Waves of Wilmington Inc

Analysis

Waves of Wilmington Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Waves of Wilmington Inc reported income of $227k and spending of $246k, spending 108% of what it took in. Across the 3 years on record, from August 2021 to August 2023, income grew from $219k to $227k (+3.9%), an average of +1.9% a year. The sharpest change came in the year to August 2022, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Waves of Wilmington Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include Elite Gymnastics Academy Inc ($227k), Canticle Farm Inc ($227k) and Lopez Canyon Conference Center ($227k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 2.0% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $71k (29% of expenses). Other salaries and wages came to $125k. At year end it held assets of $431k against liabilities of $29k, net assets of $402k. It reported 13 employees.