Nonprofit · EIN 36-6102493
THORESEN FOUNDATION
Tax-exempt · CANTON, GA 30114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $2,762,817 | $1,920,440 | $842,377 | $39,138,731 | $0 | $39,138,731 |
| December 31, 2023 | 990-PF | $528,684 | $2,755,233 | -$2,226,549 | $38,213,845 | $0 | $38,213,845 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $1,032,797
- Net gain from sales of assets
- $1,692,164
- Other income
- $7,856
Expenses
- Grants and similar amounts paid
- $1,471,000
- Compensation of officers, directors and key employees
- $240,000
- Disbursements for charitable purposes
- $1,636,799
- Excise tax on investment income
- $34,521
Balance sheet and other
- Total assets, start of year
- $38,213,845
- Total assets, end of year
- $39,138,731
- Total liabilities, end of year
- $0
- Net assets, end of year
- $39,138,731
- Fair market value of assets
- $43,936,311
- Qualifying distributions
- $1,636,799
- Net investment income
- $2,754,961
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL O'CONNELL 132 GRASSY GAP LOOP, BEECH MOUNTAIN, NC 28604 | TRUSTEE | 20 | $120,000 |
| MICHAEL THORESEN C/O M Thoresen 2725 Woodridge Cha, Canton, GA 30114 | TRUSTEE | 20 | $120,000 |
990-PF for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL O'CONNELL 132 GRASSY GAP LOOP, BEECH MOUNTAIN, NC 28604 | TRUSTEE | 20 | $120,000 |
| MICHAEL THORESEN C/O M Thoresen 2725 Woodridge Cha, Canton, GA 30114 | TRUSTEE | 20 | $120,000 |
Address and contacts
- Address (IRS master file)
- C/O M THORESEN 2725 WOODRIDGE CHA, CANTON, GA 30114-0000
- Signed the 990-PF
- Michael Thoresen, Trustee
- Phone
- (828) 260-5480
- Return prepared by
- Forvis Mazars LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 36-6102493
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1953
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $39,138,731
- Income (IRS master file)
- $6,424,658
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $2,762,817 | $1,920,440 | $39,138,731 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $528,684 | $2,755,233 | $38,213,845 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-6102493).
Questions about THORESEN FOUNDATION
- What is the EIN of THORESEN FOUNDATION?
- The employer identification number (EIN) of THORESEN FOUNDATION is 36-6102493.
- Is THORESEN FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1953.
- Are donations to THORESEN FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does THORESEN FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of THORESEN FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THORESEN FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of THORESEN FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 2 people; 2 received compensation from the organization, the highest $120,000 (PAUL O'CONNELL, TRUSTEE).
- How much revenue does THORESEN FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $2,762,817, expenses of $1,920,440 and total assets of $39,138,731 at year end.
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