The Sharks Foundation FY2022 filing

Tax-deductible

San Jose, CA501(c)(3)Since 1994Youth DevelopmentEIN 77-0374062Revenue $1.3M in FY2022

On file with the IRSnhl.com/sharks/sharksfoundation525 W Santa Clara St, 95113-1520 · San Jose, CATax-exempt since Jan 2017Publicly supported — 509(a)(2)

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501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 5
filings with a surplus
Average surplus $3K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $144K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$185K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+45% vs prior year
Spent
$1.3M
To programs
69%
Net assets
$483K
By yearFY2021–FY2025
Revenue
$1.3M
FY2022▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2021$911K
FY2022$1.3M
FY2023$1.6M
FY2024$1.4M
FY2025$1.7M
Expenses
$1.3M
FY2022▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2021$986K
FY2022$1.3M
FY2023$1.5M
FY2024$1.3M
FY2025$1.7M
Net assets
$483K
FY2022▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2021$466K
FY2022$483K
FY2023$508K
FY2024$587K
FY2025$847K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Jan 2017.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $906K Management & general 31% · $398K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Honorary Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Kevin Brown’s $111K as Executive Director is at the 37th percentile of top reported officer pay among 1552 $1–10M youth development 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 · 2 named individuals · Part VII

NameFY2025FY2023
Kevin Brown$110,642—
Heather Hooper—$107,646

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.

See The Sharks Foundation executive salaries →

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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 2Yes

Programs and updates

Funds tech training for underserved young adults and military veterans to launch digital careers.

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Provided by the organization

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3 programs · $906K · in their own filed words · FY2021
01

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.

$648Kprogram expense
02

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.

$159Kprogram expense
03

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…

$100Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 88 grants · $4.2M · 2020–2024
Braven IncorporatedIL · FY2024$115,000
Npower INCNY · FY2024$115,000
The Peninsula College FundCA · FY2024$115,000
Sharks Alumni FoundationCA · FY2024$63,433
NarikaCA · FY2024$30,000
Local ColorCA · FY2024$30,000
Bill Wilson CenterCA · FY2024$30,000
Kids & Art FoundationCA · FY2024$30,000
Access Books Bay AreaCA · FY2024$29,715
Scientific AdventuresCA · FY2024$29,715
Save the BayCA · FY2024$29,715
Okizu FoundationCA · FY2024$29,715
George Mark Childrens FundCA · FY2024$29,715
See all 88 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.1M
Other incomeLn 4–11$122K
Fees for servicesLn 2g$85K
Money outPt IX
$1.3M
Ln 25
Programscol B$906K
Managementcol C$398K
Owns and owesPt X
$483K
net assets · Ln 32
Cash and savingsLn 1–2$596K
Total assetsLn 16$668K
LiabilitiesLn 26$185K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$85K
Investment incomeLn 3$27
Other incomeLn 4–11$122K
Gains on assetsLn 7$0
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$596K
SavingsLn 2$0
Cash and savings togetherLn 1–2$596K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$72K
Total assetsLn 16$668K
LiabilitiesLn 26$185K
Net assetsLn 32$483K
OperationsPt I, VI
EmployeesI 50
VolunteersI 675
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$311K$596K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$508K$668K
LiabilitiesLn 26$42K$185K
Net assetsLn 32$466K$483K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$906K$906K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$344K$344K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$20K$20K
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$25K$25K
All other expensesLn 24e$9K$9K
Total functional expensesLn 25$1.3M$906K$398K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.7M$1.7M−$32K$847K 990 PDF
FY2024 $1.4M$1.3M$79K$587K 990 PDF
FY2023 $1.6M$1.5M$25K$508K 990 PDF
FY2022 Viewing $1.3M$1.3M$17K$483K 990 PDF
FY2021 $911K$986K−$75K$466K 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 FY2022 990 (6 parts)
Part I · Summary $1,322,204 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $666,768$1,115,571
I-9 Program service revenuePrior year $244,176$84,780
I-10 Investment incomePrior year $223$27
I-11 Other revenuePrior year $0$121,826
I-12 Total revenuePrior year $911,167$1,322,204
I-13 Grants and similar amounts paidPrior year $673,213$906,327
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $287,074$364,601
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $25,985$33,897
I-18 Total expensesPrior year $986,272$1,304,825
I-19 Revenue less expensesPrior year −$75,105$17,379
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
Part VIII · Statement of revenue $1,322,204 across 9 lines filed
Lines not itemized here account for $121,826 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$851,481
VIII-1h Total contributions, gifts and grants$1,115,571
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $84,780$84,780
VIII-3 Investment incomeRelated to mission $27$27
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $84,807$1,322,204
Part IX · Statement of functional expenses $1,304,825 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $906,327$906,327
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $344,359$344,359
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsManagement $20,242$20,242
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Management $25,290$25,290
IX-24e All other expensesManagement $8,607$8,607
IX-25 Total functional expensesPrograms $906,327 · Management $398,498 · Fundraising $0$1,304,825
Part X · Balance sheet $668,276 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $311,379$596,057
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $196,861$72,219
X-16 Total assetsStart of year $508,240$668,276
X-17 Accounts payable and accrued expensesStart of year $42,363$185,020
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $42,363$185,020
X-32 Total net assets or fund balancesStart of year $465,877$483,256
X-33 Total liabilities and net assetsStart of year $508,240$668,276
Part XI · Reconciliation of net assets $483,256 net assets at year end
XI-1 Total revenue$1,322,204
XI-2 Total expenses$1,304,825
XI-3 Revenue less expenses$17,379
XI-4 Net assets at start of year$465,877
XI-10 Net assets at end of year$483,256

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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