Teas Foundation
- Assets
- $2.9m
- Revenue
- $309.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Amarillo, TX
- Founding
- Data as of
- 12/2023
- EIN
- 86-3540052
Organization Overview
Teas Foundation is located in Amarillo, TX. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teas 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, Teas Foundation generated $309.6k in total revenue. All expenses for the organization totaled $292.6k during the year ending 12/2023.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FUNDS TO SEVERAL CHARITIES FOR THE TEAS FOUNDATION A SEC 509(A)(3) SUPPORTING ORGANIZATION
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PDF Copies of 990 Filings
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9,847 |
| Dividends & Interest | $83,887 |
| Net Rental Income | $79,605 |
| Net Gain on Sale of Assets | $94,210 |
| Capital Gain Net Income | $94,210 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $309,601 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,409 |
| Depreciation | $18,248 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $821 |
| Total operating and administrative expenses | $78,771 |
| Contributions, gifts, grants paid | $213,866 |
| Total expenses and disbursements | $292,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,173 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,894,970 |
| Total assets | $2,943,143 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Teas Foundation has awarded $213,867 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FAMILY SUPPORT SERVICES OF AMARILLO PURPOSE: TO FURTHER THE OPERATIONS OF FAMILY SUPPORT SERVICES OF AMARILLO AND HELP PROVIDE SUPPORT TO FAMILIES IN NEED | $71,284 |
FIRST UNITED METHODIST CHURCH OF CANADIAN PURPOSE: TO HELP FURTHER THE REACH OF THE METHODIST CHURCH IN CANADIAN, TEXAS | $71,299 |
SALVATION ARMY TUSCON ARIZONA CHAPTER PURPOSE: TO HELP SUPPORT THE GOALS AND WORK OF THE SALVATION ARMY IN THE TUSCON ARIZONA AREA | $71,284 |