Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.25x
Liabilities / Revenue
74th percentile
Higher debt load relative to revenue than 74% of similar nonprofits.
Net Margin
90th percentile
Higher net margin than 90% of similar nonprofits.
Top Officer Pay
90th percentile
Higher top officer pay than 90% of similar nonprofits.
Top officer pay equals 4.7% of source-year revenue.
Asset Growth
99th percentile
Faster asset growth than 99% of similar nonprofits.
Revenue Growth
92nd percentile
Faster revenue growth than 92% of similar nonprofits.
Balance Sheet
Assets
Up$44,595,796
Up $35,008,471 (+365%) from 2020
Net Assets
Up$33,443,044
Up $23,864,232 (+249%) from 2020
Liabilities
Up$11,152,752
Up $11,144,239 (+130908%) from 2020
Revenue And Expenses
Revenue
Up$15,038,830
Up $8,835,773 (+142%) from 2020
Expenses
Down$6,182,117
Down $240,699 (-3.7%) from 2020
Net Income
Up$8,856,713
Up $9,076,472 (+4130%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Aug 1, 2020 to Jul 31, 2021
- Signed
- Jun 8, 2022
- Return Version
- 2020v4.2
- Gross Receipts
- $15,626,571
Mission and Program Overview
Mission
Wave enterprises, inc. Is a supporting organization of pepperdine university.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $6,128,098 | $40,988,591 | ▲ $34,860,493 |
| Cash and Non-Interest-Bearing Accounts | $2,202,819 | $2,104,505 | ▼ $98,314 |
| Other Notes and Loans Receivable, Net | $1,198,105 | $1,174,599 | ▼ $23,506 |
| Investments Other Securities | $54,876 | $173,101 | ▲ $118,225 |
| Investments in Publicly Traded Securities | $3,427 | $0 | ▼ $3,427 |
| Savings and Temporary Cash Investments | $0 | $0 | → $0 |
| Accounts Receivable | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Prepaid Expenses and Deferred Charges | $0 | $0 | → $0 |
| Total Assets | $9,587,325 | $44,595,796 | ▲ $35,008,471 |
| Other Assets Total | $0 | $155,000 | ▲ $155,000 |
| Liabilities | |||
| Other Liabilities | $0 | $7,730,849 | ▲ $7,730,849 |
| Accounts Payable and Accrued Expenses | $0 | $3,297,909 | ▲ $3,297,909 |
| Escrow Account Liability | $0 | $108,144 | ▲ $108,144 |
| Deferred Revenue | $8,513 | $15,850 | ▲ $7,337 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $8,513 | $11,152,752 | ▲ $11,144,239 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $8,728,269 | $33,351,876 | ▲ $24,623,607 |
| Net Assets With Donor Restrictions | $850,543 | $91,168 | ▼ $759,375 |
| Total Net Assets Fund Balance | $9,578,812 | $33,443,044 | ▲ $23,864,232 |
| Total Liabilities and Net Assets / Fund Balance | $9,587,325 | $44,595,796 | ▲ $35,008,471 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $40,988,591 | $508,991 | $763,144 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Charles Pippin | Chairman & President |
| Harold Smethills | Vice Chairman |
| James Gash | Director |
| Daniel Dewalt | Director & VP |
| T Danny Phillips | Director as of 12/2020 |
| Terry Giles | Director as of 12/2020 |
| Andrew Benton | Former Director |
| Greg Ramirez | Chief Financial Officer as of 12/20 |
| Laura Ponder | Controller as of 12/20 |
| Aaron White | General Counsel as of 12/20 |
| Faye Holton | Secretary |
| Jeffrey Rohde | VP as of 12/20 |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| United 1 Protection Services LLC | Security | 107 N ROBIN PRIVADO, Ontario, CA 91764 | $115,506 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $15,464,429
- Program Service Revenue
- $0
- Investment Income
- $96,029
- Other Revenue
- $-521,628
- Change in Net Assets
- $8,856,713
Noncash Contribution Practices
- Property subject to holding requirements
- Yes
- Reviewed unusual noncash gifts
- Yes
- Third parties used for noncash contributions
- Yes
Noncash Contributions
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Other Non Cash Contri Table | 1 | $15,464,429 | Gaap |
| Total Noncash Contributions | 1 | $15,464,429 | - |
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $9,725,084
- Revenue Not Reported on Financial Statements
- $5,313,746
- Revenue Not Reported on Form 990
- $15,595,260
- Other Revenue Adjustments
- $5,313,746
- Total Revenue per Audited Statements
- $25,320,344
