LA Ola Ministries-The Wave

Analysis

LA Ola Ministries-The Wave is a registered charity in United States, based in Jackson, TN. It received its IRS tax-exemption ruling in February 2014, 12 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 December 2023, LA Ola Ministries-The Wave reported income of $627k and spending of $350k, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $407k to $627k (+54%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 58% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, LA Ola Ministries-The Wave sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within TN. Charities of a similar size with the same main cause include Rotary Club of Coronado Foundation ($627k), Hope Center of Maryland ($627k) and Masonicare at Mystic Inc ($627k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $17k (4.7% of expenses). Other salaries and wages came to $48k. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 16 employees.