Wave Enterprises Inc

Nonprofit profile at a glance

EIN
954274572
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Malibu, CA, USA
Phone
3105064000
Rating confidence
Limited
Sector
University or Technological Institute

Official website

Reported finances

Revenue
$-2,494,111
Expenses
$390,485
Assets
$20,212,007
Liabilities
$8,462,147

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DANIEL DEWALT (DIRECTOR & VICE PRESIDENT)
  • NICOLLE TAYLOR (PRESIDENT)
  • JEFFREY ROHDE (VICE PRESIDENT)

Highest reported compensation

  • JAMES GASH (DIRECTOR): $1,323,005 total reported compensation
  • JEFFREY ROHDE (VICE PRESIDENT): $524,413 total reported compensation
  • GREG RAMIREZ (CHIEF FINANCIAL OFFICER/TREASURER): $464,238 total reported compensation

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

Overview

Mission

Wave enterprises, inc. Is a supporting organization of pepperdine university.

What it reported doing in 2024

Wave enterprises, inc. Is a supporting organization of pepperdine university. As such, wave enterprises, inc. Manages assets, earns income, and pays expenses solely for the benefit of pepperdine university.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 2
  • Transparency & Controls: 68
  • Accountability: 38
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 1.8%; rating input score 2
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -115.7%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 51.76; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 175.1%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -6.1% per year; rating input score 0; 36th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 1.8% of spending went to programs
  • Governance: 1 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7K in reported program spending
  • Leadership: top reported pay $1.3M · 7 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $389K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 8 filed related-organization links
  • 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 — Financial Efficiency: Program expense ratio scored 2/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.