- Total Revenue per Form 990
- $15,038,830
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $5,530,175 |
| Grants and Similar Amounts Paid | $651,942 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $651,942 | - | - | $651,942 |
| Fees for Services Other | - | $157,146 | - | $157,146 |
| Interest | - | $54,422 | - | $54,422 |
| Occupancy | - | $41,042 | - | $41,042 |
| Fees for Services Accounting | - | $27,296 | - | $27,296 |
| Office Expenses | - | $5,346 | - | $5,346 |
| Fees for Service Investment Mgmnt Fees | - | $2,000 | - | $2,000 |
| Other Expenses | - | $193 | - | $193 |
| Total Functional Expenses | $651,942 | $5,530,175 | $0 | $6,182,117 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $6,182,117 |
| Expenses Not Reported on Financial Statements | $5,313,746 |
| Other Expense Adjustments | $5,313,746 |
| Total Expenses per Audited Statements | $1,456,112 |
| Expenses per Audited Statements | $868,371 |
| Expenses Not Reported on Form 990 | $587,741 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Pepperdine University | Malibu, CA | 501(c)(3) | Institutional Support | $651,942 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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 Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Liability for Remediation Cost | $4,661,804 |
| Long-term Property Tax Assessment | $3,069,045 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- 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
- Yes
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 4
“Significant changes to governing documents: wave property, inc. (fein: 95-4297104) merged into wave enterprises, inc. On december 28, 2020. The merger was approved via board resolution by both entities.”
Form 990, Part VI, Section A, Line 7A
“Power to appoint board directors: directors shall be nominated by the president of pepperdine university and designated by the chair of the board of regents of pepperdine university. Changes in the directors shall be reported to the executive committee of the board of regents of pepperdine university. Each director shall hold office for a term of three years, or such shorter term as may be specified by the chair of the board of regents of pepperdine university at the time of designation, or until a successor has been designated and qualified.”
Form 990, Part VI, Section A, Line 8B
“Committee with authority to act: the organization had no committees with authority to act on behalf of the governing body.”
Form 990, Part VI, Section B, Line 11B
“Process to review form 990: wave enterprises, inc.'s form 990 is prepared by a paid preparer. Once completed, it is reviewed by an officer of the organization. A full copy of form 990 is then electronically distributed to the entire board prior to filing with the internal revenue service.”
Form 990, Part VI, Section B, Line 12
“Organization policies: wave enterprises, inc. Is a subsidiary of pepperdine university. All officers and directors are either employed by, or are regents of, pepperdine university. Pepperdine university has a written conflict of interest policy, whistleblower policy, and document retention and destruction policy in place, which applies to these individuals.”
Form 990, Part VI, Section B, Line 15
“Process for executive compensation: all officers and compensated directors are compensated by a related organization, pepperdine university. Since the organization did not compensate the individuals described on lines 15a and 15b directly, the response to the noted lines is "no."”
Form 990, Part VI, Section C, Line 19
“Documents available for public inspection: wave enterprises, inc. Is a subsidiary of pepperdine university. The organization does not have separate policies, as it follows pepperdine university's policies. The organization's financial statements were audited as part of the consolidated financial statements of pepperdine university. Pepperdine university's financial statements are available via the university's website. Pepperdine university does not make its conflict of interest policy and governing documents available to the public.”
