Making Waves Academy
- Assets
- $9.8m
- Revenue
- $27.3m
- Investments
- $0.0
- Employees
- 204
- Location
- Richmond, CA
- Founding
- 09/2009
- Data as of
- 06/2022
- EIN
- 20-8967421
Organization Overview
Making Waves Academy is located in Richmond, CA. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Making Waves Academy employed 204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Making Waves Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Making Waves Academy generated $27.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $26.0m during the year ending 06/2022. While expenses have increased by 9.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GOAL OF THE ACADEMY IS TO ADVANCE STUDENTS TO AND THROUGH COLLEGE OR POST-SECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAKING WAVES ACADEMY WILL ENSURE THAT OUR YOUTH ACQUIRE THE SKILLS NECESSARY TO GAIN ACCEPTANCE TO AND GRADUATE FROM COLLEGE. MAKING WAVES ACADEMY SERVED OVER 1,100 CHILDREN IN THE FY 21/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alton B Nelson Jr Chief Executive Officer | Officer | 50 | $313,358 |
Xiushi Wei Chief Financial Officer | Officer | 50 | $181,199 |
Evangelia Ward-Jackson Senior School Director | 50 | $180,134 | |
Elizabeth Martinez Chief Operating Officer | Officer | 50 | $169,809 |
Lisa Dodson Managing Director Of Talent | 50 | $166,982 | |
Damon Edwards Chief Technology Officer | 50 | $146,130 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fruge Psychological Assoc Inc Psychologist | 6/29/22 | $689,524 |
Pacheco's Cleaning Service Janitorial Services | 6/29/22 | $404,975 |
Nob Hill Catering Inc Student Food Services | 6/29/22 | $389,460 |
Rtf Edu Enterprises Inc Intervention | 6/29/22 | $275,527 |
Linde Group It Services | 6/29/22 | $262,874 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,254,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,075,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,330,631 |
| Total Program Service Revenue | $0 |
| Investment income | $562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,331,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $859,801 |
| Compensation of current officers, directors, key employees. | $85,981 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,150,179 |
| Pension plan accruals and contributions | $1,296,070 |
| Other employee benefits | $1,760,892 |
| Payroll taxes | $477,968 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,429 |
| Fees for services: Accounting | $28,088 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,918,582 |
| Advertising and promotion | $12,945 |
| Office expenses | $530,997 |
| Information technology | $984,799 |
| Royalties | $0 |
| Occupancy | $2,865,249 |
| Travel | $7,733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $95,939 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,201 |
| Insurance | $238,429 |
| All other expenses | $0 |
| Total functional expenses | $26,024,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,105,196 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,099,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $310,496 |
| Net Land, buildings, and equipment | $287,695 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,802,840 |
| Accounts payable and accrued expenses | $2,160,247 |
| Grants payable | $0 |
| Deferred revenue | $651,789 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,812,036 |
| Net assets without donor restrictions | $6,990,804 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,802,840 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Making Waves Academy has recieved totaling $6,525,368.
| Awarding Organization | Amount |
|---|---|
Scully Memorial Foundation San Rafael, CA PURPOSE: GENERAL SUPPORT | $6,500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $25,250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $118 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rocketship Education Redwood City, CA | $74,871,482 | $120,667,231 |
American Leadership Academy Inc Mesa, AZ | $282,415,478 | $95,654,658 |
Five Keys Schools And Programs San Francisco, CA | $50,545,317 | $97,031,582 |
Inspire Charter Schools Duarte, CA | $15,814,456 | $76,018,441 |
Edkey Inc Mesa, AZ | $135,819,543 | $83,812,049 |
River Springs Charter School Inc Temecula, CA | $93,652,592 | $73,899,584 |
Granada Hills Charter Granada Hills, CA | $124,597,337 | $79,128,584 |
California Online Public Schools San Juan Capistrano, CA | $32,661,705 | $70,303,969 |
Camino Nuevo Charter Academy Los Angeles, CA | $62,441,915 | $60,583,098 |
Gateway Community Charters Mcclellan, CA | $96,780,042 | $72,531,964 |
Visions In Education Carmichael, CA | $94,876,505 | $77,038,173 |
Ofl-Baldwin Park Inc Pasadena, CA | $26,446,895 | $59,505,291 |