THE TEASLEY FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
THE TEASLEY FOUNDATION INC (EIN 03-0493692)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-06-24
IRS object ID
202131759349100318
Schema version
2020v4.0
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)
Return2021-06-24T13:31:57-05:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

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 Line1836 SYCAMORE STAddressLine1Txt
CityDECATURCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30030ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

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
Signature2021-04-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

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
Preparation2021-06-07PreparationDt
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$107,243FMVAssetsEOYAmt
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$1InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$1,843DividendsRevAndExpnssAmt
Dividends Net Invst Incm$1,843DividendsNetInvstIncmAmt
Dividends Adj Net Incm$1,843DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$4,912NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$70,091GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$22CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$6,756TotalRevAndExpnssAmt
Total Net Invst Incm$1,866TotalNetInvstIncmAmt
Total Adj Net Incm$1,844TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$650AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$650AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$22TaxesRevAndExpnssAmt
Taxes Net Invst Incm$22TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$1,256OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,256OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$1,928TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$1,928TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$10,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$10,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$11,928TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$1,928TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$10,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$5,172ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$1,844AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$2,363SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$491SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$491SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$85,325CorporateStockBOYAmt
Corporate Stock EOY$82,025CorporateStockEOYAmt
Corporate Stock EOYFMV$106,752CorporateStockEOYFMVAmt
Total Assets BOY$87,688TotalAssetsBOYAmt
Total Assets EOY$82,516TotalAssetsEOYAmt
Total Assets EOYFMV$107,243TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$87,688RetainedEarningBOYAmt
Retained Earning EOY$82,516RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$87,688TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$82,516TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$87,688TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$82,516TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$87,688TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$5,172ExcessRevenueOverExpensesAmt
Subtotal$82,516SubtotalAmt
Tot Net Ast Or Fund Balances EOY$82,516TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$22CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt

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 LANECANTONGA30114DIRECTOR0.10$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$104,523AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,426AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$105,949TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$105,949AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,589CashDeemedCharitableAmt
Net Vl Noncharitable Assets$104,360NetVlNoncharitableAssetsAmt
Minimum Investment Return$5,218MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$5,218MinimumInvestmentReturnAmt
Distributable Before Adj$5,218DistributableBeforeAdjAmt
Distributable Before Ded$5,218DistributableBeforeDedAmt
Distributable As Adjusted$5,218DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

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

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$5,218DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$933ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$1,421ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$2,437ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$6,979ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$5,207ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$16,977TotalExcessDistributionCyovAmt
Qualifying Distributions$10,000QualifyingDistributionsAmt
Applied To Current Year$5,218AppliedToCurrentYearAmt
Remaining Distri From Corpus$4,782RemainingDistriFromCorpusAmt
Total Corpus$21,759TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$933ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$20,826ExcessDistriCyovToNextYrAmt
Excess From Year4$1,421ExcessFromYear4Amt
Excess From Year3$2,437ExcessFromYear3Amt
Excess From Year2$6,979ExcessFromYear2Amt
Excess From Year1$5,207ExcessFromYear1Amt
Excess From Current Year$4,782ExcessFromCurrentYearAmt

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 Line1MA TEASLEY MIDDLE SCHOOL FOUNDATIONBusinessNameLine1Txt
Business Name Line2MA EASLEY MIDDLE SCHOOL FOUNDATIONBusinessNameLine2Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1151 HICKORY LOG DRIVEAddressLine1Txt
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

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

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

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,843RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$4,912RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$6,756RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$6,756TotalIncomeProducingActyAmt

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$650Amt
Net Investment Income$650NetInvestmentIncomeAmt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (2 entries)

AssetAssetDescAcquiredAcquiredDtHow AcquiredHowAcquiredTxtSoldSoldDtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
MORGAN STANLEY ST CAP GAINS2020-01PURCHASE2020-12$51,735$49,528$2,207
MORGAN STANLEY LT CAP GAINS2018-01PURCHASE2020-12$18,334$15,651$2,683

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSTOCK AND ETFSStockNm
EOY Book Value$82,025EOYBookValueAmt
EOYFMV$106,752EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BROKERAGE FEES$1,256$1,256

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$22Amt
Net Investment Income$22NetInvestmentIncomeAmt

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