ISLAND WAVES INC

EIN: 113612488 501(c)(3) Recreation & Sports

HUNTINGTON, NY

Total Revenue
$371,784
Total Expenses
$362,276
Total Assets
$12,989
Net Assets
$12,989
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2001
Principal Officer
RICHARD RIGHI
Phone
6314878567
Tax Period
2024-05-01 to 2025-04-30

ISLAND WAVES INC, founded in 2001, is a small nonprofit in the Recreation & Sports sector that reported $372K in total revenue in fiscal year 2024. Revenue surged 102% from the prior year, signaling strong growth momentum.

Mission

AMATEUR GIRLS ICE HOCKEY ORGANIZATION

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $371,784
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $371,784

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $362,276
Other Expenses $362,276
TOTAL EXPENSES $362,276

Year-over-Year Comparison

2024 2023 Change
Revenue $371,784 $183,606 +1.0%
Expenses $362,276 $189,770 +0.9%
Net Income $9,508 $-6,164 -2.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
2
Independent Members
2
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD RIGHI PRESIDENT 12.00
Officer
$0 $0 $0
JOHN ZERILLO VICE PRESIDE 12.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $371,784 $362,276 $12,989 $9,508
2024 $183,606 $189,770 $3,481 $-6,164
2023 $162,066 $156,819 $9,645 $5,247
2022 $108,377 $100,658 $4,398 $7,719
2021 $86,400 $79,550 $-3,321 $6,850
2020 $185,080 $197,490 $-10,171 $-12,410
2019 $244,956 $243,966 $2,239 $990
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