Wave Services Inc

Nonprofit profile at a glance

EIN
954315778
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Malibu, CA, USA
Phone
3105064000
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$110,257
Expenses
$345,918
Assets
$147,877,725
Liabilities
$73,085,514

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JAMES GASH (DIRECTOR & VICE PRESIDENT)
  • DANIEL DEWALT (DIRECTOR & VICE PRESIDENT)
  • SARA COSENTINO (PRESIDENT)
  • SUSAN CHRISTOPHER (VICE PRESIDENT)

Highest reported compensation

  • JAMES GASH (DIRECTOR & VICE PRESIDENT): $1,323,005 total reported compensation
  • JEFFREY ROHDE (SECRETARY): $524,413 total reported compensation
  • SARA COSENTINO (PRESIDENT): $480,989 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 services, inc. Is a supporting organization of pepperdine university.

What it reported doing in 2024

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

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. 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: 0
  • Transparency & Controls: 71
  • Accountability: 48
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 50%; rating input score 50; 16th 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: -213.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 427.49; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 213%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -1.5% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 15.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 4 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.3M · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.