2025-11-14T08:06:28-06:00 2024-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 30 BRAINTREE HL OFFICE PARK STE 300 BRAINTREE MA 02184 990 2024-01-01 873285334 PROJECT INNERSPACE INC PROJ 2126971000 68 HARRISON AVENUE PMB 99590 605 BOSTON MA 021111929 JAMIE BEARD PRESIDENT, SECRETARY, EXEC DIR 2126971000 2025-11-03 1 1 AMANDA ADAMS P00748038 7813562000 2025-11-03 2024 2025-03-06 01:10:19Z JAMIE BEARD 68 HARRISON AVENUE PMB 99590 605 BOSTON MA 021111929 23121675 0 X WWW.PROJECTINNERSPACE.ORG X 2021 MA TO MAKE THE PRODUCTION OF CLEAN, ALWAYS-ON GEOTHERMAL ENERGY POSSIBLE ANYWHERE IN THE WORLD BY 2030. 3 2 0 0 0 0 7571907 22411133 0 90000 14469 619673 1027 -5858 7587403 23114948 1055337 1877565 0 0 731680 2681963 0 0 418663 1802535 6752556 3589552 11312084 3997851 11802864 4864858 17786701 166563 1285542 4698295 16501159 X SEE SCHEDULE O 0 0 3823226 452900 GEODE - THE GEOTHERMAL ENERGY FROM OIL AND GAS DEMONSTRATION ENGINEERING PROJECT (GEODE) IS A U.S. DEPARTMENT OF ENERGY PROJECT JOINTLY MANAGED BY PROJECT INNERSPACE AND THE SOCIETY OF PETROLEUM ENGINEERS TO CONVENE STAKEHOLDERS ACROSS GEOTHERMAL AND OIL AND GAS SECTORS TO FACILITATE TECHNOLOGY TRANSFER FROM OIL AND GAS TO GEOTHERMAL, CREATE OPEN-ACCESS DATABASES TO IDENTIFY DEMONSTRATION PROJECTS, IDENTIFY POLICY AND FINANCIAL BARRIERS, AND SUPPORT WORKFORCE GROWTH. 2037047 1191525 90000 GEO MAP - PROJECT INNERSPACE BUILT GEOMAP, A WEB-BASED, GLOBAL GEOTHERMAL RESOURCE AND PROSPECTING MAP WITH 400+ LAYERS OF DATA, EVALUATED BY HUNDREDS OF SCIENTISTS TO SERVE AS A DEVELOPMENT GUIDE FOR SITING GEOTHERMAL RESOURCES. GEOMAP IS USED BY THOUSANDS OF ENGINEERS, SCIENTISTS, BUSINESS LEADERS, POLICY-MAKERS, ACADEMICS, AND GEOTHERMAL DEVELOPERS AROUND THE WORLD, INCLUDING MAJOR OIL AND GAS AND TECH INDUSTRY COMPANIES. 997368 OUTREACH/GEOTHERMAL HOUSE - PROJECT INNERSPACE BUILDS THE SOCIAL LICENSE OF GEOTHERMAL AROUND THE WORLD THROUGH UNIQUE EVENTS THAT HIGHLIGHT GEOTHERMAL AS THE SUPER-HOT FUTURE OF ENERGY AND LAUNCH CONVERSATIONS THAT HELP OVERCOME A POLARIZED ENERGY LANDSCAPE. OUR FLAGSHIP "GEOTHERMAL HOUSE" CONCEPT BLENDS ART AND SCIENCE INTO AN IMMERSIVE EDUCATIONAL EXPERIENCE WITH BROAD APPEAL, FEATURING OUR NEWLY DEVELOPED "JOURNEY TO THE CENTER OF THE EARTH" GEOTHERMAL VR EXPERIENCE, GEOMAP DEMONSTRATIONS, INNOVATION SHOWCASES, AND OTHER ACTIVITIES. IN 2024 AND 2025, PROJECT INNERSPACE HOSTED GEOTHERMAL HOUSES IN NEW YORK CITY, AUSTIN, TEXAS, SAN FRANCISCO, WASHINGTON D.C., DAVOS, SWITZERLAND, AND NAIROBI, KENYA. 2997812 233140 -5858 PROJECT INNERSPACE OPERATES PROGRAMS ACROSS THE GLOBE THAT BUILD ECOSYSTEMS AND INCUBATE INNOVATION BY UNITING DECISION-MAKERS, INDUSTRY EXPERTS, AND RESEARCHERS TO REMOVE BARRIERS TO GEOTHERMAL GROWTH AND DEMONSTRATING THE POTENTIAL OF FIRST-OF-A-KIND NEXT-GENERATION GEOTHERMAL TECHNOLOGY TO PRODUCE ELECTRICITY, INDUSTRIAL HEAT, AND COOLING. THROUGH GLOBAL PARTNERSHIPS, TECHNICAL STUDIES, AND STAKEHOLDER ENGAGEMENT, INNERSPACE HELPS CATALYZE NEW MARKETS AND UNLOCK SUSTAINABLE ENERGY DEVELOPMENT WORLDWIDE. 