Filing and Contact Details
Filer
- Filer Name
- Wave Enterprises Inc
- EIN
- 95-4274572
- Phone
- 3105064000
- Address
- 24255 PACIFIC COAST HIGHWAY, MALIBU, CA 90263-4497
Signing Officer
- Name
- Nicolle Taylor
- Title
- President
- Phone
- 3105064000
- Signed
- 2022-06-08
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Nicolle Taylor
- Formed
- 1989
- Legal Domicile
- CA
- Voting Board Members
- 6
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 3
Preparer
- Firm
- Kpmg Llp
- Address
- 550 SOUTH HOPE STREET SUITE 1500, LOS ANGELES, CA 90071
- Preparer
- David M Highfill
- Phone
- 2139724000
Supplemental Narrative
Additional Explanations
FORM 990, PART I, LINE 6 - THE NUMBER OF VOLUNTEERS:
“The number of volunteers represents the number of volunteer directors on the board of directors as of the end of the tax year.”
FORM 990, PART XI, LINE 9:
“Actuarial adjustment 43,252.”
Financial Statement Notes
PART IV, LINE 2B:
“Escrow and custodial arrangements: wave enterprises, inc. Records a custodial liability for a life estate that is subject to the life interest of the beneficiary. No significant benefit can be realized until the contractual obligations are released.”
PART X, LINE 2:
“Liability for uncertain tax positions: wave enterprises, inc. Is a subsidiary of pepperdine university, and is included in pepperdine university's consolidated financial statements. Pepperdine university's consolidated financial statements include the following footnote regarding a liability for uncertain tax positions under fasb asc 740: as a not-for-profit educational institution, the university is exempt from federal and california income taxes under section 501(c)(3) of the internal revenue code, and section 23701(d) of the california revenue and taxation code (except for taxes on unrelated business income). Since the university's unrelated business income for the years ended july 31, 2021 and 2020 was immaterial, no provision for income taxes has been made in the accompanying consolidated financial statements.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Actuarial adjustment 43,252. Rental expense reported as functional expense on fs 587,741.”
PART XI, LINE 4B - OTHER ADJUSTMENTS:
“Grants to pepperdine reported as revenue on fs 651,942. Remediation expense reported as revenue for books 4,661,804.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Rental expenses reported net of revenue on form 990 587,741.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Grants to pepperdine reported as revenue on fs 651,942. Remediation expense reported as revenue for books 4,661,804.”
Raw XML AppendixShowing 400 of 896 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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|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 3297909 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 0 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. |
| IRS990/AuditCommitteeInd | 0 | 1 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | LAURA PONDER |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 3105064000 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 24255 PACIFIC COAST HIGHWAY |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | MALIBU |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | CA |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 902634497 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | 0 |
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| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 2104505 |
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| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 0 |
| IRS990/CompensationProcessOtherInd | 0 | 0 |
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| IRS990/ConservationEasementsInd | 0 | 0 |
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| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 0 | ONTARIO |
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| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 0 | UNITED 1 PROTECTION SERVICES LLC |
| IRS990/ContractorCompensationGrp/ServicesDesc | 0 | SECURITY |
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| IRS990/CYContributionsGrantsAmt | 0 | 15464429 |
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| IRS990/CYInvestmentIncomeAmt | 0 | 96029 |
| IRS990/CYOtherExpensesAmt | 0 | 5530175 |
| IRS990/CYOtherRevenueAmt | 0 | -521628 |
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| IRS990/Desc | 0 | WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. AS SUCH, WAVE ENTERPRISES, INC. MANAGES ASSETS, EARNS INCOME, AND PAYS EXPENSES SOLELY FOR THE BENEFIT OF PEPPERDINE UNIVERSITY. |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 533390 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 265503 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 440146 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 243356 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 199217 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 133763 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 248978 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 195754 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 632050 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | CHAIRMAN & PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | DIRECTOR & VP |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | VICE CHAIRMAN |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR AS OF 12/2020 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR AS OF 12/2020 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | VP AS OF 12/20 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | GENERAL COUNSEL AS OF 12/20 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | CHIEF FINANCIAL OFFICER AS OF 12/20 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | CONTROLLER AS OF 12/20 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | FORMER DIRECTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1989 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 1 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 28343 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 6 |
| IRS990/GrantAmt | 0 | 651942 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 651942 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 651942 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 28343 |
| IRS990/GrossReceiptsAmt | 0 | 15626571 |
| IRS990/GrossRentsGrp/RealAmt | 0 | 66113 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 3 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 54422 |
| IRS990/InterestGrp/TotalAmt | 0 | 54422 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 67686 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 67686 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 54876 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 173101 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 3427 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 9 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 508991 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 6128098 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 40988591 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 41497582 |
