Womens Association of Venture & Equity Inc

Nonprofit profile at a glance

EIN
200554856
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Stratford, CT, USA
Phone
8559283606
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$679,063
Expenses
$665,115
Assets
$211,866
Liabilities
$91,719

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

Leadership & pay

21 people listed

Executive titles in this filing

  • Helen Quick (President)

Highest reported compensation

  • Stephanie Batchelor (Raleigh Chair): $37,500 total reported compensation

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

Overview

Mission

Women's Association of Venture and Equity (WAVE) is a nonprofit organization, which was founded in 2003 and is committed to the development and advancement of women in private equity and venture capital.WAVE's mission is to promote a spirit of cooperation and understanding among its members and to create professional opportunities for them by providing a strong network of contacts in the private equity and venture capital industry.

What it reported doing in 2024

Other program service accomplishments include: o In 2024, WAVE held 10 educational and networking events in Boston, New York City, Chicago, Los Angeles, San Francisco, Miami, and Washington DC. o Networking events were hosted by organizations for which expenses were covered by the sponsors and are not reported in Form 990.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 87% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 93
  • Accountability: 74
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.5%; rating input score 80
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.1%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 23.4% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 79.5% of revenue deployed · 81.2% of spending went to programs
  • Governance: 21 of 21 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $540K in reported program spending
  • Leadership: top reported pay $38K · 21 people listed
  • Highest-paid contractors: 1 contractor listed · $149K reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules · includes grants
  • Filing history: 7 filing years from 2018 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.