Nonprofit · EIN 02-0762912
THE GRAGG FOUNDATION
Tax-exempt · PALESTINE, TX 75802
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $255,270 | $206,697 | $48,573 | $3,723,075 | $0 | $3,723,075 |
| December 31, 2023 | 990-PF | $217,597 | $213,146 | $4,451 | $3,563,418 | $0 | $3,563,418 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $100,000
- Dividends
- $153,847
- Interest
- $1,423
Expenses
- Grants and similar amounts paid
- $203,000
- Disbursements for charitable purposes
- $203,800
- Excise tax on investment income
- $3,700
Balance sheet and other
- Total assets, start of year
- $3,563,418
- Total assets, end of year
- $3,723,075
- Total liabilities, end of year
- $0
- Net assets, end of year
- $3,723,075
- Fair market value of assets
- $4,387,598
- Qualifying distributions
- $203,800
- Net investment income
- $266,354
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 |
|---|---|---|---|
| LAURA HAILEY PO BOX 678, PALESTINE, TX 75802 | PRES/DIR | 1 | $0 |
| CODY D BRISTOW PO BOX 678, PALESTINE, TX 75802 | DIRECTOR | 1 | $0 |
| MARTIN LAWRENCE 511 N CHURCH, PALESTINE, TX 75801 | DIRECTOR | 1 | $0 |
| FRANK CAMPOS PO BOX 2918, PALESTINE, TX 75802 | SEC/DIR | 1 | $0 |
| MICHAEL BENNETT PO BOX 678, PALESTINE, TX 75802 | TREAS/DIR | 1 | $0 |
990-PF for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JACUELYN GRAGG PO BOX 678, PALESTINE, TX 75802 | PRES/DIR | 1 | $0 |
| CODY D BRISTOW PO BOX 678, PALESTINE, TX 75802 | DIRECTOR | 1 | $0 |
| MARTIN LAWRENCE 511 N CHURCH, PALESTINE, TX 75801 | DIRECTOR | 1 | $0 |
| FRANK CAMPOS PO BOX 2918, PALESTINE, TX 75802 | SEC/DIR | 1 | $0 |
| MICHAEL BENNETT PO BOX 678, PALESTINE, TX 75802 | TREAS/DIR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 678, PALESTINE, TX 75802-0678
- In care of
- % JACQUELYN LOCKEY GRAGG
- Signed the 990-PF
- LAURA HAILEY, PRESIDENT
- Phone
- (903) 729-2197
- Return prepared by
- Frank Campos & Associates 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 | 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
- 02-0762912
- 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
- 2007
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $3,723,075
- Income (IRS master file)
- $255,270
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $255,270 | $206,697 | $3,723,075 | XML |
| 990-PF | December 2023 | $217,597 | $213,146 | $3,563,418 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about THE GRAGG FOUNDATION
- What is the EIN of THE GRAGG FOUNDATION?
- The employer identification number (EIN) of THE GRAGG FOUNDATION is 02-0762912.
- Is THE GRAGG FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to THE GRAGG FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does THE GRAGG FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of THE GRAGG 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 THE GRAGG 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 THE GRAGG FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does THE GRAGG FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $255,270, expenses of $206,697 and total assets of $3,723,075 at year end.
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