| IRS990/LegalDomicileStateCd | 0 | CA |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 0 |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 587741 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 9578812 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 33443044 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 28343 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 28343 |
| IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt | 0 | -521628 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | -521628 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 14964267 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 8728269 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 33351876 |
| IRS990/NoncashContributionsAmt | 0 | 15464429 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 41042 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 41042 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 5346 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 5346 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 0 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 155000 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 43252 |
| IRS990/OtherExpensesGrp/Desc | 0 | REMEDIATION EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 1 | MISCELLANEOUS EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 2 | EQUIP RENTAL & MAINT |
| IRS990/OtherExpensesGrp/Desc | 3 | TAXES, FEES, & LICENSES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 5212100 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 27575 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 3055 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 193 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 5212100 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 27575 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 3055 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 193 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 0 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 7730849 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 1198105 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 1174599 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | NICOLLE TAYLOR |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 6457000 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 6168365 |
| IRS990/PYInvestmentIncomeAmt | 0 | 103362 |
| IRS990/PYOtherExpensesAmt | 0 | 254451 |
| IRS990/PYOtherRevenueAmt | 0 | -364373 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 7068 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -219759 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 6422816 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 6203057 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt | 0 | 0 |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 8856713 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RelatedOrganizationsAmt | 0 | 15464429 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | -521628 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | 1 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd | 0 | 1 |
| IRS990ScheduleA/IRSWrittenDeterminationInd | 0 | X |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 951644037 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 651942 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | PEPPERDINE UNIVERSITY |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 651942 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/AgentTrusteeEtcInd | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 40988591 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 508991 |
| IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 40734438 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 763144 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 587741 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 5313746 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 868371 |
| IRS990ScheduleD/ExplanationProvidedInd | 0 | X |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InclEscrowCustodialAcctLiabInd | 0 | 1 |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 14964267 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 587741 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 5313746 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 4661804 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 3069045 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | LIABILITY FOR REMEDIATION COST |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | LONG-TERM PROPERTY TAX ASSESSMENT |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 630993 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 5313746 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 15595260 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 5313746 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 9725084 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | ESCROW AND CUSTODIAL ARRANGEMENTS: WAVE ENTERPRISES, INC. RECORDS A CUSTODIAL LIABILITY FOR A LIFE ESTATE THAT IS SUBJECT TO THE LIFE INTEREST OF THE BENEFICIARY. NO SIGNIFICANT BENEFIT CAN BE REALIZED UNTIL THE CONTRACTUAL OBLIGATIONS ARE RELEASED. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | LIABILITY FOR UNCERTAIN TAX POSITIONS: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY, AND IS INCLUDED IN PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE FOLLOWING FOOTNOTE REGARDING A LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FASB ASC 740: AS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION, THE UNIVERSITY IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE (EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME). SINCE THE UNIVERSITY'S UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JULY 31, 2021 AND 2020 WAS IMMATERIAL, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | ACTUARIAL ADJUSTMENT 43,252. RENTAL EXPENSE REPORTED AS FUNCTIONAL EXPENSE ON FS 587,741. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | GRANTS TO PEPPERDINE REPORTED AS REVENUE ON FS 651,942. REMEDIATION EXPENSE REPORTED AS REVENUE FOR BOOKS 4,661,804. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 4 | RENTAL EXPENSES REPORTED NET OF REVENUE ON FORM 990 587,741. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 5 | GRANTS TO PEPPERDINE REPORTED AS REVENUE ON FS 651,942. REMEDIATION EXPENSE REPORTED AS REVENUE FOR BOOKS 4,661,804. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART IV, LINE 2B: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
Document Assets
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Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $44,595,796
- Liabilities
- $11,152,752
- Net assets
- $33,443,044
- Revenue
- $15,038,830
- Expenses
- $6,182,117
- Net income
- $8,856,713