Thousand Waves Foundation

Chicago, IL
Tax-exempt since May 2002
EIN: 36-4471839

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Education N.E.C. (NTEE)

Donations to this organization are tax deductible.

Revenue

$485k (2024)

Expenses

$468k (2024)

Total Assets

$538k (2024)

Total Liabilities

$110k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$484,789

Expenses

$467,792

Net Income

$16,997

Net Assets

$428,540

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,321	5.8%
Program Services	$342,683	70.7%
Investment Income	$1,946	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$104,020	21.5%
Sales of Assets	$0
Net Inventory Sales	$108	0.0%
Other Revenue	$7,711	1.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$76,573	16.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$154,188	33.0%

Assets/Debt
Total Assets	$538,041
Total Liabilities	$109,501
Net Assets	$428,540

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$76,573	$0	$0
Peggy Scanlan (Chair)	$0	$0	$0
Mark Hubert (Treasurer)	$0	$0	$0
Alice Hollowed (Secretary)	$0	$0	$0
Lisa May Simpson (Director)	$0	$0	$0
Abby Rodgers (Director)	$0	$0	$0
Betsy Pancik (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Heather Erickson (Director)	$0	$0	$0
Selene Stewart (Director)	$0	$0	$0
Elsie Lejano (Director)	$0	$0	$0

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990

Filed on Oct. 28, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$460,802

Expenses

$427,811

Net Income

$32,991

Net Assets

$411,543

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,258	6.1%
Program Services	$328,619	71.3%
Investment Income	$32	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$103,835	22.5%
Sales of Assets	$0
Net Inventory Sales	$58	0.0%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$68,932	16.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$136,085	31.8%

Assets/Debt
Total Assets	$619,638
Total Liabilities	$208,095
Net Assets	$411,543

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$68,933	$0	$0
Betsy Pancik (Chair)	$0	$0	$0
Mark Hubert (Secretary/Tr)	$0	$0	$0
Lisa May Simpson (Director)	$0	$0	$0
Abby Rodgers (Director)	$0	$0	$0
Peggy Scanlan (Director)	$0	$0	$0
Alice Hollowed (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Heather Erickson (Director)	$0	$0	$0
Selene Stewart (Director)	$0	$0	$0

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990

Filed on Aug. 30, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$415,751

Expenses

$449,651

Net Income

-$33,900

Net Assets

$378,552

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$29,419	7.1%
Program Services	$296,948	71.4%
Investment Income	$26	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$84,127	20.2%
Sales of Assets	$0
Net Inventory Sales	$5,231	1.3%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$66,416	14.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$142,788	31.8%

Assets/Debt
Total Assets	$402,204
Total Liabilities	$23,652
Net Assets	$378,552

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$66,416	$0	$0
Lisa May Simpson (Chair)	$0	$0	$0
Betsy Pancik (Treasurer)	$0	$0	$0
Mark Hubert (Secretary)	$0	$0	$0
Jeffrey Stone (Director)	$0	$0	$0
Justine Houseman (Director)	$0	$0	$0
Alice Hollowed (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Heather Erickson (Director)	$0	$0	$0

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990

Filed on Aug. 17, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$465,058

Expenses

$412,705

Net Income

$52,353

Net Assets

$412,452

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$103,268	22.2%
Program Services	$274,671	59.1%
Investment Income	$37	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$83,943	18.1%
Sales of Assets	$0
Net Inventory Sales	$3,139	0.7%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$58,262	14.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$142,269	34.5%

Assets/Debt
Total Assets	$435,145
Total Liabilities	$22,693
Net Assets	$412,452

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$58,262	$0	$0
Edward Flam (Treasurer)	$0	$0	$0
Todd Scales (Secretary)	$0	$0	$0
Lisa May Simpson (Chair)	$0	$0	$0
Jeffrey Stone (Director)	$0	$0	$0
Justine Houseman (Director)	$0	$0	$0
Mark Hubert (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Rick Toboz (Director)	$0	$0	$0
Heather Erickson (Director)	$0	$0	$0
Erickson Ocasio (Director)	$0	$0	$0
Betsy Pancik (Director)	$0	$0	$0

