Nonprofit · EIN 56-2001414
GIPSON FAMILY FOUNDATION
Tax-exempt · RALEIGH, NC 27615
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $773,972 | $2,674,534 | -$1,900,562 | $83,026,982 | $0 | $83,026,982 |
| December 31, 2024 | 990-PF | $5,351,433 | $2,721,712 | $2,629,721 | $56,591,845 | $0 | $56,591,845 |
| December 31, 2023 | 990-PF | $3,534,036 | $2,177,715 | $1,356,321 | $50,017,273 | $0 | $50,017,273 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $773,966
- Net gain from sales of assets
- $6
Expenses
- Grants and similar amounts paid
- $2,660,009
- Disbursements for charitable purposes
- $2,660,009
- Excise tax on investment income
- $10,556
Balance sheet and other
- Total assets, start of year
- $56,591,845
- Total assets, end of year
- $83,026,982
- Total liabilities, end of year
- $0
- Net assets, end of year
- $83,026,982
- Fair market value of assets
- $83,026,982
- Qualifying distributions
- $2,660,009
- Net investment income
- $773,972
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELIZABETH CHEATHAM 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| DONALD GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CLAY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CARY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| PATRICIA C GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| THOMAS GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | DIRECTOR | 0 | $0 |
990-PF for the year ended December 31, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELIZABETH CHEATHAM 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| DONALD GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CLAY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CARY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| PATRICIA C GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| THOMAS GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | DIRECTOR | 0 | $0 |
990-PF for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELIZABETH CHEATHAM 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| DONALD GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CLAY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| CARY GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| PATRICIA C GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | TRUSTEE | 0 | $0 |
| THOMAS GIPSON 609 BROOKFIELD ROAD, RALEIGH, NC 27615 | DIRECTOR | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 609 BROOKFIELD RD, RALEIGH, NC 27615-1406
- In care of
- % THOMAS GIPSON
- Signed the 990-PF
- PATRICIA C GIPSON, TRUSTEE
- Phone
- (919) 847-8500
- Return prepared by
- HAMILTON & ASSOCIATES CPAS PLLC
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 | 990-PF 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
- 56-2001414
- 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
- 1997
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22Z)
- Assets (IRS master file)
- $83,026,982
- Income (IRS master file)
- $773,972
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $773,972 | $2,674,534 | $83,026,982 | IRS |
| 990-PF | December 2024 | $5,351,433 | $2,721,712 | $56,591,845 | XML |
| 990-PF | December 2023 | $3,534,036 | $2,177,715 | $50,017,273 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2019 | – | – | – | 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 56-2001414).
Questions about GIPSON FAMILY FOUNDATION
- What is the EIN of GIPSON FAMILY FOUNDATION?
- The employer identification number (EIN) of GIPSON FAMILY FOUNDATION is 56-2001414.
- Is GIPSON FAMILY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to GIPSON FAMILY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does GIPSON FAMILY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of GIPSON FAMILY FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GIPSON FAMILY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of GIPSON FAMILY FOUNDATION?
- The 990-PF for the year ended December 31, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does GIPSON FAMILY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $773,972, expenses of $2,674,534 and total assets of $83,026,982 at year end.
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