Nonprofit · EIN 85-1150997
LKN KRAKENS
Also known as KAREN SHERARD SOLE MBR
Tax-exempt · HUNTERSVILLE, NC 28078
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $139,490 | $136,831 | $2,659 | $0 | – | $2,659 |
| December 31, 2024 | 990-EZ | $120,049 | $120,049 | $0 | $0 | $0 | $0 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $139,490
Expenses
- Compensation of officers, directors and key employees
- $0
- Professional fees and payments to contractors
- $67,419
- Other expenses
- $69,412
- Program services (functional)
- $136,832
Balance sheet and other
- Total assets, start of year
- $0
- Total assets, end of year
- $0
- Total liabilities, end of year
- –
- Net assets, end of year
- $2,659
- Gross receipts
- $139,490
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-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Karen Sherard | Founder | 25 | $0 |
| Ebony Waters | Director | 15 | $0 |
990-EZ for the year ended December 31, 2024: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Karen Sherard LKN Pitching | Founder | 30 | $44,750 |
| Ebony Waters | Director of Operations | 30 | $9,000 |
Address and contacts
- Address (IRS master file)
- 6049 LATTA SPRINGS CIR, HUNTERSVILLE, NC 28078-2333
- Mailing address (990-N for 2023)
- 6049 Latta Springs Circle, Huntersville NC 28078
- Principal officer (990-N for 2023)
- Karen Sherard, 6049 Latta Springs Circle, Huntersville NC 28078
- Signed the 990-EZ
- Karen Sherard, Founder
- Phone
- (704) 654-1069
- Website
- Www.lknkrakens.com
Mission
To provide youth athletes with affordable softball training, athletic competition, educational development, and opportunities that promote teamwork, leadership, sportsmanship, and personal growth.
Program accomplishments
- Provided youth softball training, coaching, and competitive tournament opportunities for athletes through organized teams, practices, and instructional development programs. Supported player development, teamwork, leadership, and sportsmanship through year-round athletic activitiesExpenses $136,832
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-N on file |
IRS record
- EIN
- 85-1150997
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N60)
- Assets (IRS master file)
- $1
- Income (IRS master file)
- $139,490
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $139,490 | $136,831 | $0 | IRS |
| 990-EZ | December 2024 | $120,049 | $120,049 | $0 | IRS |
| 990-N for 2023 Officer: Karen Sherard | December 31, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2022 Officer: Karen Sherard | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2021 Officer: Karen Sherard | December 31, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: Karen Sherard | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 85-1150997).
Questions about LKN KRAKENS
- What is the EIN of LKN KRAKENS?
- The employer identification number (EIN) of LKN KRAKENS is 85-1150997.
- Is LKN KRAKENS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to LKN KRAKENS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LKN KRAKENS file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LKN KRAKENS due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LKN KRAKENS last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who is the principal officer of LKN KRAKENS?
- The 990-N for 2023 names Karen Sherard.
- Who are the officers and directors of LKN KRAKENS?
- The 990-EZ for the year ended December 31, 2025 lists 2 people; 0 received compensation from the organization.
- How much revenue does LKN KRAKENS have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $139,490, expenses of $136,831 and total assets of $0 at year end.
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