THE THOMAS L PEARSON AND THE PEARSON FAMILY MEMBERS FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: THE THOMAS L PEARSON AND THE PEARSON FAMILY MEMBERS FOUNDATION (EIN 46-3912215)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-03-13
IRS object ID: 202420739349100507
Schema version: 2023v4.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Depreciation Schedule
Legal Fees Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-03-13T09:15:04-05:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Foundation Source	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	3333 New Hyde Park Rd Ste 406	AddressLine1Txt
City	New Hyde Park	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	11042	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	463912215	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	The Thomas L Pearson and The Pearson Family	BusinessNameLine1Txt
Business Name Line2	Members Foundation	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
In Care Of	% Foundation Source	InCareOfNm
Business Name Control	THOM	BusinessNameControlTxt
Phone	8008391754	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	Foundation Source 501 Silverside Rd	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	DE	StateAbbreviationCd
ZIP	198091377	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	THOMAS PEARSON	PersonNm
Person Title	VICE PRESIDENT	PersonTitleTxt
Phone	8008391754	PhoneNum
Signature	2024-02-27	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	THOMAS	PersonFirstNm
Person Last	PEARSON	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Jeffrey D Haskell	PreparerPersonNm
PTIN	P01345770	PTIN
Phone	8008391754	PhoneNum

Additional Filer Information AdditionalFilerInformation

Field	Value	IRS element (for citing)
Trusted Customer		TrustedCustomerGrp

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$229,575	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$0	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$53,645	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$53,645	InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$53,645	TotalRevAndExpnssAmt
Total Net Invst Incm	$53,645	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss	$1,439,136	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$0	LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm	$0	LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl	$1,439,136	LegalFeesDsbrsChrtblAmt
Taxes Rev And Expnss	$21,500	TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss	$10,628	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$10,628	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$1,471,264	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$0	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$1,449,764	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$30,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$30,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$1,501,264	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$0	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$1,479,764	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$1,447,619	ExcessRevenueOverExpensesAmt
Net Investment Income	$53,645	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$1,677,194	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$229,575	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$229,575	SavAndTempCashInvstEOYFMVAmt
Total Assets BOY	$1,677,194	TotalAssetsBOYAmt
Total Assets EOY	$229,575	TotalAssetsEOYAmt
Total Assets EOYFMV	$229,575	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$1,677,194	RetainedEarningBOYAmt
Retained Earning EOY	$229,575	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$1,677,194	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$229,575	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$1,677,194	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$229,575	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$1,677,194	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$1,447,619	ExcessRevenueOverExpensesAmt
Subtotal	$229,575	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$229,575	TotNetAstOrFundBalancesEOYAmt

Field	Value	IRS element (for citing)
Cap Gains Loss Tx Invst Incm Detail		CapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$746	InvestmentIncomeExciseTaxAmt
Subtotal	$746	SubtotalAmt
Tax Based On Investment Income	$746	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$11,789	EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce	$0	ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits	$11,789	TotalPaymentsAndCreditsAmt
Form2220 Attached	Yes (X)	Form2220AttachedInd
Es Penalty	$0	EsPenaltyAmt
Overpayment	$11,043	OverpaymentAmt
Applied To ES Tax	$800	AppliedToESTaxAmt
Refund	$10,243	RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	DE	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	Foundation Source	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8008391754	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	501 Silverside Road Suite 123	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	DE	StateAbbreviationCd
ZIP	198091377	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
David L Pearson
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	VP	1.0	$0	$0	$0
Philip K Pearson
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	VP	1.0	$0	$0	$0
Thomas L Pearson
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	Dir, Treas, COB, SEC, VP	25.0	$0	$0	$0
Timothy R Pearson
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	Dir, Pres	30.0	$0	$0	$0

