Sharks Foundation
- Assets
- $668.3k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- San Jose, CA
- Founding
- 01/2017
- Data as of
- 06/2022
- EIN
- 77-0374062
Organization Overview
Sharks Foundation is located in San Jose, CA. The organization was established in 2017. According to its NTEE Classification (O12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sharks Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Sharks Foundation generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SHARKS FOUNDATION IS DEDICATED TO ENHANCING THE LIVES OF UNDERSERVED YOUTH AND FAMILIES WITH AN EMPHASIS IN THE AREAS OF EDUCATION, HEALTH & SAFETY, AND CHARACTER BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ASSIST GRANTS - THE SHARKS FOUNDATION'S EXPANDED GIVING CAMPAIGN FOCUSED ON A NUMBER OF CAUSES THROUGHOUT 2021-22. SPANNING FROM SEPTEMBER 2021 TO JUNE 2022, THE CAMPAIGN FEATURED KEY ACTIVATIONS AND INCLUDED SUPPORT FROM SHARKS FANS, PLAYERS, COACHES, ALUMNI, BROADCASTERS, EXECUTIVES, CORPORATE PARTNERS, EMPLOYEES, VOLUNTEERS AND S.J. SHARKIES.
BEGINNING IN THE 2020-21 SEASON, THE FOUNDATION AND SAP PARTNERED ON A MULTI-YEAR COMMITMENT TO NON-PROFIT CITYTEAM TO FUND AND LAUNCH THE ALAMEDA COUNTY MOBILE FOOD PANTRY EXPANSION PROJECT. THE PROJECT, AN EXTENSION OF CITYTEAM'S CURRENT MODEL THAT ESTABLISHES FOOD DISTRIBUTION LOCATIONS IN UNDERSERVED NEIGHBORHOODS THROUGHOUT SANTA CLARA COUNTY, WILL STRATEGICALLY SELECT 18 DIFFERENT SITES ACROSS ALAMEDA COUNTY TO PROVIDE DISADVANTAGED COMMUNITY MEMBERS WITH FRESH AND ACCESSIBLE GROCERIES ON A BI-MONTHLY BASIS.
IN RESPONSE TO THE WAR IN UKRAINE, THE FOUNDATION DEDICATED $100,000 TO SUPPORT THE UNICEF USA'S HUMANITARIAN WORK AND RELIEF EFFORTS FOR THE COUNTRY'S MOST VULNERABLE CITIZENS. UNICEF'S IMMEDIATE FOCUS WAS ON MEETING THE URGENT NEEDS OF SAFETY HEALTH CARE, PROTECTION, WATER AND NUTRITION, AND SAFEGUARDING CHILDRENS' RIGHTS AND LONG-TERM WELL-BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Bentz President | OfficerTrustee | 1 | $0 |
Ken Caveney Officer | OfficerTrustee | 1 | $0 |
Mary Grace Miller Seretary | OfficerTrustee | 1 | $0 |
Doug Wilson Honorary Board Member | Trustee | 1 | $0 |
Cara Browning Board Member | Trustee | 1 | $0 |
Richard Rocha Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $264,090 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $851,481 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,115,571 |
| Total Program Service Revenue | $84,780 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $98,921 |
| Net Income from Sales of Inventory | $22,905 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,322,204 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $906,327 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $344,359 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,242 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,607 |
| Total functional expenses | $1,304,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $596,057 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,219 |
| Total assets | $668,276 |
| Accounts payable and accrued expenses | $185,020 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $185,020 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $483,256 |
| Total liabilities and net assets/fund balances | $668,276 |