BETA

SHARP FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
SHARP FOUNDATION (EIN 54-1526891)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-04
IRS object ID
202313089349100206
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-11-04T17:12:00-07:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN541526891EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE SHARP FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSHARBusinessNameControlTxt
Phone8046013090PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1900 Laskin Rd 200AddressLine1Txt
CityVirginia BeachCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23451ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJames P KaridesPersonNm
Person TitleTreasurerPersonTitleTxt
Signature2023-11-04SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJames PPersonFirstNm
Person LastKaridesPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$173,744FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$12,500ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$178InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$178InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$10,417DividendsRevAndExpnssAmt
Dividends Net Invst Incm$10,417DividendsNetInvstIncmAmt
Total Rev And Expnss$23,095TotalRevAndExpnssAmt
Total Net Invst Incm$10,595TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$150LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$150LegalFeesDsbrsChrtblAmt
Other Expenses Rev And Expnss$12,270OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$12,270OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$12,420TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$12,420TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,503,153ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,503,153ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,515,573TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,515,573TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,492,478ExcessRevenueOverExpensesAmt
Net Investment Income$10,595NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,666,222SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$173,744SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$173,744SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$1,666,222TotalAssetsBOYAmt
Total Assets EOY$173,744TotalAssetsEOYAmt
Total Assets EOYFMV$173,744TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$1,666,222CapitalStockBOYAmt
Capital Stock EOY$173,744CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$1,666,222TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$173,744TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,666,222TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$173,744TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,666,222TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,492,478ExcessRevenueOverExpensesAmt
Subtotal$173,744SubtotalAmt
Tot Net Ast Or Fund Balances EOY$173,744TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$147InvestmentIncomeExciseTaxAmt
Subtotal$147SubtotalAmt
Tax Based On Investment Income$147TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$16,658EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$16,658TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$16,511OverpaymentAmt
Applied To ES Tax$16,511AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateVAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1JAMES KARIDESBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8046013090PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1900 Laskin Rd 200AddressLine1Txt
CityVA BeachCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23451ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Cheryl R Jennings
po box 42333richmondVA232422333Secretary1.00$0
Sherry A Sharp
po box 42333richmondVA232422333President1.00$0
James P Karides
PO Box 42333RICHMONDVA232422333Treasurer1.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$984,689AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$984,689TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$984,689AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$14,770CashDeemedCharitableAmt
Net Vl Noncharitable Assets$969,919NetVlNoncharitableAssetsAmt
Minimum Investment Return$48,496MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$48,496MinimumInvestmentReturnAmt
Tax Based On Investment Income$147TaxBasedOnInvestmentIncomeAmt
Total Tax$147TotalTaxAmt
Distributable Before Adj$48,349DistributableBeforeAdjAmt
Distributable Before Ded$48,349DistributableBeforeDedAmt
Distributable As Adjusted$48,349DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,515,573ExpensesAndContributionsAmt
Qualifying Distributions$1,515,573QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$48,349DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$1,061,332ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$1,163,660ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$1,011,517ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,467,416ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,518,441ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$6,222,366TotalExcessDistributionCyovAmt
Qualifying Distributions$1,515,573QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$48,349AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,467,224RemainingDistriFromCorpusAmt
Total Corpus$7,689,590TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,061,332ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$6,628,258ExcessDistriCyovToNextYrAmt
Excess From Year4$1,163,660ExcessFromYear4Amt
Excess From Year3$1,011,517ExcessFromYear3Amt
Excess From Year2$1,467,416ExcessFromYear2Amt
Excess From Year1$1,518,441ExcessFromYear1Amt
Excess From Current Year$1,467,224ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonSEE ATTACHED SCHEDULERecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1SEE ATTACHED SCHEDULEAddressLine1Txt
CityRichmondCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23242ZIPCd
FieldValueIRS element (for citing)
Recipient Relationshipn/aRecipientRelationshipTxt
Recipient Foundation Status501(c)(3)RecipientFoundationStatusTxt
Grant Or Contribution PurposeSee AttachedGrantOrContributionPurposeTxt
Amt$1,503,153Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,503,153TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$178ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$10,417ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$10,595ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$10,595TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
APRIL GARNETT
1511 RIVERGATE DRRICHMONDVA232386422$6,500Yes (X)
JULIE RAUTIO
22302 E GRACE STREETRICHMONDVA23223$6,000Yes (X)

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$150LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$150DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
administrative services$11,440$11,440
operational$830$830

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