Wave Foundation
Nonprofit profile at a glance
- EIN
- 204413510
- IRS 990-EZ coverage
- 2011–2024
- Forms available
- Form 990-EZ 2024
- Location
- Sacramento, CA, USA
- Phone
- 9165675760
- Rating
- 39
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $78,559
- Expenses
- $85,927
- Assets
- $53,351
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Felix Flores (President)
- Whitney Browning (Vice President)
People named in this filing
- Felix Flores (President)
- Amy Wall (Treasurer)
- Dave Edwards (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
WAVE Foundation supports Westlake Charter School through community engagement, volunteer coordination, and fundraising activities that benefit students and school programs. During the year the organization organized several community events, including the Olympic Triathlon fundraiser, Fall Festival, and other family engagement events that bring together school families while raising funds for student enrichment. Funds raised were granted to Westlake Charter School to support educational programming, student activities, and community-building initiatives.
What it reported doing in 2024
WAVE Foundation supported Westlake Charter School through fundraising events, community engagement activities, and direct financial support to the school. Major activities included the Olympic Triathlon fundraiser, Fall Festival, International Festival, and family engagement events such as Movie Night, Family Dance, Coffee Talks, and Bingo Night. Funds raised through these activities helped provide resources for student programs, school events, and community-building initiatives. During the fiscal year, WAVE distributed approximately $51,155 to Westlake Charter School to support educational programs and student enrichment.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
REVIEW - 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: 8
- Transparency & Controls: 82
- Sustainability: 39
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 7.7%; rating input score 8
- Program expense ratio: 7%; rating input score 7
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -9.4%; rating input score 31; 31st percentile among comparable filings
- Total-asset coverage ratio: 0.62; rating input score 34; 34th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -22.2% per year; rating input score 0; 16th percentile among comparable filings
- Revenue growth: -3.9% per year; rating input score 0; 37th percentile among comparable filings
- Asset growth: -2.6% per year; rating input score 0; 30th percentile among comparable filings
Details
- Where the money goes: 7.7% of revenue deployed · 7% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $6K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 8 of 9 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2011 to 2024
- Contacts: How to reach this organization
- 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 — Financial Efficiency: Mission deployment rate scored 8/100.
- High — Financial Efficiency: Program expense ratio scored 7/100.
- Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 31/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.