Civic Intelligence

Wave Foundation

990 • Fiscal year 2021 • EIN 84-3224211

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 09, 2022

Organization ProfileWWW.THEWAVENW.ORG
13015 NE Morris CTPortland, OR 97230

(503) 307-1630

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

4th percentile

-67%

Higher net margin than 4% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

47th percentile

$48,000

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

1st percentile

-78%

Faster asset growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

7th percentile

-41%

Faster revenue growth than 7% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$200,487

Down $714,929 (-78%) from 2020

Net Assets

Down

$200,487

Down $714,929 (-78%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin4th percentile

Revenue

Down

$1,071,113

Down $735,541 (-41%) from 2020

Expenses

Up

$1,786,042

Up $894,804 (+100%) from 2020

Net Income

Down

-$714,929

Down $1,630,345 (-178%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.0M$500K$0Assets 2020: $915,416Liabilities 2020: $0Net Assets 2020: $915,4162020Assets 2021: $200,487Liabilities 2021: $0Net Assets 2021: $200,4872021Assets 2022: $197,390Liabilities 2022: $0Net Assets 2022: $197,3902022

Highlighted filing

2021

Assets$200,487
Liabilities$0
Net Assets$200,487
Open 2021 Filing

Operations Trend

Revenue Growth7th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2020: $1,806,654Expenses 2020: $891,238Net Income 2020: $915,4162020Revenue 2021: $1,071,113Expenses 2021: $1,786,042Net Income 2021: -$714,9292021Revenue 2022: $691,815Expenses 2022: $694,912Net Income 2022: -$3,0972022

Highlighted filing

2021

Revenue$1,071,113
Expenses$1,786,042
Net Income-$714,929
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 9, 2022
Return Version
2021v4.2
Gross Receipts
$1,071,113
Mission and Program Overview

Mission

The wave foundation strengthens community health, local economies, and environmental sustainability. Our work touches an array of interrelated sectors: food, energy, transportation, zero waste, and clean air and water.

The wave foundation strengthens community health, local economies, and environmental sustainability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$915,416$200,487▼ $714,929
Total Assets$915,416$200,487▼ $714,929
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$915,416$200,487▼ $714,929
Total Net Assets Fund Balance$915,416$200,487▼ $714,929
Total Liabilities and Net Assets / Fund Balance$915,416$200,487▼ $714,929
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kelley MartinDirectorPT$48,000$48,000

Board Members and Trustees

NameTitle
Justin ZeulnerPresident
Keri JohnsSecretary
Carmen DouglassTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Pioneers Of SustainabilityManagement Services2000 NE 67TH AVE, Portland, OR 97213$259,200
Revenue and Support

Revenue Composition

Contributions and Grants
$1,070,965
Program Service Revenue
$0
Investment Income
$148
Other Revenue
$0
All Other Contributions
$493,981
Change in Net Assets
$-714,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,427,756
Other Expenses$310,286
Salaries, Compensation, and Employee Benefits$48,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,427,756--$1,427,756
Fees for Services Management$253,340$15,860-$269,200
Current Officers, Directors, Trustees, and Key Employees$48,000--$48,000
Fees for Services Legal-$18,569-$18,569
Travel$8,638--$8,638
Conferences and Meetings-$6,572-$6,572
Insurance-$3,286-$3,286
Office Expenses-$2,765-$2,765
All Other Expenses-$1,256-$1,256
Total Functional Expenses$1,737,734$48,308$0$1,786,042
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Controlled EntityManagement Services.No$259,200
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 35% controlled entity
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The wave foundation has an agreement with pioneers of sustainability, llc (the llc) to perform program and general administrative services. The llc is owned by justin zeulner (president of the wave foundation). However, the agreement was signed by the wave foundation's treasurer and approved by the other board members.”

Form 990, Part VI, Section B, Line 11B

“The 990 is reviewed and approved by the president. A copy is provided to the board prior to filing.”

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

“Board members are required to disclose any possible conflicts as they arise.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
The Wave Foundation
EIN
84-3224211
Phone
5033071630
Address
13015 NE MORRIS CT, PORTLAND, OR 97230

Signing Officer

Name
Justin Zeulner
Title
President
Phone
5033071630
Signed
2022-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin Zeulner
Formed
2020
Legal Domicile
Or
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
30