2997812 233140 -5858 9855453 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 56 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X JAMIE BEARD - FOUNDER AND EXECUTIVE 2126971000 68 HARRISON AVENUE PMB 99590 STE BOSTON MA 021111929 JAMIE BEARD FOUNDER & EXECUTIVE DIRECTOR 50.00 X X 486268 0 18992 CAROLINE DE BOSSART LESTER TREASURER 5.00 X X 0 0 0 KUMAR GARG DIRECTOR 5.00 X 0 0 0 MICHELE SINGER VICE PRESIDENT, OPERATIONS & GENERAL COUNSEL 40.00 X 211538 0 9698 TAYLOR MATTIE DIRECTOR OF TECHNOLOGY 40.00 X 169999 0 8441 TRENT MCFADYEN DIRECTOR OF STRATEGIC INITIATIVES 40.00 X 164053 0 0 DREW NELSON VICE PRESIDENT, PROGRAMS, POLICY & STRATEGY 40.00 X 179560 0 0 ROGER ASTON TEAGUE DIRECTOR OF INNOVATION & GROWTH 40.00 X 156923 0 29812 1368341 0 66943 8 0 1 0 FOLEY HOAG LLP 155 SEAPORT BOULEVARD BOSTON MA 022102600 LEGAL 280242 DANIEL PENROD 235 LINCOLN STREET NEWTON HIGHLANDS MA 02461 ADVISORY 240000 YPTC 1600 MARKET STREET PHILADELPHIA PA 19103 ACCOUNTING 235349 BIOSPHERIC AI LLC 127 DALTON RD BELMONT MA 02478 CONSULTING 189930 SMITA SATIANI 5234 VINCENT AVE LOS ANGELES CA 90041 PROGRAMMING 141899 7 2490843 19920290 22411133 PROGRAM CONSULTING 541610 90000 90000 90000 619673 619673 869 6727 -5858 -5858 23114948 84142 0 619673 X 652193 652193 1225372 1225372 505260 378695 62947 63618 1992416 1493326 248224 250866 54595 47030 5658 1907 129692 109361 17265 3066 422267 349937 72330 260196 260196 4253076 4150126 102527 423 267892 265321 2571 209076 103907 105169 134977 134977 341035 98462 158894 83679 638755 626255 12500 6823 3209 3581 33 EVENT EXPENSES 217282 217282 1177 1177 11312084 9855453 1037968 418663 70239 947783 3289818 15240103 1504801 1598815 4864858 17786701 166563 1285542 166563 1285542 X 3198295 16501159 1500000 0 4698295 16501159 4864858 17786701 11802864 0 X 0 1 X 1 1 1 X 1412062 7571907 22411133 31395102 1412062 7571907 22411133 31395102 9127008 22268094 14469 619673 634142 1189 1189 32030433 91510 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2023 AMOUNT: $ 1,189. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 23128175 6500 6727 13227 23114948 0 23114948 11325311 6500 6727 13227 11312084 0 11312084 PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC TOPIC INCOME TAXES. THIS TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PROCESS FOR FINANCIAL STATEMENT RECOGNITION OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THIS TOPIC ALSO PROVIDES GUIDANCE ON RECOGNITION, DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS NO MATERIAL UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 6,727. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 6,727. