Wave Aquatics
- Assets
- $630.5k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 94
- Location
- Kirkland, WA
- Founding
- 10/1987
- Data as of
- 08/2021
- EIN
- 91-1386855
Organization Overview
Wave Aquatics is located in Kirkland, WA. The organization was established in 1987. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 08/2021, Wave Aquatics employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wave Aquatics 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 08/2021, Wave Aquatics generated $2.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $2.4m during the year ending 08/2021. While expenses have increased by 4.6% per year over the past 6 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 PROVIDES A RANGE OF PUBLIC AQUATICS PROGRAMS AND FACILITIES MANAGEMENT SERVICES IN ORDER TO ENHANCE HEALTH, FITNESS, SAFETY, RECREATION, AND QUALITY OF LIFE FOR OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE A PUBLIC SWIMMING POOL WHICH IS AVAILABLE TO THE LOCAL COMMUNITY. PROVIDES RECREATION, HEALTH, EDUCATION, TRAINING, AND COMPETITIVE ACTIVITIES. IN ADDITION TO PUBLIC SWIM, THE ORGANIZATION MADE THE POOL AVAILABLE FOR AEROBICS, SWIM CLASSES AND INSTRUCTION FOR INDIVIDUALS, AND OTHER COMPETITIVE TEAM WORKOUTS AND MEETS.
PROVIDE OPPORTUNITY FOR YOUTH TO DEVELOP COMPETITIVE SWIMMING SKILLS THROUGH SUPERVISED WORKOUT PROGRAMS AND SWIM MEETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Winkle Executive Dir. | Officer | 40 | $81,294 |
Steven Freygang Former Exec Director | 40 | $17,845 | |
Kfir Ami-Ad President | OfficerTrustee | 2 | $0 |
Julie Soedel Treasurer | OfficerTrustee | 2 | $0 |
Cari Brumfield Secretary | OfficerTrustee | 2 | $0 |
Raouel Sreenivasan Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $518,837 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,181 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $586,018 |
| Total Program Service Revenue | $1,915,719 |
| Investment income | $68 |
| 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 | $2,501,805 |
| 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. | $99,138 |
| Compensation of current officers, directors, key employees. | $99,138 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,179,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,594 |
| Payroll taxes | $128,936 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,038 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $33,521 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $468,650 |
| Travel | $10,958 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,457 |
| Insurance | $25,893 |
| All other expenses | $55,892 |
| Total functional expenses | $2,381,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $410,081 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,666 |
| 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 | $27,269 |
| Net Land, buildings, and equipment | $160,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $951 |
| Total assets | $630,453 |
| Accounts payable and accrued expenses | $121,461 |
| Grants payable | $0 |
| Deferred revenue | $12,360 |
| 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 | $133,821 |
| Net assets without donor restrictions | $496,632 |
| 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 | $630,453 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wave Aquatics has recieved totaling $10,301.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,301 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wave Aquatics Kirkland, WA | $630,453 | $2,501,805 |
George Y Pocock Rowing Foundation Seattle, WA | $3,882,620 | $2,812,752 |
Seattle Metropolitan Aquatic Club Smac Seattle, WA | $884,255 | $1,782,098 |
United Catcher Boats Seattle, WA | $475,180 | $1,731,610 |
View Ridge Swim And Tennis Club Inc Seattle, WA | $3,724,944 | $1,441,409 |
Sammamish Rowing Association Redmond, WA | $4,776,054 | $1,351,994 |
Issaquah Swim Team Association Issaquah, WA | $1,210,423 | $1,327,015 |
Lake Oswego Swim Club Lake Oswego, OR | $414,917 | $727,237 |
Arbor Heights Swim Club Inc Seattle, WA | $1,525,580 | $677,128 |
Whitewater Aquatics Management Seattle, WA | $197,555 | $544,677 |
Innis Arden Swim Club Shoreline, WA | $1,906,549 | $769,141 |
Usa Swimming Inc Auburn, WA | $927,564 | $338,583 |