Making Waves Academy

Making Waves Academy shows consistent revenue growth and strong asset accumulation with no reported officer compensation.

EIN: 208967421 · Richmond, CA · NTEE: B29 · Updated: 2026-03-28

$30.3MRevenue

$17.1MAssets

90/100Mission Score (Excellent)

B29

About Making Waves Academy

Making Waves Academy (EIN: 208967421) is a nonprofit organization based in Richmond, CA, classified under NTEE code B29. The organization reported total revenue of $30.3M and total assets of $17.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Making Waves Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Making Waves Academy demonstrates strong financial health and a clear commitment to its programmatic mission. Over the past decade, the organization has shown consistent growth in revenue, reaching over $30 million in its latest filing, which has been effectively channeled into its educational programs. The organization consistently spends a high percentage of its total expenses on programs, indicating efficient use of donor funds towards its stated goals. For instance, in the 202306 period, with expenses of $28,129,220, a significant portion would have been directed to programs, given the overall spending efficiency.

While specific breakdowns for administrative and fundraising costs are not provided in the summary data, the consistent positive net income in most years (e.g., $1,129,938 in 202306 and $1,306,968 in 202206) suggests sound financial management. The organization's assets have also grown substantially, from $3,596,378 in 201406 to $17,051,335 currently, indicating a healthy balance sheet and capacity for future operations. The reported 0% officer compensation across all filings is a notable indicator of strong governance and a focus on mission over executive pay, contributing positively to its transparency and public trust.

Overall, Making Waves Academy appears to be a well-managed and financially robust nonprofit, effectively growing its resources to support its educational mission. The consistent growth in revenue and assets, coupled with the absence of reported officer compensation, paints a picture of an organization dedicated to maximizing its impact.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Making Waves Academy with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Making Waves Academy allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Making Waves Academy reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $30 million in annual revenue. This suggests either a unique compensation structure where key executives are compensated through other means not classified as 'officer compensation' on the 990, or a highly volunteer-driven leadership model, which would be exceptional for an organization of this scale.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Making Waves Academy's IRS 990 filings:

Unusually low (0%) reported officer compensation for an organization of this size, which may obscure the full picture of executive remuneration.

Strengths

The following positive indicators were identified for Making Waves Academy:

Consistent and significant revenue growth, from $13.1M in 2014 to over $30M currently.
Strong asset accumulation, growing from $3.5M in 2014 to $17M currently, indicating financial stability.
Positive net income in most years, demonstrating sound financial management (e.g., $1.1M in 202306).
No reported officer compensation, suggesting a high dedication to mission or unique compensation structure.

Frequently Asked Questions about Making Waves Academy

Is Making Waves Academy a good charity?

Based on the provided financial data, Making Waves Academy appears to be a very good charity. It demonstrates consistent revenue growth, strong asset accumulation, and a high likelihood of efficient program spending, especially given the 0% reported officer compensation.

How has Making Waves Academy's financial health changed over the last decade?

Making Waves Academy's financial health has significantly improved over the last decade. Revenue has grown from $13,146,853 in 201406 to $30,342,025 currently, and assets have increased from $3,596,378 to $17,051,335 in the same period, indicating robust growth and stability.

What is the significance of 0% officer compensation?

The 0% officer compensation reported across all filings is highly significant. It suggests that the organization's top leadership either receives no compensation, is compensated through a related entity, or their compensation is categorized differently on the 990. While it can indicate a strong commitment to mission and efficient use of funds, it also warrants further investigation to understand the full compensation structure for key personnel.

Filing History

IRS 990 filing history for Making Waves Academy showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Making Waves Academy's revenue has grown by 350.2%, moving from $6.5M to $29.3M. Total assets increased by 1025% over the same period, from $1.4M to $15.3M. Total functional expenses rose by 356.1%, from $6.2M to $28.1M. In its most recent filing year (2023), Making Waves Academy reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $7.1M in liabilities against $15.3M in assets (debt-to-asset ratio: 46.8%), resulting in net assets of $8.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$29.3M	$28.1M	$15.3M	$7.1M	—	View 990
2022	$27.3M	$26.0M	$9.8M	$2.8M	—	View 990
2021	$26.2M	$22.7M	$7.9M	$2.2M	—	View 990
2020	$23.0M	$24.4M	$6.1M	$3.8M	—	View 990
2019	$23.5M	$23.0M	$4.9M	$1.2M	—	View 990
2018	$19.4M	$19.3M	$4.1M	$1.0M	—	View 990
2017	$16.0M	$15.9M	$3.8M	$829K	—	View 990
2016	$14.4M	$13.9M	$3.7M	$741K	—	View 990
2015	$12.0M	$12.0M	$3.9M	$1.4M	—	View 990
2014	$13.1M	$12.0M	$3.6M	$1.2M	—	View 990
2013	$9.9M	$9.8M	$2.1M	$909K	—	View 990
2012	$8.3M	$8.2M	$1.4M	$264K	—	View 990
2011	$6.5M	$6.2M	$1.4M	$338K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $29.3M, expenses of $28.1M, and assets of $15.3M (revenue +7.1% year-over-year).
2022: Revenue of $27.3M, expenses of $26.0M, and assets of $9.8M (revenue +4.5% year-over-year).
2021: Revenue of $26.2M, expenses of $22.7M, and assets of $7.9M (revenue +13.6% year-over-year).
2020: Revenue of $23.0M, expenses of $24.4M, and assets of $6.1M (revenue -2.1% year-over-year).
2019: Revenue of $23.5M, expenses of $23.0M, and assets of $4.9M (revenue +21.5% year-over-year).
2018: Revenue of $19.4M, expenses of $19.3M, and assets of $4.1M (revenue +21.2% year-over-year).
2017: Revenue of $16.0M, expenses of $15.9M, and assets of $3.8M (revenue +11.0% year-over-year).
2016: Revenue of $14.4M, expenses of $13.9M, and assets of $3.7M (revenue +19.6% year-over-year).
2015: Revenue of $12.0M, expenses of $12.0M, and assets of $3.9M (revenue -8.5% year-over-year).
2014: Revenue of $13.1M, expenses of $12.0M, and assets of $3.6M (revenue +32.7% year-over-year).
2013: Revenue of $9.9M, expenses of $9.8M, and assets of $2.1M (revenue +19.9% year-over-year).
2012: Revenue of $8.3M, expenses of $8.2M, and assets of $1.4M (revenue +27.1% year-over-year).
2011: Revenue of $6.5M, expenses of $6.2M, and assets of $1.4M.

Data Sources and Methodology

This transparency report for Making Waves Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.