Sharks Foundation USA Inc

Analysis

Sharks Foundation USA Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sharks Foundation USA Inc reported income of $66k and spending of $66k, spending 101% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $130k to $66k (-50%), an average of -29% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 99% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Sharks Foundation USA Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include St Paul Evangelical Lutheran Church Foundation ($65k), Teazey Foundation Inc ($66k) and Free Turkerys Korean-Amer Foundation ($65k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1,072 against liabilities of $0, net assets of $1,072.