Civic Intelligence

Wave Aquatics

990 • Fiscal year 2022 • EIN 91-1386855

Sep 01, 2021 to Aug 31, 2022 • Filed on Jul 03, 2023

Organization ProfileWWW.WAVEAQUATICS.ORG
PO Box 2953Kirkland, WA 98083

(206) 550-2833

Siviq Scores

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

Liabilities / Assets

65th percentile

0.16x

Higher debt load relative to assets than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

38th percentile

0.04x

Higher debt load relative to revenue than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

44th percentile

3.8%

Higher net margin than 44% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$110,367

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

73rd percentile

16%

Faster asset growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

20%

Faster revenue growth than 66% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$728,556

Up $98,103 (+16%) from 2021

Net Assets

Up

$610,759

Up $114,127 (+23%) from 2021

Liabilities

Down

$117,797

Down $16,024 (-12%) from 2021

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin44th percentile

Revenue

Up

$3,003,058

Up $501,253 (+20%) from 2021

Expenses

Up

$2,888,931

Up $507,638 (+21%) from 2021

Net Income

Down

$114,127

Down $6,385 (-5.3%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$1.5M$1.0M$500K$0Assets 2011: $122,746Liabilities 2011: $86,057Net Assets 2011: $36,6892011Assets 2012: $184,801Liabilities 2012: $115,334Net Assets 2012: $69,4672012Assets 2013: $393,987Liabilities 2013: $170,374Net Assets 2013: $223,6132013Assets 2014: $468,082Liabilities 2014: $144,561Net Assets 2014: $323,5212014Assets 2015: $519,541Liabilities 2015: $160,693Net Assets 2015: $358,8482015Assets 2016: $566,742Liabilities 2016: $173,579Net Assets 2016: $393,1632016Assets 2017: $660,009Liabilities 2017: $189,329Net Assets 2017: $470,6802017Assets 2018: $854,424Liabilities 2018: $187,954Net Assets 2018: $666,4702018Assets 2019: $938,895Liabilities 2019: $134,274Net Assets 2019: $804,6212019Assets 2020: $725,593Liabilities 2020: $349,473Net Assets 2020: $376,1202020Assets 2021: $630,453Liabilities 2021: $133,821Net Assets 2021: $496,6322021Assets 2022: $728,556Liabilities 2022: $117,797Net Assets 2022: $610,7592022Assets 2023: $842,584Liabilities 2023: $251,067Net Assets 2023: $591,5172023Assets 2024: $1,058,190Liabilities 2024: $209,732Net Assets 2024: $848,4582024

Highlighted filing

2022

Assets$728,556
Liabilities$117,797
Net Assets$610,759
Open 2022 Filing

Operations Trend

Revenue Growth66th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $948,312Expenses 2011: $1,026,513Net Income 2011: -$78,2012011Expenses 2012: $1,224,4772012Revenue 2013: $1,628,607Expenses 2013: $1,474,461Net Income 2013: $154,1462013Revenue 2014: $1,620,096Expenses 2014: $1,520,188Net Income 2014: $99,9082014Revenue 2015: $1,788,327Expenses 2015: $1,753,000Net Income 2015: $35,3272015Revenue 2016: $1,856,248Expenses 2016: $1,821,933Net Income 2016: $34,3152016Revenue 2017: $2,187,197Expenses 2017: $2,109,680Net Income 2017: $77,5172017Revenue 2018: $2,684,028Expenses 2018: $2,488,238Net Income 2018: $195,7902018Revenue 2019: $2,553,061Expenses 2019: $2,414,910Net Income 2019: $138,1512019Revenue 2020: $1,501,870Expenses 2020: $1,930,371Net Income 2020: -$428,5012020Revenue 2021: $2,501,805Expenses 2021: $2,381,293Net Income 2021: $120,5122021Revenue 2022: $3,003,058Expenses 2022: $2,888,931Net Income 2022: $114,1272022Revenue 2023: $3,426,931Expenses 2023: $3,446,173Net Income 2023: -$19,2422023Revenue 2024: $4,104,785Expenses 2024: $3,847,844Net Income 2024: $256,9412024

Highlighted filing

2022

Revenue$3,003,058
Expenses$2,888,931
Net Income$114,127
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Jul 3, 2023
Return Version
2021v4.1
Gross Receipts
$3,003,058
Mission and Program Overview

Mission

Promote and teach water activities for health and recreation. Provide the opportunity for developing competitive swimming skills at all levels.

Wave provides a range of public aquatics programs and facilities management services in order to enhance health, fitness, safety, recreation, and quality of life for our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$410,081$437,114▲ $27,033
Land, Buildings, and Equipment, Net$160,486$231,942▲ $71,456
Prepaid Expenses and Deferred Charges$27,269$48,065▲ $20,796
Accounts Receivable$31,666$11,435▼ $20,231
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$630,453$728,556▲ $98,103
Other Assets Total$951$0▼ $951
Liabilities
Deferred Revenue$12,360$61,087▲ $48,727
Accounts Payable and Accrued Expenses$121,461$56,710▼ $64,751
Total Liabilities$133,821$117,797▼ $16,024
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$496,632$610,759▲ $114,127
Total Net Assets Fund Balance$496,632$610,759▲ $114,127
Total Liabilities and Net Assets / Fund Balance$630,453$728,556▲ $98,103

