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Nonprofiteer
← WAVE SERVICES INC

Form 990 for tax year 2023

Filed by WAVE SERVICES INC.

Totals

Total revenue
$13,692,234
Total expenses
$32,076
Contributions and grants received
$13,494,987
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$197,247
Total assets, end of year
$162,494,218
Total liabilities, end of year
$78,618,058
Net assets or fund balances, end of year
$83,876,160
Program services expenses (Part IX)
$0
Management and general expenses
$32,076
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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

    $13,494,987

  • 1g · Noncash contributions included above

    $5,166,650

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $197,247 · excluded $197,247

  • 11e · Other revenue, total

    $197,247

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $15,752 · management and general $15,752

  • 11c · Fees: accounting

    total $15,524 · management and general $15,524

  • 24a · Other expenses: OTHER MISCELLANEOUS EXP

    total $800 · management and general $800

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,029,552 · end of year $2,299,702

  • 4 · Accounts receivable

    beginning of year $4,435,529 · end of year $229,266

  • 15 · Other assets

    beginning of year $141,123,674 · end of year $159,965,250

  • 19 · Deferred revenue

    beginning of year $2 · end of year $2

  • 21 · Escrow or custodial account liability

    beginning of year $66,580,225 · end of year $78,618,056

  • 27 · Net assets without donor restrictions

    beginning of year $10,465,080 · end of year $2,528,968

  • 28 · Net assets with donor restrictions

    beginning of year $74,543,448 · end of year $81,347,192

Mission and programs · 2023

Mission

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

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

As filed on the 2023 return.

Listed in Part VII

  • James Gash

    DIRECTOR & VICE PRESIDENT

    Total calculated
    $1,201,549
    From this org
    $0
    From related orgs
    $793,965
    Other
    $407,584
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $526,673 related
    Bonus
    $0 + $262,350 related
    Other
    $0 + $4,942 related
    Deferred
    $0 + $35,000 related
    Nontaxable benefits
    $0 + $372,584 related
    Filer's total
    $0 + $1,201,549 related

  • Daniel Dewalt

    DIRECTOR & VICE PRESIDENT

    Total calculated
    $431,197
    From this org
    $0
    From related orgs
    $364,776
    Other
    $66,421
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $310,262 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $4,514 related
    Deferred
    $0 + $31,770 related
    Nontaxable benefits
    $0 + $34,651 related
    Filer's total
    $0 + $431,197 related

  • John Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jay Welker

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Faye Williams Craddolph

    DIRECTOR (THRU 09/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sara Cosentino

    PRESIDENT

    Total calculated
    $441,508
    From this org
    $0
    From related orgs
    $356,844
    Other
    $84,664
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $316,766 related
    Bonus
    $0 + $39,000 related
    Other
    $0 + $1,078 related
    Deferred
    $0 + $31,700 related
    Nontaxable benefits
    $0 + $52,964 related
    Filer's total
    $0 + $441,508 related

  • Jeffrey Rohde

    SECRETARY

    Total calculated
    $480,568
    From this org
    $0
    From related orgs
    $401,813
    Other
    $78,755
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,094 related
    Bonus
    $0 + $52,000 related
    Other
    $0 + $719 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $45,755 related
    Filer's total
    $0 + $480,568 related

  • Susan Christopher

    VICE PRESIDENT (AS OF 07/23)

    Total calculated
    $197,997
    From this org
    $0
    From related orgs
    $187,130
    Other
    $10,867
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,773 related
    Bonus
    $0
    Other
    $0 + $357 related
    Deferred
    $0 + $8,171 related
    Nontaxable benefits
    $0 + $2,696 related
    Filer's total
    $0 + $197,997 related

  • Faye Holton

    TREASURER

    Total calculated
    $293,041
    From this org
    $0
    From related orgs
    $248,721
    Other
    $44,320
    Hours/week
    5 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,315 related
    Bonus
    $0 + $8,000 related
    Other
    $0 + $3,406 related
    Deferred
    $0 + $24,374 related
    Nontaxable benefits
    $0 + $19,946 related
    Filer's total
    $0 + $293,041 related

  • Diane Carter

    SENIOR TRUST OFFICER

    Total calculated
    $218,350
    From this org
    $0
    From related orgs
    $181,056
    Other
    $37,294
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,347 related
    Bonus
    $0
    Other
    $0 + $4,709 related
    Deferred
    $0 + $18,277 related
    Nontaxable benefits
    $0 + $19,017 related
    Filer's total
    $0 + $218,350 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 SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS ARE COMPENSATED BY PEPPERDINE UNIVERSITY. THE 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

No itemized grants to organizations 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 ENTERPRISES INC

    501(C)(3) · SUPPORT PEPPERDINE UNIVERSITY · CA

    Directly controlled by PEPPERDINE

  • PEPPERDINE UNIVERSITY (USA) IN LONDON

    EDUCATION · UK

    Directly controlled by PEPPERDINE

  • CINDERELLA IMMOBILIARE SRL

    EDUCATION · IT

    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 · 100% owned · share of assets $22,520,036 · controlled entity

    Directly controlled by WAVE SERVICES

  • CHARITABLE REMAINDER UNITRUSTS (2)

    T · INVESTING · CA

    Directly controlled by PEPPERDINE

  • CHARITABLE GIFT ANNUITIES (71)

    T · INVESTING · CA

    Directly controlled by PEPPERDINE

  • CHARITABLE REMAINDER UNITRUSTS (66)

    T · INVESTING · CA · controlled entity

    Directly controlled by WAVE SERVICES

  • CHARITABLE REMAINDER ANNUITY TRUSTS (1)

    T · INVESTING · CA · controlled entity

    Directly controlled by WAVE SERVICES

  • NET INCOME WITH MAKEUP CHARITABLE REMAINDER UNITRUST (4)

    T · INVESTING · CA · controlled entity

    Directly controlled by WAVE SERVICES

Provenance

Return type
form_990
Tax year
2023
Filed
5 June 2025
IRS schema version
2023v6.0
Source object
202531569349300538

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