Wave Project

Analysis

Wave Project is a registered charity in United States, based in Clinton TWP, MI. It received its IRS tax-exemption ruling in October 2018, 8 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, Wave Project reported income of $228k and spending of $236k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $179k to $228k (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wave Project sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within MI. Charities of a similar size with the same main cause include Belton Area Citizens for Seniors ($228k), RH Helping Hands Inc ($228k) and Mom Starts Here Inc ($228k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $55k (23% of expenses). Other salaries and wages came to $47k. At year end it held assets of $190k against liabilities of $343, net assets of $190k. It reported 9 employees.