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Nonprofiteer
← WAVE ENTERPRISES INC

Form 990 for tax year 2024

Filed by WAVE ENTERPRISES INC.

Totals

Total revenue
-$2,494,111
Total expenses
$390,485
Contributions and grants received
$0
Grants paid
$6,900
Program service revenue
$0
Investment income
-$2,236,339
Other revenue
-$257,772
Total assets, end of year
$20,212,007
Total liabilities, end of year
$8,462,147
Net assets or fund balances, end of year
$11,749,860
Program services expenses (Part IX)
$6,900
Management and general expenses
$383,585
Fundraising expenses
$0
Program service expenses (Part III)
$6,900

Program services were 1.8% 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.

  • 3 · Investment income

    total $72,125 · excluded $72,125

  • 6a · Gross rents

    real property $1,500

  • 6b · Less rental expenses

    real property $259,272

  • 6c · Rental income or loss

    real property -$257,772

  • 6d · Net rental income or loss

    total -$257,772 · excluded -$257,772

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

    other assets $2,308,464

  • 7c · Gain or loss

    other assets -$2,308,464

  • 7d · Net gain or loss

    total -$2,308,464 · excluded -$2,308,464

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,900 · program services $6,900

  • 11b · Fees: legal

    total $127,730 · management and general $127,730

  • 11c · Fees: accounting

    total $16,472 · management and general $16,472

  • 11g · Fees: other

    total $111,753 · management and general $111,753

  • 16 · Occupancy

    total -$12,921 · management and general -$12,921

  • 20 · Interest

    total $48,644 · management and general $48,644

  • 22 · Depreciation, depletion and amortization

    total $16,944 · management and general $16,944

  • 24a · Other expenses: REAL ESTATE EXPENSES

    total $50,700 · management and general $50,700

  • 24b · Other expenses: EQUIPMENT RENTAL & MAIN

    total $17,931 · management and general $17,931

  • 24c · Other expenses: OTHER EXPENSES

    total $6,307 · management and general $6,307

  • 24d · Other expenses: TAXES, FEES, & LICENSES

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $362,969

  • 4 · Accounts receivable

    beginning of year $300,526 · end of year $650,142

  • 7 · Other notes and loans receivable

    beginning of year $1,087,559 · end of year $1,051,912

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

    $18,025,001

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $20,953,324 · end of year $18,025,001

  • 12 · Investments: other securities

    beginning of year $117,826 · end of year $121,983

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,266,662 · end of year $5,798,952

  • 25 · Other liabilities

    beginning of year $5,616,381 · end of year $2,663,195

  • 27 · Net assets without donor restrictions

    beginning of year $11,610,421 · end of year $11,782,361

  • 28 · Net assets with donor restrictions

    beginning of year -$34,229 · end of year -$32,501

Mission and programs · 2024

Mission

WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY.

  • WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. AS SUCH, WAVE ENTERPRISES, INC. MANAGES ASSETS, EARNS INCOME, AND PAYS EXPENSES SOLELY FOR THE BENEFIT OF PEPPERDINE UNIVERSITY.

    Expenses $6,900 · Grants $6,900

As filed on the 2024 return.

Listed in Part VII

  • Daniel Dewalt

    DIRECTOR & VICE PRESIDENT

    Total calculated
    $458,169
    From this org
    $0
    From related orgs
    $389,748
    Other
    $68,421
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $323,877 related
    Bonus
    $0 + $61,000 related
    Other
    $0 + $4,871 related
    Deferred
    $0 + $33,471 related
    Nontaxable benefits
    $0 + $34,950 related
    Filer's total
    $0 + $458,169 related

  • James Gash

    DIRECTOR

    Total calculated
    $1,323,005
    From this org
    $0
    From related orgs
    $917,815
    Other
    $405,190
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $562,795 related
    Bonus
    $0 + $350,000 related
    Other
    $0 + $5,020 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $370,690 related
    Filer's total
    $0 + $1,323,005 related