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 1157372 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 68000 SOUTH ASIA 0 0 FUNDRAISING 1434 SUB-SAHARAN AFRICA 0 0 PROGRAM GEOMAP 3628 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM GEOLAC CONFERENCE 3842 EUROPE (INCLUDING ICELAND & GREENLAND) 0 5 PROGRAM RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS 719338 0 5 0 0 0 5 1953614 0 1953614 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 337373 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS 135000 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS 50000 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 123706 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 65091 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 118933 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 73743 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GEOMAP 301926 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS 18000 WIRE TRANSFER 0 5 4 0 0 0 0 0 0 PART I, LINE 2: EACH GRANT IS OVERSEEN BY A PROJECT INNERSPACE SUBJECT MATTER EXPERT WHO REVIEWS AND VALIDATES AGREED-UPON DELIVERABLES FOR APPROPRIATE PROGRESS BEFORE APPROVAL OF DISBURSEMENT OF THE NEXT SCHEDULED PAYMENT UNDER THE GRANT AGREEMENT. PART I, LINE 3: THE AMOUNTS IN PART I HAVE BEEN REPORTED FOLLOWING THE ACCRUAL METHOD OF ACCOUNTING. 1 FEDERATION OF AMERICAN SCIENTISTS 1112 16TH STREET NW SUITE 400 WASHINGTON DC 20036 237185827 501(C)(3) 150000 0 GEODE - FEDERAL GRANT FROM DOE JATAWARE 14 RIDGE SQUARE NW FL 3 WASHINGTON DC 20016 475225733 100000 0 RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS 1444 S BOULDER AVENUE TULSA OK 74119 730125920 501(C)(3) 97900 0 GEODE - FEDERAL GRANT FROM DOE SOUTHWEST RESEARCH INSTITUTE 6220 CULEBRA ROAD SAN ANTONIO TX 78238 741070544 501(C)(3) 85000 0 RESEARCH AND DEVELOPMENT OF PROGRAM TOOLS RHODIUM GROUP LLC 5 COLUMBUS CIRCLE SUITE 1801 NEW YORK NY 10019 201237721 77440 0 STRATEGY & POLICY DEVELOPMENT RICE UNIVERSITY 5100 MAIN STREET MS-16 OFFICE SPONSORED RESEARCH HOUSTON TX 77005 741109620 501(C)(3) 69153 0 GEOMAP UNIVERSITY OF MASSACHUSETTS AMHERST 100 VENTURE WAY SUITE 201 HADLEY MA 010359462 542084125 501(C)(3) 45000 0 GEODE - FEDERAL GRANT FROM DOE AMERICAN SOCIETY OF MECHANICAL ENGINEERS TWO PARK AVENUE NEW YORK NY 10016 131623899 501(C)(3) 25000 0 GEODE - FEDERAL GRANT FROM DOE 6 2 PART I, LINE 2: EACH GRANT IS OVERSEEN BY A PROJECT INNERSPACE SUBJECT MATTER EXPERT WHO REVIEWS AND VALIDATES AGREED-UPON DELIVERABLES FOR APPROPRIATE PROGRESS BEFORE APPROVAL OF DISBURSEMENT OF THE NEXT SCHEDULED PAYMENT UNDER THE GRANT AGREEMENT. X X 0 0 0 0 0 0 0 1 0 JAMIE BEARD FOUNDER & EXECUTIVE DIRECTOR 486268 0 0 0 0 0 11016 0 7976 0 505260 0 0 0 MICHELE SINGER VICE PRESIDENT, OPERATIONS & GENERAL 211538 0 0 0 0 0 0 0 9698 0 221236 0 0 0 ROGER ASTON TEAGUE DIRECTOR OF INNOVATION & GROWTH 156923 0 0 0 0 0 0 0 29812 0 186735 0 0 0 DREW NELSON VICE PRESIDENT, PROGRAMS, POLICY & S 179560 0 0 0 0 0 0 0 0 0 179560 0 0 0 TAYLOR MATTIE DIRECTOR OF TECHNOLOGY 169999 0 0 0 0 0 0 0 8441 0 178440 0 0 0 TRENT MCFADYEN DIRECTOR OF STRATEGIC INITIATIVES 164053 0 0 0 0 0 0 0 0 0 164053 0 0 0 PART I, LINE 7 DURING 2024, A DISCRETIONARY BONUS OF $100,000 FOR JAMIE BEARD PAYABLE IN 2025, WAS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD MEMBERS. