Civic Intelligence

Save the Waves Coalition

990 • Fiscal year 2023 • EIN 36-4515216

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 22, 2024

849 Almar Ave Suite C 163Santa Cruz, CA 95060

(831) 426-6169

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

33rd percentile

0.02x

Higher debt load relative to revenue than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

89th percentile

45%

Higher net margin than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$149,827

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

97th percentile

209%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

118%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,690,580

Up $1,143,543 (+209%) from 2022

Net Assets

Up

$1,627,274

Up $1,126,751 (+225%) from 2022

Liabilities

Up

$63,306

Up $16,792 (+36%) from 2022

Revenue

Up

$2,569,172

Up $1,392,015 (+118%) from 2022

Expenses

Up

$1,402,356

Up $289,400 (+26%) from 2022

Net Income

Up

$1,166,816

Up $1,102,615 (+1717%) from 2022

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $45,077Liabilities 2010: $59,651Net Assets 2010: -$14,5742010Assets 2011: $53,842Liabilities 2011: $41,985Net Assets 2011: $11,8572011Assets 2012: $77,966Liabilities 2012: $44,191Net Assets 2012: $33,7752012Assets 2013: $60,095Liabilities 2013: $24,635Net Assets 2013: $35,4602013Assets 2014: $86,049Liabilities 2014: $25,970Net Assets 2014: $60,0792014Assets 2015: $379,914Liabilities 2015: $24,480Net Assets 2015: $355,4342015Assets 2016: $458,145Liabilities 2016: $26,010Net Assets 2016: $432,1352016Assets 2017: $288,038Liabilities 2017: $174,594Net Assets 2017: $113,4442017Assets 2018: $146,265Liabilities 2018: $28,587Net Assets 2018: $117,6782018Assets 2019: $339,383Liabilities 2019: $77,035Net Assets 2019: $262,3482019Assets 2020: $452,414Liabilities 2020: $48,955Net Assets 2020: $403,4592020Assets 2021: $498,551Liabilities 2021: $62,229Net Assets 2021: $436,3222021Assets 2022: $547,037Liabilities 2022: $46,514Net Assets 2022: $500,5232022Assets 2023: $1,690,580Liabilities 2023: $63,306Net Assets 2023: $1,627,2742023Assets 2024: $1,383,856Liabilities 2024: $174,401Net Assets 2024: $1,209,4552024

Highlighted filing

2023

Assets$1,690,580
Liabilities$63,306
Net Assets$1,627,274

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $405,5302010Expenses 2011: $226,7392011Expenses 2012: $254,4462012Revenue 2013: $259,467Expenses 2013: $257,782Net Income 2013: $1,6852013Revenue 2014: $330,176Expenses 2014: $305,557Net Income 2014: $24,6192014Revenue 2015: $633,082Expenses 2015: $337,727Net Income 2015: $295,3552015Revenue 2016: $528,995Expenses 2016: $452,294Net Income 2016: $76,7012016Revenue 2017: $466,593Expenses 2017: $465,658Net Income 2017: $9352017Revenue 2018: $571,735Expenses 2018: $567,501Net Income 2018: $4,2342018Revenue 2019: $777,935Expenses 2019: $773,158Net Income 2019: $4,7772019Revenue 2020: $1,086,875Expenses 2020: $945,764Net Income 2020: $141,1112020Revenue 2021: $1,218,711Expenses 2021: $1,185,848Net Income 2021: $32,8632021Revenue 2022: $1,177,157Expenses 2022: $1,112,956Net Income 2022: $64,2012022Revenue 2023: $2,569,172Expenses 2023: $1,402,356Net Income 2023: $1,166,8162023Revenue 2024: $1,078,963Expenses 2024: $1,527,181Net Income 2024: -$448,2182024

Highlighted filing

2023

Revenue$2,569,172
Expenses$1,402,356
Net Income$1,166,816
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 22, 2024
Return Version
2023v5.1
Gross Receipts
$2,584,083
Mission and Program Overview

