Seventh Wave Magazine Inc

Nonprofit profile at a glance

EIN
474469984
IRS 990-EZ coverage
2018–2024
Forms available
Form 990-EZ 2024, Form 990-N 2017
Location
Normandy Park, WA, USA
Phone
5625476510
Rating
93
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Reported finances

Revenue
$60,593
Expenses
$67,576
Assets
$1,343
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOYCE CHEN (PRESIDENT)
  • BRETTY RAWSON (VICE PRESIDENT & TREASURER)

People named in this filing

  • JOYCE CHEN (PRESIDENT)
  • BRETTY RAWSON (VICE PRESIDENT & TREASURER)
  • KRISTA STARRETT (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To educate the public and advance the arts by publishing a digital magazine featuring art, essays, and editorials on topics relating to social issues, conducting performances of literature, theater, dance, and other performing arts, and conducting educational lectures, panels, workshops and discussion forums about the arts and social issues.

What it reported doing in 2024

Publishing of magazine and presentation of performances relating to social issues.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 96
  • Transparency & Controls: 100
  • Sustainability: 24
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.1%; rating input score 90

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -11.5%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 19.2% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -14.2% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $61K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.