Wave Enterprises INC EIN 95-4274572 Form 990 (PDF) Claim this org

Wave Enterprises INC

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Supports Pepperdine University's educational and research endeavors. For fiscal year 2024 it reported $-2.5M in revenue, $390K in expenses, and $11.7M in net assets.Pt I

Founded
1989
Type
Supporting organization · Colleges & Universities
Location
Malibu, CA
Website
www.pepperdine.edu
Filings
5 on file (2020–2024)
Revenue
$-2.5MFY2024
Expenses
$390K
Net assets
$11.7M
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  95-4274572 Supporting organization Malibu, CA Founded 1989
Form 990 (PDF)
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Size
<$100K
What they do
Supports Pepperdine University's educational and research endeavors.
Leadership
Daniel Dewalt · Director & Vice President
Money in and out
$-2.5M revenue, $390K expenses
Bottom line
2% program spending
Money in and out · FY2024
Total revenue
$-2.5M
Pt VIII · Ln 12
Total expenses
$390K
Pt IX · Ln 25
Net assets
$11.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2.9M
Where spending went · Part IX cols B–D
Program services $0.02 Management & general $0.98
Program spending
2%
of expenses reach stated programs▼ -9% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$-2.5M
FY2024▼ -8220%
Expenses
$390K
FY2024▼ -5%
Total assets
$20.2M
FY2024▼ -10%
Total liabilities
$8.5M
FY2024▼ -22%
Total revenue
$-2.5M
Pt VIII · Ln 12
Total expenses
$390K
Pt IX · Ln 25
Net assets
$11.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2.9M
Total assetsPt X · Ln 16$20.2M
Program-expense ratioPt IX · col B2%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 41
Mission & Programs · Part III

Where the work happens

1 program service account for $7K of program spending, described in the organization's own filed words · FY2024.
01

Wave enterprises, inc. Is a supporting organization of pepperdine university. As such, wave enterprises, inc. Manages assets, earns income, and pays expenses solely for the benefit of pepperdine university.

$7Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWave Enterprises INC
EINHdr · item D95-4274572
Principal addressHdr · item CMalibu, CA
WebsiteHdr · item Jwww.pepperdine.edu
Year of formationHdr · item L1989
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B43I)
Ruling yearIRS BMFSep 1990

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b1
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director & Vice President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Ex Officio
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Chief Financial Officer/Treasurer
$0Pt VII · Sec A
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Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.02 Management & general $0.98
Program services2%$7K
Management & general98%$384K
Total functional expensesLn 25$390K

Balance Sheet

Part X · end of year
CashLn 1$363K
Total assetsLn 16$20.2M
Total liabilitiesLn 26$8.5M
Total net assetsLn 32$11.7M
Months of cash on handcomputed11.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $485K · Operating expenses/yr $390K
14.9 months
Where the money goes
Program services
Program services $7K · Total expenses $390K
2%
Management & General
Management & general $384K · Total expenses $390K
98%
Fundraising
Fundraising $0 · Total expenses $390K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $2K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $-2.5M
Government reliance
Government grants — · Total revenue $-2.5M
Earned-income share
Program service revenue $0 · Total revenue $-2.5M
Investment reliance
Investment income $-2.2M · Total revenue $-2.5M
Program self-sufficiency
Program service revenue $0 · Total expenses $390K
0%
Growth & trend
Revenue growth (YoY)
This year $-2.5M · Prior year $31K
-8220%
Net-asset trend (YoY)
End of year $11.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $-2.5M · Expenses $390K
Liabilities-to-Assets
Total liabilities — · Total assets $20.2M
Net-asset ratio
Net assets $11.7M · Total assets $20.2M
58%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $122K · Total assets (Pt X, ln 16) $20.2M
0.6%
People & payroll
Highest Reported Total Compensation
Individual Daniel Dewalt · Reported title DIRECTOR & VICE PRESIDENT · Highest reported compensation $0 · Total expenses $390K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $390K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 2%
Overhead ratio 98%
Revenue growth -8220%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $730K · 2020–2024
Pepperdine UniversityCA · FY2024$6,900
Pepperdine UniversityCA · FY2023$7,953
Pepperdine UniversityCA · FY2022$6,325
Pepperdine UniversityCA · FY2021$56,617
Pepperdine UniversityCA · FY2020$651,942

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$31K revenue · ⤓ 990 PDF
FY2023$-109K revenue · ⤓ 990 PDF
FY2022$-459K revenue · ⤓ 990 PDF
FY2021$15.0M revenue · ⤓ 990 PDF
FY2020$6.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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