Wave Aquatics

Analysis

Wave Aquatics is a registered charity in United States, based in Kirkland, WA. It received its IRS tax-exemption ruling in October 1987, 39 years ago. 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, Wave Aquatics reported income of $3.4m and spending of $3.4m, spending 101% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.6m to $3.4m (+34%), an average of +7.6% a year. The sharpest change came in the year to August 2021, when income rose by 67%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wave Aquatics sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within WA. Charities of a similar size with the same main cause include Veterans Education & Research Assoc of Northern New England Inc ($3.4m), Archaeology Southwest ($3.4m) and Colquitt Regional Health Inc ($3.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 2.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $129k (3.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $843k against liabilities of $251k, net assets of $592k. It reported 189 employees.