Wave Foundation Inc
- Assets
- $2.4m
- Revenue
- $624.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, KY
- Founding
- 11/1998
- Data as of
- 12/2021
- EIN
- 61-1325992
Organization Overview
Wave Foundation Inc is located in Newport, KY. The organization was established in 1998. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wave Foundation Inc 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 12/2021, Wave Foundation Inc generated $624.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $333.4k during the year ending 12/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WAVE FOUNDATION STRIVES TO EXCITE, ENGAGE AND EDUCATE OUR COMMUNITIES ABOUT AQUATIC LIFE AND THE IMPORTANCE OF PROTECTING AND CONSERVING NATURAL RESOURCES AND THE ENVIRONMENT. PROGRAMMING INITIATIVES EXIST IN THREE CORE AREAS: EDUCATION, CONSERVATION AND VOLUNTEERISM. WAVE PROVIDES UNIQUE EDUCATION CURRICULUM AND EXPERIENCES FOR STUDENTS OF ALL AGES; SUPPORTS AND PROVIDES LEADERSHIP IN LOCAL, NATIONAL AND GLOBAL CONSERVATION EFFORTS; AND HAS A VIBRANT VOLUNTEER PROGRAM WITH OVER 400 DEDICATED VOLUNTEERS.EACH OF WAVE'S PROGRAMS AIMS TO INCREASE AWARENESS, CURIOSITY AND RESPECT OF AQUATIC ANIMALS AND THEIR ENVIRONMENTS. IN DOING SO, WE CREATE UNIQUE OPPORTUNITIES FOR THE COMMUNITY TO EXPERIENCE AND PARTICIPATE IN OUR PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS- PROVIDES CURRICULUM FOR TEACHERS AND STUDENTS THAT FURTHER THE EDUCATIONAL GOALS OF WAVE FOUNDATION'S MISSION AND NEWPORT AQUARIUM'S PROGRAMMING WHICH INCLUDE EDUCATIONAL CAMPS, COMMUNITY OUTREACH AND AFTER SCHOOL PROGRAMMING.
CONSERVATION PROGRAMS- PROVIDES FUNDING FOR CONSERVATION PROJECTS LOCALLY, NATIONALLY AND INTERNATIONALLY. ALSO INCLUDES MERCHANDISE SALES WHICH INCLUDE ANIMAL ART, ANIMAL ADOPTIONS, SHARK TOOTH NECKLACES, COIN DROPS AND KY WILD CARDS. FUNDS RAISED FROM THE SALES OF THESE ITEMS HELP TO SUPPORT OUR CONSERVATION INITIATIVES.
VOLUNTEER PROGRAMS- RECRUIT, ON-BOARD, TRAIN AND SCHEDULE VOLUNTEERS TO PROVIDE EDUCATION TO NEWPORT AQUARIUM GUESTS AS WELL AS THE GREATER CINCINNATI AREA. VOLUNTEER PROGRAMS INCLUDE EXHIBIT INTERPRETERS, DIVE SERVICES, SUMMER NATURALIST TEEN PROGRAMMING, OUTREACH EDUCATION SPECIALISTS, HUSBANDRY AIDES AND EPISODIC VOLUNTEERS TO SUPPORT OUR FUNDRAISING EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Wingate Executive Director - Exited 8/1/2021 | Officer | 60 | $43,809 |
Tricia Watts Executive Director - Joined 12/6/21 | Officer | 60 | $3,465 |
Tabitha Tolliver Chair | OfficerTrustee | 2 | $0 |
Jeff Weisker Vice Chair | OfficerTrustee | 1 | $0 |
Shayna Nevermann Secretary | OfficerTrustee | 1 | $0 |
Jacob Purcell Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,478 |
| Related organizations | $0 |
| Government grants | $68,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $274,205 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $399,683 |
| Total Program Service Revenue | $107,333 |
| Investment income | $31,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,465 |
| Net Income from Fundraising Events | $52,843 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $31,258 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $624,379 |
| 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. | $47,814 |
| Compensation of current officers, directors, key employees. | $21,456 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,967 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,001 |
| Payroll taxes | $14,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,667 |
| Advertising and promotion | $1,680 |
| Office expenses | $11,916 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $761 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,773 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,603 |
| Insurance | $10,145 |
| All other expenses | $0 |
| Total functional expenses | $333,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $460,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,265 |
| 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 | $5,409 |
| Net Land, buildings, and equipment | $34,720 |
| Investments—publicly traded securities | $1,855,989 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,358,026 |
| Accounts payable and accrued expenses | $18,662 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $18,662 |
| Net assets without donor restrictions | $2,186,210 |
| Net assets with donor restrictions | $153,154 |
| 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 | $2,358,026 |
Grants Awarded
Over the last fiscal year, Wave Foundation Inc has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Monterey, CA PURPOSE: Aquarium Conservation Partners | $10,000 |
Dallas, TX PURPOSE: Conservation/Research | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Wave Foundation Inc has recieved totaling $135,255.
| Awarding Organization | Amount |
|---|---|
Pacificsource Foundation For Health Improvement Springfield, OR PURPOSE: SUSTAINABLE FOOD FOR INDIGENOUS PEOPLES IN THE PACIFIC NORTHWEST | $50,000 |
Charles H Dater Foundation Inc Cincinnati, OH PURPOSE: OUTREACH EDUCATION | $25,000 |
The Charlotte R Schmidlapp Fund Cincinnati, OH PURPOSE: PROGRAM/PROJECT SUPPORT | $25,000 |
Dudley Taft Charitable Fdn Cincinnati, OH PURPOSE: ANNUAL FUND | $20,000 |
Daniel And Susan Pfau Charitable Foundation Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $255 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Rock And Roll Hall Of Fame And Museum Inc Cleveland, OH | $155,983,812 | $52,609,977 |
National Football Museum Inc Canton, OH | $45,241,637 | $30,879,205 |
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Cincinnati Museum Center Cincinnati, OH | $282,646,725 | $49,474,377 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |