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Big Waves Foundation INC FY2021 filing

Tax-deductible

Broomfield, CO501(c)(3)Since 2018Recreation & SportsEIN 61-1913895Revenue $166K in FY2021

On file with the IRSbigwavesinc.org14622 Stellas Meadow Dr, 80023-8401 · Broomfield, COTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Our mission is to encourage positive mind and body health by providing opportunity and outlet for young athletes to participate in water polo with the intention that this space creates a healthy environment for young athletes to feel and process different emotions. Our vision is to provide a constructive outlet for youth to overcome difficult emotions in order to process them in a healthy way. In doing this, Big Waves intends on further impacting legislation around mental health and gun violence.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $68K a year · 51% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 16.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$76
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$166K
+70% vs prior year
Spent
$40K
To programs
66%
Net assets
$406K
By yearFY2020–FY2025
Revenue
$166K
FY2021▲ +70%
Tap a bar for its year
Revenue by fiscal year
FY2020$97K
FY2021$166K
FY2022$138K
FY2023$86K
FY2024$200K
FY2025$111K
Expenses
$40K
FY2021▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2020$27K
FY2021$40K
FY2022$68K
FY2023$73K
FY2024$99K
FY2025$80K
Net assets
$406K
FY2021▲ +45%
Tap a bar for its year
Net assets by fiscal year
FY2020$281K
FY2021$406K
FY2022$476K
FY2023$489K
FY2024$589K
FY2025$621K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $26K Management & general 22% · $9K Fundraising 13% · $5K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Vaughn Bigelow
Executive Di
$0Pt VII · Sec A
Joseph Perotto
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dr Sean Whalen
Board Member
$0Pt VII · Sec A
Christy Schafer
Board Member
$0Pt VII · Sec A
Brian Hoven
Board Member
$0Pt VII · Sec A
See Big Waves Foundation INC executive salaries →

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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

Promotes youth water polo for healthy emotional processing and advocacy.

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Provided by the organization

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1 program · $26K · in their own filed words · FY2021
01

2021 service accomplishments: big waves hosted three community blood drives yielding nearly 100 units of blood. Provided 5,000 tuition assistance for the 2019 scholarship award, provided 5,000 tuition assistance for the 2020 scholarship award and provided two 5,000 tuition assistance for 2021.

