One More Wave Surf Corp

Tax-deductible

San Diego, CA501(c)(3)Public & Societal BenefitEIN 47-3300674

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Provides surfboards and/or surfing equipment to veterans customized to their injuries, as well as community so they can achieve Surf therapy on a daily basis

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Run by 30 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $27K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$104K
to officers and key staff · 12% of spending
Top officer’s pay higher than 78% of similar orgs
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$17K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$817K
+141% vs prior year
Spent
$848K
To programs
93%
Net assets
$94K
By yearFY2020–FY2024
Revenue
$817K
FY2024▲ +141%
Revenue by fiscal year
FY2020$453K
FY2021$448K
FY2022$571K
FY2023$340K
FY2024$817K
Expenses
$848K
FY2024▲ +101%
Expenses by fiscal year
FY2020$496K
FY2021$567K
FY2022$430K
FY2023$422K
FY2024$848K
Net assets
$94K
FY2024▼ -24%
Net assets by fiscal year
FY2020$184K
FY2021$65K
FY2022$206K
FY2023$124K
FY2024$94K

From the FY2024 Form 990 (year ending April 2024) · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $789K Management & general 7% · $59K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $104K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Key Employee
$104,000Pt VII · Sec A
Chairman/Board Member
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rob Garrett’s $104K as Key Employee is at the 78th percentile of top reported officer pay among 1043 $100K–1M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rob Garrett$104,000$97,240$94,000$94,000$90,000
Alex West—$35,417$50,000$25,000—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Equips veterans with customized surfboards and gear for daily surf therapy and community.

Provided by the organization

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1 program service account for $789K of program spending, described in the organization's own filed words · FY2023.
01

Provide surfboards AND/OR surfing equipment to veterans customized to their injuries, as well as community so they can achieve surf therapy on a daily basis

$789Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$817K
Ln 12
Gifts and grantsLn 1h$817K
Investment incomeLn 3$8
Money outPt IX
$848K
Ln 25
Programscol B$789K
Managementcol C$59K
Owns and owesPt X
$94K
net assets · Ln 32
Cash and savingsLn 1–2$92K
Total assetsLn 16$111K
LiabilitiesLn 26$17K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$817K
Fundraising eventsLn 1c$505K
Investment incomeLn 3$8
Total revenueLn 12$817K
Assets in detailPt X, end of year
CashLn 1$92K
Cash and savings togetherLn 1–2$92K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$111K
LiabilitiesLn 26$17K
Net assetsLn 32$94K
OperationsPt I, VI
EmployeesI 51
VolunteersI 630
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$119K$92K
Land, buildings, equipmentLn 10c$340$8K
Total assetsLn 16$130K$111K
LiabilitiesLn 26$6K$17K
Net assetsLn 32$124K$94K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$217K$217K
Pay of current officers, directors and key staffLn 5$104K$104K$0$0
Other salaries and wagesLn 7$30K$30K$0$0
Payroll taxesLn 10$8K$7K$1K$0
Management feesLn 11a$31$26$5$0
Accounting feesLn 11c$4K$0$4K$0
Advertising and promotionLn 12$188K$160K$28K$0
Office expensesLn 13$25K$21K$4K$0
Information technologyLn 14$51K$44K$8K$0
OccupancyLn 16$134K$134K$660$0
TravelLn 17$8K$7K$1K$0
InterestLn 20$86$73$13$0
Depreciation, depletion and amortizationLn 22$743$632$111$0
InsuranceLn 23$5K$4K$725$0
Other expenses (24a–d)Ln 24$47K$40K$7K$0
All other expensesLn 24e$25K$21K$4K$0
Total functional expensesLn 25$848K$789K$59K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $817K$848K−$31K$94K 990 PDF
FY2023 $340K$422K−$82K$124K 990 PDF
FY2022 $571K$430K$141K$206K 990 PDF
FY2021 $448K$567K−$119K$65K 990 PDF
FY2020 $453K$496K−$43K$184K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $817,320 across 5 lines filed
VIII-1c Fundraising events$505,015
VIII-1f All other contributions, gifts and grants$312,297
VIII-1h Total contributions, gifts and grants$817,312
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$8
VIII-12 Total revenueRelated to mission $8 · Unrelated business $0 · Excluded from tax $0$817,320
Part IX · Statement of functional expenses $848,051 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $216,890$216,890
IX-5 Pay of current officers, directors and key staffPrograms $104,000 · Management $0 · Fundraising $0$104,000
IX-7 Other salaries and wagesPrograms $29,533 · Management $0 · Fundraising $0$29,533
IX-10 Payroll taxesPrograms $7,065 · Management $1,247 · Fundraising $0$8,312
IX-11a Management feesPrograms $26 · Management $5 · Fundraising $0$31
IX-11c Accounting feesPrograms $0 · Management $4,188 · Fundraising $0$4,188
IX-12 Advertising and promotionPrograms $160,086 · Management $28,250 · Fundraising $0$188,336
IX-13 Office expensesPrograms $20,939 · Management $3,678 · Fundraising $0$24,617
IX-14 Information technologyPrograms $43,665 · Management $7,706 · Fundraising $0$51,371
IX-16 OccupancyPrograms $133,660 · Management $660 · Fundraising $0$134,320
IX-17 TravelPrograms $7,054 · Management $1,204 · Fundraising $0$8,258
IX-20 InterestPrograms $73 · Management $13 · Fundraising $0$86
IX-22 Depreciation, depletion and amortizationPrograms $632 · Management $111 · Fundraising $0$743
IX-23 InsurancePrograms $4,109 · Management $725 · Fundraising $0$4,834
IX-24 Other expenses (24a–d)Programs $40,338 · Management $7,119 · Fundraising $0$47,457
IX-24e All other expensesPrograms $21,313 · Management $3,762 · Fundraising $0$25,075
IX-25 Total functional expensesPrograms $789,383 · Management $58,668 · Fundraising $0$848,051
Part X · Balance sheet $110,909 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $118,696$92,158
X-8 Inventories for sale or useStart of year $11,102$11,102
X-10c Land, buildings and equipment, netStart of year $340$7,649
X-16 Total assetsStart of year $130,138$110,909
X-17 Accounts payable and accrued expensesStart of year $6,417$16,572
X-26 Total liabilitiesStart of year $6,417$16,572
X-27 Net assets without donor restrictionsStart of year $123,721$94,337
X-32 Total net assets or fund balancesStart of year $123,721$94,337
X-33 Total liabilities and net assetsStart of year $130,138$110,909
Part XI · Reconciliation of net assets $94,337 net assets at year end
XI-1 Total revenue$817,320
XI-2 Total expenses$848,051
XI-3 Revenue less expenses−$30,731
XI-4 Net assets at start of year$123,721
XI-10 Net assets at end of year$94,337

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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