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Nonprofiteer
← SOUNDWAVES ART FOUNDATION

Form 990 for tax year 2024

Filed by SOUNDWAVES ART FOUNDATION.

Totals

Total revenue
$3,487,619
Total expenses
$2,914,534
Contributions and grants received
$100,000
Grants paid
$1,187,493
Program service revenue
$0
Investment income
$38,502
Other revenue
$3,349,117
Total assets, end of year
$3,399,129
Total liabilities, end of year
$34,528
Net assets or fund balances, end of year
$3,364,601
Program services expenses (Part IX)
$2,602,804
Management and general expenses
$294,461
Fundraising expenses
$17,269
Program service expenses (Part III)
$2,602,804

Program services were 89.3% 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.

  • 1f · All other contributions, gifts and grants

    $100,000

  • 3 · Investment income

    total $38,138 · excluded $38,138

  • 7a · Gross sales of assets other than inventory

    securities $364

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $364

  • 7d · Net gain or loss

    total $364 · excluded $364

  • 10a · Gross sales of inventory

    $3,952,750

  • 10b · Cost of goods sold

    $611,798

  • 10c · Net income from sales of inventory

    total $3,340,952 · related or exempt $3,340,952

  • 11a · Other revenue: COMMISSION INCOME

    total $8,165 · related or exempt $8,165

  • 11e · Other revenue, total

    $8,165

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $747,057 · program services $747,057

  • 3 · Grants to foreign organizations and individuals

    total $440,436 · program services $440,436

  • 5 · Compensation of officers, directors and key employees

    total $372,594 · program services $335,334 · management and general $33,534 · fundraising $3,726

  • 7 · Other salaries and wages

    total $259,229 · program services $233,306 · management and general $23,331 · fundraising $2,592

  • 9 · Other employee benefits

    total $70,716 · program services $63,645 · management and general $6,364 · fundraising $707

  • 10 · Payroll taxes

    total $39,612 · program services $35,651 · management and general $3,565 · fundraising $396

  • 11a · Fees: management

    total $129,065 · program services $116,158 · management and general $11,616 · fundraising $1,291

  • 11b · Fees: legal

    total $351 · program services $315 · management and general $32 · fundraising $4

  • 11c · Fees: accounting

    total $13,674 · program services $2,735 · management and general $10,802 · fundraising $137

  • 11f · Fees: investment management

    total $1,978 · program services $1,780 · management and general $178 · fundraising $20

  • 11g · Fees: other

    total $450,710 · program services $405,639 · management and general $40,564 · fundraising $4,507

  • 12 · Advertising and promotion

    total $594 · program services $535 · management and general $53 · fundraising $6

  • 13 · Office expenses

    total $153,091 · program services $30,618 · management and general $120,942 · fundraising $1,531

  • 14 · Information technology

    total $25,032 · program services $5,007 · management and general $19,775 · fundraising $250

  • 16 · Occupancy

    total $169,576 · program services $152,618 · management and general $15,262 · fundraising $1,696

  • 17 · Travel

    total $8,633 · program services $7,770 · management and general $777 · fundraising $86

  • 19 · Conferences, conventions and meetings

    total $1,043 · program services $939 · management and general $94 · fundraising $10

  • 23 · Insurance

    total $19,142 · program services $17,228 · management and general $1,723 · fundraising $191

  • 24a · Other expenses: MEALS & ENTERTAINMENT

    total $6,114 · program services $1,223 · management and general $4,830 · fundraising $61

  • 24b · Other expenses: AUTO EXPENSES

    total $5,191 · program services $4,672 · management and general $467 · fundraising $52

  • 24c · Other expenses: MISCELLANEOUS

    total $696 · program services $138 · management and general $552 · fundraising $6

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,394,511 · end of year $1,839,277

  • 8 · Inventories for sale or use

    beginning of year $46,277 · end of year $83,754

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

    $390,235

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

    $5,309

  • 10c · Land, buildings and equipment, net

    beginning of year $281,500 · end of year $384,926

  • 11 · Investments: publicly traded securities

    end of year $1,090,753

  • 14 · Intangible assets

    end of year $419

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,416 · end of year $32,293

  • 22 · Loans and payables to officers and key people

    end of year $2,235

  • 27 · Net assets without donor restrictions

    beginning of year $2,671,872 · end of year $3,364,601

Mission and programs · 2024

Mission

WE ARE A PHILANTHROPIC FOUNDATION THAT MAKES ORIGINAL PIECES OF ART BY CAPTURING THE DIGITAL HEARTBEAT OF SOME OF THE WORLD'S MOST ICONIC MUSIC. 100% OF OUR PROFITS GO TO CHARITIES FOCUSING ON SOCIAL JUSTICE, THE ENVIRONMENT, DISASTER RELIEF, MUSIC EDUCATION, AND MENTAL HEALTH.

  • ART MADE FROM SOUND WAVES, SIGNED AND SOLD TO BENEFIT CHARITIES AROUND THE WORLD.

    Expenses $2,602,804 · Grants $1,187,493 · Revenue $3,349,117

As filed on the 2024 return.

Listed in Part VII

  • Makenna Hatter-Paxton

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Nina Miller

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Edward Bailey

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Timothy W Wakefield

    MANAGING DIRECTOR

    Total calculated
    $310,415
    From this org
    $300,000
    From related orgs
    $0
    Other
    $10,415
    Hours/week
    70

    Schedule J breakdown matched by us

    Base
    $300,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,415
    Filer's total
    $310,415

  • Sharon Wakefield

    ACCOUNTING DIRECTOR

    Total calculated
    $62,178
    From this org
    $62,178
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349320911

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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