Nonprofit · EIN 87-1747750
SHARKS FOUNDATION USA INC
Tax-exempt · NEW YORK, NY 10019
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $46,442 | $18,536 | $27,906 | $28,978 | $0 | $28,978 |
| December 31, 2023 | 990 | $65,500 | $66,175 | -$675 | $1,072 | $0 | $1,072 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $46,442
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $10,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $7,876
- Program services (functional)
- $10,000
- Management and general (functional)
- $8,536
Balance sheet and other
- Total assets, start of year
- $1,072
- Total assets, end of year
- $28,978
- Total liabilities, end of year
- $0
- Net assets, end of year
- $28,978
- Gross receipts
- $46,442
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- DE
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARCO V MASOTTI | PRESIDENT Trustee or director, Officer | 1 | $0 |
| MICHAELA S MASOTTI | SECRETARY Trustee or director, Officer | 1 | $0 |
| TRACY A STEIN | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARCO V MASOTTI | PRESIDENT Trustee or director, Officer | 1 | $0 |
| MICHAELA S MASOTTI | SECRETARY Trustee or director, Officer | 1 | $0 |
| TRACY A STEIN | TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1285 AVENUE OF THE AMERICAS 21ST F, NEW YORK, NY 10019-6031
- In care of
- % MARCO V MASOTTI
- Principal officer (990 for 2024)
- MARCO V MASOTTI, 22 HIGH MEADOWS ROAD, MOUNT KISCO, NY 10549
- Signed the 990
- MARCO V MASOTTI, PRESIDENT
- Phone
- (212) 373-3034
- Return prepared by
- WAGNER FERBER FINE & ACKERMAN PLLC
Mission
THE SHARKS FOUNDATION WORKS TO (I) PROVIDE SUPPORT, ASSISTANCE, RESOURCES, AND MENTORING TO CURRENT, FORMER, AND FUTURE PLAYERS, MANAGEMENT AND ASSOCIATES OF THE SHARKS RUGBY TEAM (AND THEIR FAMILY MEMBERS AND DEPENDENTS), (II) SUPPORT THE HUMANITARIAN OR CHARITABLE PURPOSES OF FOUNDATIONS AND SIMILAR ORGANIZATIONS ESTABLISHED OR LED BY CURRENT OR FORMER PLAYERS OF THE SHARKS RUGBY TEAM, (III) TO SUPPORT HUMANITARIAN OR RELIEF EFFORTS AND ACTIVITIES IN THE CITY OF DURBAN AND SURROUNDING COMMUNITIES IN THE PROVINCE OF KWAZULU NATAL THROUGH GRANTMAKING.
Program accomplishments
- THE SHARKS FOUNDATION WORKS TO (I) PROVIDE SUPPORT, ASSISTANCE, RESOURCES, AND MENTORING TO CURRENT, FORMER, AND FUTURE PLAYERS, MANAGEMENT AND ASSOCIATES OF THE SHARKS RUGBY TEAM (AND THEIR FAMILY MEMBERS AND DEPENDENTS), (II) SUPPORT THE HUMANITARIAN OR CHARITABLE PURPOSES OF FOUNDATIONS AND SIMILAR ORGANIZATIONS ESTABLISHED OR LED BY CURRENT OR FORMER PLAYERS OF THE SHARKS RUGBY TEAM, (III) TO SUPPORT HUMANITARIAN OR RELIEF EFFORTS AND ACTIVITIES IN THE CITY OF DURBAN AND SURROUNDING COMMUNITIES IN THE PROVINCE OF KWAZULU NATAL THROUGH GRANTMAKING.Expenses $10,000 · grants $10,000
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-1747750
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $28,978
- Income (IRS master file)
- $46,442
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $46,442 | $18,536 | $28,978 | XML |
| 990 | December 2023 | $65,500 | $66,175 | $1,072 | XML |
| 990 | December 2022 | $0 | $1,543 | $1,747 | IRS |
| 990 | December 2021 | $130,000 | $126,710 | $3,290 | IRS |
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 87-1747750).
Questions about SHARKS FOUNDATION USA INC
- What is the EIN of SHARKS FOUNDATION USA INC?
- The employer identification number (EIN) of SHARKS FOUNDATION USA INC is 87-1747750.
- Is SHARKS FOUNDATION USA INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to SHARKS FOUNDATION USA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SHARKS FOUNDATION USA INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of SHARKS FOUNDATION USA INC 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 SHARKS FOUNDATION USA INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SHARKS FOUNDATION USA INC?
- The 990 for the year ended December 31, 2024 names MARCO V MASOTTI.
- Who are the officers and directors of SHARKS FOUNDATION USA INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does SHARKS FOUNDATION USA INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $46,442, expenses of $18,536 and total assets of $28,978 at year end.
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