Pacific Ocean Energy Trust

Analysis

Pacific Ocean Energy Trust is a registered charity in United States, based in Beaverton, OR. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Pacific Ocean Energy Trust reported income of $2.3m and spending of $2.4m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $318k to $2.3m (+609%), an average of +63% a year. The sharpest change came in the year to December 2022, when income rose by 152%. Over the whole period it spent 106% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Pacific Ocean Energy Trust sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within OR. Charities of a similar size with the same main cause include Blackfoot Challenge Inc ($2.3m), Conservation Allies ($2.3m) and Golden State Land Conservancy Incorporated ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $100k (4.2% of expenses). Other salaries and wages came to $295k. At year end it held assets of $914k against liabilities of $939k, net assets of -$25k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.