Waves of Love Inc

Nonprofit profile at a glance

EIN
273453186
IRS 990-EZ coverage
2017–2024
Forms available
Form 990-EZ 2024
Location
Sarasota, FL, USA
Phone
9412994302
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Interfaith Coalitions
Affiliation
Christianity

Reported finances

Revenue
$197,236
Expenses
$185,979
Assets
$40,598
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Michael P Lindsey (President, Director)

People named in this filing

  • Michael P Lindsey (President, Director)
  • Justin Mizell (Director)
  • Paula L Lindsey (Secretary Treasurer)

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 people in under-developed countries on Christianity, the bible, and to assist less fortunate individuals by offering educational programs, construction projects, food distribution and feeding programs. We offer others a chance to partner on the ground through trips to under-developed countries spreading the word of God and providing hope.

What it reported doing in 2024

1)Feeding programs: A) Elders program 70 families: Each month we visit families that care for elders. They receive a food packet of rice, beans, oil, cornmeal and oatmeal on a monthly basis to help offset the cost of living for the family. Quarterly a hot meal is delivered with the food package. B) Children's feeding program: Five days a week 130 children receive a hot lunch filled with nutrition. Meals are also provided to pregnant mothers. C) family food packets 50: Families that are caring for chronically ill children receive a monthly food packet containing rice, beans, oil, cornmeal and oatmeal and a can of pediasure milk. D) Community food distribution: Each month we visit a rural community that has little access to work and live in extreme poverty. We gather as a community to prepare food packets for each family present. The packets contain rice, beans, oil, cornmeal and oatmeal. The number of households served in each community varies from 50 to 100 each month.

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: 52
  • Transparency & Controls: 100
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.7%; rating input score 51
  • Program expense ratio: 53.8%; rating input score 54

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: 5.7%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: -8.9% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: -7.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 50.7% of revenue deployed · 53.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 5 filed program accomplishments · $100K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.