ISLAND WAVES INC

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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

Program Service Accomplishments

Program 1

Expenses: $362,276

ORGANIZED AND CONDUCTED COMPETITIVE HOCKEY FOR GIRLS AGES 19 YEARS AND YOUNGER. APPROXIMATELY 85 MEMBERS IN THE 2024-2025 YEAR END. PROVIDE AND COMMIT TO PROMOTING GIRLS ATHLETIC, SOCIAL AND PERSONAL DEVELOPMENT THROUGH SPORTS. ENHANCE SPORTSMANSHIP, LEADERSHIP AND TEAMWORK SKILLS. THE ORGANIZATION RENTED APPROXIMATELY 485 HOURS OF ICE TIME TO HELP WITH THIS ACCOMPLISHMENT.

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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%)

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

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