Civic Intelligence

Third Wave Foundation

990 • Fiscal year 2014 • EIN 13-3670260

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 08, 2015

Organization Profilewww.thirdwavefoundation.org

View Organization Page

PO Box 1159Brooklyn, NY 11238

(212) 228-8311

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.06x

Higher debt load relative to assets than 71% of similar nonprofits.

2014 filings • NTEE R • <$500k nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

0.63x

Higher debt load relative to revenue than 92% of similar nonprofits.

2014 filings • NTEE R • <$500k nonprofits • Source year 2014

Net Margin

3rd percentile

-767%

Higher net margin than 3% of similar nonprofits.

2014 filings • NTEE R • <$500k nonprofits • Source year 2014

Top Officer Pay

64th percentile

$13,825

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 108.4% of source-year revenue.

2014 filings • NTEE R • <$500k nonprofits • Source year 2014

Asset Growth

9th percentile

-70%

Faster asset growth than 9% of similar nonprofits.

2014 filings • NTEE R • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

5th percentile

-88%

Faster revenue growth than 5% of similar nonprofits.

2014 filings • NTEE R • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$138,801

Down $319,189 (-70%) from 2013

Net Assets

Down

$130,801

Down $293,789 (-69%) from 2013

Liabilities

Down

$8,000

Down $25,400 (-76%) from 2013

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin3rd percentile

Revenue

Down

$12,753

Down $91,650 (-88%) from 2013

Expenses

Down

$110,519

Down $260,733 (-70%) from 2013

Net Income

Up

-$97,766

Up $169,083 (+63%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2011: $779,568Liabilities 2011: $117,256Net Assets 2011: $662,3122011Assets 2012: $767,010Liabilities 2012: $61,525Net Assets 2012: $705,4852012Assets 2013: $457,990Liabilities 2013: $33,400Net Assets 2013: $424,5902013Assets 2014: $138,801Liabilities 2014: $8,000Net Assets 2014: $130,8012014

Highlighted filing

2014

Assets$138,801
Liabilities$8,000
Net Assets$130,801
Open 2014 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,006,748Expenses 2011: $1,252,690Net Income 2011: -$245,9422011Expenses 2012: $690,0402012Revenue 2013: $104,403Expenses 2013: $371,252Net Income 2013: -$266,8492013Revenue 2014: $12,753Expenses 2014: $110,519Net Income 2014: -$97,7662014

Highlighted filing

2014

Revenue$12,753
Expenses$110,519
Net Income-$97,766
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 8, 2015
Return Version
2014v5.0
Gross Receipts
$12,753
Mission and Program Overview

Mission

The board members of Third Wave resolved to wind down operations and transfer its remaining assets to a partnering organization. This process was still on going in 2014.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$246,592$0▼ $246,592
Investments in Publicly Traded Securities$135,169$138,801▲ $3,632
Cash and Non-Interest-Bearing Accounts$50,928$0▼ $50,928
Prepaid Expenses and Deferred Charges$12,933$0▼ $12,933
Pledges and Grants Receivable$12,368$0▼ $12,368
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$457,990$138,801▼ $319,189
Other Assets Total-$0-
Liabilities
Other Liabilities$10,791--
Accounts Payable and Accrued Expenses$22,609$8,000▼ $14,609
Total Liabilities$33,400$8,000▼ $25,400
Net Assets / Fund Balance
Permanently Rstr Net Assets$122,088$122,088→ $0
Temporarily Rstr Net Assets$11,900$11,900→ $0
Unrestricted Net Assets$290,602$-3,187▼ $293,789
Total Net Assets Fund Balance$424,590$130,801▼ $293,789
Total Liabilities and Net Assets / Fund Balance$457,990$138,801▼ $319,189

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$40,308$40,308
Other Land Buildings-$6,363$6,363
Leasehold Improvements-$3,702$3,702

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$135,169-▲ $3,632-$138,801
2013$117,907-▲ $17,262-$135,169
2012$107,038-▲ $10,869-$117,907
2011$112,737-▼ $2,699$3,000$107,038
2010$104,526-▲ $8,211-$112,737
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rosalba MessinaInterim EDPT$13,825$13,825

