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Nonprofiteer
← WAVE POOL CORP

Form 990 for tax year 2024

Filed by WAVE POOL CORP.

Totals

Total revenue
$235,250
Total expenses
$236,880
Contributions and grants received
$190,975
Grants paid
$0
Program service revenue
$23,489
Investment income
$0
Other revenue
$20,786
Total assets, end of year
$581,222
Total liabilities, end of year
$393,887
Net assets or fund balances, end of year
$187,335
Program services expenses (Part IX)
$151,202
Management and general expenses
$62,332
Fundraising expenses
$23,346
Program service expenses (Part III)
$151,202

Program services were 63.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $12,500

  • 1e · Government grants (contributions)

    $22,557

  • 1f · All other contributions, gifts and grants

    $155,918

  • 2a · Program service revenue: Program Fees

    total $22,411 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Facility Rental

    total $1,078 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $5,261

  • 8b · Fundraising events: direct expenses

    $412

  • 8c · Net income from fundraising events

    total $4,849 · unrelated business $0 · excluded $4,849

  • 10a · Gross sales of inventory

    $13,632

  • 10b · Cost of goods sold

    $5,627

  • 10c · Net income from sales of inventory

    total $8,005 · related or exempt $8,005

  • 11a · Other revenue: Miscellaneous

    total $7,932 · related or exempt $439 · unrelated business $0 · excluded $7,493

  • 11e · Other revenue, total

    $7,932

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $89,737 · program services $47,733 · management and general $32,682 · fundraising $9,322

  • 11c · Fees: accounting

    total $7,062 · program services $0 · management and general $7,062 · fundraising $0

  • 11g · Fees: other

    total $16,385 · program services $6,600 · management and general $82 · fundraising $9,703

  • 13 · Office expenses

    total $9,838 · program services $1,834 · management and general $7,646 · fundraising $358

  • 14 · Information technology

    total $675 · program services $0 · management and general $675 · fundraising $0

  • 16 · Occupancy

    total $24,827 · program services $13,206 · management and general $9,042 · fundraising $2,579

  • 22 · Depreciation, depletion and amortization

    total $7,669 · program services $4,079 · management and general $2,793 · fundraising $797

  • 23 · Insurance

    total $5,655 · program services $3,008 · management and general $2,060 · fundraising $587

  • 24a · Other expenses: Artist and partners support

    total $60,226 · program services $60,226 · management and general $0 · fundraising $0

  • 24b · Other expenses: Exhibition cost

    total $14,516 · program services $14,516 · management and general $0 · fundraising $0

  • 24c · Other expenses: Miscellaneous

    total $290 · program services $0 · management and general $290 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $387,597 · end of year $472,122

  • 3 · Pledges and grants receivable

    beginning of year $53,980

  • 8 · Inventories for sale or use

    beginning of year $10,791 · end of year $5,381

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,100 · end of year $4,059

  • 10a · Land, buildings and equipment: cost or other basis

    $97,692

  • 10b · Land, buildings and equipment: accumulated depreciation

    $46,456

  • 10c · Land, buildings and equipment, net

    beginning of year $58,903 · end of year $51,236

  • 11 · Investments: publicly traded securities

    beginning of year $47,021 · end of year $48,424

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,721 · end of year $8,745

  • 25 · Other liabilities

    beginning of year $352,410 · end of year $385,142

  • 27 · Net assets without donor restrictions

    beginning of year $184,261 · end of year $187,335

Mission and programs · 2024

Mission

Wave Pool Contemporary Art Centers purpose is to exhibit, educate, and support artists and help provide services to the community by guest artists, programs, and other events.

  • We inititate and support artist driven creative placemaking projects and exhibiting work that stretches beyond our gallery walls through interactive projects that proactively help our neighbors. We work with partner organizations to tackle tough problems through asset based development and center artist-driven solutions. These projects include more traditional gallery exhibitions as well as projects taking place in public space and with other partner organizations.

    Expenses $90,859 · Revenue $28,914

  • Welcome project - The Welcome Project produces limited edition art pieces in collaboration with renowened artists like Jeffrey Giblson, Vanessa German, and Shahzia Sikander, created by refugee and immigrant artists from Nepal, Togo, and other countries. All profits feed back into growing the Welcome Project.

    Expenses $49,764 · Revenue $3,629

  • Studio and woodshop space rental - Wave Pool has always been a space not just for art viewing, but for making, artistic development, and community building. Wave Pools wood shop has recently been upgraded and now has regular community hours where anyone is welcome to learn how to use a tool, take a class, or build a personal project. We also have resources and space for weekly open community cermanic classes. We have scholarships available for folks that can not normally afford to take these classes, and also now have a tool library available for neighorbhood residents to borrow tools to use at home for projects.

    Expenses $10,579 · Revenue $4,578

As filed on the 2024 return.

Listed in Part VII

  • Carrington Broeman

    Interim Executive Director

    Total calculated
    $0
    Hours/week
    40

  • Jenna Shaifer

    Board Chair

    Total calculated
    $0
    Hours/week
    2

  • Lee Bower

    Vice Chair and Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Geoffrey Cullen

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Sara Vance Waddell

    Member

    Total calculated
    $0
    Hours/week
    1

  • Diane Fishbein

    Member

    Total calculated
    $0
    Hours/week
    1

  • Michael Mann

    Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
5 February 2026
IRS schema version
2024v5.2
Source object
202620869349301017

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