Making Waves Foundation Inc
- Assets
- $241.7m
- Revenue
- $12.4m
- Investments
- $22.1m
- Employees
- 0
- Location
- Richmond, CA
- Founding
- 01/1990
- Data as of
- 06/2021
- EIN
- 68-0204312
Organization Overview
Making Waves Foundation Inc is located in Richmond, CA. The organization was established in 1990. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Making Waves 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 06/2021, Making Waves Foundation Inc generated $12.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $19.3m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC COACHING, GRANTS AND/OR SCHOLARSHIPS, TRAINING IN PERSONAL DEVELOPMENT, PROVIDING NEW RECREATIONAL AND CULTURE DEVELOPMENT AND CAREER OPPORTUNITY EXPOSURE.
DEVELOPMENT EXPENDITURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rong Clark Chief Financial Officer | 40 | $286,240 | |
Patrick O'donnell Chief Executive Officer | 40 | $266,423 | |
Darcy Deming Chief Advancement Officer | 40 | $264,012 | |
Melissa Fries Executive Director, College & Alumni P | 40 | $253,428 | |
Frank Lucido Director Of Informat | 40 | $179,114 | |
Jerold Ligons VP Of Property Mgmt | 40 | $166,797 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Campus Llc | 6/29/21 | $923,804 |
Allen Matkins | 6/29/21 | $511,049 |
Jm Drummond | 6/29/21 | $122,446 |
Heather Zapata | 6/29/21 | $94,115 |
Cliftonlarsonallen Llp | 6/29/21 | $59,481 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,069,234 |
| Interest on Savings | $0 |
| Dividends & Interest | $428,707 |
| Net Rental Income | $2,380,661 |
| Net Gain on Sale of Assets | $1,557,610 |
| Capital Gain Net Income | $395,979 |
| Net ST Capital Gain | $395,979 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,436,212 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,070,103 |
| Other employee salaries and wages | $4,069,124 |
| Pension plans, employee benefits | $996,410 |
| Interest | $1,639,857 |
| Taxes | $2,208,297 |
| Depreciation | $4,743,057 |
| Occupancy | $877,494 |
| Travel, conferences, and meetings | $23,984 |
| Printing and publications | $8,269 |
| Other expenses | $2,912,969 |
| Total operating and administrative expenses | $19,247,071 |
| Contributions, gifts, grants paid | $78,179 |
| Total expenses and disbursements | $19,325,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,402,303 |
| Savings and temporary cash investments | $4,175,096 |
| Net Accounts receivable | $7,114 |
| Net Pledges Receivable | $713,697 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,531,498 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $199,466,507 |
| Other assets | $7,287,816 |
| Total assets | $241,696,341 |
| Accounts payable and accrued expenses | $1,147,494 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $37,729,872 |
| Other liabilities | $633,825 |
| Total liabilities | $39,511,191 |
Grants Awarded
Over the last fiscal year, Making Waves Foundation Inc has awarded $78,179 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, CA PURPOSE: PROVIDE FUNDING FOR THE SCHOOL. | $70,809 |
Richmond, CA PURPOSE: DONATION OF GOLF CART TO SCHOOL | $7,370 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Making Waves Foundation Inc has recieved totaling $18,564,500.
| Awarding Organization | Amount |
|---|---|
Scully Memorial Foundation San Rafael, CA PURPOSE: CONSTRUCTION | $18,100,000 |
Payette River Foundation Lafayette, CA PURPOSE: CAP PROGRAM | $300,000 |
Robert & Ruth Halperin Foundation San Francisco, CA PURPOSE: TO SUPPORT EDUCATION PROGRAMS | $50,000 |
Tipping Point Community San Francisco, CA PURPOSE: EDUCATION ISSUE AREA | $50,000 |
Robert And Dana Emery Family Foundation Wilmington, DE PURPOSE: UNRESTRICTED GRANT RELATED TO YOUTH ACADEMICS AND ENRICHMENT | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hispanic Scholarship Fund Gardena, CA | $152,619,685 | $60,036,131 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
College Track Oakland, CA | $64,375,720 | $27,539,542 |
Business For Social Responsibility San Francisco, CA | $23,283,625 | $33,746,077 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Mcconnell Foundation Redding, CA | $0 | $21,867,294 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |
Making Waves Foundation Inc Richmond, CA | $241,696,341 | $12,436,212 |
Port Of Los Angeles High School San Pedro, CA | $18,161,675 | $15,549,620 |
Uc Hastings Foundation San Francisco, CA | $2,612,244 | $11,589,695 |