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: PROJECT INNERSPACE IS A 501(C)(3) NON-PROFIT FOCUSED ON EXPANDING THE USE OF GEOTHERMAL ENERGY GLOBALLY. WE AIM TO UNLOCK GLOBAL EXPONENTIAL GROWTH OF GEOTHERMAL BY FACILITATING THE RAPID TRANSFER OF RESOURCES, TECHNOLOGIES AND KNOW-HOW FROM THE OIL AND GAS INDUSTRY TOWARD GEOTHERMAL ENERGY PRODUCTION. INNERSPACE IS ON A SPRINT TO MAKE THE PRODUCTION OF CLEAN, ALWAYS-ON GEOTHERMAL ENERGY POSSIBLE ANYWHERE IN THE WORLD BY 2030. FORM 990, PART V, LINE 2A: DURING 2024, THE ORGANIZATION USED A PEO IN CONNECTION WITH ITS EMPLOYEES. THE PEO FILED ALL PAYROLL TAX RETURNS UNDER ITS NAME, THEREFORE NO AMOUNT HAS BEEN REPORTED ON THIS LINE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD OF DIRECTORS, PRINCIPAL OFFICER, MEMBER, EMPLOYEE HAVING RESPONSIBILITIES SIMILAR TO A DIRECTOR OR PRINCIPAL OFFICER, SUBSTANTIAL DONOR TO THE ORGANIZATION, OR ANY PERSON IN A POSITION TO EXERCISE SUBSTANTIAL AUTHORITY OVER THE AFFAIRS OF THE ORGANIZATION ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT UPON FIRST ACCEDING TO SUCH OFFICE OR POSITION AND TO UPDATE THE DISCLOSURE STATEMENT IMMEDIATELY FOLLOWING ANY CHANGE IN THE INFORMATION REQUESTED IN THE DISCLOSURE STATEMENT. AFTER A POTENTIAL CONFLICT OF INTEREST HAS BEEN DISCLOSED TO THE BOARD, ALONG WITH ALL MATERIAL FACTS, THE COVERED PERSON SHALL LEAVE THE MEETING WHILE THE DETERMINATION OF AN IMPERMISSIBLE CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE DISINTERESTED MEMBERS OF THE BOARD SHALL DETERMINE WHETHER AN IMPERMISSIBLE CONFLICT OF INTEREST EXISTS. IF SUCH A CONFLICT IS DETERMINED TO EXIST, THE COVERED PERSON MAY MAKE A PRESENTATION TO THE BOARD AT THE MEETING WHERE THE TRANSACTION OR ARRANGEMENT IS BEING CONSIDERED, BUT THEY MUST LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, SUCH TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY WAS SET BY THE BOARD USING INDUSTRY BENCHMARKS WHICH WERE VALIDATED IN DECEMBER 2024 THROUGH A NON-PROFIT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PAYROLL PROCESSING/HR ADMIN FEES: PROGRAM SERVICE EXPENSES 38,926. MANAGEMENT AND GENERAL EXPENSES 10,261. FUNDRAISING EXPENSES 423. TOTAL EXPENSES 49,610. REPORT WRITING SERVICES: PROGRAM SERVICE EXPENSES 175,714. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 175,714. SCIENTIFIC RESEARCH/PROGRAM CONSULTING: PROGRAM SERVICE EXPENSES 3,913,899. MANAGEMENT AND GENERAL EXPENSES 92,266. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,006,165. VIDEOGRAPHY/GRAPHIC DESIGN: PROGRAM SERVICE EXPENSES 21,587. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,587.