Nonprofit · EIN 48-1272926
CANET FOUNDATION
Tax-exempt · SHERMAN OAKS, CA 91403
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $858,461 | $926,384 | -$67,923 | $12,529,050 | $24,419 | $12,504,631 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $244,048
- Interest
- $20,261
- Net gain from sales of assets
- $573,684
- Other income
- $20,468
Expenses
- Grants and similar amounts paid
- $389,020
- Compensation of officers, directors and key employees
- $178,480
- Disbursements for charitable purposes
- $389,020
- Excise tax on investment income
- $11,648
Balance sheet and other
- Total assets, start of year
- $12,610,022
- Total assets, end of year
- $12,529,050
- Total liabilities, end of year
- $24,419
- Net assets, end of year
- $12,504,631
- Fair market value of assets
- $8,270,686
- Qualifying distributions
- $389,020
- Net investment income
- $837,993
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NICHOLAS TOROKVEI 4129 KNOBHILL DR, SHERMAN OAKS, CA 91403 | Director | 30 | $120,333 | $25,147 |
| DAVID GARELICK 15260 VENTURA BLVD SUITE 1750, SHERMAN OAKS, CA 91403 | Secretary | 4 | $12,000 | – |
| JOHN L HART 7090 EAST SOOKE RD, SOOKE, BC V9Z 1A8, CA | Director | 4 | $12,000 | – |
| JOHN BROOKS 23822 VALENCIA BLVD SUITE 304, VALENCIA, CA 91355 | BOARD MEMBER | 2 | $6,000 | – |
| BRANT VAN HOFFMAN 784 ESTES PARK COURT, ST PETERS, MO 63376 | BOARD MEMBER | 1 | $3,000 | – |
Address and contacts
- Address (IRS master file)
- 15260 VENTURA BLVD STE 1750, SHERMAN OAKS, CA 91403-5336
- In care of
- % GLOBAL BUSINESS MANAGEMENT
- Mailing address (990-N for 2007)
- 15250 VENTURA BLVD, SHERMAN OAKS CA 91403
- Principal officer (990-N for 2007)
- PEETA JANE TOROKVEI, 4129 KNOBHILL DRIVE, SHERMAN OAKS CA 91403
- Signed the 990-PF
- NICHOLAS TOROKVEI, CEO
- Phone
- (818) 385-3100
- Return prepared by
- Global Tax & Accounting Inc
What it must file and when
IRS records say it files Not required. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 48-1272926
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Not required
- Category (NTEE)
- Education (B94)
- Assets (IRS master file)
- $12,529,050
- Income (IRS master file)
- $2,658,424
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $725,936 | $838,429 | $12,610,022 | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-N for 2007 Officer: PEETA JANE TOROKVEI | December 31, 2007 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about CANET FOUNDATION
- What is the EIN of CANET FOUNDATION?
- The employer identification number (EIN) of CANET FOUNDATION is 48-1272926.
- Is CANET FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to CANET FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CANET FOUNDATION file?
- Form Not required.
- When is the next return of CANET FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CANET FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who is the principal officer of CANET FOUNDATION?
- The 990-N for 2007 names PEETA JANE TOROKVEI.
- Who are the officers and directors of CANET FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 5 people; 5 received compensation from the organization, the highest $120,333 (NICHOLAS TOROKVEI, Director).
- How much revenue does CANET FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $858,461, expenses of $926,384 and total assets of $12,529,050 at year end.
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