$26Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Donor Advised Charitable Giving INCFY2023$6K
Amazonsmile FoundationFY2023$147
Total grants receivedfrom 2 funders$6K
Grants paid · 9 grants · $183K · 2020–2025
Unitemized GrantFY2025$35,000
Unitemized GrantFY2024$35,700
Colorado High School Water Polo AssociationCO · FY2024$20,000
Unitemized GrantFY2023$30,000
Unitemized GrantFY2023$1,050
Unitemized GrantFY2022$30,000
Unitemized GrantFY2021$20,000
Unitemized GrantFY2021$1,000
Unitemized GrantFY2020$10,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$166K
Ln 12
Gifts and grantsLn 1h$76K
Investment incomeLn 3$46K
Other incomeLn 4–11$44K
Money outPt IX
$40K
Ln 25
Programscol B$26K
Managementcol C$9K
Fundraisingcol D$5K
Owns and owesPt X
$406K
net assets · Ln 32
Cash and savingsLn 1–2$55K
Total assetsLn 16$406K
LiabilitiesLn 26$76
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$76K
Government grantsLn 1e$5K
Noncash giftsLn 1g$17K
Fundraising eventsLn 1c$20K
Investment incomeLn 3$46K
Other incomeLn 4–11$44K
Gains on assetsLn 7$44K
Total revenueLn 12$166K
Assets in detailPt X, end of year
CashLn 1$50K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$55K
InvestmentsLn 11–13$351K
Total assetsLn 16$406K
LiabilitiesLn 26$76
Net assetsLn 32$406K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$169K$55K
InvestmentsLn 11–13$112K$351K
Total assetsLn 16$281K$406K
LiabilitiesLn 26$419$76
Net assetsLn 32$281K$406K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$500$500
Grants to domestic individualsLn 2$21K$21K
Accounting feesLn 11c$2K$2K
Investment management feesLn 11f$931$931
Advertising and promotionLn 12$9K$3K$3K$3K
Office expensesLn 13$559$559
Information technologyLn 14$312$250$31$31
InterestLn 20$39$39
InsuranceLn 23$854$854
Other expenses (24a–d)Ln 24$5K$1K$2K$2K
All other expensesLn 24e$912$90$152$670
Total functional expensesLn 25$40K$26K$9K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $111K$80K$31K$621K 990 PDF
FY2024 $200K$99K$101K$589K 990 PDF
FY2023 $86K$73K$13K$489K 990 PDF
FY2022 $138K$68K$70K$476K 990 PDF
FY2021 Viewing $166K$40K$126K$406K 990 PDF
FY2020 $97K$27K$70K$281K 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 FY2021 990 (6 parts)
Part I · Summary $165,694 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,146$76,298
I-9 Program service revenue$0
I-10 Investment incomePrior year $18,659$45,589
I-11 Other revenuePrior year $33,576$43,807
I-12 Total revenuePrior year $97,381$165,694
I-13 Grants and similar amounts paidPrior year $13,300$21,500
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $13,970$18,620
I-18 Total expensesPrior year $27,270$40,120
I-19 Revenue less expensesPrior year $70,111$125,574
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $165,694 across 9 lines filed
VIII-1c Fundraising events$20,370
VIII-1e Government grants$5,000
VIII-1f All other contributions, gifts and grants$50,928
VIII-1g Noncash contributions (included above)$17,413
VIII-1h Total contributions, gifts and grants$76,298
VIII-3 Investment incomeExcluded from tax $1,989$1,989
VIII-7 Net gain or loss on sales of assetsExcluded from tax $43,600$43,600
VIII-8 Net income from fundraising eventsExcluded from tax $43,807$43,807
VIII-12 Total revenueExcluded from tax $89,396$165,694
Part IX · Statement of functional expenses $40,120 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $500$500
IX-2 Grants to domestic individualsPrograms $21,000$21,000
IX-11c Accounting feesManagement $1,554$1,554
IX-11f Investment management feesManagement $931$931
IX-12 Advertising and promotionPrograms $2,977 · Management $2,890 · Fundraising $2,890$8,757
IX-13 Office expensesManagement $559$559
IX-14 Information technologyPrograms $250 · Management $31 · Fundraising $31$312
IX-20 InterestManagement $39$39
IX-23 InsuranceManagement $854$854
IX-24 Other expenses (24a–d)Programs $1,498 · Management $1,649 · Fundraising $1,555$4,702
IX-24e All other expensesPrograms $90 · Management $152 · Fundraising $670$912
IX-25 Total functional expensesPrograms $26,315 · Management $8,659 · Fundraising $5,146$40,120
Part X · Balance sheet $406,182 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $19,666$50,238
X-2 Savings and temporary cash investmentsStart of year $149,731$4,879
X-11 Publicly traded securitiesStart of year $111,620$351,065
X-16 Total assetsStart of year $281,017$406,182
X-17 Accounts payable and accrued expensesStart of year $419$76
X-26 Total liabilitiesStart of year $419$76
X-27 Net assets without donor restrictionsStart of year $280,598$406,106
X-32 Total net assets or fund balancesStart of year $280,598$406,106
X-33 Total liabilities and net assetsStart of year $281,017$406,182
Part XI · Reconciliation of net assets $406,106 net assets at year end
XI-1 Total revenue$165,694
XI-2 Total expenses$40,120
XI-3 Revenue less expenses$125,574
XI-4 Net assets at start of year$280,598
XI-9 Other changes in net assets−$66
XI-10 Net assets at end of year$406,106

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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