WAVE FARM 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

2002

Legal Domicile

Principal Officer

GALEN JOSEPH-HUNTER

Phone

5186222598

Tax Period

2024-01-01 to 2024-12-31

WAVE FARM INC, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $939K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $903K left a modest 4% surplus.

Mission

WAVE FARM IS AN INTERNATIONAL TRANSMISSION ARTS ORGANIZATION DRIVEN BY EXPERIMENTATION WITH THE ELECTROMAGNETIC SPECTRUM. WE CULTIVATE CREATIVE PRACTICES IN RADIO AND SUPPORT ARTISTS AND NONPROFIT ORGANIZATIONS IN THEIR CULTURAL ENDEAVORS.

Program Service Accomplishments

Program 1

Expenses: $337,052

ARTS ORGANIZATION FOCUSED ON ESTABLISHING AND CULTIVATING THE GENRE TRANSMISSION ARTS. THIS GENRE ENCOMPASSES A DIVERSITY OF PRACTICES AND MEDIA WORKING WITH THE IDEA OF TRANSMISSION OR THE PHYSICAL PROPERTIES OF THE ELECTROMAGNETIC SPECTRUM. TRANSMISSION ART IS GENERALLY A PARTICIPATORY LIVE-ART OR TIME-BASED ART, AND OFTEN MANIFESTS AS RADIO ART, VIDEO ART, INSTALLATION AND PERFORMANCE.

Program 2

Expenses: $532,462

NEW YORK STATE COUNCIL ON THE ARTS REGRANT PROGRAM

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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 $857,871

Program Service Revenue $54,234

Investment Income $23,309

Other Revenue $4,061

TOTAL REVENUE $939,475

Expense Breakdown

Grants Paid $0

Salaries & Benefits $257,244

Fundraising Expenses $11,142

Program Expenses $869,514

Other Expenses $645,501

TOTAL EXPENSES $902,745

Year-over-Year Comparison

	2024	2023	Change
Revenue	$939,475	$1,067,163	-0.1%
Expenses	$902,745	$885,452	+0.0%
Net Income	$36,730	$181,711	-0.8%

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

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
ILIYA FRIDMAN	DIRECTOR	2.00	Director	$0	$0	$0
YVETTE JANINE JACKSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
LAURA KUHN	TREASURER	2.00	Officer Director	$0	$0	$0
ELIEL MAMOUSETTE	VP	2.00	Officer Director	$0	$0	$0
HEIDI NEILSON	DIRECTOR	2.00	Director	$0	$0	$0
LIAM SINGER	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER WAITS	SECRETARY	2.00	Officer Director	$0	$0	$0
GALEN JOSEPH-HUNTER	EX DIR/EX-OF	40.00	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	No data	No data	No data	No data
2024	$939,475	$902,745	$1,210,458	$36,730
2023	$1,067,163	$885,452	$1,189,861	$181,711
2022	$958,714	$840,676	$1,074,255	$118,038
2021	$836,950	$726,252	$1,255,039	$110,698
2020	$451,467	$403,704	$896,736	$47,763
2019	$440,106	$445,272	$803,023	$-5,166