Wave Services Inc

Analysis

Wave Services Inc is a registered charity in United States, based in Malibu, CA. It received its IRS tax-exemption ruling in December 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Wave Services Inc reported income of $20.4m and spending of $1.7m, leaving 92% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $506k to $20.4m (+3934%), an average of +152% a year. The sharpest change came in the year to July 2023, when income rose by 1649%. Over the whole period it spent 21% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wave Services Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Kipp Philadelphia Charter School ($20.4m), Legacy21 Inc ($20.4m) and Williamsburg Charter School ($20.4m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $151.6m against liabilities of $66.6m, net assets of $85.0m.