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Big Waves Foundation INC FY2022 filing

Tax-deductible

Broomfield, CO501(c)(3)Since 2018Recreation & SportsEIN 61-1913895Revenue $138K in FY2022

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.
60¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.5 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
$126
0.03% 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
$138K
-17% vs prior year
Spent
$68K
To programs
60%
Net assets
$476K
By yearFY2020–FY2025
Revenue
$138K
FY2022▼ -17%
Tap a bar for its year
Revenue by fiscal year
FY2020$97K
FY2021$166K
FY2022$138K
FY2023$86K
FY2024$200K
FY2025$111K
Expenses
$68K
FY2022▲ +70%
Tap a bar for its year
Expenses by fiscal year
FY2020$27K
FY2021$40K
FY2022$68K
FY2023$73K
FY2024$99K
FY2025$80K
Net assets
$476K
FY2022▲ +17%
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 FY2022 Form 990 · see the original

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You’re viewing the FY2022 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

60 cents of each dollar spent went to programs.

Program services 60% · $41K Management & general 14% · $10K Fundraising 26% · $18K

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 · $41K · in their own filed words · FY2022
01

This year was the first in many that felt "normal" where we could gather in person, shake hands, and even hug others. Although the world will never be the same having gone through the pandemic, we have all learned to adapt and move forward in functional ways.

$41Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$138K
Ln 12
Gifts and grantsLn 1h$53K
Other incomeLn 4–11$52K
Investment incomeLn 3$33K
Money outPt IX
$68K
Ln 25
Programscol B$41K
Managementcol C$10K
Fundraisingcol D$18K
Owns and owesPt X
$476K
net assets · Ln 32
Cash and savingsLn 1–2$88K
Total assetsLn 16$476K
LiabilitiesLn 26$126
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$53K
Noncash giftsLn 1g$20K
Fundraising eventsLn 1c$25K
Investment incomeLn 3$33K
Other incomeLn 4–11$52K
Gains on assetsLn 7$30K
Total revenueLn 12$138K
Assets in detailPt X, end of year
CashLn 1$88K
SavingsLn 2$145
Cash and savings togetherLn 1–2$88K
InvestmentsLn 11–13$388K
Total assetsLn 16$476K
LiabilitiesLn 26$126
Net assetsLn 32$476K
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 FY22End FY22
Cash and savingsLn 1–2$55K$88K
InvestmentsLn 11–13$351K$388K
Total assetsLn 16$406K$476K
LiabilitiesLn 26$76$126
Net assetsLn 32$406K$476K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$30K$30K
Accounting feesLn 11c$2K$2K
Investment management feesLn 11f$992$992
Other fees for servicesLn 11g$15K$15K
Advertising and promotionLn 12$8K$3K$3K$3K
Office expensesLn 13$1K$610$457$305
Information technologyLn 14$312$250$31$31
TravelLn 17$476$380$48$48
InsuranceLn 23$854$854
Other expenses (24a–d)Ln 24$10K$7K$3K
All other expensesLn 24e$216$136$80
Total functional expensesLn 25$68K$41K$10K$18K

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 Viewing $138K$68K$70K$476K 990 PDF
FY2021 $166K$40K$126K$406K 990 PDF
FY2020 $97K$27K$70K$281K 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 FY2022 990 (6 parts)
Part I · Summary $138,269 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $76,298$53,208
I-9 Program service revenue$0
I-10 Investment incomePrior year $45,589$33,366
I-11 Other revenuePrior year $43,807$51,695
I-12 Total revenuePrior year $165,694$138,269
I-13 Grants and similar amounts paidPrior year $21,500$30,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $18,620$38,152
I-18 Total expensesPrior year $40,120$68,152
I-19 Revenue less expensesPrior year $125,574$70,117
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 $138,269 across 8 lines filed
VIII-1c Fundraising events$25,020
VIII-1f All other contributions, gifts and grants$28,188
VIII-1g Noncash contributions (included above)$20,096
VIII-1h Total contributions, gifts and grants$53,208
VIII-3 Investment incomeExcluded from tax $3,035$3,035
VIII-7 Net gain or loss on sales of assetsExcluded from tax $30,331$30,331
VIII-8 Net income from fundraising eventsExcluded from tax $51,695$51,695
VIII-12 Total revenueExcluded from tax $85,061$138,269
Part IX · Statement of functional expenses $68,152 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $30,000$30,000
IX-11c Accounting feesManagement $1,540$1,540
IX-11f Investment management feesManagement $992$992
IX-11g Other fees for servicesFundraising $14,650$14,650
IX-12 Advertising and promotionPrograms $2,623 · Management $2,546 · Fundraising $2,546$7,715
IX-13 Office expensesPrograms $610 · Management $457 · Fundraising $305$1,372
IX-14 Information technologyPrograms $250 · Management $31 · Fundraising $31$312
IX-17 TravelPrograms $380 · Management $48 · Fundraising $48$476
IX-23 InsuranceManagement $854$854
IX-24 Other expenses (24a–d)Programs $6,790 · Management $3,235$10,025
IX-24e All other expensesPrograms $136 · Management $80$216
IX-25 Total functional expensesPrograms $40,789 · Management $9,783 · Fundraising $17,580$68,152
Part X · Balance sheet $476,074 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $50,238$88,031
X-2 Savings and temporary cash investmentsStart of year $4,879$145
X-11 Publicly traded securitiesStart of year $351,065$387,898
X-16 Total assetsStart of year $406,182$476,074
X-17 Accounts payable and accrued expensesStart of year $76$126
X-26 Total liabilitiesStart of year $76$126
X-27 Net assets without donor restrictionsStart of year $406,106$475,948
X-32 Total net assets or fund balancesStart of year $406,106$475,948
X-33 Total liabilities and net assetsStart of year $406,182$476,074
Part XI · Reconciliation of net assets $475,948 net assets at year end
XI-1 Total revenue$138,269
XI-2 Total expenses$68,152
XI-3 Revenue less expenses$70,117
XI-4 Net assets at start of year$406,106
XI-9 Other changes in net assets−$275
XI-10 Net assets at end of year$475,948

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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