One More Wave Surf Corp FY2020 filing

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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.
97¢ of each $1 spent went to programs.
$90K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$90K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
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
$5K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$453K
Spent
$496K
To programs
97%
Net assets
$184K
By yearFY2020–FY2024
Revenue
$453K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$453K
FY2021$448K
FY2022$571K
FY2023$340K
FY2024$817K
Expenses
$496K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$496K
FY2021$567K
FY2022$430K
FY2023$422K
FY2024$848K
Net assets
$184K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$184K
FY2021$65K
FY2022$206K
FY2023$124K
FY2024$94K

From the FY2020 Form 990 (year ending April 2020) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

97 cents of each dollar spent went to programs.

Program services 97% · $482K Management & general 3% · $14K Fundraising 0% · $868

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; $90K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Key Employee
$90,000Pt VII · Sec A
Chairman/Board Member
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$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.

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Provided by the organization

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1 program · $482K · in their own filed words · FY2019
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

$482Kprogram expense

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 FY2020 990, line by line.

1The main four
Money inPt VIII
$453K
Ln 12
Gifts and grantsLn 1h$453K
Investment incomeLn 3$4
Money outPt IX
$496K
Ln 25
Programscol B$482K
Managementcol C$14K
Fundraisingcol D$868
Owns and owesPt X
$184K
net assets · Ln 32
Cash and savingsLn 1–2$136K
Total assetsLn 16$189K
LiabilitiesLn 26$5K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$453K
Fundraising eventsLn 1c$30K
Investment incomeLn 3$4
Total revenueLn 12$453K
Assets in detailPt X, end of year
CashLn 1$136K
Cash and savings togetherLn 1–2$136K
Land, buildings, equipmentLn 10c$46K
Total assetsLn 16$189K
LiabilitiesLn 26$5K
Net assetsLn 32$184K
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 FY20End FY20
Cash and savingsLn 1–2$144K$136K
Land, buildings, equipmentLn 10c$76K$46K
Total assetsLn 16$227K$189K
LiabilitiesLn 26$3K$5K
Net assetsLn 32$224K$184K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$251K$251K
Other salaries and wagesLn 7$96K$96K$0$0
Payroll taxesLn 10$8K$8K$0$0
Advertising and promotionLn 12$33K$28K$5K$0
Office expensesLn 13$8K$7K$1K$0
Information technologyLn 14$24K$20K$4K$0
TravelLn 17$6K$6K$0$0
Conferences, conventions and meetingsLn 19$485$412$73$0
InterestLn 20$892$759$133$0
Depreciation, depletion and amortizationLn 22$30K$30K$151$302
InsuranceLn 23$4K$3K$0$566
Other expenses (24a–d)Ln 24$6K$3K$2K$0
All other expensesLn 24e$30K$28K$2K$0
Total functional expensesLn 25$496K$482K$14K$868

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $453K$496K−$43K$184K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $453,064 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $233,862$453,060
I-9 Program service revenue$0
I-10 Investment incomePrior year $5$4
I-11 Other revenue$0
I-12 Total revenuePrior year $233,867$453,064
I-13 Grants and similar amounts paidPrior year $242,445$251,338
I-14 Benefits paid to members$0
I-15 Salaries and benefits$103,909
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $114,509$141,030
I-18 Total expensesPrior year $356,954$496,277
I-19 Revenue less expensesPrior year −$123,087−$43,213
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $453,064 across 5 lines filed
VIII-1c Fundraising events$30,307
VIII-1f All other contributions, gifts and grants$422,753
VIII-1h Total contributions, gifts and grants$453,060
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$4
VIII-12 Total revenueRelated to mission $4 · Unrelated business $0 · Excluded from tax $0$453,064
Part IX · Statement of functional expenses $496,277 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $251,338$251,338
IX-7 Other salaries and wagesPrograms $95,812 · Management $0 · Fundraising $0$95,812
IX-10 Payroll taxesPrograms $8,097 · Management $0 · Fundraising $0$8,097
IX-12 Advertising and promotionPrograms $27,919 · Management $4,927 · Fundraising $0$32,846
IX-13 Office expensesPrograms $6,584 · Management $1,162 · Fundraising $0$7,746
IX-14 Information technologyPrograms $20,231 · Management $3,570 · Fundraising $0$23,801
IX-17 TravelPrograms $6,011 · Management $0 · Fundraising $0$6,011
IX-19 Conferences, conventions and meetingsPrograms $412 · Management $73 · Fundraising $0$485
IX-20 InterestPrograms $759 · Management $133 · Fundraising $0$892
IX-22 Depreciation, depletion and amortizationPrograms $29,757 · Management $151 · Fundraising $302$30,210
IX-23 InsurancePrograms $3,208 · Management $0 · Fundraising $566$3,774
IX-24 Other expenses (24a–d)Programs $3,341 · Management $2,204 · Fundraising $0$5,545
IX-24e All other expensesPrograms $28,127 · Management $1,593 · Fundraising $0$29,720
IX-25 Total functional expensesPrograms $481,596 · Management $13,813 · Fundraising $868$496,277
Part X · Balance sheet $189,176 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $144,027$135,582
X-8 Inventories for sale or use$7,326
X-9 Prepaid expenses and deferred chargesStart of year $6,260$0
X-10c Land, buildings and equipment, netStart of year $76,478$46,268
X-16 Total assetsStart of year $226,765$189,176
X-17 Accounts payable and accrued expensesStart of year $2,821$4,997
X-26 Total liabilitiesStart of year $2,821$4,997
X-27 Net assets without donor restrictionsStart of year $223,944$184,179
X-32 Total net assets or fund balancesStart of year $223,944$184,179
X-33 Total liabilities and net assetsStart of year $226,765$189,176
Part XI · Reconciliation of net assets $184,179 net assets at year end
XI-1 Total revenue$453,064
XI-2 Total expenses$496,277
XI-3 Revenue less expenses−$43,213
XI-4 Net assets at start of year$223,944
XI-10 Net assets at end of year$184,179

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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