Civic Intelligence

Thousand Waves Foundation Nfp

990 • Fiscal year 2020 • EIN 36-4471839

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 24, 2021

Organization ProfileWWW.THOUSANDWAVES.ORG
1220 W Belmont AvenueChicago, IL 60657-3207

(773) 472-7663

Siviq Scores

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

Liabilities / Assets

69th percentile

0.20x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.17x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

70th percentile

$58,262

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 11.1% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

78th percentile

37%

Faster asset growth than 78% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-5.8%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$450,399

Up $122,662 (+37%) from 2019

Net Assets

Up

$360,099

Up $57,738 (+19%) from 2019

Liabilities

Up

$90,300

Up $64,924 (+256%) from 2019

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin58th percentile

Revenue

Down

$526,801

Down $32,168 (-5.8%) from 2019

Expenses

Down

$469,063

Down $175,619 (-27%) from 2019

Net Income

Up

$57,738

Up $143,451 (+167%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$800K$600K$400K$200K$0Assets 2017: $438,521Liabilities 2017: $32,484Net Assets 2017: $406,0372017Assets 2018: $409,938Liabilities 2018: $21,864Net Assets 2018: $388,0742018Assets 2019: $327,737Liabilities 2019: $25,376Net Assets 2019: $302,3612019Assets 2020: $450,399Liabilities 2020: $90,300Net Assets 2020: $360,0992020Assets 2021: $435,145Liabilities 2021: $22,693Net Assets 2021: $412,4522021Assets 2022: $402,204Liabilities 2022: $23,652Net Assets 2022: $378,5522022Assets 2023: $619,638Liabilities 2023: $208,095Net Assets 2023: $411,5432023Assets 2024: $538,041Liabilities 2024: $109,501Net Assets 2024: $428,5402024

Highlighted filing

2020

Assets$450,399
Liabilities$90,300
Net Assets$360,099
Open 2020 Filing

Operations Trend

Revenue Growth43rd percentile

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

$1.0M$500K$0-$500KRevenue 2017: $833,127Expenses 2017: $797,684Net Income 2017: $35,4432017Revenue 2018: $771,595Expenses 2018: $789,558Net Income 2018: -$17,9632018Revenue 2019: $558,969Expenses 2019: $644,682Net Income 2019: -$85,7132019Revenue 2020: $526,801Expenses 2020: $469,063Net Income 2020: $57,7382020Revenue 2021: $465,058Expenses 2021: $412,705Net Income 2021: $52,3532021Revenue 2022: $415,751Expenses 2022: $449,651Net Income 2022: -$33,9002022Revenue 2023: $460,802Expenses 2023: $427,811Net Income 2023: $32,9912023Revenue 2024: $484,789Expenses 2024: $467,792Net Income 2024: $16,9972024

Highlighted filing

2020

Revenue$526,801
Expenses$469,063
Net Income$57,738
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 24, 2021
Return Version
2020v4.0
Gross Receipts
$535,533
Mission and Program Overview

Mission

Martial arts and self defense instructions

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$202,494$255,118▲ $52,624
Cash and Non-Interest-Bearing Accounts$45,893$127,827▲ $81,934
Land, Buildings, and Equipment, Net$60,784$49,971▼ $10,813
Prepaid Expenses and Deferred Charges$18,566$17,483▼ $1,083
Total Assets$327,737$450,399▲ $122,662
Liabilities
Other Liabilities$501$67,500▲ $66,999
Accounts Payable and Accrued Expenses$24,875$22,800▼ $2,075
Total Liabilities$25,376$90,300▲ $64,924
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$302,361$360,099▲ $57,738
Total Net Assets Fund Balance$302,361$360,099▲ $57,738
Total Liabilities and Net Assets / Fund Balance$327,737$450,399▲ $122,662

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$39,023$79,736$118,759
Other Land Buildings$9,194$26,496$35,690
Equipment$1,754$17,019$18,773
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ryan LibelExecutive DiFT$58,262$58,262

Board Members and Trustees

NameTitle
Deirdra BaumstarkDirector
Heather PolewskiDirector
Lisa May SimpsonDirector
Mark HubertDirector
Marla CohenDirector
Rick TobozDirector
Todd ScalesSecretary
Edward FlamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$119,854
Program Service Revenue
$296,047
Investment Income
$171
Other Revenue
$110,729
All Other Contributions
$99,854
Change in Net Assets
$57,738

Audited Revenue Reconciliation

Revenue per Audited Statements
$526,801
Total Revenue per Audited Statements
$526,801
Total Revenue per Form 990
$526,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$289,835
Other Expenses$179,228
Total Fundraising Expense$23,458
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$174,550$13,337$3,756$191,643
Occupancy$88,181$10,375$5,188$103,744
Current Officers, Directors, Trustees, and Key Employees$37,871$11,653$8,740$58,264
Payroll Taxes$17,246$2,029$1,014$20,289
Other Employee Benefits$16,694$1,963$982$19,639
Depreciation Depletion$9,191$1,081$541$10,813
Insurance$8,710$1,024$512$10,246
Fees for Services Accounting$7,907$931$466$9,304
All Other Expenses$7,600$892$448$8,940
Other Expenses$3,936$463$232$4,631
Office Expenses$3,375$398$199$3,972
Total Functional Expenses$398,700$46,905$23,458$469,063

