Beverly J Searles Foundation
- Assets
- $17.0m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Sandy Springs, GA
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 26-0823326
Organization Overview
Beverly J Searles Foundation is located in Sandy Springs, GA. The organization was established in 2008. According to its NTEE Classification (K36) the organization is classified as: Meals on Wheels, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beverly J Searles Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Beverly J Searles Foundation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 17.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION HAS BEEN FORMED TO PROVIDE HOUSING AND SUPPORT SERVICES FOR THE ELDERLY AND DISABLED PERSON AND THOSE WITH LOWER INCOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SERVICES TO LOW-INCOME SENIORS INCLUDING FOOD SERVICES.
THE ORGANIZATION SPONSORS THE DEVELOPMENT AND OPERATIONS OF AFFORDABLE HOUSING COMMUNITIES FOR LOW INCOME ELERLY AND HANDICAPPED PERSONS PRIMARILY UNDER THE SECTION 42 LOW-INCOME HOUSING TAX CREDIT PROGRAM. THE ORGANIZATION FUNDS CERTAIN PREDEVELOPMENT ACTIVITIES AND OVERSIGHT DURING CONSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip E Searles President | OfficerTrustee | 40 | $150,000 |
Richard D Searles Executive Director | OfficerTrustee | 10 | $94,000 |
David S Searles Jr Treasurer/director | OfficerTrustee | 10 | $0 |
G Malcolm Kilpatrick Director | Trustee | 1 | $0 |
Patricia Gadson Director | Trustee | 1 | $0 |
Brian Dickhaus Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
River North Development Development & Construction Oversight | 12/30/21 | $182,000 |
Five Points Development Llc Development & Construction Oversight | 12/30/21 | $134,000 |
Westchester Ventures Development & Construction Oversight | 12/30/21 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,861,812 |
| Investment income | $134,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,563,986 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,670,761 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,451 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,000 |
| Compensation of current officers, directors, key employees. | $75,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $500,662 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,367 |
| Payroll taxes | $55,082 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $920 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29 |
| Office expenses | $4,878 |
| Information technology | $21,547 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,604 |
| All other expenses | $0 |
| Total functional expenses | $2,377,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $825,698 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $239,679 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,965 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,212,219 |
| Investments—other securities | $0 |
| Investments—program-related | $1,000,000 |
| Intangible assets | $0 |
| Other assets | $8,751,926 |
| Total assets | $17,035,487 |
| Accounts payable and accrued expenses | $20,193 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,193 |
| Net assets without donor restrictions | $17,015,294 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,035,487 |
Grants Awarded
Over the last fiscal year, Beverly J Searles Foundation has awarded $623,488 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Decatur, GA PURPOSE: AFFORDABLE HOUSING FOR LOW-INCOME PERSONS | $332,093 |
HOUSING AUTHORITY OF DEKALB COUNTY GA PURPOSE: AFFORDABLE HOUSING FOR LOW-INCOME PERSONS | $221,395 |
GATEWAY DOMESTIC VIOLENCE CENTER PURPOSE: FAMILY AND COMMUNITY SUPPORT SERVICES | $50,000 |
Norcross, GA PURPOSE: FAMILY AND COMMUNITY SUPPORT SERVICES | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Open Hand Atlanta Inc Atlanta, GA | $17,906,863 | $15,425,420 |
Meals On Wheels Plus Of Manatee Inc Bradenton, FL | $12,489,866 | $15,533,458 |
Senior Catering Inc Little Mountain, SC | $4,479,106 | $8,374,449 |
Meals On Wheels Of Wake County Inc Raleigh, NC | $5,129,851 | $4,218,952 |
Meals On Wheels Of Greenville Inc Greenville, SC | $3,666,350 | $5,183,052 |
Meals On Wheels Of Tampa Inc Tampa, FL | $11,387,714 | $5,719,002 |
Meals On Wheels Etc Inc Sanford, FL | $1,746,744 | $3,474,524 |
Beverly J Searles Foundation Sandy Springs, GA | $17,035,487 | $5,670,761 |
Mobile Meal Service Of Spartanburg County Inc Spartanburg, SC | $7,192,310 | $3,468,252 |
Meals On Wheels Of Durham Inc Durham, NC | $2,057,689 | $2,671,064 |
Food For Life Network Inc Miami, FL | $787,350 | $1,749,180 |
Meals On Wheels Of Polk County Inc Winter Haven, FL | $1,200,837 | $1,204,930 |