SHARP FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
SHARP FOUNDATION (EIN 54-1526891)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-02-23
IRS object ID
202510549349100001
Schema version
2024v5.0
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)
Return2025-02-23T04:49:22-08:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

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
Signature2025-02-23SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,219,198FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,045,159ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$1,991InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,991InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$49,031DividendsRevAndExpnssAmt
Dividends Net Invst Incm$49,031DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$39,368NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$44,968GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$39,368CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,135,549TotalRevAndExpnssAmt
Total Net Invst Incm$90,390TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$75LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$75LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$125AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$125AccountingFeesChrtblPrpsAmt
Other Expenses Rev And Expnss$11,029OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$11,029OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$11,229TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$11,229TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,368,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,368,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,379,229TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,379,229TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$756,320ExcessRevenueOverExpensesAmt
Net Investment Income$90,390NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,502,848SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$2,219,918SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$2,219,198SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$1,502,848TotalAssetsBOYAmt
Total Assets EOY$2,219,918TotalAssetsEOYAmt
Total Assets EOYFMV$2,219,198TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$1,502,848CapitalStockBOYAmt
Capital Stock EOY$2,219,918CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$1,502,848TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,219,918TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,502,848TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,219,918TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,502,848TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$756,320ExcessRevenueOverExpensesAmt
Subtotal$2,259,168SubtotalAmt
Other Decreases$39,250OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$2,219,918TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property350 CROCS INCPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2010-06-25AcquiredDt
Sold2024-09-12SoldDt
Gross Sales Price$44,968GrossSalesPriceAmt
Cost Or Other Basis$5,600CostOrOtherBasisAmt
Gain Or Loss$39,368GainOrLossAmt
Gains Minus Excess Or Losses$39,368GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$39,368CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,256InvestmentIncomeExciseTaxAmt
Subtotal$1,256SubtotalAmt
Tax Based On Investment Income$1,256TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$12,478EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$12,478TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$11,222OverpaymentAmt
Applied To ES Tax$11,222AppliedToESTaxAmt

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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Sherry A Sharp
900 LASKIN ROAD STE 200VIRGINIA BEACHVA23451President1.00$0
James P Karides
900 LASKIN ROAD STE 200VIRGINIA BEACHVA23451Secty/Treas1.00$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$1,276,909AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,276,909TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$1,276,909AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$19,154CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,257,755NetVlNoncharitableAssetsAmt
Minimum Investment Return$62,888MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$62,888MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,256TaxBasedOnInvestmentIncomeAmt
Total Tax$1,256TotalTaxAmt
Distributable Before Adj$61,632DistributableBeforeAdjAmt
Distributable Before Ded$61,632DistributableBeforeDedAmt
Distributable As Adjusted$61,632DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,379,229ExpensesAndContributionsAmt
Qualifying Distributions$1,379,229QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$61,632DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$1,011,517ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$1,467,416ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$1,518,441ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,467,224ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,599,906ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$7,064,504TotalExcessDistributionCyovAmt
Qualifying Distributions$1,379,229QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$61,632AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,317,597RemainingDistriFromCorpusAmt
Total Corpus$8,382,101TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,011,517ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$7,370,584ExcessDistriCyovToNextYrAmt
Excess From Year4$1,467,416ExcessFromYear4Amt
Excess From Year3$1,518,441ExcessFromYear3Amt
Excess From Year2$1,467,224ExcessFromYear2Amt
Excess From Year1$1,599,906ExcessFromYear1Amt
Excess From Current Year$1,317,597ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerSherry A SharpContributingManagerNm
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
CityVARIOUSCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23451ZIPCd
FieldValueIRS element (for citing)
Recipient Relationshipn/aRecipientRelationshipTxt
Recipient Foundation Status501(c)(3)RecipientFoundationStatusTxt
Grant Or Contribution PurposeSee AttachedGrantOrContributionPurposeTxt
Amt$1,368,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,368,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,991ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$49,031ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$39,368ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$90,390ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$90,390TotalIncomeProducingActyAmt

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 ContributionPersonContributionIndNoncash ContributionNoncashContributionInd
SHERRY A SHARP
1900 LASKIN ROAD STE 200VIRGINIA BEACHVA23451$2,000,000Yes (X)
SHERRY A SHARP
2900 LASKIN ROAD STE 200VIRGINIA BEACHVA23451$44,849Yes (X)

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor2ContributorNum
Noncash Property350 shares CROCS, INC.NoncashPropertyDesc
Fair Market Value$44,849FairMarketValueAmt
Received2024-09-11ReceivedDt

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryTAX PREPARATIONCategoryTxt
Amt$125Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$125DisbursementsCharitablePrpsAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$75LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$75DisbursementsCharitablePrpsAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
Descstock basis differences between fmv and original donor basisDesc
Amt$39,250Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
administrative services$10,923$10,923
LICENSES AND REGISTRATIONS$25$25
operational$10$10
supplies$71$71

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