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$144,251$194,872$339,123
Leasehold Improvements$87,500$12,500$100,000
Other Land Buildings$191$3,153$3,344
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chad WinkleExecutive DirectorFT$103,133$7,234$110,367

Board Members and Trustees

NameTitle
Kfir Ami-adPresident
Jackie HizzeyBoard Member
Cari BrumfieldSecretary
Julie SoedelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$64,757
Program Service Revenue
$2,938,215
Investment Income
$86
Other Revenue
$0
All Other Contributions
$64,757
Change in Net Assets
$114,127
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,734,058
Other Expenses$1,154,873
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,445,601--$1,445,601
Occupancy$465,616--$465,616
Payroll Taxes$130,425$33,050-$163,475
Current Officers, Directors, Trustees, and Key Employees-$110,368-$110,368
All Other Expenses$84,867--$84,867
Other Expenses$78,001--$78,001
Office Expenses$33,698$32,310-$66,008
Depreciation Depletion-$32,536-$32,536
Insurance$27,676$2,232-$29,908
Travel$18,215--$18,215
Fees for Services Accounting-$14,721-$14,721
Other Employee Benefits$14,614--$14,614
Total Functional Expenses$2,663,714$225,217$0$2,888,931
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
Yes
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
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Announcement to directors that tax return is available for inspection at first meeting after received from tax preparer.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Determination of compensation for individuals in capacity of ceo, executive director, or management official = online research and wave's human resources provider are utilized to determine competitive rates in an acceptable range. Board discusses and approves by vote.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“UPON REQUEST”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Wave Aquatics
EIN
91-1386855
Phone
2065502833
Address
PO BOX 2953, KIRKLAND, WA 98083

Signing Officer

Name
Julie Soedel
Title
Treasurer
Signed
2023-07-03
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
Wa
Voting Board Members
5
Independent Board Members
5
Employees
147
Volunteers
220

Preparer

Firm
Jeffie H Pike CPA
Address
1295 Bad Route Rd, Terry, MT 59349
Preparer
Jeffie H Pike CPA
Phone
3609200914
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“Review oversite - wave aquatics has a treasurer and management that oversees the review function. They select an independent third-party reviewer, and provide the reveiwer with the necessary financial and backup information during field work. They review and sign off on the reviewer's financial statements and reports.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Organization is subject to taxation on unrelated business income.Management evaluated the Organization's tax positions and concluded that the Organization had taken no uncertain tax positions that require adjustment to the financial statements.”

Raw XML AppendixShowing 400 of 444 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/ProgramServiceRevenueGrp/Desc0POOL OPERATIONS
IRS990/ProgramServiceRevenueGrp/Desc1PRACTICE FEES AND REGIST
IRS990/ProgramServiceRevenueGrp/Desc2SWIM MEETS
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE OPPORTUNITY FOR YOUTH TO DEVELOP COMPETITIVE SWIMMING SKILLS THROUGH SUPERVISED WORKOUT PROGRAMS AND SWIM MEETS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Organization is subject to taxation on unrelated business income.Management evaluated the Organization's tax positions and concluded that the Organization had taken no uncertain tax positions that require adjustment to the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANNOUNCEMENT TO DIRECTORS THAT TAX RETURN IS AVAILABLE FOR INSPECTION AT FIRST MEETING AFTER RECEIVED FROM TAX PREPARER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DETERMINATION OF COMPENSATION FOR INDIVIDUALS IN CAPACITY OF CEO, EXECUTIVE DIRECTOR, OR MANAGEMENT OFFICIAL = ONLINE RESEARCH AND WAVE'S HUMAN RESOURCES PROVIDER ARE UTILIZED TO DETERMINE COMPETITIVE RATES IN AN ACCEPTABLE RANGE. BOARD DISCUSSES AND APPROVES BY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEW OVERSITE - WAVE AQUATICS HAS A TREASURER AND MANAGEMENT THAT OVERSEES THE REVIEW FUNCTION. THEY SELECT AN INDEPENDENT THIRD-PARTY REVIEWER, AND PROVIDE THE REVEIWER WITH THE NECESSARY FINANCIAL AND BACKUP INFORMATION DURING FIELD WORK. THEY REVIEW AND SIGN OFF ON THE REVIEWER'S FINANCIAL STATEMENTS AND REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2: Change of Oversight or Selection Process
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$728,556
Liabilities
$117,797
Net assets
$610,759
Revenue
$3,003,058
Expenses
$2,888,931
Net income
$114,127
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.21$0.85$4.10$3.85$0.26
2023Summary only. Only limited summary data is available for this year.$0.84$0.25$0.59$3.43$3.45$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.73$0.12$0.61$3.00$2.89$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.13$0.50$2.50$2.38$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$0.35$0.38$1.50$1.93$0.43
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.13$0.80$2.55$2.41$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.19$0.67$2.68$2.49$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.19$0.47$2.19$2.11$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.57$0.17$0.39$1.86$1.82$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.52$0.16$0.36$1.79$1.75$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.47$0.14$0.32$1.62$1.52$0.10
2013Summary only. Only limited summary data is available for this year.$0.39$0.17$0.22$1.63$1.47$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.12$0.07$1.22
2011Summary only. Only limited summary data is available for this year.$0.12$0.09$0.04$0.95$1.03$0.08