THE TEASLEY FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
THE TEASLEY FOUNDATION INC (EIN 03-0493692)
Tax period
2021-01-01 to 2021-12-31
Filed
2023-12-13
IRS object ID
202323479349100202
Schema version
2021v4.0
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)
Return2023-12-13T10:20:50-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

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 Begin2021-01-01TaxPeriodBeginDt

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
Signature2023-12-05SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstWILLIAMPersonFirstNm
Person LastTEASLEYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANIEL C LEEPreparerPersonNm
PTINP00019102PTIN
Phone4043719846PhoneNum
Preparation2023-12-12PreparationDt
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$123,336FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$2,430DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,430DividendsNetInvstIncmAmt
Dividends Adj Net Incm$2,430DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$9,876NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$60,341GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$9,876CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$3,864NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$12,306TotalRevAndExpnssAmt
Total Net Invst Incm$12,306TotalNetInvstIncmAmt
Total Adj Net Incm$6,294TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,300AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,300AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$55TaxesRevAndExpnssAmt
Taxes Net Invst Incm$55TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$1,430OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,430OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$2,785TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,785TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,785TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,785TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$9,521ExcessRevenueOverExpensesAmt
Net Investment Income$9,521NetInvestmentIncomeAmt
Adjusted Net Income$6,294AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$491SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,101SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,101SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$82,025CorporateStockBOYAmt
Corporate Stock EOY$95,008CorporateStockEOYAmt
Corporate Stock EOYFMV$122,235CorporateStockEOYFMVAmt
Total Assets BOY$82,516TotalAssetsBOYAmt
Total Assets EOY$96,109TotalAssetsEOYAmt
Total Assets EOYFMV$123,336TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$82,516RetainedEarningBOYAmt
Retained Earning EOY$96,109RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$82,516TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$96,109TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$82,516TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$96,109TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$82,516TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$9,521ExcessRevenueOverExpensesAmt
Other Increases$4,079OtherIncreasesAmt
Subtotal$96,116SubtotalAmt
Other Decreases$7OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$96,109TotNetAstOrFundBalancesEOYAmt

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 ST COVEREDP2020-09-142021-01-11$29,937$26,073$3,864$3,864
MORGAN STANLEY LT COVEREDP2018-09-202021-01-11$30,022$24,392$5,630$5,630
FieldValueIRS element (for citing)
Capital Gain Net Income$9,876CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$3,864NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$132InvestmentIncomeExciseTaxAmt
Subtotal$132SubtotalAmt
Tax Based On Investment Income$132TaxBasedOnInvestmentIncomeAmt
Tax Due$132TaxDueAmt

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$114,484AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$796AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$115,280TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$115,280AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,729CashDeemedCharitableAmt
Net Vl Noncharitable Assets$113,551NetVlNoncharitableAssetsAmt
Minimum Investment Return$5,678MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$5,678MinimumInvestmentReturnAmt
Tax Based On Investment Income$132TaxBasedOnInvestmentIncomeAmt
Total Tax$132TotalTaxAmt
Distributable Before Adj$5,546DistributableBeforeAdjAmt
Distributable Before Ded$5,546DistributableBeforeDedAmt
Distributable As Adjusted$5,546DistributableAsAdjustedAmt

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$5,546DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$1,421ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,437ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$6,979ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$5,207ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$4,782ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$20,826TotalExcessDistributionCyovAmt
Excess Distri Cyov App CY Corpus$5,546ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$5,546ExcessDistributionCyovAppCYAmt
Total Corpus$15,280TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$15,280ExcessDistriCyovToNextYrAmt
Excess From Year3$5,291ExcessFromYear3Amt
Excess From Year2$5,207ExcessFromYear2Amt
Excess From Year1$4,782ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

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

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,430RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$9,876RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$12,306RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$12,306TotalIncomeProducingActyAmt

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$1,300Amt
Net Investment Income$1,300NetInvestmentIncomeAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSTOCK AND ETFSStockNm
EOY Book Value$95,008EOYBookValueAmt
EOYFMV$122,235EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX PAIDDesc
Amt$7Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BROKERAGE FEES$1,430$1,430

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescTO ADJUST BASIS TO ACTUAL PER MORGAN STANLEYDesc
Amt$4,079Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$55Amt
Net Investment Income$55NetInvestmentIncomeAmt

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