Civic Intelligence

The Sharks Foundation

990 • Fiscal year 2018 • EIN 77-0374062

Aug 01, 2017 to Jul 31, 2018 • Filed on Jun 11, 2019

Organization ProfileWWW.NHL.COM/SHARKS/SHARKSFOUNDATION
525 West Santa Clara StreetSan Jose, CA 95113

(408) 999-5784

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.63x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.34x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$101,248

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

7th percentile

-20%

Faster asset growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

50th percentile

3.9%

Faster revenue growth than 50% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$842,609

Down $206,634 (-20%) from 2017

Net Assets

Down

$315,367

Down $318,773 (-50%) from 2017

Liabilities

Up

$527,242

Up $112,139 (+27%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin13th percentile

Revenue

Up

$1,534,252

Up $57,221 (+3.9%) from 2017

Expenses

Up

$1,853,025

Up $87,315 (+4.9%) from 2017

Net Income

Down

-$318,773

Down $30,094 (-10%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2015: $1,373,544Liabilities 2015: $122,2102015Assets 2017: $1,049,243Liabilities 2017: $415,103Net Assets 2017: $634,1402017Assets 2018: $842,609Liabilities 2018: $527,242Net Assets 2018: $315,3672018Assets 2019: $760,820Liabilities 2019: $430,627Net Assets 2019: $330,1932019Assets 2020: $661,795Liabilities 2020: $120,813Net Assets 2020: $540,9822020Assets 2021: $508,240Liabilities 2021: $42,363Net Assets 2021: $465,8772021Assets 2022: $668,276Liabilities 2022: $185,020Net Assets 2022: $483,2562022Assets 2023: $1,017,347Liabilities 2023: $509,151Net Assets 2023: $508,1962023Assets 2024: $1,554,941Liabilities 2024: $967,663Net Assets 2024: $587,2782024

Highlighted filing

2018

Assets$842,609
Liabilities$527,242
Net Assets$315,367
Open 2018 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,799,557Expenses 2015: $2,053,582Net Income 2015: -$254,0252015Revenue 2017: $1,477,031Expenses 2017: $1,765,710Net Income 2017: -$288,6792017Revenue 2018: $1,534,252Expenses 2018: $1,853,025Net Income 2018: -$318,7732018Revenue 2019: $1,599,748Expenses 2019: $1,584,922Net Income 2019: $14,8262019Revenue 2020: $1,765,510Expenses 2020: $1,554,721Net Income 2020: $210,7892020Revenue 2021: $911,167Expenses 2021: $986,272Net Income 2021: -$75,1052021Revenue 2022: $1,322,204Expenses 2022: $1,304,825Net Income 2022: $17,3792022Revenue 2023: $1,572,127Expenses 2023: $1,547,187Net Income 2023: $24,9402023Revenue 2024: $1,424,811Expenses 2024: $1,345,729Net Income 2024: $79,0822024

Highlighted filing

2018

Revenue$1,534,252
Expenses$1,853,025
Net Income-$318,773
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Jun 11, 2019
Return Version
2017v2.3
Gross Receipts
$2,081,898
Mission and Program Overview

Mission

The sharks foundation is dedicated to enhancing the lives of underserved youth and families in the community with an emphasis in the areas of education, health and safety, and character building. The sharks foundation also supplies emergency aid when appropriate, executes unique and relevant programming, supports the advancement of youth hockey and provides financial support and resources to organizations that enrich the lives of those in need.

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 DEVELOPMENT.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,044,573$837,979▼ $206,594
Rtn Earn Endowment Incm Other Fnds$634,140$315,367▼ $318,773
Accounts Receivable$2,000$4,630▲ $2,630
Prepaid Expenses and Deferred Charges$2,670$0▼ $2,670
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,049,243$842,609▼ $206,634
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$415,103$527,242▲ $112,139
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$415,103$527,242▲ $112,139
Net Assets / Fund Balance
Total Net Assets Fund Balance$634,140$315,367▼ $318,773
Total Liabilities and Net Assets / Fund Balance$1,049,243$842,609▼ $206,634
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather HooperDirectorFT$100,429$819$101,248