Mission

Save the Waves protects surf ecosystems around the world, forming coalitions with local communities and utilizing a unique combination of protected areas, stewardship, and grass-roots mobilization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$188,069$1,371,073▲ $1,183,004
Savings and Temporary Cash Investments$319,743$286,183▼ $33,560
Inventories for Sale or Use$22,748$16,182▼ $6,566
Prepaid Expenses and Deferred Charges$13,977$14,642▲ $665
Cash and Non-Interest-Bearing Accounts-$0-
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-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Total Assets$547,037$1,690,580▲ $1,143,543
Other Assets Total$2,500$2,500→ $0
Liabilities
Other Liabilities$27,838$36,214▲ $8,376
Accounts Payable and Accrued Expenses$18,176$27,092▲ $8,916
Grants Payable$500--
Total Liabilities$46,514$63,306▲ $16,792
Net Assets / Fund Balance
Net Assets With Donor Restrictions$347,051$1,539,177▲ $1,192,126
Net Assets Without Donor Restrictions$153,472$88,097▼ $65,375
Total Net Assets Fund Balance$500,523$1,627,274▲ $1,126,751
Total Liabilities and Net Assets / Fund Balance$547,037$1,690,580▲ $1,143,543
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nik Strong-CvetichCEOFT$124,937$24,890$149,827
Susan CoffeyFinance ManagerPT$65,345$34,399$99,744

Board Members and Trustees

NameTitle
Rachel StraderCo-Chairperson
Scott K AtkinsonCo-Chairperson
Al RamadanBoard Member
Annie VranizanBoard Member
Easkey BrittonBoard Member
Greg JonesBoard Member
Hugo TagholmBoard Member
Laura RodriguezBoard Member
Rahim WalkerBoard Member
Will HenryBoard Member
Eric CoSecretary
Christy ChinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,573,220
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-4,048
All Other Contributions
$2,464,485
Change in Net Assets
$1,166,816

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Clothing and Household Goods-$35,594Fair Market Value (FMV)
Other Non Cash Contri Table8$12,310Fair Market Value (FMV)
Other Non Cash Contri Table1$4,792Fair Market Value (FMV)
Other Non Cash Contri Table1$3,000Fair Market Value (FMV)
Other Non Cash Contri Table1$350Fair Market Value (FMV)
Total Noncash Contributions11$56,046-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,569,172
Revenue Not Reported on Form 990
$-25,105
Total Revenue per Audited Statements
$2,544,067
Total Revenue per Form 990
$2,569,172
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$907,896
Other Expenses$445,265
Total Fundraising Expense$103,247
Grants and Similar Amounts Paid$49,195
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$317,706$150,607$35,604$503,917
Current Officers, Directors, Trustees, and Key Employees$121,802$55,397$13,083$190,282
Fees for Services Other$132,624$4,683$18,600$155,907
Other Employee Benefits$88,547$37,749$7,319$133,615
Travel$88,361$8,506$14,299$111,166
Payroll Taxes$44,013$16,653$3,625$64,291
Foreign Grants$49,195--$49,195
Occupancy$13,947$5,880$1,148$20,975
Pension Plan Contributions$10,002$4,683$1,106$15,791
Information Technology$3,959$10,713$15$14,687
Insurance$5,071$1,695$331$7,097
Office Expenses$384$2,869$39$3,292
Fees for Services Accounting-$3,088-$3,088
All Other Expenses$1,540$157$1,187$2,884
Other Expenses$1,564$200$2,465$1,764
Conferences and Meetings$246--$246
Total Functional Expenses$995,802$303,307$103,247$1,402,356

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,417,266
Expenses per Audited Statements$1,402,356
Total Expenses per Form 990$1,402,356
Expenses Not Reported on Form 990$14,910
International Activity

International Summary

Employees
11
Spending
$166,387

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central AmericaProgram servicesProgrammatic Ind Contractor01$69,447
South AmericaGrants to recipientsProgrammatic Ind. Contractors03$36,225
South AmericaProgram servicesProgrammtic Employee01$20,000
EuropeGrants to recipientsProgrammatic Ind. Contractors01$12,800
Central AmericaProgram Services-01$11,000
North AmericaProgram services-01$10,000
EuropeProgram servicesProgrammatic Ind. Contractors02$6,745
Central AmericaGrants to recipients-01$170
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll liability$36,214
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, Part VI, Section B, Line 11B

Form 990 is prepared by an outside tax professional. The form is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Members of the Board of Directors review all potential conflicts of interest periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.

Form 990, Part VI, Section B, Line 15A

Members of the board of directors review the compensation of all high-level personnel periodically in accordance with IRS rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with IRS guidelines and the organization's policies and procedures.

