Civic Intelligence

Wave College Inc.

990 • Fiscal year 2022 • EIN 27-4269892

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileWWW.WAVECOLLEGE.EDU
1000 North Great Neck RdVirginia Beach, VA 23454

(757) 401-6125

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.35x

Higher debt load relative to assets than 82% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.06x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

25th percentile

-7.8%

Higher net margin than 25% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

77th percentile

$70,917

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

5th percentile

-37%

Faster asset growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

47th percentile

5.6%

Faster revenue growth than 47% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$153,574

Down $13,843 (-8.3%) from 2019

Net Assets

Down

$100,162

Down $16,018 (-14%) from 2019

Liabilities

Up

$53,412

Up $2,175 (+4.2%) from 2019

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin25th percentile

Revenue

Up

$878,283

Up $337,206 (+62%) from 2019

Expenses

Up

$946,458

Up $396,452 (+72%) from 2019

Net Income

Down

-$68,175

Down $59,246 (-664%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$300K$200K$100K$0Assets 2014: $83,083Liabilities 2014: $11,936Net Assets 2014: $71,1472014Assets 2015: $111,294Liabilities 2015: $38,700Net Assets 2015: $72,5942015Assets 2016: $209,054Liabilities 2016: $79,085Net Assets 2016: $129,9692016Assets 2017: $188,898Liabilities 2017: $54,658Net Assets 2017: $134,2402017Assets 2018: $160,148Liabilities 2018: $35,039Net Assets 2018: $125,1092018Assets 2019: $167,417Liabilities 2019: $51,237Net Assets 2019: $116,1802019Assets 2022: $153,574Liabilities 2022: $53,412Net Assets 2022: $100,1622022Assets 2025: $330Net Assets 2025: $3302025

Highlighted filing

2022

Assets$153,574
Liabilities$53,412
Net Assets$100,162
Open 2022 Filing

Operations Trend

Revenue Growth47th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $245,095Expenses 2014: $255,020Net Income 2014: -$9,9252014Revenue 2015: $287,645Expenses 2015: $286,198Net Income 2015: $1,4472015Revenue 2016: $441,531Expenses 2016: $384,157Net Income 2016: $57,3742016Revenue 2017: $517,596Expenses 2017: $513,325Net Income 2017: $4,2712017Revenue 2018: $564,109Expenses 2018: $573,240Net Income 2018: -$9,1312018Revenue 2019: $541,077Expenses 2019: $550,006Net Income 2019: -$8,9292019Revenue 2022: $878,283Expenses 2022: $946,458Net Income 2022: -$68,1752022Revenue 2025: $15,076Expenses 2025: $20,233Net Income 2025: -$5,1572025

Highlighted filing

2022

Revenue$878,283
Expenses$946,458
Net Income-$68,175
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$878,283
Mission and Program Overview

Mission

The mission of wave leadership college, as an experience-rich, academically-adept institution of biblical higher education, is to equip christian leaders to transform their communities for the glory of god.

The mission of wave leadership college, as a experience-rich, academically-adept institution of biblical higher education, is to equip christian leaders to build the local church and transform their communities for the glory of god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$151,295$147,831▼ $3,464
Accounts Receivable$52,489$35,096▼ $17,393
Cash and Non-Interest-Bearing Accounts$41,827$-29,353▼ $71,180
Total Assets$245,611$153,574▼ $92,037
Liabilities
Unsecured Notes Loans Payable$47,074$35,980▼ $11,094
Accounts Payable and Accrued Expenses$24,484$17,432▼ $7,052
Deferred Revenue$3,713--
Total Liabilities$75,271$53,412▼ $21,859
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$170,340$100,162▼ $70,178
Total Net Assets Fund Balance$170,340$100,162▼ $70,178
Total Liabilities and Net Assets / Fund Balance$245,611$153,574▼ $92,037

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$45,222$86,602$131,824
Buildings$94,733-$94,733
Leasehold Improvements$7,876$84,320$92,196
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah HummelCEOFT$70,917$70,917

Board Members and Trustees

NameTitle
Mark EdwardsChairman
Steve KellyPresident
Derek HolserVice-chairma
Devon ChandlerDirector
Jeff TouraultDirector
Kevin GreenDirector
Nicola SmithDirector
Joshua KickerOfficer
Robert SlowikSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$597,571
Program Service Revenue
$208,979
Investment Income
$0
Other Revenue
$71,733
All Other Contributions
$195,697
Change in Net Assets
$-68,175

Audited Revenue Reconciliation

Revenue per Audited Statements
$878,283
Total Revenue per Audited Statements
$878,283
Total Revenue per Form 990
$878,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$553,415
Other Expenses$349,884
Grants and Similar Amounts Paid$43,159
Total Fundraising Expense$20,135
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$416,253$47,845$14,353$478,451
Current Officers, Directors, Trustees, and Key Employees$61,698$7,092$2,127$70,917
Other Expenses$69,488$796-$70,284
Occupancy$58,790$6,681$1,336$66,807
Grants to Domestic Individuals$43,159--$43,159
Information Technology$11,028$18,905$1,575$31,508
Office Expenses$24,365$2,769$554$27,688
Fees for Services Other$20,926$2,325-$23,251
Travel$4,345--$4,345
Payroll Taxes$3,521$405$121$4,047
Depreciation Depletion$3,048$346$69$3,463
Total Functional Expenses$839,159$87,164$20,135$946,458

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$946,458
Total Expenses per Audited Statements$946,458
Total Expenses per Form 990$946,458
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
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, Page 6, Part VI, Line 11B

“The board reviews and approves form 990 prepared by a qualified independent accounting firm.”

