THE TEASLEY FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
THE TEASLEY FOUNDATION INC (EIN 03-0493692)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-11-12
IRS object ID
202533169349101403
Schema version
2024v5.0
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)
Return2025-11-12T09:57:09-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

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 Begin2024-01-01TaxPeriodBeginDt

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
Signature2025-11-04SignatureDt
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
Preparation2025-11-10PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Final ReturnYes (X)FinalReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$0FMVAssetsEOYAmt
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$292DividendsRevAndExpnssAmt
Dividends Net Invst Incm$292DividendsNetInvstIncmAmt
Dividends Adj Net Incm$292DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss-$405NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$7,004GrossSalesPriceAmt
Total Rev And Expnss-$113TotalRevAndExpnssAmt
Total Net Invst Incm$292TotalNetInvstIncmAmt
Total Adj Net Incm$292TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$750AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$750AccountingFeesNetInvstIncmAmt
Other Expenses Rev And Expnss$234OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$234OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$984TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$984TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$85,379ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$85,379ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$86,363TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$984TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$85,379TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$86,476ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$292AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

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

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$86,608TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$86,476ExcessRevenueOverExpensesAmt
Subtotal$132SubtotalAmt
Other Decreases$132OtherDecreasesAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
ABRDN HEALTHCARE INVESTORSP2024-01-102024-01-10$10$10
ISHARES 0-3 MONTH TREASURY BP2023-03-152024-01-05$1,004$1,004
VANGUARD SHR-TM INFLAT PROTECP2021-01-112024-01-25$5,947$6,395-$448-$448
FieldValueIRS element (for citing)
Capital Gain Net Income-$405CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 EtcYes (true)OrganizationDissolvedEtcInd
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$50,949AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$86AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$51,035TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$51,035AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$766CashDeemedCharitableAmt
Net Vl Noncharitable Assets$50,269NetVlNoncharitableAssetsAmt
Minimum Investment Return$2,513MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$2,513MinimumInvestmentReturnAmt
Distributable Before Adj$2,513DistributableBeforeAdjAmt
Distributable Before Ded$2,513DistributableBeforeDedAmt
Distributable As Adjusted$2,513DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$85,379ExpensesAndContributionsAmt
Qualifying Distributions$85,379QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$2,513DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$5,207ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$4,782ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr2$4,695ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$14,684TotalExcessDistributionCyovAmt
Qualifying Distributions$85,379QualifyingDistributionsAmt
Applied To Current Year$2,513AppliedToCurrentYearAmt
Remaining Distri From Corpus$82,866RemainingDistriFromCorpusAmt
Total Corpus$97,550TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$5,207ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$92,343ExcessDistriCyovToNextYrAmt
Excess From Year4$4,782ExcessFromYear4Amt
Excess From Year2$4,695ExcessFromYear2Amt
Excess From Current Year$82,866ExcessFromCurrentYearAmt

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 Line1MORGAN STANLEY DONOR ADVISED FDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line12400 LAKEVIEW PKWYAddressLine1Txt
Address Line2SUITE 300AddressLine2Txt
CityALPHARETTACityNm
State AbbreviationGAStateAbbreviationCd
ZIP30009ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeGENERALGrantOrContributionPurposeTxt
Amt$85,379Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$85,379TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$292ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$43ExclusionAmt
Related Or Exempt Function Incm-$448RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$335ExclusionAmt
Related Or Exempt Function Incm-$448RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty-$113TotalIncomeProducingActyAmt

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

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationEXECUTIVE DIRECTOR PASSED AWAY AND THE REMAINING ASSETS WERE TRANSFERED TO A DONOR ADVISED FUND AND THE PRIVATE FOUNDATION TERMINATED IN 2024.ExplanationTxt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX PAIDDesc
Amt$132Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BROKERAGE FEES$234$234

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