Nonprofit · EIN 75-6023680
FASKEN FOUNDATION
Tax-exempt · MIDLAND, TX 79702
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $3,746,623 | $2,841,823 | $904,800 | $44,677,483 | $224,347 | $44,453,136 |
| December 31, 2023 | 990-PF | $3,717,106 | $2,466,041 | $1,251,065 | $43,613,398 | $65,475 | $43,547,923 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $1,573,890
- Interest
- $5,342
- Net gain from sales of assets
- -$281,598
- Other income
- $2,448,989
Expenses
- Grants and similar amounts paid
- $1,719,254
- Compensation of officers, directors and key employees
- $215,708
- Salaries, compensation and benefits (total)
- $30,056
- Disbursements for charitable purposes
- $1,947,514
- Excise tax on investment income
- $40,658
Balance sheet and other
- Total assets, start of year
- $43,613,398
- Total assets, end of year
- $44,677,483
- Total liabilities, end of year
- $224,347
- Net assets, end of year
- $44,453,136
- Fair market value of assets
- $46,709,523
- Qualifying distributions
- $1,947,514
- Net investment income
- $3,796,008
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 |
|---|---|---|---|
| Jeff Alsup PO BOX 2024, MIDLAND, TX 79702 | Executive director | 40 | $181,708 |
| Gerald Nobles Jr PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $6,500 |
| Tracy Elms PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $5,000 |
| John Wilkins Jr PO BOX 2024, MIDLAND, TX 79702 | President | 1 | $4,500 |
| Alex Hale PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $4,000 |
| Paula Fasken PO BOX 2024, MIDLAND, TX 79702 | Sec/Tres | 1 | $3,500 |
| Lori Blong PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $3,500 |
| Tom Kelly PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $3,000 |
| Will Krueger PO BOX 2024, MIDLAND, TX 79702 | Vice president | 1 | $2,000 |
| Steve Fasken PO BOX 2024, MIDLAND, TX 79702 | Director | 1 | $2,000 |
990-PF for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFF ALSUP PO BOX 2024, MIDLAND, TX 797022024 | EXECUTIVE DIRECTOR | 40 | $174,720 |
| NANCY SPARR PO BOX 2024, MIDLAND, TX 797022024 | ADMINISTRATIVE ASSISTANT | 20 | $34,184 |
| GERALD C NOBLES JR PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $7,000 |
| TRACY K ELMS PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR/PRESIDENT | 1 | $5,000 |
| JOHN W WILKINS JR PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR/VICE PRESIDENT | 1 | $4,500 |
| PAULA FASKEN PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR/SECRETARY | 1 | $4,500 |
| SUSAN FASKEN HARTIN PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $4,000 |
| ALEX HALE PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $4,000 |
| THOMAS E KELLY PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $3,500 |
| STEVEN P FASKEN PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $2,000 |
| LORI BLONG PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $1,000 |
| WILL KRUEGER PO BOX 2024, MIDLAND, TX 797022024 | DIRECTOR | 1 | $500 |
Address and contacts
- Address (IRS master file)
- PO BOX 2024, MIDLAND, TX 79702-2024
- Signed the 990-PF
- JEFF ALSUP, EXECUTIVE DIRECTOR
- Phone
- (432) 683-5401
- Return prepared by
- RANDY SILHAN CPA CFE
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
- 75-6023680
- 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
- 1957
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $44,677,483
- Income (IRS master file)
- $4,028,221
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | – | – | – | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $3,717,106 | $2,466,041 | $43,613,398 | IRS |
| 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 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 FASKEN FOUNDATION
- What is the EIN of FASKEN FOUNDATION?
- The employer identification number (EIN) of FASKEN FOUNDATION is 75-6023680.
- Is FASKEN FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1957.
- Are donations to FASKEN FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does FASKEN FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of FASKEN 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 FASKEN 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 FASKEN FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 10 people; 10 received compensation from the organization, the highest $181,708 (Jeff Alsup, Executive director).
- How much revenue does FASKEN FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $3,746,623, expenses of $2,841,823 and total assets of $44,677,483 at year end.
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