Sharefest Community Development INC FY2024 filing

Tax-deductible

San Pedro, CA501(c)(3)Since 2006Human ServicesEIN 20-5651596Revenue $1.8M in FY2024

On file with the IRSsharefestinc.org638 S Beacon Street Suite 700, 90731-3331 · San Pedro, CATax-exempt since Jul 2007Publicly supported charity — 170(b)(1)(A)(vi)

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Sharefest equips youth facing significant barriers to achieve economic success.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$443K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $416K a year · 21% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$443K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$136K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
-18% vs prior year
Spent
$2.1M
To programs
82%
Net assets
$2.9M
By yearFY2020–FY2025
Revenue
$1.8M
FY2024▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$2.1M
FY2023$2.2M
FY2024$1.8M
FY2025$2.9M
Expenses
$2.1M
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$763K
FY2021$1.1M
FY2022$1.6M
FY2023$1.9M
FY2024$2.1M
FY2025$2.2M
Net assets
$2.9M
FY2024▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$2.3M
FY2022$2.8M
FY2023$3.1M
FY2024$2.9M
FY2025$3.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.7M Management & general 6% · $130K Fundraising 11% · $232K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $443K paid to officers and key staff.

Part VII, Section A · reportable compensation
$194,213Pt VII · Sec A
VP of Programs
$142,480Pt VII · Sec A
VP of Finance & Operations
$106,452Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Chadwick R Mayer’s $193K as President is at the 88th percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Chadwick R Mayer$192,938$194,213$183,750$175,000$140,000$143,000
Gretchen Downey$144,703$142,480$137,813$131,250$125,000—
Betsy Chou$105,000$106,452————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowering youth to transform futures and lead collaborative change.

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Provided by the organization

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2 programs · $1.7M · in their own filed words · FY2024
01

Sharefest's Career Connections serves 500+ students in LAUSD Continuation and Charter Option High Schools with courses encompassing Socio-Emotional Learning, Purpose Education, Professional Development, College/Career Access, Entrepreneurship, Financial Literacy and Service Learning.

$1.3Mprogram expense
02

Sharefest's Corporate Services program organizes community service projects for local corporations who provide volunteers, community awareness and funding. Projects include the improvement and beautification of schools, parks and other public spaces.

