Beverly J Searles Foundation
- Assets
- $13.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 12
- Location
- Sandy Springs, GA
- Founding
- 03/2008
- Data as of
- 12/2023
- 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. As of 12/2023, Beverly J Searles Foundation employed 12 individuals. 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 12/2023, Beverly J Searles Foundation generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 12.7% per year over the past 9 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
2023
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 ELDERLY AND HANDICAPPED PERSONS PRIMARILY UNDER THE SECTION 42 LOW-INCOME HOUSING TAX CREDIT PROGRAM. THE ORGANIZATION FUNDS CERTAIN PREDEVELOPMENT ACTIVITIES AND PROVIDES OVERSIGHT DURING PRE-DEVELOPMENT AND CONSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip E Searles President | OfficerTrustee | 40 | $148,967 |
G Malcolm Kilpatrick Chairman & Director | OfficerTrustee | 5 | $0 |
David S Searles Jr Treasurer, Executive Director & Director | OfficerTrustee | 10 | $0 |
Richard D Searles 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 |
|---|---|---|
Five Points Development Llc Development & Construction Oversight | 12/30/23 | $144,000 |
River North Development Development & Construction Oversight | 12/30/23 | $122,000 |
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 | $2,260,017 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,260,017 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $148,968 |
| Compensation of current officers, directors, key employees. | $74,484 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $590,181 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,829 |
| Payroll taxes | $58,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,646 |
| 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 | $0 |
| Office expenses | $4,916 |
| Information technology | $25,319 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $13,863 |
| All other expenses | $0 |
| Total functional expenses | $2,312,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $331,151 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $160,487 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,614,107 |
| Investments—other securities | $0 |
| Investments—program-related | $2,521,138 |
| Intangible assets | $0 |
| Other assets | $8,592,155 |
| Total assets | $13,219,038 |
| Accounts payable and accrued expenses | $171,298 |
| 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 | $35,000 |
| Total liabilities | $206,298 |
| Net assets without donor restrictions | $13,012,740 |
| 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 | $13,219,038 |
Grants Awarded
Over the last fiscal year, Beverly J Searles Foundation has awarded $623,488 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSING DEVELOPMENT CORPORATION OF DEKALB COUNTY GA PURPOSE: AFFORDABLE HOUSING FOR LOW-INCOME PERSONS | $332,093 |
JUST PEOPLE INC PURPOSE: FAMILY AND COMMUNITY SUPPORT SERVICES | $20,000 |
GATEWAY DOMESTIC VIOLENCE CENTER PURPOSE: FAMILY AND COMMUNITY SUPPORT SERVICES | $50,000 |
HOUSING AUTHORITY OF DEKALB COUNTY GA PURPOSE: AFFORDABLE HOUSING FOR LOW-INCOME PERSONS | $221,395 |