Nonprofit · EIN 75-6034480
BEAL FOUNDATION
Tax-exempt · MIDLAND, TX 79701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $18,166,151 | $7,917,667 | $10,248,484 | $81,398,963 | $0 | $81,398,963 |
| December 31, 2023 | 990-PF | $13,613,360 | $8,894,513 | $4,718,847 | $71,150,479 | $0 | $71,150,479 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $2,186,892
- Interest
- $752,899
- Net gain from sales of assets
- $3,670,720
- Other income
- $11,555,640
Expenses
- Grants and similar amounts paid
- $5,815,000
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $5,995,410
- Excise tax on investment income
- $226,588
Balance sheet and other
- Total assets, start of year
- $71,150,479
- Total assets, end of year
- $81,398,963
- Total liabilities, end of year
- $0
- Net assets, end of year
- $81,398,963
- Fair market value of assets
- $105,779,518
- Qualifying distributions
- $5,995,410
- Net investment income
- $17,937,621
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 |
|---|---|---|---|
| SPENCER BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| BARRY BEAL JR 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| STUART BEAL 104 S PECOS, MIDLAND, TX 79701 | SECRETARY/TREASURER | 0 | $0 |
| STEVE SCHORR 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| ELIZABETH BEAL DAVENPORT 104 S PECOS, MIDLAND, TX 79701 | CHAIRMAN/PRESIDENT | 0 | $0 |
| KARLENE BEAL GARBER 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| STEVE HOFER CO COTTON BLEDSOE PO BOX 50174, MIDLAND, TX 79710 | TRUSTEE | 0 | $0 |
| LAURA BUCKNER 6 DESTA DRIVE SUITE 5800, MIDLAND, TX 797055546 | TRUSTEE | 0 | $0 |
| ALEX BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| MICHAEL BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| HILL DAVENPORT 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| CALLIE FUQUA 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| ASHLEY LAFEVERS 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| ADAM DAVENPORT 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| PHILLIP BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
990-PF for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SPENCER BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| BARRY BEAL JR 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| STUART BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| STEVE SCHORR 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| ELIZABETH BEAL DAVENPORT 104 S PECOS, MIDLAND, TX 79701 | CHAIRMAN | 0 | $0 |
| MARK LOWE CO PROSPERITY BANK 4200 WEST WADLEY, MIDLAND, TX 79707 | SECRETARY/TREASURER | 0 | $0 |
| KARLENE BEAL GARBER 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| STEVE HOFER CO COTTON BLEDSOE PO BOX 50174, MIDLAND, TX 79710 | TRUSTEE | 0 | $0 |
| LAURA BUCKNER 6 DESTA DRIVE SUITE 5800, MIDLAND, TX 797055546 | TRUSTEE | 0 | $0 |
| ALEX BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| MICHAEL BEAL 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| HILL DAVENPORT 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| CALLIE FUQUA 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
| ASHLEY LAFEVERS 104 S PECOS, MIDLAND, TX 79701 | TRUSTEE | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 104 S PECOS ST, MIDLAND, TX 79701-5021
- In care of
- % AMERICAN STATE BANK
- Signed the 990-PF
- STUART BEAL, SECRETARY/TREASURER
- Phone
- (432) 682-3753
- Return prepared by
- SPROLES WOODARD 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
- 75-6034480
- 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
- 1963
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $81,398,963
- Income (IRS master file)
- $39,781,989
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $18,166,151 | $7,917,667 | $81,398,963 | XML |
| 990-PF | December 2023 | $13,613,360 | $8,894,513 | $71,150,479 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-PF | December 2017 | – | – | – | 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 75-6034480).
Questions about BEAL FOUNDATION
- What is the EIN of BEAL FOUNDATION?
- The employer identification number (EIN) of BEAL FOUNDATION is 75-6034480.
- Is BEAL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1963.
- Are donations to BEAL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does BEAL FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of BEAL 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 BEAL 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 BEAL FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 15 people; 0 received compensation from the organization.
- How much revenue does BEAL FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $18,166,151, expenses of $7,917,667 and total assets of $81,398,963 at year end.
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