Waves Ahead Corp

Analysis

Waves Ahead Corp is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Waves Ahead Corp reported income of $1.0m and spending of $1.1m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $336k to $1.0m (+207%), an average of +32% a year. The sharpest change came in the year to December 2021, when income rose by 140%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Waves Ahead Corp sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 71st percentile within PR. Charities of a similar size with the same main cause include Columbian Charities of Mo Inc ($1.0m), Leadingage Maryland Inc ($1.0m) and At the Crossroads ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $446k against liabilities of $115k, net assets of $331k.