Nonprofit · EIN 83-2297329
JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION
Tax-exempt · DRAPER, UT 84020
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $5,461,459 | $4,998,749 | $462,710 | $101,248,017 | $148,564 | $101,099,453 |
| December 31, 2023 | 990-PF | $1,537,469 | $4,346,459 | -$2,808,990 | $95,501,176 | $36,908 | $95,464,268 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $1,960,827
- Net gain from sales of assets
- $3,475,969
- Other income
- $24,663
Expenses
- Grants and similar amounts paid
- $3,736,000
- Compensation of officers, directors and key employees
- $56,000
- Disbursements for charitable purposes
- $4,338,403
- Excise tax on investment income
- $103,443
Balance sheet and other
- Total assets, start of year
- $95,501,176
- Total assets, end of year
- $101,248,017
- Total liabilities, end of year
- $148,564
- Net assets, end of year
- $101,099,453
- Fair market value of assets
- $101,248,017
- Qualifying distributions
- $6,572,981
- Net investment income
- $8,099,181
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 |
|---|---|---|---|
| JOSEPH SORENSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | PRESIDENT/DIRECTOR | 5 | $28,000 |
| KATHLEEN SORENSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | VICE PRESIDENT/DIRECTOR | 4 | $28,000 |
| ALAN ROBINSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | TREASURER | 4 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALAN ROBINSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | TREASURER | 4 | $100,664 |
| JOSEPH SORENSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | PRESIDENT/DIRECTOR | 5 | $28,000 |
| KATHLEEN SORENSON 14658 BANGERTER PARKWAY STE 420, DRAPER, UT 84020 | VICE PRESIDENT/DIRECTOR | 4 | $28,000 |
Address and contacts
- Address (IRS master file)
- 14658 S BANGERTER PKWY STE 420, DRAPER, UT 84020-5027
- In care of
- % BRENT ANDREWSEN
- Signed the 990-PF
- JOSEPH SORENSON, DIRECTOR
- Phone
- (801) 268-4331
- Return prepared by
- EIDE BAILLY LLP
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
- 83-2297329
- 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 (T20)
- Assets (IRS master file)
- $101,248,017
- Income (IRS master file)
- $7,990,104
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $5,461,459 | $4,998,749 | $101,248,017 | XML |
| 990-PF | December 2023 | $1,537,469 | $4,346,459 | $95,501,176 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 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 83-2297329).
Questions about JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION
- What is the EIN of JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION?
- The employer identification number (EIN) of JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION is 83-2297329.
- Is JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of JOSEPH AND KATHLEEN SORENSON LEGACY 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 JOSEPH AND KATHLEEN SORENSON LEGACY 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 are the officers and directors of JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 3 people; 2 received compensation from the organization, the highest $28,000 (JOSEPH SORENSON, PRESIDENT/DIRECTOR).
- How much revenue does JOSEPH AND KATHLEEN SORENSON LEGACY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $5,461,459, expenses of $4,998,749 and total assets of $101,248,017 at year end.
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