Waves Inc

Analysis

Waves Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in February 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Waves Inc reported income of $3.4m and spending of $3.7m, spending 109% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.0m to $3.4m (+14%), an average of +4.4% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Waves Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within TN. Charities of a similar size with the same main cause include Homeaid America Inc ($3.4m), Cumberland River Homes Inc ($3.4m) and Young Mens Christian Association & Womans Educational & Industrial UN ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $108k (2.9% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $1.4m against liabilities of $360k, net assets of $1.1m. It reported 74 employees.