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990

Filed on Aug. 19, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$526,801

Expenses

$469,063

Net Income

$57,738

Net Assets

$360,099

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$119,854	22.8%
Program Services	$296,047	56.2%
Investment Income	$171	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$111,892	21.2%
Sales of Assets	$0
Net Inventory Sales	-$1,163
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$58,264	12.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$191,643	40.9%

Assets/Debt
Total Assets	$450,399
Total Liabilities	$90,300
Net Assets	$360,099

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$58,262	$0	$0
Todd Scales (Secretary)	$0	$0	$0
Edward Flam (Treasurer)	$0	$0	$0
Lisa May Simpson (Director)	$0	$0	$0
Heather Polewski (Director)	$0	$0	$0
Deirdra Baumstark (Director)	$0	$0	$0
Mark Hubert (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Rick Toboz (Director)	$0	$0	$0

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990

Filed on Nov. 10, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$558,969

Expenses

$644,682

Net Income

-$85,713

Net Assets

$302,361

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$98,605	17.6%
Program Services	$451,990	80.9%
Investment Income	$333	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$73	0.0%
Sales of Assets	$0
Net Inventory Sales	$7,608	1.4%
Other Revenue	$360	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$58,262	9.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$300,343	46.6%

Assets/Debt
Total Assets	$327,737
Total Liabilities	$25,376
Net Assets	$302,361

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$58,262	$0	$0
Mary Wei (Chair)	$0	$0	$0
Todd Scales (Secretary)	$0	$0	$0
Edward Flam (Treasurer)	$0	$0	$0
Lisa May Simpson (Director)	$0	$0	$0
Pamela Robert (Director)	$0	$0	$0
Deirdra Baumstark (Director)	$0	$0	$0
Mike Mazzeo (Director)	$0	$0	$0
Mark Hubert (Director)	$0	$0	$0
Marla Cohen (Director)	$0	$0	$0
Rick Toboz (Director)	$0	$0	$0
Heather Erickson (Director)	$0	$0	$0

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990

Filed on Sept. 3, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$771,595

Expenses

$789,558

Net Income

-$17,963

Net Assets

$388,074

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$113,146	14.7%
Program Services	$526,028	68.2%
Investment Income	$44	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$123,031	15.9%
Sales of Assets	$0
Net Inventory Sales	$8,547	1.1%
Other Revenue	$799	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$59,779	7.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$435,956	55.2%

Assets/Debt
Total Assets	$409,938
Total Liabilities	$21,864
Net Assets	$388,074

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$59,779	$0	$0
Lisa May Simpson (Director)	$0	$0	$0
Pamela Robert (Director)	$0	$0	$0
Deirdra Baumstark (Director)	$0	$0	$0
Edward Flam (Treasurer)	$0	$0	$0
Mike Mazzeo (Director)	$0	$0	$0
Todd Scales (Secretary)	$0	$0	$0
Audrey Cosgrove (Director)	$0	$0	$0
Mary Wei (Chair)	$0	$0	$0
Jane Kollmer (Director)	$0	$0	$0
Hope Robinson (Director)	$0	$0	$0
Debra Swan (Director)	$0	$0	$0

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990

Filed on Sept. 30, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$833,127

Expenses

$797,684

Net Income

$35,443

Net Assets

$406,037

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$82,010	9.8%
Program Services	$619,752	74.4%
Investment Income	$110	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$120,241	14.4%
Sales of Assets	$0
Net Inventory Sales	$10,897	1.3%
Other Revenue	$117	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$59,077	7.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$430,180	53.9%