$388Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$99K
Investment incomeLn 3$93K
Money outPt IX
$2.1M
Ln 25
Programscol B$1.7M
Managementcol C$130K
Fundraisingcol D$232K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$3.0M
LiabilitiesLn 26$136K
PeoplePt VI, VII
16
listed · VII A
PaidVII A3
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$275K
Noncash giftsLn 1g$28K
Fundraising eventsLn 1c$77K
Investment incomeLn 3$93K
Other incomeLn 4–11$99K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$896K
SavingsLn 2$963K
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$479K
Land, buildings, equipmentLn 10c$620K
Total assetsLn 16$3.0M
LiabilitiesLn 26$136K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 527
VolunteersI 6280
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.9M$1.9M
InvestmentsLn 11–13$438K$479K
Land, buildings, equipmentLn 10c$664K$620K
Total assetsLn 16$3.2M$3.0M
LiabilitiesLn 26$80K$136K
Net assetsLn 32$3.1M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$443K$359K$25K$60K
Other salaries and wagesLn 7$822K$665K$46K$111K
Pension plan contributionsLn 8$28K$23K$2K$3K
Other employee benefitsLn 9$76K$63K$5K$8K
Payroll taxesLn 10$98K$82K$6K$10K
Accounting feesLn 11c$25K$21K$2K$2K
Office expensesLn 13$11K$164$9K$2K
TravelLn 17$28K$27K$125$511
Conferences, conventions and meetingsLn 19$15K$6K$3K$6K
Depreciation, depletion and amortizationLn 22$43K$43K
InsuranceLn 23$30K$29K$686
Other expenses (24a–d)Ln 24$429K$380K$25K$24K
All other expensesLn 24e$18K$7K$5K$6K
Total functional expensesLn 25$2.1M$1.7M$130K$232K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.9M$2.2M$706K$3.6M 990 PDF
FY2024 Viewing $1.8M$2.1M−$240K$2.9M 990 PDF
FY2023 $2.2M$1.9M$328K$3.1M 990 PDF
FY2022 $2.1M$1.6M$472K$2.8M 990 PDF
FY2021 $1.7M$1.1M$641K$2.3M 990 PDF
FY2020 $1.4M$763K$589K$1.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,827,176 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,981,449$1,634,835
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $58,236$92,962
I-11 Other revenuePrior year $177,113$99,379
I-12 Total revenuePrior year $2,216,798$1,827,176
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,218,498$1,467,100
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $670,627$600,308
I-18 Total expensesPrior year $1,889,125$2,067,408
I-19 Revenue less expensesPrior year $327,673−$240,232
Part VI · Governance 13 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,827,176 across 8 lines filed
VIII-1c Fundraising events$76,593
VIII-1e Government grants$274,514
VIII-1f All other contributions, gifts and grants$1,283,728
VIII-1g Noncash contributions (included above)$27,787
VIII-1h Total contributions, gifts and grants$1,634,835
VIII-3 Investment incomeExcluded from tax $92,962$92,962
VIII-8 Net income from fundraising eventsExcluded from tax $99,379$99,379
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $192,341$1,827,176
Part IX · Statement of functional expenses $2,067,408 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $358,586 · Management $24,856 · Fundraising $59,703$443,145
IX-7 Other salaries and wagesPrograms $665,232 · Management $46,111 · Fundraising $110,757$822,100
IX-8 Pension plan contributionsPrograms $23,467 · Management $1,730 · Fundraising $3,012$28,209
IX-9 Other employee benefitsPrograms $62,929 · Management $4,639 · Fundraising $8,076$75,644
IX-10 Payroll taxesPrograms $81,528 · Management $6,011 · Fundraising $10,463$98,002
IX-11c Accounting feesPrograms $20,770 · Management $2,075 · Fundraising $2,075$24,920
IX-13 Office expensesPrograms $164 · Management $9,427 · Fundraising $1,691$11,282
IX-17 TravelPrograms $27,475 · Management $125 · Fundraising $511$28,111
IX-19 Conferences, conventions and meetingsPrograms $5,815 · Management $3,458 · Fundraising $6,032$15,305
IX-22 Depreciation, depletion and amortizationPrograms $43,412$43,412
IX-23 InsurancePrograms $28,866 · Management $686$29,552
IX-24 Other expenses (24a–d)Programs $379,753 · Management $25,377 · Fundraising $24,296$429,426
IX-24e All other expensesPrograms $7,198 · Management $5,441 · Fundraising $5,661$18,300
IX-25 Total functional expensesPrograms $1,705,195 · Management $129,936 · Fundraising $232,277$2,067,408
Part X · Balance sheet $2,986,769 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $857,479$895,699
X-2 Savings and temporary cash investmentsStart of year $1,008,248$963,466
X-3 Pledges and grants receivableStart of year $203,265$28,486
X-10c Land, buildings and equipment, netStart of year $663,685$620,273
X-12 Other securitiesStart of year $437,816$478,845
X-16 Total assetsStart of year $3,170,493$2,986,769
X-17 Accounts payable and accrued expensesStart of year $79,625$136,133
X-26 Total liabilitiesStart of year $79,625$136,133
X-27 Net assets without donor restrictionsStart of year $2,965,868$2,767,936
X-28 Net assets with donor restrictionsStart of year $125,000$82,700
X-32 Total net assets or fund balancesStart of year $3,090,868$2,850,636
X-33 Total liabilities and net assetsStart of year $3,170,493$2,986,769
Part XI · Reconciliation of net assets $2,850,636 net assets at year end
XI-1 Total revenue$1,827,176
XI-2 Total expenses$2,067,408
XI-3 Revenue less expenses−$240,232
XI-4 Net assets at start of year$3,090,868
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,850,636

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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