Board Members and Trustees

NameTitle
Amoretta MorrisCo-Chair
Mia Kim SullivanCo-Chair
Dana KingMember
Diana ChavezMember
Dior VargasMember
Melissa MeadeMember
Sara JosephMember
Sonya ShieldsMember
Yvonne TranMember
Andrea FlynnSecretary
Darshan KhalsaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,580
Program Service Revenue
$0
Investment Income
$2,383
Other Revenue
$3,790
All Other Contributions
$6,580
Change in Net Assets
$-97,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$94,966
Salaries, Compensation, and Employee Benefits$15,553
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$45,849-$45,849
Fees for Services Other-$37,317-$37,317
Other Salaries and Wages-$10,115-$10,115
Payroll Taxes-$5,438-$5,438
Office Expenses-$3,475-$3,475
Other Expenses-$1,327-$1,327
Insurance-$787-$787
Total Functional Expenses$0$110,519$0$110,519
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

“The board resolved to wind down operations and transfer its remaining assets to a partnering organization. This process was on going in 2014.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Organizational documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Third Wave Foundation
EIN
13-3670260
Address
PO Box 1159, Brooklyn, NY 11238

Signing Officer

Name
Mia Kim Sullivan
Title
Co-Chair
Signed
2015-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rosalba Messina
Formed
2001
Legal Domicile
De
Voting Board Members
11
Independent Board Members
11
Employees
1

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
David C Ashenfarb
Phone
2122682800
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Distribution of cash = -$198656”

Financial Statement Notes

Part X : FIN48 Footnote

“Third Wave does not believe its financial statements include any material, uncertain tax positions. Tax filings for the periods ending December 31, 2011 and later are subject to examination by applicable taxing authorities.”

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IRS990/OtherExpensesGrp/TotalAmt12358
IRS990/OtherExpensesGrp/TotalAmt21375
IRS990/OtherExpensesGrp/TotalAmt31327
IRS990/OtherLiabilitiesGrp/BOYAmt010791
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt010115
IRS990/OtherSalariesAndWagesGrp/TotalAmt010115
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0true
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05438
IRS990/PayrollTaxesGrp/TotalAmt05438
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0122088
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0122088
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt012368
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012933
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Rosalba Messina
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt033438
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt050000
IRS990/PYInvestmentIncomeAmt01514
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0262703
IRS990/PYOtherRevenueAmt069451
IRS990/PYRevenuesLessExpensesAmt0-266849
IRS990/PYSalariesCompEmpBnftPaidAmt058549
IRS990/PYTotalExpensesAmt0371252
IRS990/PYTotalRevenueAmt0104403
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-97766
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt03790
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0246592
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt06580
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt033438
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0659669
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0973686
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0415854
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02089227
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02383
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02747
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01923
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt05133
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08472
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt020658
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.50950
IRS990ScheduleA/PublicSupportPY170Pct00.46050
IRS990ScheduleA/PublicSupportTotal170Amt01074999
IRS990ScheduleA/SubstantialContributorsTotAmt01014228
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06580
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt033438
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0659669
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0973686
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0415854
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02089227
IRS990ScheduleA/TotalSupportAmt02109885
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0135169
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0138801
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt03632
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0117907
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0135169
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt017262
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0107038
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0117907
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt010869
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0112737
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0107038
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-2699
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt03000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0104526
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0112737
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt08211
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt040308
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt040308
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03702
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03702
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06363
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06363
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.90000
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Third Wave does not believe its financial statements include any material, uncertain tax positions. Tax filings for the periods ending December 31, 2011 and later are subject to examination by applicable taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.10000
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Proteus Fund Inc
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02014-03-13
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0043243004
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0198656
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(c)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0Market value
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt015 Research Drive Suite B
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Amherst

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,801
Liabilities
$8,000
Net assets
$130,801
Revenue
$12,753
Expenses
$110,519
Net income
-$97,766
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.14$0.01$0.13$0.01$0.11$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.46$0.03$0.42$0.10$0.37$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.06$0.71$0.69
2011Summary only. Only limited summary data is available for this year.$0.78$0.12$0.66$1.01$1.25$0.25
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • <$500k nonprofits