The Sharks Foundation FY2024 filing

Tax-deductible

San Jose, CA501(c)(3)Since 1994Youth DevelopmentEIN 77-0374062Revenue $1.4M in FY2024

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.
67¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 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
$968K
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
-9% vs prior year
Spent
$1.3M
To programs
67%
Net assets
$587K
By yearFY2021–FY2025
Revenue
$1.4M
FY2024▼ -9%
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
FY2024▼ -13%
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
$587K
FY2024▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2021$466K
FY2022$483K
FY2023$508K
FY2024$587K
FY2025$847K

From the FY2024 Form 990 (year ending June 2024) · 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 Jan 2017.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $901K Management & general 33% · $445K

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 (FY2023); the FY2024 filing did not itemize Part VII
President
$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
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
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

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 · $901K · in their own filed words · FY2023
01

Community assist grants the sharks foundation's community assist grant program provides monetary support to public, 501(c)(3) non-profits serving bay area youth and families. Spanning from september 2023 to june 2024, the program featured key ACTIVATIONS/EVENTS and included support from sharks players, coaches, alumni, broadcasters…

$621Kprogram expense
02

Goals for kids since 2014, the goals for kids program has provided season culminating grants to non-profits supporting youth and families. For every goal scored by a sharks player, a $1,000 donation was split amongst seven non-profit beneficiaries: adolescent counseling services, elevate tutoring, international association for human…

$180Kprogram expense
03

Npower partnership during the 2023-24 season, the sharks foundation joined forces with sap to provide a $100,000 donation to non-profit npower whose mission is to create pathways to economic prosperity by launching digital careers for military veterans and young adults from underserved COMMUNITIES.THE funding supported their tech…

$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 FY2024 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.0M
Other incomeLn 4–11$389K
Investment incomeLn 3$235
Money outPt IX
$1.3M
Ln 25
Programscol B$901K
Managementcol C$445K
Owns and owesPt X
$587K
net assets · Ln 32
Cash and savingsLn 1–2$871K
Total assetsLn 16$1.6M
LiabilitiesLn 26$968K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$2K
Fundraising eventsLn 1c$91K
Investment incomeLn 3$235
Other incomeLn 4–11$389K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$871K
Cash and savings togetherLn 1–2$871K
Other assetsLn 15$659K
Total assetsLn 16$1.6M
LiabilitiesLn 26$968K
Net assetsLn 32$587K
OperationsPt I, VI
EmployeesI 50
VolunteersI 675
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$312K$871K
Total assetsLn 16$1.0M$1.6M
LiabilitiesLn 26$509K$968K
Net assetsLn 32$508K$587K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$901K$901K
Other salaries and wagesLn 7$316K$316K
Other employee benefitsLn 9$33K$33K
Payroll taxesLn 10$13K$13K
Other expenses (24a–d)Ln 24$83K$83K
All other expensesLn 24e$581$581
Total functional expensesLn 25$1.3M$901K$445K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.7M$1.7M−$32K$847K 990 PDF
FY2024 Viewing $1.4M$1.3M$79K$587K 990 PDF
FY2023 $1.6M$1.5M$25K$508K 990 PDF
FY2022 $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 FY2024 990 (6 parts)
Part I · Summary $1,424,811 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,006,321$1,035,809
I-9 Program service revenuePrior year $32,406$0
I-10 Investment incomePrior year $152$235
I-11 Other revenuePrior year $533,248$388,767
I-12 Total revenuePrior year $1,572,127$1,424,811
I-13 Grants and similar amounts paidPrior year $1,035,008$900,800
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $365,672$361,818
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $146,507$83,111
I-18 Total expensesPrior year $1,547,187$1,345,729
I-19 Revenue less expensesPrior year $24,940$79,082
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,424,811 across 7 lines filed
Lines not itemized here account for $128,051 of total revenue; see the IRS return.
VIII-1c Fundraising events$90,765
VIII-1e Government grants$1,900
VIII-1f All other contributions, gifts and grants$943,144
VIII-1h Total contributions, gifts and grants$1,035,809
VIII-3 Investment incomeRelated to mission $235$235
VIII-8 Net income from fundraising eventsExcluded from tax $260,716$260,716
VIII-12 Total revenueRelated to mission $235 · Unrelated business $0 · Excluded from tax $388,767$1,424,811
Part IX · Statement of functional expenses $1,345,729 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $900,800$900,800
IX-7 Other salaries and wagesManagement $315,738$315,738
IX-9 Other employee benefitsManagement $32,803$32,803
IX-10 Payroll taxesManagement $13,277$13,277
IX-24 Other expenses (24a–d)Management $82,530$82,530
IX-24e All other expensesManagement $581$581
IX-25 Total functional expensesPrograms $900,800 · Management $444,929 · Fundraising $0$1,345,729
Part X · Balance sheet $1,554,941 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $311,729$870,591
X-4 Accounts receivable$24,990
X-15 Other assetsStart of year $705,618$659,360
X-16 Total assetsStart of year $1,017,347$1,554,941
X-17 Accounts payable and accrued expensesStart of year $509,151$959,790
X-19 Deferred revenue$7,873
X-26 Total liabilitiesStart of year $509,151$967,663
X-32 Total net assets or fund balancesStart of year $508,196$587,278
X-33 Total liabilities and net assetsStart of year $1,017,347$1,554,941
Part XI · Reconciliation of net assets $587,278 net assets at year end
XI-1 Total revenue$1,424,811
XI-2 Total expenses$1,345,729
XI-3 Revenue less expenses$79,082
XI-4 Net assets at start of year$508,196
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$587,278

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

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