGRAM DIRECTOR
Highest-paid employee
40$110,363
KEVIN BANISTERPRESIDENT
Trustee or director, Officer
1$0
JUSTIN KLUREVICE PRESIDENT
Trustee or director, Officer
1$0
DAVE ROBERTSONBOARD MEMBER
Trustee or director, Officer
1$0
SIMON GEERLOFSBOARD MEMBER
Trustee or director, Officer
1$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
JASON BUSCHSEC/TREAS/EXEC DIRECTOR
Trustee or director, Officer
40$100,000
KEVIN BANISTERPRESIDENT
Trustee or director, Officer
1$0
JUSTIN KLUREVICE PRESIDENT
Trustee or director, Officer
1$0
DAVE ROBERTSONBOARD MEMBER
Trustee or director, Officer
1$0
SIMON GEERLOFSBOARD MEMBER
Trustee or director, Officer
1$0

Address and contacts

Address (IRS master file)
9450 SW GEMINI DR PMB 50944, BEAVERTON, OR 97008-7105
In care of
% JASON BUSCH
Mailing address (990-N for 2016)
240 N Broadway Ste 128, Portland OR 97227
Principal officer (990 for 2024)
JASON BUSCH, 9450 SW GEMINI DR PMB 50944, BEAVERTON, OR 97008
Principal officer (990-N for 2016)
Jason Busch, 240 N Broadway Ste 128, Portland OR 97227
Signed the 990
JASON BUSCH, EXECUTIVE DIRECTOR
Phone
(503) 524-5621
Return prepared by
HOFFMAN STEWART & SCHMIDT PC

Mission

BUILDING AMERICAN ENERGY RESILIENCY THROUGH OCEAN-BASED TECHNOLOGY AND POLICY SOLUTIONS.

990 for the year ended December 31, 2024

Program accomplishments

  • THE ORGANIZATION SUPPORTS THE RESPONSIBLE DEVELOPMENT OF OCEAN ENERGY. GROWING OUT OF THE OREGON WAVE ENERGY TRUST, THE ORGANIZATION BRINGS FIFTEEN YEARS OF EXPERIENCE WORKING ON ISSUES RELATING TO OCEAN ENERGY DEVELOPMENT, WITH A SPECIAL EMPHASIS ON POLICY AND REGULATORY MATTERS, BETTER UNDERSTANDING OF ENVIRONMENTAL EFFECTS OF OCEAN ENERGY, AND STAKEHOLDER ENGAGEMENT.
    Expenses $3,264,389 · revenue $26,092

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
26-4646584
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2016
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Environment (C30)
Assets (IRS master file)
$1,037,995
Income (IRS master file)
$3,696,399

Revocation and reinstatement

Exemption revoked
May 15, 2012
Posted by the IRS
March 11, 2013
Reinstated
Effective May 15, 2012

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$3,522,722$3,468,138$1,037,995IRS
990December 2023$2,250,515$2,382,730$914,005XML
990December 2022$2,873,609$2,900,945$453,113IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS
990December 2017–––IRS
990-N for 2016
Officer: Jason Busch
December 31, 2016≤ $50,000 receipts––e-Postcard

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-4646584).

Questions about PACIFIC OCEAN ENERGY TRUST

What is the EIN of PACIFIC OCEAN ENERGY TRUST?
The employer identification number (EIN) of PACIFIC OCEAN ENERGY TRUST is 26-4646584.
Is PACIFIC OCEAN ENERGY TRUST tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2012 and reinstated it effective May 15, 2012.
Are donations to PACIFIC OCEAN ENERGY TRUST tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PACIFIC OCEAN ENERGY TRUST file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PACIFIC OCEAN ENERGY TRUST due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PACIFIC OCEAN ENERGY TRUST last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PACIFIC OCEAN ENERGY TRUST?
The 990 for the year ended December 31, 2024 names JASON BUSCH.
Who are the officers and directors of PACIFIC OCEAN ENERGY TRUST?
The 990 for the year ended December 31, 2024 lists 6 people; 2 received compensation from the organization, the highest $113,542 (JASON BUSCH, SEC/TREAS/EXEC DIRECTOR).
How much revenue does PACIFIC OCEAN ENERGY TRUST have?
On its 990 for the year ended December 31, 2024 it reported revenue of $3,522,722, expenses of $3,468,138 and total assets of $1,037,995 at year end.

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