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Nonprofiteer
← SHAREFEST COMMUNITY DEVELOPMENT INC

Form 990 for tax year 2023

Filed by SHAREFEST COMMUNITY DEVELOPMENT INC.

Totals

Total revenue
$2,216,798
Total expenses
$1,889,125
Contributions and grants received
$1,981,449
Grants paid
$0
Program service revenue
$0
Investment income
$58,236
Other revenue
$177,113
Total assets, end of year
$3,170,493
Total liabilities, end of year
$79,625
Net assets or fund balances, end of year
$3,090,868
Program services expenses (Part IX)
$1,503,127
Management and general expenses
$169,370
Fundraising expenses
$216,628
Program service expenses (Part III)
$1,503,127

Program services were 79.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $63,091

  • 1e · Government grants (contributions)

    $411,392

  • 1f · All other contributions, gifts and grants

    $1,506,966

  • 1g · Noncash contributions included above

    $52,725

  • 3 · Investment income

    total $58,236 · excluded $58,236

  • 8a · Fundraising events: gross income

    $221,721

  • 8a · Fundraising events: contributions included on line 1c

    $63,091

  • 8b · Fundraising events: direct expenses

    $160,549

  • 8c · Net income from fundraising events

    total $61,172 · excluded $61,172

  • 11a · Other revenue: Empl Retention Credit

    total $115,941 · related or exempt $115,941

  • 11e · Other revenue, total

    $115,941

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $183,750 · program services $145,734 · management and general $11,401 · fundraising $26,615

  • 7 · Other salaries and wages

    total $825,837 · program services $654,979 · management and general $51,239 · fundraising $119,619

  • 9 · Other employee benefits

    total $131,062 · program services $109,197 · management and general $7,255 · fundraising $14,610

  • 10 · Payroll taxes

    total $77,849 · program services $64,861 · management and general $4,310 · fundraising $8,678

  • 11c · Fees: accounting

    total $15,901 · program services $4,851 · management and general $10,241 · fundraising $809

  • 11g · Fees: other

    total $23,187 · program services $7,074 · management and general $14,934 · fundraising $1,179

  • 13 · Office expenses

    total $16,896 · program services $221 · management and general $11,940 · fundraising $4,735

  • 16 · Occupancy

    total $4,692 · program services $3,520 · management and general $586 · fundraising $586

  • 17 · Travel

    total $8,543 · program services $8,388 · management and general $127 · fundraising $28

  • 19 · Conferences, conventions and meetings

    total $18,673 · program services $5,207 · management and general $8,626 · fundraising $4,840

  • 22 · Depreciation, depletion and amortization

    total $43,412 · program services $43,412

  • 23 · Insurance

    total $23,530 · program services $23,530

  • 24a · Other expenses: Outside services

    total $399,329 · program services $343,685 · management and general $33,852 · fundraising $21,792

  • 24b · Other expenses: Program supplies & mate

    total $67,354 · program services $67,354

  • 24c · Other expenses: Dues and subsrciptions

    total $22,782 · program services $6,370 · management and general $11,347 · fundraising $5,065

  • 24d · Other expenses: Education & training

    total $12,962 · program services $8,024 · management and general $257 · fundraising $4,681

  • 24e · All other expenses

    total $13,366 · program services $6,720 · management and general $3,255 · fundraising $3,391

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,185,416 · end of year $857,479

  • 2 · Savings and temporary cash investments

    end of year $1,008,248

  • 3 · Pledges and grants receivable

    beginning of year $62,952 · end of year $203,265

  • 10a · Land, buildings and equipment: cost or other basis

    $868,865

  • 10b · Land, buildings and equipment: accumulated depreciation

    $205,180

  • 10c · Land, buildings and equipment, net

    beginning of year $705,053 · end of year $663,685

  • 12 · Investments: other securities

    end of year $437,816

  • 17 · Accounts payable and accrued expenses

    beginning of year $167,726 · end of year $79,625

  • 19 · Deferred revenue

    beginning of year $22,500 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,763,195 · end of year $2,965,868

  • 28 · Net assets with donor restrictions

    end of year $125,000

Mission and programs · 2023

Mission

Sharefest gives youth facing significant barriers the skills, support, and connections they need to achieve economic success.

  • Sharefest's Youth Leadership Academy (YLA) serves 360+ students in six LAUSD Continuation High Schools with credit-eligible courses encompassing Socio-Emotional Learning, Purpose Education, Professional Development, College/Career Access, Entrepreneurship, Financial Literacy and Service Learning. Students receive year-round mentoring, mental health and case management support, and workforce development programming that increases college and career success.

    Expenses $1,123,884 · Revenue $2,216,798

  • Sharefest's Corporate Services program organizes community service projects for local corporations who provide volunteers, community awareness and funding. Projects include the improvement and beautification of schools, parks and other public spaces. Corporate partners also serve as a resource for the YLA's workforce development program.

    Expenses $379,243

As filed on the 2023 return.

Listed in Part VII

  • Chadwick R Mayer

    President

    Total calculated
    $183,750
    From this org
    $183,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,750
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $183,750

  • Dan Simon

    Board CFO

    Total calculated
    $0
    Hours/week
    1

  • Vince Vanacore

    Director

    Total calculated
    $0
    Hours/week
    1

  • Frank Schulz

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Mark Limpert

    Director

    Total calculated
    $0
    Hours/week
    1

  • Eric Ruehle

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Jeff Etherington

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gabriela Medina

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jessica Ibarra

    Director

    Total calculated
    $0
    Hours/week
    1

  • Moises Figueroa

    Director

    Total calculated
    $0
    Hours/week
    1

  • Becky Kim

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gretchen Downey

    VP of Programs

    Total calculated
    $137,813
    From this org
    $137,813
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
30 July 2024
IRS schema version
2023v5.1
Source object
202422489349300802

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