WAVES OF WILMINGTON INC (EIN 561324588) - Form 990 Financial Analysis & Trantor Score

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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

1990

Legal Domicile

Principal Officer

Brianne Higgins

Phone

9294349356

Tax Period

2024-09-01 to 2025-08-31

WAVES OF WILMINGTON INC, founded in 1990, is a small nonprofit in the Unknown sector that reported $365K in total revenue in fiscal year 2024. Revenue surged 76% from the prior year, signaling strong growth momentum. Expenses of $408K exceeded revenue, resulting in a 12% operating deficit.

Mission

Teach youth swimming techniques. Attend swim meets both local and nationally.

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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 $2,317

Program Service Revenue $354,690

Investment Income $8,209

Other Revenue $0

TOTAL REVENUE $365,216

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $226,833

Fundraising Expenses $0

Program Expenses $408,222

Other Expenses $175,389

TOTAL EXPENSES $408,222

Year-over-Year Comparison

	2024	2023	Change
Revenue	$365,216	$207,241	+0.8%
Expenses	$408,222	$210,031	+0.9%
Net Income	$-43,006	$-2,790	+14.4%

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

Volunteers

150

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

$89,187

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David A Sokolofsky	CEO - Head Coach	40	Officer Highest	$89,187	$0	$89,187
Elizabeth Claus	Member at Large	1	Director	$0	$0	$0
Carrie Bollenbacher	Vice President	10	Director	$0	$0	$0
Eddie Carroll	Member At Large	2	Director	$0	$0	$0
Karen House	Volunteer Coordinator	5	Director	$0	$0	$0
Marcus King	Member at Large	1	Director	$0	$0	$0
Emily Reiniche	Secretary	1	Director	$0	$0	$0
John Jewell	Member at Large	1	Director	$0	$0	$0
Jennifer Hughes	President	5	Director	$0	$0	$0
Bridget Phillips	Member At Large	1	Director	$0	$0	$0
Brianne Higgins	Treasurer	15	Director	$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	$365,216	$408,222	$386,732	$-43,006
2024	$207,241	$210,031	$414,730	$-2,790
2023	$227,298	$246,435	$431,198	$-19,137
2022	$263,977	$222,209	$470,320	$41,768
2021	$218,702	$208,467	$437,070	$10,235
2018	$218,182	$219,125	$357,027	$-943

WAVES OF WILMINGTON INC