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DEBS AND VERNELLE GAMBLIN FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
DEBS AND VERNELLE GAMBLIN FOUNDATION (EIN 74-2829931)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-07-06
IRS object ID
201541879349100709
Schema version
2014v5.0
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)
Return2015-07-06T14:28:50-05:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN742067021PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LINZY AND THIGPENBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 428AddressLine1Txt
CityTEMPLECityNm
State AbbreviationTXStateAbbreviationCd
ZIP765030428ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN742829931EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1DEBS AND VERNELLE GAMBLIN FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDEBSBusinessNameControlTxt
Phone2547324507PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 CASTLE BLUFF CIRCLEAddressLine1Txt
CityWACOCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76712ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDEBS GAMBLINPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2547324507PhoneNum
Signature2015-06-18SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJIM LINZYPreparerPersonNm
PTINP00018121PTIN
Phone2547731663PhoneNum
Preparation2015-06-17PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-04-25 22:37:26ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$38,148FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,000ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$275DividendsRevAndExpnssAmt
Dividends Net Invst Incm$275DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$1,831NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,831GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,831CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$3,106TotalRevAndExpnssAmt
Total Net Invst Incm$2,106TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Taxes Rev And Expnss$13TaxesRevAndExpnssAmt
Taxes Net Invst Incm$0TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$0TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$13TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$2,495ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$2,495ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,508TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,495TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$598ExcessRevenueOverExpensesAmt
Net Investment Income$2,106NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,775CashBOYAmt
Cash EOY$1,267CashEOYAmt
Cash EOYFMV$1,267CashEOYFMVAmt
Corporate Stock BOY$32,569CorporateStockBOYAmt
Corporate Stock EOY$34,675CorporateStockEOYAmt
Corporate Stock EOYFMV$36,881CorporateStockEOYFMVAmt
Total Assets BOY$35,344TotalAssetsBOYAmt
Total Assets EOY$35,942TotalAssetsEOYAmt
Total Assets EOYFMV$38,148TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$0CapitalStockBOYAmt
Capital Stock EOY$0CapitalStockEOYAmt
Additional Paid In Capital BOY$0AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$0AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$35,344RetainedEarningBOYAmt
Retained Earning EOY$35,942RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$35,344TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$35,942TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$35,344TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$35,942TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$35,344TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$598ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$35,942SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$35,942TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyCAPITAL GAINS DIVIDENDSPropertyDesc
How AcquiredPHowAcquiredCd
Gross Sales Price$1,831GrossSalesPriceAmt
Gain Or Loss$1,831GainOrLossAmt
Gains Minus Excess Or Losses$1,831GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$1,831CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxYes (1)LiableSection4942TaxInd

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$42InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$42SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$42TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$42TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateTXOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (1)PrivateOperatingFoundationInd
New Substantial ContributorsYes (1)NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1DEBS GAMBLINBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2547324507PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11120 CASTLE BLUFF CIRCLEAddressLine1Txt
CityWACOCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76712ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
DEBS GAMBLIN
1120 CASTLE BLUFFWACOTX76712PRESIDENT/DIRECTOR2.00$0$0$0
VERNELLE GAMBLIN
1120 CASTLE BLUFFWACOTX76712SECRETARY/DIRECTOR2.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1SUPPORT OF CHARITABLE ORGANIZATIONSDescription1Txt
Expenses1$0Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$38,403AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$2,641AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$41,044TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$41,044AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$616CashDeemedCharitableAmt
Net Vl Noncharitable Assets$40,428NetVlNoncharitableAssetsAmt
Minimum Investment Return$2,021MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,495ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$2,495QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$2,495AdjustedQualifyingDistriAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j5Yes (X)Section4942j5Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$2,495CurrentYearAmt
Year1$4,800Year1Amt
Year2$7,800Year2Amt
Year3$6,000Year3Amt
Total$21,095TotalAmt

Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Year1$0Year1Amt
Year2$0Year2Amt
Year3$0Year3Amt
Total$0TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$2,495CurrentYearAmt
Year1$4,800Year1Amt
Year2$7,800Year2Amt
Year3$6,000Year3Amt
Total$21,095TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$1,347CurrentYearAmt
Year1$717Year1Amt
Year2$1,051Year2Amt
Year3$1,071Year3Amt
Total$4,186TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CAL FARLEYS BOYS HOME
PO BOX 1890AMARILLOTX79174NONE501C3CHARITABLE$275
TRINITY HARVEST CHURCH
1150 E SHANNON RDSULPHUR SPRINGSTX75482NONE501C3CHARITABLE$2,220
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,495TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Business522100BusinessCd
Unrelated Business Taxbl Incm$275UnrelatedBusinessTaxblIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Business522100BusinessCd
Unrelated Business Taxbl Incm$1,831UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$2,106UnrelatedBusinessTaxblIncmAmt
Exclusion$0ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$2,106TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1DEBS AND VERNELLE GAMBLINBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line11120 CASTLE BLUFF CIRCLEAddressLine1Txt
CityWACOCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76712ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
20000 PROTEOME$10,660$8,420
FUNDAMENTAL INVESTORS$24,015$28,461

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonDEBS AND VERNELLE GAMBLINPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 CASTLE BLUFFAddressLine1Txt
CityWACOCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76712ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$13Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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