Making Waves Academy

Analysis

Making Waves Academy is a registered charity in United States, based in Richmond, CA. It received its IRS tax-exemption ruling in September 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Making Waves Academy reported income of $29.3m and spending of $28.1m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.5m to $29.3m (+24%), an average of +5.6% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Making Waves Academy sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Reach Out and Read Inc ($29.2m), Dakota Wesleyan University ($29.3m) and Lake Norman Charter School Inc ($29.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $878k (3.1% of expenses). Other salaries and wages came to $13.5m. At year end it held assets of $15.3m against liabilities of $7.1m, net assets of $8.1m. It reported 226 employees.