Overview
What is Pacific Ocean Energy Trust?
Pacific Ocean Energy Trust is a nonprofit organization based in Beaverton, Oregon, dedicated to fostering responsible development of marine renewable energy in the Pacific region. With a rich history spanning fifteen years, the organization has built a strong foundation in issues surrounding marine renewable energy development, focusing particularly on policy, regulatory matters, and environmental impact assessments. The organization also engages with key stakeholders and supports the development of various marine renewable technologies, including offshore wind, tidal, and wave energy. In line with its mission, Pacific Ocean Energy Trust works tirelessly to promote ocean-based climate solutions and strives to educate, reach out, and conduct research to achieve its goals. The organization's commitment to responsible development and its dedication to a cleaner future makes it an important player in the fight against climate change.
Official website here: www.pacificoceanenergy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85%, Three-Star out of Four Star rating on Charity Navigator.
Pacific Ocean Energy Trust has received a Three-Star rating from Charity Navigator, with an overall score of 85%. This rating reflects a strong focus on accountability and finance, as evidenced by the charity's impressive performance in various financial metrics. The charity has a high program expense ratio of 94.30%, indicating that the majority of its funds are directed towards its programs rather than administrative costs.
The organization benefits from a governance structure that includes a majority of independent board members, ensuring a level of oversight and minimizing conflicts of interest. Their policies, such as conflict of interest and whistleblower protections, are well-documented and publicly accessible. Additionally, there are no reported issues with material diversion of assets, which contributes positively to their accountability score.
However, the organization’s liabilities to assets ratio stands at 76.37%, which may raise concerns regarding its financial stability. While their high accountability score is commendable, potential donors might want to consider this aspect when assessing the overall health of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Pacific Ocean Energy Trust legitimate?
Pacific Ocean Energy Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pacific Ocean Energy Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $100,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $282,137
For more financial information, click here
Official website here: www.pacificoceanenergy.org
What is the mission statement of Pacific Ocean Energy Trust?
The Pacific Ocean Energy Trust is dedicated to fostering ocean-based climate solutions. Its primary mission is to promote and support the responsible development of ocean renewable energy in the Pacific region through education, outreach, and research. The organization's activities focus on the responsible development of marine renewable energy, with a particular emphasis on policy and regulatory matters, understanding environmental effects of marine renewables, and stakeholder engagement. The trust supports the development of various marine renewable technologies, including offshore wind, tidal, and wave energy.
Official website here: www.pacificoceanenergy.org
Who is the CEO of Pacific Ocean Energy Trust?
Jason Busch is the President of Pacific Ocean Energy Trust.
Official website here: www.pacificoceanenergy.org
What is the revenue of Pacific Ocean Energy Trust?
Pacific Ocean Energy Trust's revenue in 2022 was $2,873,609.
Official website here: www.pacificoceanenergy.org
Who are the executives of Pacific Ocean Energy Trust and what are their salaries?
The average compensation at Pacific Ocean Energy Trust during 2022 was $76,427. There are 5 employees at Pacific Ocean Energy Trust.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $100,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.pacificoceanenergy.org
Where can I find the form 990 for Pacific Ocean Energy Trust?
Pacific Ocean Energy Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pacificoceanenergy.org
Learn more at the official website: www.pacificoceanenergy.org
Mission Statement of Pacific Ocean Energy Trust
The Pacific Ocean Energy Trust, a pioneering organization, is dedicated to championing ocean-based solutions for addressing climate change. Its primary mission is to foster the responsible development of ocean renewable energy in the Pacific region. The Trust achieves this objective through three key avenues: education, outreach, and research.
With a rich history of fifteen years in the field of marine renewable energy development, the Trust brings significant expertise to the table, particularly in matters of policy, regulation, and environmental impact. The Trust aims to advance all types of marine renewable technologies, including offshore wind, tidal, and wave energy, to contribute to a sustainable energy future.
In addition to promoting the development of these technologies, the Trust also places a strong emphasis on stakeholder engagement, ensuring diverse voices are heard in the conversation around marine renewables. By doing so, the Trust contributes to a more informed and inclusive decision-making process, ultimately leading to more responsible and effective energy solutions for the Pacific region.
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Impact
June, 2024
Pacific Ocean Energy Trust's impact is significant in promoting ocean-based climate solutions and supporting the responsible development of marine renewable energy in the Pacific region. With fifteen years of experience in marine renewable energy development, the organization focuses on policy and regulatory matters, understanding environmental effects, and engaging stakeholders. By supporting the development of various marine renewable technologies such as offshore wind, tidal, and wave energy, the trust is actively working towards a sustainable future for the Pacific region.
This information is meant to be a general summary of Pacific Ocean Energy Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $63,558
- Gross Receipts: $2,922,064
Assets and Liabilities:
- Total Assets: $453,113
- Total Liabilities: $346,084
- Net Assets: $107,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$43,500
GOVERNMENT CONTRACTS
Revenue
$12,500
MISCELLANEOUS REVENUE
Revenue
$6,058
PROGRAM SERVICE FEES
Revenue
$1,500
Organization Details
Founding Year
2009
Phone
(503) 524-5621Principal Officer
Jason Busch
Main Address
9450 SW GEMINI DR PMB 50944, BEAVERTON, OR, 97008
Website
www.pacificoceanenergy.orgNTEE Category
Code: C30 - Environment
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