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Nonprofiteer
← PROJECT INNERSPACE INC

Form 990 for tax year 2023

Filed by PROJECT INNERSPACE INC.

Totals

Total revenue
$7,587,403
Total expenses
$3,589,552
Contributions and grants received
$7,571,907
Grants paid
$1,055,337
Program service revenue
$0
Investment income
$14,469
Other revenue
$1,027
Total assets, end of year
$4,864,858
Total liabilities, end of year
$166,563
Net assets or fund balances, end of year
$4,698,295
Program services expenses (Part IX)
$3,153,299
Management and general expenses
$245,311
Fundraising expenses
$190,942
Program service expenses (Part III)
$3,153,299

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $7,571,907

  • 3 · Investment income

    total $14,469 · excluded $14,469

  • 10a · Gross sales of inventory

    $641

  • 10b · Cost of goods sold

    $803

  • 10c · Net income from sales of inventory

    total -$162 · related or exempt -$162

  • 11d · All other revenue

    total $1,189 · excluded $1,189

  • 11e · Other revenue, total

    $1,189

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $95,579 · program services $95,579

  • 3 · Grants to foreign organizations and individuals

    total $959,758 · program services $959,758

  • 5 · Compensation of officers, directors and key employees

    total $240,000 · program services $168,000 · management and general $24,000 · fundraising $48,000

  • 7 · Other salaries and wages

    total $413,782 · program services $289,648 · management and general $41,378 · fundraising $82,756

  • 9 · Other employee benefits

    total $24,169 · program services $16,918 · management and general $2,417 · fundraising $4,834

  • 10 · Payroll taxes

    total $53,729 · program services $37,610 · management and general $5,373 · fundraising $10,746

  • 11b · Fees: legal

    total $32,337 · program services $26,000 · management and general $6,337

  • 11c · Fees: accounting

    total $97,995 · management and general $97,995

  • 11g · Fees: other

    total $933,828 · program services $915,980 · management and general $17,848

  • 12 · Advertising and promotion

    total $86,354 · program services $86,354

  • 13 · Office expenses

    total $28,482 · program services $16,517 · management and general $11,965

  • 14 · Information technology

    total $143,556 · program services $143,556

  • 17 · Travel

    total $89,212 · program services $44,606 · fundraising $44,606

  • 19 · Conferences, conventions and meetings

    total $386,370 · program services $352,773 · management and general $33,597

  • 23 · Insurance

    total $4,401 · management and general $4,401

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $757,291 · end of year $70,239

  • 2 · Savings and temporary cash investments

    end of year $3,289,818

  • 3 · Pledges and grants receivable

    beginning of year $5,000 · end of year $1,504,801

  • 17 · Accounts payable and accrued expenses

    beginning of year $61,847 · end of year $166,563

  • 27 · Net assets without donor restrictions

    beginning of year $700,444 · end of year $3,198,295

  • 28 · Net assets with donor restrictions

    end of year $1,500,000

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO MAKE THE PRODUCTION OF CLEAN, ALWAYS ON GEOTHERMAL ENERGY POSSIBLE ANYWHERE IN THE WORLD BY 2030.

  • PROJECT INNERSPACE FACILITATES, THROUGH GRANTS TO A GLOBAL TEAM OF EXPERTS, THE RESEARCH AND DEVELOPMENT OF GEOMAP, A GEOTHERMAL AND RESOURCE PROSPECT MAP THAT WILL HELP STAKEHOLDERS WORLDWIDE MINIMIZE THE RISKS ASSOCIATED WITH ACCESSING APPROPRIATE GEOTHERMAL RESOURCES. GEOMAP DEBUTED IN DUBAI IN NOVEMBER 2023 WITH THE RELEASE OF ITS AFRICA DATA MODULE. THE NORTH AMERICA MODULE, RELEASED IN JUNE 2024, INCLUDED MORE THAN 150 LAYERS OF SUBSURFACE AND SURFACE DATA, AND A USER-FRIENDLY TOOL TO ALLOW STAKEHOLDERS TO EXPLORE AND EVALUATE GEOTHERMAL DEVELOPMENT OPPORTUNITIES. MODULES FOR INDIA AND INDONESIA ARE EXPECTED TO LAUNCH IN 2024, FOLLOWED BY BRAZIL IN EARLY 2025.