Assets/Debt
Total Assets	$438,521
Total Liabilities	$32,484
Net Assets	$406,037

Compensation

Key Employees and Officers	Compensation	Related	Other
Ryan Libel (Executive Di)	$59,077	$0	$0
Shelley Fried (Director)	$0	$0	$0
Pamela Robert (Director)	$0	$0	$0
Deirdra Baumstark (Director)	$0	$0	$0
Edward Flam (Treasurer)	$0	$0	$0
Mike Mazzeo (Treasurer)	$0	$0	$0
Todd Scales (Secretary)	$0	$0	$0
Audrey Cosgrove (Director)	$0	$0	$0
Mary Wei (Chair)	$0	$0	$0
Jane Kollmer (Director)	$0	$0	$0
Hope Robinson (Director)	$0	$0	$0
Debra Swan (Director)	$0	$0	$0

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990

Filed on May 15, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$849,556

Expenses

$825,068

Net Income

$24,488

Net Assets

$370,594

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$106,681	12.6%
Program Services	$630,690	74.2%
Investment Income	$26	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$105,348	12.4%
Sales of Assets	$0
Net Inventory Sales	$6,571	0.8%
Other Revenue	$240	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$56,000	6.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$402,188	48.7%

Assets/Debt
Total Assets	$405,592
Total Liabilities	$34,998
Net Assets	$370,594

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Revenue

$812,540

Expenses

$779,149

Net Income

$33,391

Net Assets

$346,106

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$122,770	15.1%
Program Services	$606,803	74.7%
Investment Income	$223	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$68,797	8.5%
Sales of Assets	$0
Net Inventory Sales	$13,155	1.6%
Other Revenue	$792	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$87,258	11.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$332,950	42.7%

Assets/Debt
Total Assets	$399,656
Total Liabilities	$53,550
Net Assets	$346,106

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Revenue

$738,100

Expenses

$713,301

Net Income

$24,799

Net Assets

$312,715

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$124,603	16.9%
Program Services	$510,072	69.1%
Investment Income	$192	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$91,478	12.4%
Sales of Assets	$0
Net Inventory Sales	$10,585	1.4%
Other Revenue	$1,170	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$81,153	11.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$301,018	42.2%

Assets/Debt
Total Assets	$344,844
Total Liabilities	$32,129
Net Assets	$312,715

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$670,945

Expenses

$703,615

Net Income

-$32,670

Net Assets

$287,916

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$91,698	13.7%
Program Services	$460,987	68.7%
Investment Income	$289	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$107,158	16.0%
Sales of Assets	$0
Net Inventory Sales	$9,513	1.4%
Other Revenue	$1,300	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$87,071	12.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$312,367	44.4%

Assets/Debt
Total Assets	$312,208
Total Liabilities	$24,292
Net Assets	$287,916

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2012

Revenue

$704,573

Expenses

$687,695

Net Income

$16,878

Net Assets

$320,586

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$82,695	11.7%
Program Services	$498,777	70.8%
Investment Income	$298	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$107,855	15.3%
Sales of Assets	$0
Net Inventory Sales	$12,214	1.7%
Other Revenue	$2,734	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$102,722	14.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$279,707	40.7%

Assets/Debt
Total Assets	$351,794
Total Liabilities	$31,208
Net Assets	$320,586

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$675,617

Expenses

$689,499

Net Income

-$13,882

Net Assets

$303,708

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$50,342	7.5%
Program Services	$514,429	76.1%
Investment Income	$824	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$97,981	14.5%
Sales of Assets	$0
Net Inventory Sales	$11,190	1.7%
Other Revenue	$851	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$102,172	14.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$278,816	40.4%

Assets/Debt
Total Assets	$334,201
Total Liabilities	$30,493
Net Assets	$303,708

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Thousand Waves Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $485k (2024)

Expenses $468k (2024)

Total Assets $538k (2024)

Total Liabilities $110k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Revenue

$485k (2024)

Expenses

$468k (2024)

Total Assets

$538k (2024)

Total Liabilities

$110k (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002