THE TEASLEY FOUNDATION INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
THE TEASLEY FOUNDATION INC (EIN 03-0493692)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-11
IRS object ID
202443169349101484
Schema version
2023v5.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-11T15:01:45-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN743106418PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DAN LEE & ASSOCIATES PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11355 TERRELL MILL RD SE BLDG 1474-1AddressLine1Txt
CityMARIETTACityNm
State AbbreviationGAStateAbbreviationCd
ZIP30067ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN030493692EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE TEASLEY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlTEASBusinessNameControlTxt
Phone4043324152PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 1115AddressLine1Txt
CityCANTONCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30169ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonWILLIAM A TEASLEYPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone4043324152PhoneNum
Signature2024-10-23SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANIEL C LEEPreparerPersonNm
PTINP00019102PTIN
Phone4043719846PhoneNum
Preparation2024-11-05PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$102,069FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$33InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$33InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$33InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$2,388DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,388DividendsNetInvstIncmAmt
Dividends Adj Net Incm$2,388DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss-$946NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$40,012GrossSalesPriceAmt
Total Rev And Expnss$1,475TotalRevAndExpnssAmt
Total Net Invst Incm$2,421TotalNetInvstIncmAmt
Total Adj Net Incm$2,421TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$750AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$750AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$1TaxesRevAndExpnssAmt
Taxes Net Invst Incm$1TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$1,208OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,208OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$1,959TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$1,959TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,959TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$1,959TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$484ExcessRevenueOverExpensesAmt
Net Investment Income$462NetInvestmentIncomeAmt
Adjusted Net Income$2,421AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$701SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$172SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$172SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$86,050CorporateStockBOYAmt
Corporate Stock EOY$86,436CorporateStockEOYAmt
Corporate Stock EOYFMV$101,897CorporateStockEOYFMVAmt
Total Assets BOY$86,751TotalAssetsBOYAmt
Total Assets EOY$86,608TotalAssetsEOYAmt
Total Assets EOYFMV$102,069TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$86,751RetainedEarningBOYAmt
Retained Earning EOY$86,608RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$86,751TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$86,608TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$86,751TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$86,608TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$86,751TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$484ExcessRevenueOverExpensesAmt
Other Increases$376OtherIncreasesAmt
Subtotal$86,643SubtotalAmt
Other Decreases$35OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$86,608TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
MORGAN STANLEY - LT COVP2021-12-312023-12-31$7,909$8,423-$514-$514
MORGAN STANLEY - ST COVP2022-12-312023-12-31$32,088$32,535-$447-$447
FieldValueIRS element (for citing)
Capital Gain Net Income-$946CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$6InvestmentIncomeExciseTaxAmt
Subtotal$6SubtotalAmt
Tax Based On Investment Income$6TaxBasedOnInvestmentIncomeAmt
Tax Due$6TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateGAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrfalseComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksWILLIAM A TEASLEYIndividualWithBooksNm
Phone4043324152PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1141 BREEZE HILL LANEAddressLine1Txt
CityCANTONCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30114ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
WILLIAM A TEASLEY
141 BREEZE HILL LANECANTONGA30114DIRECTOR000.00$0$0$0
SYLVIA C TEASLEY
141 BREEZE HILL LANECANTONGA30114DIRECTOR000.00$0$0$0
SARA E T TROPE
2110 OAKVIEW ROAD SEATLANTAGA30317DIRECTOR000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$97,354AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$437AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$97,791TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$97,791AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,467CashDeemedCharitableAmt
Net Vl Noncharitable Assets$96,324NetVlNoncharitableAssetsAmt
Minimum Investment Return$4,816MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$4,816MinimumInvestmentReturnAmt
Tax Based On Investment Income$6TaxBasedOnInvestmentIncomeAmt
Total Tax$6TotalTaxAmt
Distributable Before Adj$4,810DistributableBeforeAdjAmt
Distributable Before Ded$4,810DistributableBeforeDedAmt
Distributable As Adjusted$4,810DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$0ExpensesAndContributionsAmt
Qualifying Distributions$0QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$4,810DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$5,291ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$5,207ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$4,782ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1$4,695ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$19,975TotalExcessDistributionCyovAmt
Excess Distri Cyov App CY Corpus$4,810ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$4,810ExcessDistributionCyovAppCYAmt
Total Corpus$15,165TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$481ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$14,684ExcessDistriCyovToNextYrAmt
Excess From Year4$5,207ExcessFromYear4Amt
Excess From Year3$4,782ExcessFromYear3Amt
Excess From Year1$4,695ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$33RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,388RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion-$961ExclusionAmt
Related Or Exempt Function Incm$15RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion-$961ExclusionAmt
Related Or Exempt Function Incm$2,436RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,475TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$750Amt
Net Investment Income$750NetInvestmentIncomeAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSTOCK AND ETFSStockNm
EOY Book Value$86,436EOYBookValueAmt
EOYFMV$101,897EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX PAIDDesc
Amt$35Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BROKERAGE FEES$1,208$1,208

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescTO ADJ BASIS FOR RETURN OF CAPITALDesc
Amt$376Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$1Amt
Net Investment Income$1NetInvestmentIncomeAmt

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