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$469,063
Total Expenses per Audited Statements$469,063
Total Expenses per Form 990$469,063
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$113,717
Fundraising Direct Expenses$1,825
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spirit Challeng$113,717$113,717$1,825$111,892
Total Events$113,717$113,717$1,825$111,892
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Advance Forgivable$67,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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 form 990 is reviewed at a board meeting”

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

“Each board member reads & signs the conflict of interest document annually.”

Form 990, Page 6, Part VI, Line 15A

“Compensation is reviewed by the board of directors and is approved as part of the budget process.”

Form 990, Page 6, Part VI, Line 15B

“Compensation is reviewed by the board of directors and is approved as part of the budget process”

Form 990, Page 6, Part VI, Line 19

“All governing documents and tax returns are available upon request. Financial statements are provided at the annual membership meeting and are publicly posted at the center.”

Filing and Contact Details

Filer

Filer Name
Thousand Waves Foundation Nfp
EIN
36-4471839
Phone
7734727663
Address
1220 W BELMONT AVENUE, CHICAGO, IL 60657-3207

Signing Officer

Name
Ryan Libel
Title
Executive Director
Phone
7734727663
Signed
2021-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ryan Libel
Voting Board Members
8
Independent Board Members
8
Employees
14
Volunteers
80

Preparer

Firm
Kopczyk Osher & Scott CPA Services
Address
4415 HARRISON ST STE 552, HILLSIDE, IL 60162-1911
Preparer
Rodney C Scott
Phone
3125270111
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Cost of merchandise sales netted 0 against revenue 0 cost of merchandise sales netted 0 against revenue 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“Thousand waves foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. Thousand waves foundation has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). There was no unrelated business income nor unrecognized tax benefits for the year ended december 31, 2020. Each of the organization's prior three years remains subject to examination by the internal revenue service. The organization has evaluated its tax positions for all open tax years. Based on the evaluation of the organization 's tax positions, management believes all tax positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended december 31, 2020.”

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

“Cost of merchandise sales netted 0 against revenue 0”

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

“Cost of merchandise sales netted 0 against revenue 0”

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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt05744
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03641030
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt017019
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt039023
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt079736
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0118759
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09194
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt026496
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt067500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP ADVANCE FORGIVABLE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THOUSAND WAVES FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THOUSAND WAVES FOUNDATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME NOR UNRECOGNIZED TAX BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2020. EACH OF THE ORGANIZATION'S PRIOR THREE YEARS REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. BASED ON THE EVALUATION OF THE ORGANIZATION 'S TAX POSITIONS, MANAGEMENT BELIEVES ALL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED DECEMBER 31, 2020.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF MERCHANDISE SALES NETTED 0 AGAINST REVENUE 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2COST OF MERCHANDISE SALES NETTED 0 AGAINST REVENUE 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SPIRIT CHALLENG
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER READS & SIGNS THE CONFLICT OF INTEREST DOCUMENT ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS REVIEWED BY THE BOARD OF DIRECTORS AND IS APPROVED AS PART OF THE BUDGET PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS REVIEWED BY THE BOARD OF DIRECTORS AND IS APPROVED AS PART OF THE BUDGET PROCESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING DOCUMENTS AND TAX RETURNS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE PROVIDED AT THE ANNUAL MEMBERSHIP MEETING AND ARE PUBLICLY POSTED AT THE CENTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COST OF MERCHANDISE SALES NETTED 0 AGAINST REVENUE 0 COST OF MERCHANDISE SALES NETTED 0 AGAINST REVENUE 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$450,399
Liabilities
$90,300
Net assets
$360,099
Revenue
$526,801
Expenses
$469,063
Net income
$57,738
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.38$1.10$4.29$4.85$4.68$0.17
2023Detailed filing. Detailed filing data is available for this year.$6.20$2.08$4.12$4.61$4.28$0.33
2022Detailed filing. Detailed filing data is available for this year.$4.02$0.24$3.79$4.16$4.50$0.34
2021Detailed filing. Detailed filing data is available for this year.$4.35$0.23$4.12$4.65$4.13$0.52
2020Detailed filing. Detailed filing data is available for this year.$4.50$0.90$3.60$5.27$4.69$0.58
2019Detailed filing. Detailed filing data is available for this year.$3.28$0.25$3.02$5.59$6.45$0.86
2018Detailed filing. Detailed filing data is available for this year.$4.10$0.22$3.88$7.72$7.90$0.18
2017Detailed filing. Detailed filing data is available for this year.$4.39$0.32$4.06$8.33$7.98$0.35