Board Members and Trustees

NameTitle
Doug BentzPresident
Amber CottleBoard Member
Cara BrowningBoard Member
Dan RusanowskyBoard Member
Jennifer BirminghamBoard Member
John RootBoard Member
Mike MccarrollBoard Member
Neda TabatabaieBoard Member
Richard RochaBoard Member
Doug WilsonHonorary Board Member
John TortoraHonorary Board Member
Ken CaveneyOfficer
Mary Grace MillierSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$1,275,670
Program Service Revenue
$-101,598
Investment Income
$437
Other Revenue
$359,743
All Other Contributions
$689,890
Change in Net Assets
$-318,773
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,298,312
Salaries, Compensation, and Employee Benefits$418,130
Other Expenses$136,583
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,298,312--$1,298,312
Other Salaries and Wages-$378,358$0$378,358
All Other Expenses-$117,471-$117,471
Other Employee Benefits-$39,772$0$39,772
Travel-$4,654$0$4,654
Other Expenses-$1,200-$1,200
Total Functional Expenses$1,298,312$554,713$0$1,853,025
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Statement aSan Jose, CA-General Charitable Purpose$1,298,312
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$776,521
Gaming Direct Expenses$506,755
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sampling the Sh$478,678$478,678$61,674$417,004
Mystery Pucks$148,808$148,808$28,907$119,901
Total Events$698,809$698,809$113,028$585,781
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Sharks Foundation
EIN
77-0374062
In Care Of
% KEN CAVENEY
Phone
4089995784
Address
525 WEST SANTA CLARA STREET, SAN JOSE, CA 95113

Signing Officer

Name
Ken Caveney
Title
Officer
Phone
4089994784
Signed
2019-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Caveney
Formed
1994
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
156

Preparer

Firm
Rosewood Family Advisors LLP
Address
2475 Hanover Street Suite 100, Palo Alto, CA 94304
Preparer
Kerry Bratton Partner
Phone
6503132004
Supplemental Narrative

