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Nonprofiteer
← WAVE ENTERPRISES INC

Form 990 for tax year 2023

Filed by WAVE ENTERPRISES INC.

Totals

Total revenue
$30,717
Total expenses
$410,736
Contributions and grants received
$0
Grants paid
$7,953
Program service revenue
$0
Investment income
$156,739
Other revenue
-$126,022
Total assets, end of year
$22,459,235
Total liabilities, end of year
$10,883,043
Net assets or fund balances, end of year
$11,576,192
Program services expenses (Part IX)
$7,953
Management and general expenses
$402,783
Fundraising expenses
$0
Program service expenses (Part III)
$7,953

Program services were 1.9% 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 $68,778 · excluded $68,778

  • 6a · Gross rents

    real property $57,137

  • 6b · Less rental expenses

    real property $183,159

  • 6c · Rental income or loss

    real property -$126,022

  • 6d · Net rental income or loss

    total -$126,022 · excluded -$126,022

  • 7a · Gross sales of assets other than inventory

    other assets $87,961

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

    other assets $0

  • 7c · Gain or loss

    other assets $87,961

  • 7d · Net gain or loss

    total $87,961 · excluded $87,961

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,953 · program services $7,953

  • 11b · Fees: legal

    total $9,391 · management and general $9,391

  • 11c · Fees: accounting

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

  • 11g · Fees: other

    total $6,206 · management and general $6,206

  • 16 · Occupancy

    total $246,760 · management and general $246,760

  • 20 · Interest

    total $50,169 · management and general $50,169

  • 22 · Depreciation, depletion and amortization

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

  • 23 · Insurance

    total $24,492 · management and general $24,492

  • 24a · Other expenses: EQUIPMENT RENTAL & MAIN

    total $33,037 · management and general $33,037

  • 24b · Other expenses: OTHER EXPENSES

    total $235 · management and general $235

  • 24c · 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 $713,156

  • 4 · Accounts receivable

    end of year $300,526

  • 7 · Other notes and loans receivable

    beginning of year $1,118,263 · end of year $1,087,559

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,180

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

    $21,513,145

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

    $559,821

  • 10c · Land, buildings and equipment, net

    beginning of year $20,410,267 · end of year $20,953,324

  • 12 · Investments: other securities

    beginning of year $115,890 · end of year $117,826

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,937,157 · end of year $5,266,662

  • 25 · Other liabilities

    beginning of year $6,152,524 · end of year $5,616,381

  • 27 · Net assets without donor restrictions

    beginning of year $11,307,304 · end of year $11,610,421

  • 28 · Net assets with donor restrictions

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

Mission and programs · 2023

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 $7,953 · Grants $7,953

As filed on the 2023 return.

Listed in Part VII

  • 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

  • JAMES GASH

    DIRECTOR

    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

  • DEE ANNA SMITH

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NICOLLE TAYLOR

    PRESIDENT

    Total calculated
    $406,306
    From this org
    $0
    From related orgs
    $356,640
    Other
    $49,666
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,343 related
    Bonus
    $0 + $48,000 related
    Other
    $0 + $1,297 related
    Deferred
    $0 + $31,207 related
    Nontaxable benefits
    $0 + $18,459 related
    Filer's total
    $0 + $406,306 related

  • JEFFREY ROHDE

    VICE PRESIDENT

    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

  • FAYE HOLTON

    SECRETARY

    Total calculated
    $293,041
    From this org
    $0
    From related orgs
    $248,721
    Other
    $44,320
    Hours/week
    1 + 40 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

  • GREG RAMIREZ

    CHIEF FINANCIAL OFFICER/TREASURER

    Total calculated
    $420,821
    From this org
    $0
    From related orgs
    $383,929
    Other
    $36,892
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,217 related
    Bonus
    $0 + $51,000 related
    Other
    $0 + $712 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $3,892 related
    Filer's total
    $0 + $420,821 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.

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.

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 (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

    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

Provenance

Return type
form_990
Tax year
2023
Filed
5 June 2025
IRS schema version
2023v6.0
Source object
202511569349301376

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