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OMB No 1545-0047R e t urn o f O rgan i za ti on E xemp t F rom I ncome T axForm w990Under section 501(c), 527, or 4947( a)(1) of the Internal Reven ue Code ( except black lungbenefit trust or private foundation)Department of the TreasuryThe organizationmayhaveto use a copy of this return to satisfy state reporting requirements.RevenueServiceInternaland endingA For the 2005 calendar year, or tax year beginningBPlease C Name of organizationCheck Ifapplicablerint ENERGY TRUST OF OREGON,change returnIn lINC .rOrAmended(503)493-8888City or town, state or country, and ZIP 4tonsreturnORTLAND, Room/swte E Telephone numberspecrnc 8 51 SW SIXTH AVENUE, SUITE 1200Instruc- FinalIC93-1313663Number and street (or P.O. box if mail is not delivered to street address)S pen„ oss u.:. %lnpectionzaD Employer identification numberuse IRSlabelporOchargeschangeNameE Itia2005ORF Accounting method97204Cash [RTAccrualQ Pay) Section 501(c)(3 ) organizations and 4947 ( a)(1) nonexempt charitable trustsmust attach a completed Schedule A ( Form 990 or 990 EZ ).Hand I are not applicable to section 527 organizations.H(a) Is this a group return for affiliates? Yes NoH(b) If "Yes," enter number of affiliates'N/A. ENERGYTRUST. ORGG Website :) 14 (insert no) L j 4947(a)(1) or527 H(c) Are all affiliates included?J Organization type (checkonyone) 00- X 501(c)( 3N/AYesNo(If " No; attach a list)K Check here Po. L-j if the organization's gross receipts are normally not more than 25,000. TheH(d) Is this a separate return filed by an organization covered by a group ruling? Yes Noorganization need not file a return with the IRS; but if the organization chooses to file a return, besure to file a complete return . Some states require a complete return .IGroup Exemption Number N/AM Check L-j if the organization is not required to attachSch. B (Form 990, 990-EZ, or 990-PF).L Gross receipts: Add lines 6b, 8b, 9b, and fob to line 12 53,853,436. pendmguonRevenue, Expenses , and Changes in Net Assets or Fund BalancesxPart"I1Contributions , gifts, grants, and similar amounts received:a Direct public supportbcovernnRiCeepOEud yt araservice evenue Incnlu dInbrduejaod gse55ren2323investments4bc10 abc11121314151617DivideW a 4srtj fro n tGuriti esGross re6aLess: rental expenses6bNet rental income or (loss ) ( subtract line 6b from line 6a)Other investment income ( describe Gross amount from sales of assets other( B) Other( A) Securitiesthan InventoryLess: cost or other basis and sales expensesGain or ( loss) (attach schedule)Net gain or ( loss) (combine line 8c, columns ( A) and (B))Special events and activities ( attach schedule ). If any amount is from gaming , check here of contributionsGross revenue ( not including reported on line 1a)9aLess: direct expenses other than fundraising expenses9bNet income or ( loss) from special events (subtract line 9b from line 9a)Gross sales of inventory, less returns and allowances10aLess: cost of goods sold10bGross profit or ( loss) from sales of inventory ( attach schedule) (subtract line fob from line 1Oa)Other revenue (from Part VII , line 103)Total revenue (add lines 1d, 2 , 3, 4, 5, 6c, 7, 8d, 9c, 10c, and 11 )Program services (from line 44 , column ( B))Management and general ( from line 44 , column (C))Fundraising ( from line 44 , column (D))Payments to affiliates ( attach schedule)Total expenses ( add lines 16 and 44, column (A))1RFvrocc or frlefiritl for tho ,asr lciihtrart lino 17 from lino 191192021Net assets or fund balances at beginning of year ( from line 73, column (A))Other changes in net assets or fund balances ( attach explanation)Net assets or fund balances at end of year ( combine lines 18, 19, and 20 )9a-5tZ,1drnment fees and contracts (from Part VII , line 93)InQW52,602,527.52, 602 , 527. noncash 56 abc78 abcd02-03-06LHAs and temporah4-Jf/11cnts)IrrestothreB lalb1,250,909.56c7)8d9ch10c1112131453 , 853 , 436 .52 , 323 , 905 .1 , 633, 919 .15161753 , 957 , 824-1 n A3 0 0192036 , 648 , 3002136 , 543 , 912Form 990 (2005)For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions .117040425 756026 4575052, 602, 527.2005.05050 ENERGY TRUST OF OREGON,0INC 45750 1