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (4 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Service TypeServiceTypeTxt	CompensationCompensationAmt
Conner & Winters
15 East Fifth Street	Tulsa	OK	74103	LEGAL	$697,454
Daniel Shapiro
1546 Knollwood Lane	Highland Park	IL	60035	LEGAL	$452,185
Wyche P A
Post Office Box 728	Greenville	SC	296020728	LEGAL	$223,753
BDO
PO Box 642743	Pittsburgh	PA	152642743	LEGAL	$50,595

Field	Value	IRS element (for citing)
Summary Of Direct Chrtbl Acty		SummaryOfDirectChrtblActyGrp
Sum Of Program Related Invst		SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$1,212,988	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$1,212,988	TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$1,212,988	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$18,195	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$1,194,793	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$59,740	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$59,740	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$746	TaxBasedOnInvestmentIncomeAmt
Total Tax	$746	TotalTaxAmt
Distributable Before Adj	$58,994	DistributableBeforeAdjAmt
Distributable Before Ded	$58,994	DistributableBeforeDedAmt
Distributable As Adjusted	$58,994	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$1,479,764	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$0	CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test	$0	SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test	$0	SetAsideCashDistriTestAmt
Qualifying Distributions	$1,479,764	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$58,994	DistributableAsAdjustedAmt
Prior Year1	2021	PriorYear1Yr
Prior Year2	2020	PriorYear2Yr
Prior Year3	2019	PriorYear3Yr
Excess Distribution Cyov Yr5	$1,389,201	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$2,640,995	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$4,364,032	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$2,884,106	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$1,118,630	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$12,396,964	TotalExcessDistributionCyovAmt
Qualifying Distributions	$1,479,764	QualifyingDistributionsAmt
Applied To Current Year	$58,994	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$1,420,770	RemainingDistriFromCorpusAmt
Total Corpus	$13,817,734	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5	$1,389,201	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$12,428,533	ExcessDistriCyovToNextYrAmt
Excess From Year4	$2,640,995	ExcessFromYear4Amt
Excess From Year3	$4,364,032	ExcessFromYear3Amt
Excess From Year2	$2,884,106	ExcessFromYear2Amt
Excess From Year1	$1,118,630	ExcessFromYear1Amt
Excess From Current Year	$1,420,770	ExcessFromCurrentYearAmt

Field	Value	IRS element (for citing)
Private Operating Foundations		PrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	Thomas L Pearson	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
ARLINGTON COMMUNITY CHURCH
335 N 4TH ST PO BOX 187	ARLINGTON	NE	68002	N/A	PC	ANNUAL CHRISTMAS FUND FOR GIVING TO CHILDREN THAT ARE IN NEED IN THE LOCAL CHURCH AND LOCAL COMMUNITY.	$2,500
PARK CITY PERFORMANCES
PO BOX 3119	PARK CITY	UT	84060	N/A	PC	General & Unrestricted	$5,000
TAG RANCH INC
PO BOX 681448	PARK CITY	UT	84068	N/A	PC	General & Unrestricted	$22,500

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$30,000	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Field	Value	IRS element (for citing)
Fees Contracts From Govt Ag		FeesContractsFromGovtAgGrp
Membership Dues And Assmnt		MembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$53,645	ExclusionAmt

Field	Value	IRS element (for citing)
Dividends And Interest From Sec Dtl		DividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd Prop		NetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd Prop		NetRntlIncmReNotDebtFincdProp
Net Rental Income Personal Prop		NetRentalIncomePersonalPropGrp
Other Investment Income		OtherInvestmentIncomeGrp
Gain Sales Ast Oth Than Invntry		GainSalesAstOthThanInvntryGrp
Net Income Loss From Special Evt		NetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of Invntry		GrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Exclusion	$53,645	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$53,645	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Depreciation Schedule DepreciationSchedule

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	General Consultations	CategoryTxt
Legal Fees	$1,439,136	LegalFeesAmt
Disbursements Charitable Prps	$1,439,136	DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees	$10,603	$10,603
State or Local Filing Fees	$25	$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxt	AmtAmt
990-PF Estimated Tax for 2023	$11,500
990-PF Extension for 2022	$10,000