WAVE OF HARMONY FOUNDATION

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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

2023

Legal Domicile

Principal Officer

Barry Kawakami

Phone

8082982143

Tax Period

2024-08-01 to 2025-07-31

WAVE OF HARMONY FOUNDATION, founded in 2023, is a small nonprofit in the Arts, Culture & Humanities sector that reported $374K in total revenue in fiscal year 2024. Revenue surged 173% from the prior year, signaling strong growth momentum. The organization ran a surplus of $172K, a strong 46% operating margin.

Mission

Wave of Harmony transforms lives through the performing arts by empowering Maui's youth, supporting community engagement, and creating opportunities for young artists. We invest in the next generation of storytellers and leaders, fostering cultural expression and unity through performance.

Program Service Accomplishments

Program 1

Expenses: $161,788 Revenue: $218,607

Wave of Harmony continued its work to make performing arts accessible and impactful for youth across Maui. The organization supported youth theater camps, sponsored local performances, and provided scholarships to help young people participate in arts education. It also offered programs that used the arts as a tool for healing in the community and collaborated with schools and local groups to expand access to theater resources and experiences.

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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 $285,607

Program Service Revenue $51,060

Investment Income $1,722

Other Revenue $35,452

TOTAL REVENUE $373,841

Expense Breakdown

Grants Paid $19,671

Salaries & Benefits $0

Fundraising Expenses $10,050

Program Expenses $161,788

Other Expenses $182,462

TOTAL EXPENSES $202,133

Year-over-Year Comparison

	2024	2023	Change
Revenue	$373,841	$136,924	+1.7%
Expenses	$202,133	$113,796	+0.8%
Net Income	$171,708	$23,128	+6.4%

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

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
Keola Whittaker	Secretary	1.00	Officer Director	$0	$0	$0
Cody Pata	Vice President	1.00	Officer Director	$0	$0	$0
Charen Kepler	Board Member	1.00	Director	$0	$0	$0
Barry Kawakami	President	30.00	Officer Director	$0	$0	$0
Christina Kailiponi	Board Member	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	$373,841	$202,133	$195,614	$171,708