Perlan Project Inc
- Assets
- $1.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Beaverton, OR
- Founding
- 01/2011
- Data as of
- 12/2021
- EIN
- 27-2151721
Organization Overview
Perlan Project Inc is located in Beaverton, OR. The organization was established in 2011. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Perlan Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Perlan Project Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO REACH THE EDGE OF SPACE AND STUDY HOW GIANT STRATOSPHERIC MOUNTAIN WAVES IMPACT OUR PLANET'S WEATHER. THIS IS ACCOMPLISHED IN THREE PHASES, OR MISSIONS. MISSION I PROVED THAT THE HIGHEST MOUNTAIN WAVES COULD OPEN THE DOOR TO THE EDGE OF SPACE FOR GLIDERS. MISSION II WILL USE A PRESSURIZED GLIDER TO REACH 90,000 FEET. MISSION III WILL ADD TRANSONIC CAPABILITIES AND REACH 100,000.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AERODYNAMIC ADVANCEMENT: UPGRADES AND TESTS OF THE PERLAN 2 AIRCRAFT. INDIVIDUALS INVOLVED IN THE PROJECT PAY FOR THEIR OWN TRAVEL AND OTHER PROJECT RELATED EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Sandercock Project Manager | Trustee | 38.5 | $37,413 |
Jim Payne Chairman | OfficerTrustee | 38.5 | $34,256 |
Tim Gardner Member At Large | Trustee | 28.8 | $31,875 |
Edward Warnock CEO | OfficerTrustee | 38.5 | $15,125 |
Miguel Iturmendi Member At Large | Trustee | 4.8 | $5,000 |
Preston Michie Secretary Treasurer | OfficerTrustee | 4.8 | $4,663 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,310,745 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,310,745 |
| Total Program Service Revenue | $0 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,310,788 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,663 |
| Fees for services: Accounting | $5,268 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,501 |
| Office expenses | $1,196 |
| Information technology | $1,168 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $92,192 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $535,501 |
| Insurance | $4,501 |
| All other expenses | $4,050 |
| Total functional expenses | $1,062,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $653,794 |
| Savings and temporary cash investments | $54,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $570,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,278,425 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,278,425 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,278,425 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Perlan Project Inc has recieved totaling $14,420.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,210 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,210 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Space Grant Foundation Inc Albany, OR | $2,928,513 | $2,097,734 |
Vertuelab Portland, OR | $3,945,647 | $2,326,583 |
The National Academies Corporation Irvine, CA | $20,487,959 | $666,842 |
Idaho Stem Action Center Foundation Boise, ID | $98 | $1,140,460 |
Perlan Project Inc Beaverton, OR | $1,278,425 | $1,310,788 |
Unitary Fund San Francisco, CA | $608,944 | $1,005,122 |
California Grape Rootstock Research Foundation Sacramento, CA | $1,990,350 | $369,642 |
Center For The Study Of Partisanship And Ideology Sierra Madre, CA | $676,619 | $24,000 |
Usrca Lafayette, CA | $53,783 | $117,540 |
Siebel Energy Institute Redwood City, CA | $0 | $0 |
Science Partnership Fund Pasadena, CA | $2,622 | $0 |
Bill Nye Science Foundation Los Angeles, CA | $224,364 | $0 |