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Nonprofit · EIN 75-6034480

BEAL FOUNDATION

Tax-exempt · MIDLAND, TX 79701

Financials

$18.2M$7.9M2024
Revenue Expenses · by fiscal year end
Financials of BEAL FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF$18,166,151$7,917,667$10,248,484$81,398,963$0$81,398,963
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.

NameTitleHours / weekCompensation
SPENCER BEAL
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
BARRY BEAL JR
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
STUART BEAL
104 S PECOS, MIDLAND, TX 79701
SECRETARY/TREASURER0$0
STEVE SCHORR
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
ELIZABETH BEAL DAVENPORT
104 S PECOS, MIDLAND, TX 79701
CHAIRMAN/PRESIDENT0$0
KARLENE BEAL GARBER
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
STEVE HOFER CO COTTON BLEDSOE
PO BOX 50174, MIDLAND, TX 79710
TRUSTEE0$0
LAURA BUCKNER
6 DESTA DRIVE SUITE 5800, MIDLAND, TX 797055546
TRUSTEE0$0
ALEX BEAL
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
MICHAEL BEAL
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
HILL DAVENPORT
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
CALLIE FUQUA
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
ASHLEY LAFEVERS
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
ADAM DAVENPORT
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$0
PHILLIP BEAL
104 S PECOS, MIDLAND, TX 79701
TRUSTEE0$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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-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

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024–––IRS
990-PFDecember 2023$13,613,360$8,894,513$71,150,479IRS
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-PFDecember 2018–––IRS
990-PFDecember 2017–––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 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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