  • Dee Anna Smith

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nicolle Taylor

    PRESIDENT

    Total calculated
    $461,094
    From this org
    $0
    From related orgs
    $409,633
    Other
    $51,461
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $340,492 related
    Bonus
    $0 + $68,000 related
    Other
    $0 + $1,141 related
    Deferred
    $0 + $34,481 related
    Nontaxable benefits
    $0 + $16,980 related
    Filer's total
    $0 + $461,094 related

  • Jeffrey Rohde

    VICE PRESIDENT

    Total calculated
    $524,413
    From this org
    $0
    From related orgs
    $447,528
    Other
    $76,885
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $375,718 related
    Bonus
    $0 + $71,000 related
    Other
    $0 + $810 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $42,385 related
    Filer's total
    $0 + $524,413 related

  • Faye Holton

    SECRETARY

    Total calculated
    $293,230
    From this org
    $0
    From related orgs
    $248,525
    Other
    $44,705
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,969 related
    Bonus
    $0
    Other
    $0 + $3,556 related
    Deferred
    $0 + $25,239 related
    Nontaxable benefits
    $0 + $19,466 related
    Filer's total
    $0 + $293,230 related

  • Greg Ramirez

    CHIEF FINANCIAL OFFICER/TREASURER

    Total calculated
    $464,238
    From this org
    $0
    From related orgs
    $427,277
    Other
    $36,961
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $357,347 related
    Bonus
    $0 + $69,000 related
    Other
    $0 + $930 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $2,461 related
    Filer's total
    $0 + $464,238 related

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

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION OF THE ORGANIZATION'S CEO: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS AND COMPENSATED DIRECTORS ARE COMPENSATED BY PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY USED ONE OR MORE OF THE METHODS DESCRIBED IN PART I, LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PEPPERDINE UNIVERSITY

    501(C)(3) · EDUCATION · CA

  • WAVE SERVICES INC

    501(C)(3) · SUPPORT · CA

    Directly controlled by PEPPERDINE

  • PEPPERDINE UNIVERSITY (USA) IN LONDON

    EDUCATION · UK

    Directly controlled by PEPPERDINE

  • PEPPERDINE UNIVERSITY RWANDA CBC

    SOCIAL JUSTICE · RW

    Directly controlled by PEPPERDINE

  • PEPPERDINE GHANA LGB

    SOCIAL JUSTICE · GH

    Directly controlled by PEPPERDINE

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ANDURIL HOLDINGS LLC

    N/A · INVESTMENTS · DE

  • MELODEON LBS DE I HOLDCO LP

    N/A · INVESTMENTS · CT

  • P-901 NORTH FAIRFAX CO-INVESTOR LLC

    N/A · REAL ESTATE · CA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PEPPERDINE UNIVERSITY SRL

    C · EDUCATION · AR

    Directly controlled by PEPPERDINE

  • FUNDACION PEPPERDINE UNIVERSITY PARA AMERICA LATINA

    C · EDUCATION · AR

    Directly controlled by PEPPERDINE

  • REVOCABLE TRUST

    T · INVESTING · CA

    Directly controlled by PEPPERDINE

  • IRREVOCABLE TRUSTS

    T · INVESTING · CA

    Directly controlled by WAVE SERVICES

  • CHARITABLE REMAINDER UNITRUSTS (1)

    T · INVESTING · CA

    Directly controlled by PEPPERDINE

  • CHARITABLE GIFT ANNUITIES (68)

    T · INVESTING · CA

    Directly controlled by PEPPERDINE

  • CHARITABLE REMAINDER UNITRUSTS (69)

    T · INVESTING · CA

    Directly controlled by WAVE SERVICES

  • CHARITABLE REMAINDER ANNUITY TRUSTS (1)

    T · INVESTING · CA

    Directly controlled by WAVE SERVICES

  • NET INCOME WITH MAKEUP CHARITABLE REMAINDER UNITRUST (4)

    T · INVESTING · CA

    Directly controlled by WAVE SERVICES

  • CINDERELLA IMMOBILIARE SRL

    C · EDUCATION · IT

    Directly controlled by PEPPERDINE

Provenance

Return type
form_990
Tax year
2024
Filed
10 June 2026
IRS schema version
2024v5.5
Source object
202631629349301503

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