First Wave
Nonprofit profile at a glance
- EIN
- 364958603
- IRS 990-EZ coverage
- 2022–2022
- Forms available
- Form 990-EZ 2022
- Location
- Houston, TX, USA
- Phone
- 7136244209
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $193,467
- Expenses
- $178,752
- Assets
- $14,715
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- Brian Melton (Director)
- Shaun Francis (Director)
- Beau Laskey (Director)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
First Wave Conducts educational sessions with curated guest speakers on important trnds in leadership, government and business. The organization also supports military families and veterans through volunteers, fundraising, and other philanthropic activities.
What it reported doing in 2022
Contributions to veterans groups
Operating model
- Revenue model
- Membership-supported. 96% of the money available for current operations came from membership dues.
- Distribution model
- Direct operator. The filing allocates 91% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 82
- Sustainability: 44
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 55.9%; rating input score 56
- Program expense ratio: 60.5%; rating input score 61
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 7.6%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 0.08; rating input score 9; 9th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 64; 64th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 55.9% of revenue deployed · 60.5% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $108K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Financial Efficiency: Mission deployment rate scored 56/100.
- High — Sustainability: Total-asset coverage ratio scored 9/100.
- Review — Sustainability: Operating margin scored 53/100.