THE TEASLEY FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
THE TEASLEY FOUNDATION INC (EIN 03-0493692)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-12-18
IRS object ID
202333529349100203
Schema version
2022v5.0
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)
Return2023-12-18T11:07:11-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

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 Begin2022-01-01TaxPeriodBeginDt

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
Signature2023-12-13SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstWILLIAMPersonFirstNm
Person LastTEASLEYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANIEL C LEEPreparerPersonNm
PTINP00019102PTIN
Phone4043719846PhoneNum
Preparation2023-12-14PreparationDt
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$93,511FMVAssetsEOYAmt
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$2,625DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,625DividendsNetInvstIncmAmt
Dividends Adj Net Incm$2,625DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$1,256NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$70,336GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,256CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$3,881TotalRevAndExpnssAmt
Total Net Invst Incm$3,881TotalNetInvstIncmAmt
Total Adj Net Incm$2,625TotalAdjNetIncmAmt
Taxes Rev And Expnss$29TaxesRevAndExpnssAmt
Taxes Net Invst Incm$29TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$1,357OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,357OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$1,386TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$1,386TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$10,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$10,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$11,386TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$1,386TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$10,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$7,505ExcessRevenueOverExpensesAmt
Net Investment Income$2,495NetInvestmentIncomeAmt
Adjusted Net Income$2,625AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,101SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$701SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$701SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$95,008CorporateStockBOYAmt
Corporate Stock EOY$86,050CorporateStockEOYAmt
Corporate Stock EOYFMV$92,810CorporateStockEOYFMVAmt
Total Assets BOY$96,109TotalAssetsBOYAmt
Total Assets EOY$86,751TotalAssetsEOYAmt
Total Assets EOYFMV$93,511TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$96,109RetainedEarningBOYAmt
Retained Earning EOY$86,751RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$96,109TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$86,751TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$96,109TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$86,751TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$96,109TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$7,505ExcessRevenueOverExpensesAmt
Other Increases$131OtherIncreasesAmt
Subtotal$88,735SubtotalAmt
Other Decreases$1,984OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$86,751TotNetAstOrFundBalancesEOYAmt

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 COVEREDP2021-06-282022-05-23$32,879$36,534-$3,655-$3,655
MORGAN STANLEY LT COVEREDP2021-01-112022-05-23$37,457$32,546$4,911$4,911
FieldValueIRS element (for citing)
Capital Gain Net Income$1,256CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$35InvestmentIncomeExciseTaxAmt
Subtotal$35SubtotalAmt
Tax Based On Investment Income$35TaxBasedOnInvestmentIncomeAmt
Tax Due$35TaxDueAmt

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$107,522AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$901AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$108,423TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$108,423AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,626CashDeemedCharitableAmt
Net Vl Noncharitable Assets$106,797NetVlNoncharitableAssetsAmt
Minimum Investment Return$5,340MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$5,340MinimumInvestmentReturnAmt
Tax Based On Investment Income$35TaxBasedOnInvestmentIncomeAmt
Total Tax$35TotalTaxAmt
Distributable Before Adj$5,305DistributableBeforeAdjAmt
Distributable Before Ded$5,305DistributableBeforeDedAmt
Distributable As Adjusted$5,305DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$10,000ExpensesAndContributionsAmt
Qualifying Distributions$10,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$5,305DistributableAsAdjustedAmt
Excess Distribution Cyov Yr4$5,291ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$5,207ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$4,782ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$15,280TotalExcessDistributionCyovAmt
Qualifying Distributions$10,000QualifyingDistributionsAmt
Applied To Current Year$5,305AppliedToCurrentYearAmt
Remaining Distri From Corpus$4,695RemainingDistriFromCorpusAmt
Total Corpus$19,975TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$19,975ExcessDistriCyovToNextYrAmt
Excess From Year4$5,291ExcessFromYear4Amt
Excess From Year3$5,207ExcessFromYear3Amt
Excess From Year2$4,782ExcessFromYear2Amt
Excess From Current Year$4,695ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1MARIE ARCHER TEASLEY MIDDLE SCHOOLBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1151 HICKORY LOG DRAddressLine1Txt
CityCANTONCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30114ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeMIDDLE SCHOOLGrantOrContributionPurposeTxt
Amt$10,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$10,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,625RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,256RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3,881RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$3,881TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSTOCK AND ETFSStockNm
EOY Book Value$86,050EOYBookValueAmt
EOYFMV$92,810EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX PAIDDesc
Amt$1,984Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BROKERAGE FEES$1,357$1,357

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescTO ADJUST BASIS FOR RETURN OF CAPITALDesc
Amt$131Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$29Amt
Net Investment Income$29NetInvestmentIncomeAmt

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