Nonprofit · EIN 75-1534079
LOCKETT FOUNDATION
Tax-exempt · VERNON, TX 76385
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $100,619 | $121,245 | -$20,626 | $2,296,207 | $0 | $2,296,207 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,918
- Dividends
- $69,356
- Interest
- $17
- Net gain from sales of assets
- $38,484
- Other income
- -$10,156
Expenses
- Grants and similar amounts paid
- $117,625
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $118,600
- Excise tax on investment income
- $1,344
Balance sheet and other
- Total assets, start of year
- $2,316,833
- Total assets, end of year
- $2,296,207
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,296,207
- Fair market value of assets
- $2,698,068
- Qualifying distributions
- $118,600
- Net investment income
- $97,701
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 |
|---|---|---|---|
| Linda Lockett Cheslak 583 Cherry Mountain Loop, Fredericksburg, TX 78624 | President | 0 | $0 |
| Michael N Underwood 127 N Calvin Barrett, Blanco, TX 78606 | Vice-President | 0 | $0 |
| Stephen Brantley 1414 Park Lane, Vernon, TX 76384 | Trustee | 0 | $0 |
| Robert Lightfoot 2601 Twin Oaks Drive, Vernon, TX 76384 | Trustee | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1331, VERNON, TX 76385-1331
- Signed the 990-PF
- Michael Underwood, Vice-President
- Phone
- (940) 552-5481
- Return prepared by
- Meyers Marsh & Mannon CPAs
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
- 75-1534079
- 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
- 1977
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $2,296,207
- Income (IRS master file)
- $162,182
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | – | – | – | IRS |
| 990-PF | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $33,922 | $74,086 | $2,308,327 | IRS |
| 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 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 LOCKETT FOUNDATION
- What is the EIN of LOCKETT FOUNDATION?
- The employer identification number (EIN) of LOCKETT FOUNDATION is 75-1534079.
- Is LOCKETT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1977.
- Are donations to LOCKETT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does LOCKETT FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of LOCKETT 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 LOCKETT 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 LOCKETT FOUNDATION?
- The 990-PF for the year ended December 31, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does LOCKETT FOUNDATION have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $100,619, expenses of $121,245 and total assets of $2,296,207 at year end.
Other nonprofits in VERNON
- BOYS AND GIRLS CLUB OF VERNON TEXAS ENDOWMENT FUND INC EIN 61-1449250 · last filed 990 for 2025
- BOYS AND GIRLS CLUB OF VERNON INC EIN 75-1052556 · last filed 990 for 2024
- RED RIVER VALLEY MUSEUM EIN 75-6043089 · last filed 990 for 2025
- VERNON REGIONAL JUNIOR COLLEGE FOUNDATION INC EIN 75-2045268 · last filed 990 for 2025
- WILBARGER COUNTY JUNIOR LIVESTOCK SHOW ASSOCIATION EIN 92-1262469 · last filed 990 for 2024
- HILL CREST COUNTRY CLUB OF VERNON EIN 75-0334957 · last filed 990 for 2024
- SANTA ROSA TELEPHONE COOPERATIVE INC POSTRETIREMENT BENEFIT TR EIN 46-6955691 · last filed 990 for 2025
- WILBARGER HUMANE SOCIETY EIN 75-1563665 · last filed 990 for 2025