Form 990, Part VI, Section B, Line 15B

Compensation of other personnel and highly compensated employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.

Form 990, Part VI, Section C, Line 18

Tax returns are available for download from several websites and by request from the organization's office in Santa Cruz, California.

Form 990, Part VI, Section C, Line 19

All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.

Filing and Contact Details

Filer

Filer Name
Save the Waves Coalition
EIN
36-4515216
Phone
8314266169
Address
849 Almar Ave Suite C 163, Santa Cruz, CA 95060

Signing Officer

Name
Nik Strong-Cvetich
Title
CEO
Phone
8314266169
Signed
2024-07-22
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
8
Volunteers
7

Preparer

Firm
Regalia & Associates Cpas
Address
103 TOWN COUNTRY DR STE K, DANVILLE, CA 94526
Preparer
Douglas W Regalia
Phone
9253140390
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Stewardship and Resilience:Through our stewardship and resilience initiatives, we created new partnerships through our Save The Waves App: 5 new outreach partnerships, 2 new data sharing and response partnerships, and 3 new World Surfing Reserve monitoring partnerships. We created real-time alerts and an automated spreadsheet of all reports within WSRs boundaries or within areas of work with partner organizations, which included outreach campaigns and training sessions to engage local communities with the tool and maximize the impact. Additionally, Save The Waves laid the groundwork for a new model of parametric insurance in Las Flores, El Salvador that safeguards surf breaks, mangroves, and livelihoods of nearby communities from the impacts of extreme weather events due to climate change.

Form 990, Part XI, Line 9

Change in unamortized discount = -$40015

Financial Statement Notes

Part X : FIN48 Footnote

Income TaxesFinancial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, Save The Waves is required to report information regarding its exposure to various tax positions taken by Save The Waves and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that Save The Waves has adequately evaluated its current tax positions and has concluded that as of December 31, 2023, Save The Waves does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.Save The Waves has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that Save The Waves continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. Save The Waves may periodically receive unrelated business income (such as program advertising income) requiring Save The Waves to file separate tax returns under federal and state statutes. Under such conditions, Save The Waves calculates and accrues the applicable taxes.

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of goods sold $14910

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IRS990/ProgSrvcAccomActy2Grp/Desc0World Surfing Reserves:In 2023, Save The Waves continued to expand and improve the World Surfing Reserves (WSRs) Program, implementing the following: 1) Dedicated the North Devon World Surfing Reserve in the United Kingdom, safeguarding over 8 diverse surf breaks and 30 kilometers of coastline; 2) Launched the pilot WSR Stewardship Fund to support local projects and solutions at the World Surfing Reserves of Huanchaco, Peru, Guarda do Emba, Brazil, and North Devon, United Kingdom; and 3) Supported the Local Stewardship Council of Ericeira, Portugal World Surfing Reserve in its commitment with the local government and key partners to protect 15 hectares of coastal property for permanent preservation, including bluff restoration around Ribeira dIlhas.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Surf Protected Area NetworksWe continued our work in the creation of Surf Protected Area Networks (SPANs), working to grow our impact in new regions. In 2023, we 1) Completed crucial work and technical tools with our partners in Chile to address needs to scale conservation efforts nationwide; 2) Created a legal framework for Surf Protected Areas with our partners in Peru, Sociedad Peruana de Derecho Ambiental; and 3) Completed the second phase of work in the Azores, Portugal, strengthening local capacity for surf ecosystem protection in addition to finalizing a key tool to inform decision making on sustainable tourism and management.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.38$0.17$1.21$1.08$1.53$0.45
2023Detailed filing. Detailed filing data is available for this year.$1.69$0.06$1.63$2.57$1.40$1.17
2022Detailed filing. Detailed filing data is available for this year.$0.55$0.05$0.50$1.18$1.11$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.50$0.06$0.44$1.22$1.19$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.45$0.05$0.40$1.09$0.95$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.08$0.26$0.78$0.77$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.15$0.03$0.12$0.57$0.57$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.29$0.17$0.11$0.47$0.47$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.46$0.03$0.43$0.53$0.45$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.38$0.02$0.36$0.63$0.34$0.30
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$0.03$0.06$0.33$0.31$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.06$0.02$0.04$0.26$0.26$0.00
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.04$0.03$0.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.04$0.01$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.06$0.01$0.41