Oregon Wave Energy Trust
Nonprofit profile at a glance
- EIN
- 208308559
- IRS 990 coverage
- 2010–2019
- Forms available
- Form 990 2019
- Location
- Portland, OR, USA
- Phone
- 5035245621
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $12,462
- Expenses
- $149,355
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- ROBERT BAILEY (PRESIDENT)
- JASON BUSCH (EXECUTIVE DIRECTOR)
Highest reported compensation
- JASON BUSCH (EXECUTIVE DIRECTOR): $100,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the Oregon wave energy trust (owet) is to become a central entity for wave energy-related development in Oregon. Guided by its stakeholders, the Oregon wave energy trust will build and share the expertise needed to support and accelerate the responsible development of the state's emerging wave energy industry.
What it reported doing in 2019
Research and development - implementing environmental and applied research projects to answer key questions leading to a reduction in barriers to wave energy development.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 93
- Accountability: 84
- Sustainability: 2
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -1,098.5%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: -18.2% per year; rating input score 0; 23rd percentile among comparable filings
- Asset growth: -21.2% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $100K · 4 people listed
- Consistency: 10 of 10 current checks pass
- Schedules: 5 filed schedules · includes grants
- Filing history: 10 filing years from 2010 to 2019
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 4/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Growth: Asset growth scored 0/100.