Making Waves Academy
Making Waves Academy reported $28.0 million in revenue and $28.1 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $93.56 went to program services, $6.44 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 98.6% of the total. Government grants made up 71.3%. The highest compensation it reported for one person was $428,427 (CHIEF EXECUTIVE OFFICER). 35 people received more than $100,000 in reportable compensation. Revenue rose 22% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $28MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $28MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 93.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 6.4% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 98.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 71.3% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $428,427 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.52% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 35 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 4.1 | 13.3 |
| Independent voting board members Part VI 1a–1b | 7 of 7 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF EXECUTIVE OFFICER Officer, 40.00 hrs/week | $339,071 | $0 | $89,356 | $428,427 |
| CHIEF OPERATING OFFICER Key employee, 40.00 hrs/week | $212,880 | $0 | $34,307 | $247,187 |
| PRINCIPAL Highest compensated employee, 40.00 hrs/week | $201,586 | $0 | $41,414 | $243,000 |
| CHIEF TECHNOLOGY OFFICER Key employee, 40.00 hrs/week | $206,713 | $0 | $35,560 | $242,273 |
| DIRECTOR OF FINANCE THROUGH 6/25 Officer, 40.00 hrs/week | $159,234 | $0 | $26,366 | $185,600 |
| DIRECTOR OF CAMPUS OPERATIONS Highest compensated employee, 40.00 hrs/week | $152,509 | $0 | $28,695 | $181,204 |
| IT DIRECTOR Highest compensated employee, 40.00 hrs/week | $155,306 | $0 | $14,537 | $169,843 |
| DIR. OF COLLEGE & CAREER COUNSELING Highest compensated employee, 40.00 hrs/week | $118,805 | $0 | $44,283 | $163,088 |
35 people received more than $100,000 in reportable compensation from Making Waves Academy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b7 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5221
- Volunteers Part I, line 620
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| PACHECO'S CLEANING SERVICES Janitorial services | $683,642 |
| SWING EDUCATION INC Teacher substitutes | $537,988 |
| LINDE GROUP It services | $447,207 |
| SCOOT EDUCATION INC Teacher substitutes | $397,759 |
| SENECA FAMILY OF AGENCIES Special education | $321,334 |
Individuals listed as contractors are left out. 13 contractors were paid more than $100,000 in all.
Private foundation grants it received
4 private foundations reported grants to Making Waves Academy totaling $171K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Making Waves Academy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Making Waves Academy, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Making Waves Academy spent in FY2025, $93.56 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Tallulah Falls SchoolTallulah Falls, GA · revenue $28M · programs 69.9% · FY2025
- Harlem Children's Zone Promise Academy Charter SchoolNew York, NY · revenue $28M · programs 94.5% · FY2025
- Cardinal Services Inc. of IndianaWarsaw, IN · revenue $28M · programs 87.9% · FY2024
- Synergy AcademiesLos Angeles, CA · revenue $28M · programs 89.2% · FY2025
- Fielding Graduate UniversitySanta Barbara, CA · revenue $28M · programs 64.4% · FY2025
Questions people ask
How much of Making Waves Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Making Waves Academy reported that 93.6% of its $28.1 million in expenses went to program services, 6.4% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Making Waves Academy pay its top executive?
The largest total compensation Making Waves Academy reported for one person in the fiscal year ending June 30, 2025 was $428,427, for the role of CHIEF EXECUTIVE OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Making Waves Academy get its money?
Of $28.0 million in revenue in the fiscal year ending June 30, 2025, 98.6% came from contributions and grants (including 71.3% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is Making Waves Academy a registered charity?
The IRS lists EIN 20-8967421 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202621319349304367 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531339349308473 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202440899349301209 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202320799349301122 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202240789349300304 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202120849349301712 · read the filing
All filings for EIN 20-8967421: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.