The Perlan Project Inc

Nonprofit profile at a glance

EIN
272151721
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Beaverton, OR, USA
Phone
5036430544
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$563,879
Expenses
$701,427
Assets
$665,840
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • EDWARD WARNOCK (CEO)

Highest reported compensation

  • MORGAN SANDERCOCK (PROJECT MANAGER): $117,764 total reported compensation
  • JIM PAYNE (CHAIRMAN): $56,377 total reported compensation
  • EDWARD WARNOCK (CEO): $43,565 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Use zero emission, high altitude gliders flying in the lower stratosphere up to the edge of space to gather data on conditions both natural and introduced by human activities that impact our planet's weather and climate .

What it reported doing in 2024

Make upgrades to the perlan 2 pressurized research glider in preparation for conducting further studies of the stratospheric mountain wave generated by the polar vortex over the southern andes. Modify and fly a glider to carry a specially built jet engine fueled by hydrogen to study whether larger stratospheric contrails containing only water may persist and form contrail-cirrus cloud decks that while cleaning the atmosphere might unintentionally accelerate global warming if aircraft of the future are fueled by clean hydrogen.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 90
  • Accountability: 49
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.6%; rating input score 96
  • Fundraising efficiency: $139.93 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 44.4%; rating input score 44; 11th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -24.4%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.95; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 37.8%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: -9.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -23.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.6% of spending went to programs
  • Governance: 4 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $671K in reported program spending
  • Leadership: top reported pay $118K · 9 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • Moderate — Accountability: Independent voting board scored 44/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.