Red Wave Fund Inc
Nonprofit profile at a glance
- EIN
- 923444528
- IRS 990-EZ coverage
- 2023–2023
- Forms available
- Form 990-EZ 2023
- Location
- Troy, AL, USA
- Phone
- 3342681021
- Rating
- 63
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $5,665
- Expenses
- $5,665
- Assets
- $19,101
- Liabilities
- $19,101
Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- CHARLES CARSON (PRESIDENT)
People named in this filing
- CHARLES CARSON (PRESIDENT)
- JASON JONES (TREASURER)
- JOHN BERRY ROBERTS (SECRETARY)
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 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Red wave fund, inc. Will help strengthen, promote, and otherwise support tax-exempt nonprofit organizations in the state of Alabama and the people and communities they serve. It will do so by providing local tax-exempt nonprofit organizations grants as well as in-kind contributions of sports education, physical education, communication, marketing, speaking, event, and relations services so that served organizations can expand the reach and effectiveness of their exempt activities, better serve their constituents, and, ultimately, better achieve their exempt purposes.
What it reported doing in 2023
Support other nonprofit organizations in the community.
Operating model
- Revenue model
- Donor-supported. 100% 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.
The verdict
SUPPORTED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 82
- Sustainability: 51
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 55.8%; rating input score 56
- Program expense ratio: 55.7%; rating input score 56
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 0%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 3.37; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 55.8% of revenue deployed · 55.7% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $3K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 5 of 5 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.
- Review — Financial Efficiency: Program expense ratio scored 56/100.
- Moderate — Sustainability: Operating margin scored 46/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.