Form 990, Page 6, Part VI, Line 12C

“Annually, the board reviews the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Wave College Inc
EIN
27-4269892
Phone
7574016125
Address
1000 NORTH GREAT NECK RD, VIRGINIA BEACH, VA 23454
Doing Business As
Wave Leadership College Inc

Signing Officer

Name
Joshua Kicker
Title
Officer
Phone
7574016125
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua Kicker
Formed
2010
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
14
Volunteers
11

Preparer

Firm
David C Moja CPA
Address
PO BOX 531, REIDSVILLE, GA 30453
Preparer
Dave Moja
Phone
3212589907
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of wave leadership college, as a experience-rich, academically-adept institution of biblical higher education, is to equip christian leaders to build the local church and transform their communities for the glory of god.”

Form 990, Part XI, Line 9

“Fundraising expenses 0 scholarships 0 fundraising expenses 0 scholarships 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“FUNDRAISING EXPENSES 0”

Schedule D, Page 4, Part XI, Line 4B

“SCHOLARSHIPS 0”

Schedule D, Page 4, Part XII, Line 2D

“FUNDRAISING EXPENSES 0”

Schedule D, Page 4, Part XII, Line 4B

“SCHOLARSHIPS 0”

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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0165820
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt094733
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt094733
IRS990ScheduleD/EquipmentGrp/BookValueAmt045222
IRS990ScheduleD/EquipmentGrp/DepreciationAmt086602
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0131824
IRS990ScheduleD/ExpensesSubtotalAmt0946458
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07876
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt084320
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt092196
IRS990ScheduleD/RevenueSubtotalAmt0878283
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SCHOLARSHIPS 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3SCHOLARSHIPS 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0147831
IRS990ScheduleD/TotalExpensesPerForm990Amt0946458
IRS990ScheduleD/TotalRevenuePerForm990Amt0878283
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0878283
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0946458
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0POLICY IS PRINTED ON LITERATURE AND PRINT ADS USED FOR MARKETING AND SOLICITATION AS WELL AS POSTED ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES FEDERAL FUNDING IN THE FORM OF PELL GRANTS AND DIRECT LOANS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt043159
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt040
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF WAVE LEADERSHIP COLLEGE, AS A EXPERIENCE-RICH, ACADEMICALLY-ADEPT INSTITUTION OF BIBLICAL HIGHER EDUCATION, IS TO EQUIP CHRISTIAN LEADERS TO BUILD THE LOCAL CHURCH AND TRANSFORM THEIR COMMUNITIES FOR THE GLORY OF GOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS AND APPROVES FORM 990 PREPARED BY A QUALIFIED INDEPENDENT ACCOUNTING FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FUNDRAISING EXPENSES 0 SCHOLARSHIPS 0 FUNDRAISING EXPENSES 0 SCHOLARSHIPS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0153574
IRS990/TotalAssetsGrp/BOYAmt0245611
IRS990/TotalAssetsGrp/EOYAmt0153574
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IRS990/TotalContributionsAmt0597571
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt020135
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt087164
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0839159
IRS990/TotalFunctionalExpensesGrp/TotalAmt0946458
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt075271
IRS990/TotalLiabilitiesEOYAmt053412
IRS990/TotalLiabilitiesGrp/BOYAmt075271
IRS990/TotalLiabilitiesGrp/EOYAmt053412
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0170340
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0100162
IRS990/TotalProgramServiceExpensesAmt0839159
IRS990/TotalProgramServiceRevenueAmt0208979
IRS990/TotalReportableCompFromOrgAmt070917
IRS990/TotalRevenueGrp/ExclusionAmt071733
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0208979
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0878283
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0245611
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0153574
IRS990/TravelGrp/ProgramServicesAmt04345
IRS990/TravelGrp/TotalAmt04345
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt047074
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt035980
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01000 NORTH GREAT NECK RD
IRS990/USAddress/CityNm0VIRGINIA BEACH
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023454
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.WAVECOLLEGE.EDU
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSHUA KICKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum07574016125
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAVE COLLEGE INC
ReturnHeader/Filer/BusinessNameControlTxt0WAVE
ReturnHeader/Filer/EIN0274269892
ReturnHeader/Filer/PhoneNum07574016125
ReturnHeader/Filer/USAddress/AddressLine1Txt01000 NORTH GREAT NECK RD

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$153,574
Liabilities
$53,412
Net assets
$100,162
Revenue
$878,283
Expenses
$946,458
Net income
-$68,175
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.15$0.20$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.54$0.53$1.00$8.78$9.46$0.68
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.67$0.51$1.16$5.41$5.50$0.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$0.35$1.25$5.64$5.73$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.89$0.55$1.34$5.18$5.13$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.09$0.79$1.30$4.42$3.84$0.57
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.39$0.73$2.88$2.86$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.83$0.12$0.71$2.45$2.55$0.10