New Wave Corporation

Nonprofit profile at a glance

EIN
431026021
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Columbia, MO, USA
Phone
5738741139
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$491,906
Expenses
$356,043
Assets
$983,331
Liabilities
$35,773

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • NANCY SILVER (VICE PRESIDENT)
  • ED HERRMANN (PRESIDENT)

Highest reported compensation

  • DYLAN MARTIN (GENERAL MANAGER): $55,774 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Listner-supported community public radio station committed to educating and enriching the lives of its membership and the community it serves

What it reported doing in 2024

The New Wave Corporation operates KOPN 89.5 FM, a non-commercial, listener-supported community radio station broadcasting 24/7 to thousands of urban and rural listeners in central Missouri. Programming includes national news and analysis and locally produced programs covering diverse musical genres, local issues and events, the arts, emerging technologies, food and nutrition, farming, and health. The New Wave Corporation provides a neutral forum for the discussion of issues important to the community at large, training in radio production, and community service opportunities through participation with the local court system.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.5%; rating input score 52
  • Program expense ratio: 71.8%; rating input score 72
  • Fundraising efficiency: $22.18 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.6%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 15.7%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 18.7% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 52.5% of revenue deployed · 71.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $256K in reported program spending
  • Leadership: top reported pay $56K · 13 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • 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 52/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.