Additional Explanations

1

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IRS990/MissionDesc0THE SHARKS FOUNDATION IS DEDICATED TO ENHANCING THE LIVES OF UNDERSERVED YOUTH AND FAMILIES IN THE COMMUNITY WITH AN EMPHASIS IN THE AREAS OF EDUCATION, HEALTH AND SAFETY, AND CHARACTER DEVELOPMENT. THE SHARKS FOUNDATION ALSO SUPPLIES EMERGENCY AID WHEN APPROPRIATE, EXECUTES UNIQUE AND RELEVANT PROGRAMMING, SUPPORTS THE ADVANCEMENT OF YOUTH HOCKEY AND PROVIDES FINANCIAL SUPPORT AND RESOURCES TO ORGANIZATIONS THAT ENRICH THE LIVES OF THOSE IN NEED. SINCE ITS INCEPTION, THE SHARKS FOUNDATION HAS GIVEN MORE THAN $15 MILLION TO BAY AREA ORGANIZATIONS.
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt039772
IRS990/OtherEmployeeBenefitsGrp/TotalAmt039772
IRS990/OtherExpensesGrp/Desc0MEALS
IRS990/OtherExpensesGrp/Desc1AUDIT AND TAX FEES
IRS990/OtherExpensesGrp/Desc2LICENSES EXPENSE
IRS990/OtherExpensesGrp/Desc3TELEPHONE AND COMMUNICATION
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02598
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110510
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2150
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31200
IRS990/OtherExpensesGrp/TotalAmt02598
IRS990/OtherExpensesGrp/TotalAmt110510
IRS990/OtherExpensesGrp/TotalAmt2150
IRS990/OtherExpensesGrp/TotalAmt31200
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0378358
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02670
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0KEN CAVENEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0GOALS FOR KIDS
IRS990/ProgramServiceRevenueGrp/Desc1STICK FOR FITNESS
IRS990/ProgramServiceRevenueGrp/Desc2FITNESS FACEOFF
IRS990/ProgramServiceRevenueGrp/Desc3FANTASY CAMP
IRS990/ProgramServiceRevenueGrp/Desc4HOLIDAY ADOPTION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0-107304
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1-23581
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-1139
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt356253
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4-7291
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0-107304
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1-23581
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-1139
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt356253
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4-7291
IRS990/ProgSrvcAccomActy2Grp/Desc0THE SHARKS FOUNDATION SUPPORTS THOSE IN NEED THROUGH A NUMBER OF LEGACY PROJECTS: KABOOM! INC. - THE SHARKS FOUNDATION PARTNERS WITH KABOOM! TO BUILD SHARKS-THEMED PLAYGROUNDS IN AREAS THAT NEED AN ACCESSIBLE PLAY SPACE. THE PURPOSE OF THESE BUILDS IS TO STRENGTHEN COMMUNITY BONDS WHILE GIVING YOUTH THE ACTIVE AND SAFE CHILDHOOD THEY DESERVE. ROTARY CLUB OF SAN JOSE - THE FOUNDATION SPONSORED A FUNDRAISER TOWARDS THE CREATION OF THE ROTARY PLAYGROUND. THE PLAYGROUND, A PROJECT OF THE SAN JOSE ROTARY CLUB IN PARTNERSHIP WITH THE GUADALUPE RIVER PARK CONSERVANCY, ALLOWS CHILDREN OF ALL ABILITIES TO DISCOVER, LEARN, EXPLORE AND PLAY TOGETHER SIDE BY SIDE, WITH AN EMPHASIS ON INCLUSION AND EDUCATION. ROOSEVELT PARK OUTDOOR RINK - IN PARTNERSHIP WITH THE NHL, SAP AND THE CITY OF SAN JOSE, THE SHARKS FOUNDATION REFURBISHED AN OUTDOOR RINK AT ROOSEVELT PARK IN THE HEART OF DOWNTOWN SAN JOSE, AS A LEGACY PROJECT TO COMMEMORATE THE 2019 ALL-STAR GAME. THE SHARKS FOUNDATION DONATED $500,000 FOR MUCH NEEDED UPDGRADES, MAKING THE DEVELOPMENT THE SECOND LARGEST CONTRIBUTION IN THE FOUNDATION'S HISTORY. THE REVITALLIZED SPACE WILL INCREASE ACCESS TO THE GAME OF HOCKEY YEAR-ROUND, PROVIDING A SAFE, ACTIVE ENVIRONMENT FOR COMMUNITY MEMBERS. TECH MUSEUM OF INNOVATION - THE SHARKS FOUNDATION PARTNERS WITH SAP TO ENSURE THAT STEM EDUCATION IS ACCESSIBLE TO ALL STUDENTS IN THE BAY AREA THORUGH FIELD TRIP DAYS AT THE TECH AND A HOCKEY-THEMED DESIGN CHALLENGE EXHIBIT AT THE MUSEUM.
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IRS990/PYContributionsGrantsAmt01116481
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt01363415
IRS990/PYInvestmentIncomeAmt0368
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0132009
IRS990/PYOtherRevenueAmt0251412
IRS990/PYProgramServiceRevenueAmt0108770
IRS990/PYRevenuesLessExpensesAmt0-288679
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$842,609
Liabilities
$527,242
Net assets
$315,367
Revenue
$1,534,252
Expenses
$1,853,025
Net income
-$318,773
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.55$0.97$0.59$1.42$1.35$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.02$0.51$0.51$1.57$1.55$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.67$0.19$0.48$1.32$1.30$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.51$0.04$0.47$0.91$0.99$0.08
2020Summary only. Only limited summary data is available for this year.$0.66$0.12$0.54$1.77$1.55$0.21
2019Summary only. Only limited summary data is available for this year.$0.76$0.43$0.33$1.60$1.58$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.84$0.53$0.32$1.53$1.85$0.32
2017Detailed filing. Detailed filing data is available for this year.$1.05$0.42$0.63$1.48$1.77$0.29
2015Summary only. Only limited summary data is available for this year.$1.37$0.12$1.80$2.05$0.25