ENERGY TRUST OF OREGON , INC.93-1313663Form 990 2005All organizations must complete column (A). Columns ( B), (C), and ( D) are required for section 501(c)(3)Statement ofT9!i1niFunctional Expensesand (4 ) organizations and section 4947( a)(1) nonexempt chantable trusts but optional for others.Do not include amounts reported on line6b, 8b, 9b, 10b, or 16 of Part 1.22(B) Programservices( A) Total(C) Managementand generalPag e 2( D) FundraisingGrants and allocations (attach schedule)(cash 0 noncash If this amount includes foreign grants, check here010, LJ23 Specific assistance to individuals (attachschedule)24 Benefits paid to or for members (attachschedule)22232425 Compensation of officers , directors , etc.* *25362,691.2,854.359,837.26 Othersalanesandwages26271, 416, 281, 784, 925.127,141.342,0 57.29 Payroll taxes29178, 251.120, 377.30 Professional fundraising fees31 Accounting fees30313231,264.127, 764.88,396.39,368.3332,960.21,755.11,205.3420 , 158.35 Postage and shipping3520,598.15,707.16,88 7.4,451.3,711.36 Occupancy36320, 652.220, 872.99,780.37 Equipment rental and maintenance38 Printing and publications373852,420.10 7,676.39 Travel3952 ,617.31,450.101,903.36,064.20,970.5,773.16,553.40 Conferences , conventions , and meetings4087 ,723.34,887.52,836.41 .50,240,995.49,848,911.392,084.27 Pension plan contributions28 Other employee benefits32 Legal fees33 Supplies34 Telephone42 Depreciation , depletion , etc. (attach schedule )4243 Other expenses not covered above (itemize):a43a43bbc43cdef43d43e43fgSEE STATEMENT 1430.31,264.44 Total functional expenses . Add lines 22through 43 . (Organizations completingcolumns (B)-(D), carry these totals to lines13-15)2, 323, 905., 633, 919.53,957,824.4Joint Costs . Check U if you are following SOP 98-2.Are any joint costs from a combined educationa l campaign and fundraising solicitation reported in (B) Program services N/A; (ii) the amount allocated to Program services If 'Yes,' enter ( l) the aggregate amount of these joint costs N/A, and ( iv) the amount allocated to Fundraising ( iii) the amount allocated to Management and general .YesN/AN/ANoForm 990 (2005)**SEE STATEMENT 252301102-03-06210540510756026 457502005.05060 ENERGY TRUST OF OREGON,INC 457501

Form 990 (2005)ENERGY TRUST OF OREGON , INC.Partr,111 ] Statement of Program Service Accomplishments (See the instructions.)93-1313 663Page 3Form 990 is available for public inspection and, for some people , serves as the primary or sole source of information about a particular organization.How the public perceives an organization in such cases may be determined by the information presented on its return . Therefore , please make sure thereturn is complete and accurate and fully describes , in Part III , the organization 's programs and accomplishments.What is the organization's primary exempt purpose? SEE STATEMENT 3Program ServiceExpenses(Required for 501(c)(3)and (4) orgs., and4947(a)(1) trusts; butoptional for others.)All organizations must describe their exempt purpose achievements in a clear and concise manner. State the number ofclients served, publications issued, etc. Discuss achievements that are not measurable. (Section 501 (c)(3) and (4)organizations and 4947(a)(1) nonexempt charitable trusts must also enter the amount of grants and allocations to others.)a SEE ATTACHED STATEMENT# 7 FOR PART III,LINE A(Grants and allocations ) If this amount includes foreign grants, check here (Grants and allocations )If this amount includes foreign grants, check here (Grants and allocations ) If this amount includes foreign grants, check here (Grants and allocations )If this amount includes foreign grants, check here )If this amount includes foreign grants, check here 52,323,905.bCL-jde Other program services (attach schedule)(Grants and allocations f Total of Program Service Expenses (should equal line 44, column (B), Program services)El 52,323,905.Form 990 (2005)52302102-03-06317040425 756026 457502005.05050 ENERGY TRUST OF OREGON,INC 457501

Form 990 (2005)ENERGY TRUST OF OREGON,Part, 1V Balance Sheets (See the instructions)INC.Note: Where required, attached schedules and amounts within the description columnshould be for end-of-year amounts only.454647a47bPledges receivableLess : allowance for doubtful accountsGrants rece ivableReceivables from officers , directors , trustees,and key employees 51 a Other notes and loans receivableb Less : allowance for doubtful accounts52Inventories for sale or usePrepaid expenses and deferred charges5354Investments - securities55 a Investments - land, buildings, andequipment : basis48a48bb5657 ab55b48 ab4950aLess : accumulated depreciationInvestments - otherLand , buildings , and equipment : basis SEELess : accumulated depreciation STMT 937,308,189.71, 823. 47c143,421.51c52535426,784. Q Cost-0 FMV41,047.55a57a57b55c56937,820.537,639.SEE STATEMENT 4)Other assets ( describe 59Total assets must e q ual line 74 ) . Add lines 45 throu g h 586061626364 abAccounts payable and accrued expensesGrants payableDeferred revenueLoans from officers , directors, trustees , and key employeesTax-exempt bond liabilitiesMortgages and other notes payable65Other liabilities ( describe SEEcomplete lines 70 through 74.Capital stock , trust principal, or current fundsPaid - in or capital surplus , or land , building , and equipment fundRetained earnings , endowment , accumulated income , or other fundsTotal net assets or fund balances (add lines 67 through 69 or lines 70 through 72;column (A) must equal line 19; column ( B) must equal line 21)Total liabilities and net assets/fund balances . Add lines 66 and 73606,492. 57c1,07 3,406. 58400,181.752,985.39 , 043,286. 5938,646,123.2,212 ,833.601,788,968.61626364a64bSTATEMENT 5Organizations that do not follow SFAS 117, check here 1110. 0 and74300 .4650aZ4551a51b5870717273300.37,264, 481.48c49Mm'LU, Q(B)End of year143,421.66Total liabilities . Add lines 60 throu g h 65)Organizations that follow SFAS 117, check here LXJ and complete lines67 through 69 and lines 73 and 74.67UnrestrictedSEE STATEMENT 8Temporarily restricted6869Permanently restricted- -CD(A)Beginning of yearCash - non-interest - beanngSavings and temporary cash investments47 a Accounts receivableb Less: allowance for doubtful accountsPage 493-1313663)182, 153.65313,243.2,394,986.662 ,102,211.Is,6736,317,226.,686. 68226,686.36,4 21,614.-22669707172:.36 , 648 , 300 .7339 , 043 , 286 .7436,543,912.38 ,646,123.Form 990 (2005)52303102-03-0617040425 756026 4575042005.05050 ENERGY TRUST OF OREGON,INC 457501