Preparer

Firm
Hoffman Stewart & Schmidt Pc
Address
3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-8663
Preparer
Nathan Stamets
Phone
5032205900
Raw XML Appendix332 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/GoverningBodyVotingMembersCnt03
IRS990/GovernmentGrantsAmt0576984
IRS990/GrantAmt01427756
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt01427756
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IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/MissionDesc0THE WAVE FOUNDATION STRENGTHENS COMMUNITY HEALTH, LOCAL ECONOMIES, AND ENVIRONMENTAL SUSTAINABILITY. OUR WORK TOUCHES AN ARRAY OF INTERRELATED SECTORS: FOOD, ENERGY, TRANSPORTATION, ZERO WASTE, AND CLEAN AIR AND WATER.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/PrincipalOfficerNm0JUSTIN ZEULNER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0ZERO WASTE: FURTHER DEVELOPED A STRATEGIC COLLABORATION IN PORTLAND, OREGON TO ADVANCE A "ZERO-WASTE VISION" FOR PROVIDENCE PARK, THE MODA CENTER, AND OTHER PORTLAND LARGE PUBLIC VENUES. THIS PROGRAM IS KEY IN MITIGATING FOOD WASTE AND FINDING SUCCESSFUL COMPOSTING OPERATIONS AND INFRASTRUCTURE IN THE NORTHWEST.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt086887
IRS990/ProgSrvcAccomActy3Grp/Desc0CLEAN ENERGY AND TRANSPORTATION: IN PARTNERSHIP WITH CLIMATE SOLUTIONS, CLEAN AND PROSPEROUS WA, BUILD BACK BLACK ALLIANCE, AND OREGON BUSINESSES FOR CLIMATE DEVELOPED A PROGRAM THAT WILL SUPPORT THE TRANSITION TO REGIONAL BUILDINGS AND TRANSPORTATION INFRASTRUCTURE TO 100% ELECTRIFICATION.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt069509
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ENVIRONMENTAL EQUITY AND JUSTICE: WORKED CLOSELY WITH AND DEVELOPMENT AUTHENTIC RELATIONSHIPS WITH TRIBAL AND NATIVE COMMUNITIES WITHINTENT TO LEVERAGE THE WAVE NETWORK TO AUTHENTICALLY ADVANCE EQUITY AND JUSTICE GOALS RELATED TO THE PRIMARY PROGRAMS OF THE WAVE.YOUTH ENGAGEMENT: EXPANDED ON PARTNERSHIP WITH EVERY KID SPORTS TO HELP NATIVE YOUTH PARTICIPATE IN THEIR PROGRAM WHICH PROVIDESUNDERSERVED FAMILIES WITH CERTIFICATES TO PAY FOR THE COSTS OF PLAYING SPORTS. DEVELOPED PROGRAM WITH MUSCO TO SUPPORT BUILDING SPORTS COURTS IN NATIVE COMMUNITIES FOR YOUTH TO HAVE ACCESS TO SPORTS AND HEALTHIER LIFESTYLES.
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FOOD AND TRIBAL NATION COMMUNITY RELIEF
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt01427756
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0FOOD
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE WAVE FOUNDATION MONITORS ITS FOOD PROGRAM CLOSELY TO ENSURE HEALTHY AND SUSTAINABLE FOOD GETS TO PEOPLE WHO NEED IT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0CONTROLLED ENTITY
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0259200
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT SERVICES.
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THE WAVE FOUNDATION HAS AN AGREEMENT WITH PIONEERS OF SUSTAINABILITY, LLC (THE LLC) TO PERFORM PROGRAM AND GENERAL ADMINISTRATIVE SERVICES. THE LLC IS OWNED BY JUSTIN ZEULNER (PRESIDENT OF THE WAVE FOUNDATION). HOWEVER, THE AGREEMENT WAS SIGNED BY THE WAVE FOUNDATION'S TREASURER AND APPROVED BY THE OTHER BOARD MEMBERS.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WAVE FOUNDATION HAS AN AGREEMENT WITH PIONEERS OF SUSTAINABILITY, LLC (THE LLC) TO PERFORM PROGRAM AND GENERAL ADMINISTRATIVE SERVICES. THE LLC IS OWNED BY JUSTIN ZEULNER (PRESIDENT OF THE WAVE FOUNDATION). HOWEVER, THE AGREEMENT WAS SIGNED BY THE WAVE FOUNDATION'S TREASURER AND APPROVED BY THE OTHER BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED AND APPROVED BY THE PRESIDENT. A COPY IS PROVIDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01737734
IRS990/TotalFunctionalExpensesGrp/TotalAmt01786042
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0915416
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0200487
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt017377
IRS990/TotalProgramServiceExpensesAmt01737734
IRS990/TotalReportableCompFromOrgAmt048000
IRS990/TotalRevenueGrp/ExclusionAmt0148
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01071113
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0915416
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0200487
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08638
IRS990/TravelGrp/TotalAmt08638
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt013015 NE MORRIS CT
IRS990/USAddress/CityNm0PORTLAND
IRS990/USAddress/StateAbbreviationCd0OR
IRS990/USAddress/ZIPCd097230
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.THEWAVENW.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JUSTIN ZEULNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05033071630
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE WAVE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WAVE
ReturnHeader/Filer/EIN0843224211
ReturnHeader/Filer/PhoneNum05033071630
ReturnHeader/Filer/USAddress/AddressLine1Txt013015 NE MORRIS CT
ReturnHeader/Filer/USAddress/CityNm0PORTLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OR
ReturnHeader/Filer/USAddress/ZIPCd097230
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0930743240
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOFFMAN STEWART & SCHMIDT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 CENTERPOINTE DRIVE SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKE OSWEGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0970358663
ReturnHeader/PreparerPersonGrp/PhoneNum05032205900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NATHAN STAMETS
ReturnHeader/ReturnTs02022-11-10T18:16:06-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JUSTIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ZEULNER
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$200,487
Liabilities
$0
Net assets
$200,487
Revenue
$1,071,113
Expenses
$1,786,042
Net income
-$714,929
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.00$0.20$0.69$0.69$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$1.07$1.79$0.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.00$0.92$1.81$0.89$0.92