Eight Waves Corporation (EIN 861624826) - 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

2019

Legal Domicile

Principal Officer

Scott Spragg

Tax Period

2024-01-01 to 2024-12-31

Eight Waves Corporation, founded in 2019, is a small nonprofit in the Education sector that reported $608K in total revenue in fiscal year 2024. Revenue surged 64% from the prior year, signaling strong growth momentum. Expenses of $518K left a modest 15% surplus.

Mission

Eight Waves supports and advocates for vulnerable at-risk children, schools, and families in under-resourced communities.

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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 $483,866

Program Service Revenue $0

Investment Income $0

Other Revenue $124,532

TOTAL REVENUE $608,398

Expense Breakdown

Grants Paid $0

Salaries & Benefits $187,331

Fundraising Expenses $89,482

Program Expenses $318,959

Other Expenses $330,214

TOTAL EXPENSES $517,545

Year-over-Year Comparison

	2024	2023	Change
Revenue	$608,398	$370,702	+0.6%
Expenses	$517,545	$358,925	+0.4%
Net Income	$90,853	$11,777	+6.7%

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

100

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
Scott Spragg	Chairman	4.00	Officer Director	$0	$0	$0
Margaret Price	Vice President	2.00	Officer Director	$0	$0	$0
Erika Feazell	Secretary	2.00	Officer Director	$0	$0	$0
Chris Dickens	Treasurer	2.00	Officer Director	$0	$0	$0
Juana De La Cruz	Director	1.00	Director	$0	$0	$0
Meredith Rosser	Director	1.00	Director	$0	$0	$0
Sean LaGasse	Director	1.00	Director	$0	$0	$0
Austin Arthur	Director	1.00	Director	$0	$0	$0
Belynda Pinto	Director	1.00	Director	$0	$0	$0
Jason Simmes	Director	1.00	Director	$0	$0	$0
Joseph Khayat	Director	1.00	Director	$0	$0	$0
Brian Kittle	Director	1.00	Director	$0	$0	$0
Ray Holden	Director	1.00	Director	$0	$0	$0
Dave Buckles	Director	1.00	Director	$0	$0	$0
Lee Steinhauer	Director	1.00	Director	$0	$0	$0
Christina Hale	Director	1.00	Director	$0	$0	$0
Stacy Sewell	Director	1.00	Director	$0	$0	$0
Frankie Liz	Director	1.00	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	No data	No data	No data	No data
2024	$608,398	$517,545	$287,381	$90,853
2023	$370,702	$358,925	$143,390	$11,777
2022	$146,820	$59,217	$89,345	$87,603
2021	$2,032	$962	$1,070	$1,070

Eight Waves Corporation