Nonprofit · EIN 81-0698838
SALT WATER FUND
Tax-exempt · LOUISVILLE, KY 40223
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,084,789 | $2,601,415 | -$1,516,626 | $8,687,365 | $0 | $8,687,365 |
| December 31, 2023 | 990-PF | $257,156 | $1,075,172 | -$818,016 | $10,473,417 | $0 | $10,473,417 |
| September 30, 2023 | 990-PF | -$259,809 | $4,466,934 | -$4,726,743 | $11,294,611 | $0 | $11,294,611 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $161,876
- Interest
- $297,207
- Net rental income
- -$64,623
- Net gain from sales of assets
- $625,326
- Other income
- $380
Expenses
- Grants and similar amounts paid
- $2,338,645
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $2,338,645
- Excise tax on investment income
- $15,079
Balance sheet and other
- Total assets, start of year
- $10,473,417
- Total assets, end of year
- $8,687,365
- Total liabilities, end of year
- $0
- Net assets, end of year
- $8,687,365
- Fair market value of assets
- $12,064,546
- Qualifying distributions
- $2,338,645
- Net investment income
- $1,084,789
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 |
|---|---|---|---|
| JAMES S MAHAN III 10200 FOREST GREEN BLVD SUITE 603, LOUISVILLE, KY 40223 | CHAIRMAN | 0 | $0 |
| MARGUERITE D MAHAN 10200 FOREST GREEN BLVD SUITE 603, LOUISVILLE, KY 40223 | SECRETARY | 0 | $0 |
990-PF for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES S MAHAN III 10200 FOREST GREEN BLVD SUITE 606, LOUISVILLE, KY 40223 | CHAIRMAN | 0 | $0 |
| MARGUERITE D MAHAN 10200 FOREST GREEN BLVD SUITE 606, LOUISVILLE, KY 40223 | SECRETARY | 0 | $0 |
990-PF for the year ended September 30, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES S MAHAN III 110 S STRATFORD RD, WINSTON SALEM, NC 27104 | CHAIRMAN | 0 | $0 |
| MARGUERITE D MAHAN 110 S STRATFORD RD, WINSTON SALEM, NC 27104 | SECRETARY | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 10200 FOREST GREEN BLVD STE 603, LOUISVILLE, KY 40223-5155
- Signed the 990-PF
- JAMES S MAHAN III, CHAIRMAN
- Phone
- (704) 383-0129
- Return prepared by
- LEMASTUS MCDONOUGH PLLC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. 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
- 81-0698838
- 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
- 2018
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $8,687,365
- Income (IRS master file)
- $3,888,616
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $1,084,789 | $2,601,415 | $8,687,365 | XML |
| 990-PF | December 2023 | $257,156 | $1,075,172 | $10,473,417 | XML |
| 990-PF | September 2023 | -$259,809 | $4,466,934 | $11,294,611 | XML |
| 990-PF | September 2022 | – | – | – | IRS |
| 990-PF | September 2021 | – | – | – | IRS |
| 990-PF | September 2020 | – | – | – | IRS |
| 990-PF | September 2018 | – | – | – | 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 81-0698838).
Questions about SALT WATER FUND
- What is the EIN of SALT WATER FUND?
- The employer identification number (EIN) of SALT WATER FUND is 81-0698838.
- Is SALT WATER FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to SALT WATER FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does SALT WATER FUND file?
- Form 990-PF. Private foundations file every year.
- When is the next return of SALT WATER FUND 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 SALT WATER FUND last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of SALT WATER FUND?
- The 990-PF for the year ended December 31, 2024 lists 2 people; 0 received compensation from the organization.
- How much revenue does SALT WATER FUND have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,084,789, expenses of $2,601,415 and total assets of $8,687,365 at year end.
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