    Expenses $2,800,526 · Grants $1,055,337

  • PIVOT: PROJECT INNERSPACE SEEKS TO EDUCATE THE PUBLIC, STAKEHOLDERS AND POLICY MAKERS ON BOTH THE VIRTUES OF GEOTHERMAL ENERGY AND THE CHALLENGES THAT MUST BE ADDRESSED TO ENABLE ITS WIDESPREAD AND RAPID ADOPTION THROUGH EDUCATIONAL CONFERENCES, SYMPOSIA AND PUBLIC-FACING EVENTS. PIVOT, NOW IN ITS FIFTH YEAR, BRINGS TOGETHER THOUGHT LEADERS, CHANGE MAKERS, TECHNICAL EXPERTS AND INDUSTRY TO SHARE THE LATEST DEVELOPMENTS IN GEOTHERMAL RESEARCH AND DEVELOPMENT AND TO ENCOURAGE COLLABORATION WITH THE GOAL OF ACCELERATING GEOTHERMAL DEVELOPMENT AS AN ENERGY SOURCE. PIVOT2023 ADOPTED A NEW FORMAT FROM PRIOR YEARS, FEATURING HUNDREDS OF SPEAKERS ACROSS BOTH VIRTUAL CONTENT AND IN PERSON CONFERENCES AROUND THE GLOBE INCLUDING GATHERINGS IN THE HAGUE, NETHERLANDS, ABERDEEN, UNITED KINGDOM, LADAKH, INDIA, BOGOTA, COLOMBIA, NAIROBI, KENYA, AND CALGARY, CANADA WITH ADDITIONAL ECOSYSTEM SPOTLIGHTS FOCUSED ON CHINA, ICELAND, THE MIDDLE EAST, AND NIGERIA. LEANING INTO THE YEAR'S THEME, BUILDING BRIDGES, PIVOT2023 WAS HOSTED IN PARTNERSHIP WITH THE WORLD GEOTHERMAL CONGRESS, GEOTHERMAL RISING, AND THE SOCIETY OF PETROLEUM ENGINEERS, ALONG WITH MORE THAN TWENTY LOCAL PARTNERS, INCLUDING PROFESSIONAL AND INDUSTRY ASSOCIATIONS. DURING THE FINAL WEEK OF PIVOT2023, A FULL DAY OF SESSIONS WERE BROADCAST LIVE FROM THE GEOTHERMAL RISING CONFERENCE IN RENO, NEVADA. THE PIVOT2023 FINALE TOOK PLACE IN HOUSTON, TEXAS WITH A MOVING SET OF SESSIONS BROADCAST FROM HALLIBURTON HEADQUARTERS, FEATURING THOUGHT LEADERS WHO ARE BUILDING THE FUTURE OF GEOTHERMAL ENERGY FROM GOVERNMENT, STARTUPS, NONPROFITS, AND THE OIL AND GAS INDUSTRY.

    Expenses $352,773

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jamie Beard

    PRESIDENT, SECRETARY, EXEC DIR

    Total calculated
    $240,000
    From this org
    $240,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $240,000

  • Kumar Garg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Caroline De Bossart Lester

    TREASURER

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • INNSURE CORPORATION

    $50,000

    GEOFUND PROJECT RESEARCH

  • UNIVERSITY OF TEXAS AT AUSTIN

    $41,948

    GEOMAPPING: PROJECT RESEARCH-ALIGNING THE U.S. HEAT FLOW DATABASE WITH THE IHFC STANDARDS.

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202442819349302359

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