Nonprofit · EIN 86-2202687
5050 FOUNDATION
Also known as TEAM MOOKIE
Tax-exempt · BRENTWOOD, TN 37027
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $397,842 | $272,980 | $124,862 | $163,415 | $0 | $163,415 |
| December 31, 2023 | 990-EZ | $149,408 | $126,144 | $23,264 | $38,553 | $0 | $38,553 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $524,483
- Program service revenue
- $0
- Investment income
- $0
- Net income from fundraising events
- -$126,641
- Other revenue
- -$126,641
Expenses
- Grants and similar amounts paid
- $77,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $2,875
- Accounting fees
- $11,365
- Travel
- $86,161
- Program services (functional)
- $258,740
- Management and general (functional)
- $11,365
- Fundraising (functional)
- $2,875
Balance sheet and other
- Total assets, start of year
- $38,553
- Total assets, end of year
- $163,415
- Total liabilities, end of year
- $0
- Net assets, end of year
- $163,415
- Gross receipts
- $543,470
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- TN
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MOOKIE BETTS | FOUNDER Trustee or director | 1 | $0 |
| BRIANNA BETTS | CO-FOUNDER AND PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRANDON MCPHAIL | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| ANDREW MONTGOMERY | SECRETARY Trustee or director, Officer | 1 | $0 |
| CAM LEWIS | CHAIR PERSON Trustee or director, Officer | 1 | $0 |
990-EZ for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MOOKIE BETTS | FOUNDER | 1 | $0 |
| BRIANNA BETTS | CO-FOUNDER AND PRESIDENT | 1 | $0 |
| BRANDON MCPHAIL | VICE PRESIDENT | 1 | $0 |
| ANDREW MONTGOMERY | SECRETARY | 1 | $0 |
| CAM LEWIS | CHAIR PERSON | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1422 FRANKLIN RD, BRENTWOOD, TN 37027-6826
- In care of
- % DERRICK PHILLIPS
- Mailing address (990-N for 2022)
- PO Box 150639, Nashville TN 37215
- Principal officer (990 for 2024)
- BRIANNA BETTS, POST OFFICE BOX 150369, NASHVILLE, TN 37215
- Principal officer (990-N for 2022)
- Markus Betts, PO Box 150639, Nashville TN 37215
- Signed the 990
- BRIANNA BETTS, CO-FOUNDER AND PRESIDENT
- Phone
- (615) 476-4856
- Return prepared by
- CITRIN COOPERMAN ADVISORS LLC
Mission
TO ORGANIZE, OPERATE, AND MAINTAIN INTEGRATED PROGRAMS OF BASKETBALL INSTRUCTION AND ACTIVITIES AVAILABLE TO BOYS AND GIRLS IN GRADES NINE THROUGH TWELVE IN A MANNER THAT FIRMLY IMPLANTS THE SPIRIT OF COMPETITION AND THE VIRTUES OF GOOD SPORTSMANSHIP, DISCIPLINE, TEAMWORK, HONESTY, LOYALTY, COURAGE, AND RESPECT IN THE PROGRAMS' PARTICIPANTS, AND THAT DEVELOPS ENTHUSIASTIC SUPPORT FOR BASKETBALL AMONG STUDENTS, PARENTS, AND PLAYERS BY, AMONG OTHER ACTIVITIES, TEACHING THE ADVANCE FUNDAMENTALS OF BASKETBALL TO THE PROGRAMS' PARTICIPANTS, PROMOTING EXCELLENCE IN BASKETBALL BY DEVELOPING A COORDINATED EFFORT AMOUNTS ITS VARIOUS PROGRAMS, PROVIDING A PATHWAY FOR SECONDARY EDUCATIONAL SCHOLARSHIPS THROUGH ATHLETICS AND ACADEMICS, AND COMPETING AND EXCELLING IN AMATEUR ATHLETIC UNION BASKETBALL TOURNAMENTS.
Program accomplishments
- THE ORGANIZATION SUPPORTED TOURNAMENT RELATED COSTS FOR 4 BASKETBALL TEAMS, TOTALING 39 HIGH SCHOOL AGE PLAYERS.Expenses $258,740 · grants $77,500
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 86-2202687
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N60)
- Assets (IRS master file)
- $163,415
- Income (IRS master file)
- $543,470
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990-EZ | December 2023 | $149,408 | $126,144 | $38,553 | IRS |
| 990-N for 2022 Officer: Markus Betts | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
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 5050 FOUNDATION
- What is the EIN of 5050 FOUNDATION?
- The employer identification number (EIN) of 5050 FOUNDATION is 86-2202687.
- Is 5050 FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to 5050 FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does 5050 FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 5050 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 5050 FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of 5050 FOUNDATION?
- The 990 for the year ended December 31, 2024 names BRIANNA BETTS.
- Who are the officers and directors of 5050 FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does 5050 FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $397,842, expenses of $272,980 and total assets of $163,415 at year end.
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All nonprofits in BRENTWOOD · Tennessee · Recreation and sports