Civic Intelligence

Beverly J Searles Foundation

990 • Fiscal year 2023 • EIN 26-0823326

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

5030 Nesbit Ferry LaneSandy Springs, GA 30350

(678) 467-6861

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.09x

Higher debt load relative to revenue than 27% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

31st percentile

-2.3%

Higher net margin than 31% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

38th percentile

$148,967

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

44th percentile

4.1%

Faster asset growth than 44% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Assets

Up

$13,219,038

Up $521,666 (+4.1%) from 2022

Net Assets

Up

$13,012,740

Up $334,923 (+2.6%) from 2022

Liabilities

Up

$206,298

Up $186,743 (+955%) from 2022

Revenue

Up

$2,260,017

Up $3,049,323 (+386%) from 2022

Expenses

Down

$2,312,707

Down $172,516 (-6.9%) from 2022

Net Income

Up

-$52,690

Up $3,221,839 (+98%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2013: $1,724,863Liabilities 2013: $788,845Net Assets 2013: $936,0182013Assets 2014: $1,630,818Liabilities 2014: $96,338Net Assets 2014: $1,534,4802014Assets 2015: $5,815,235Liabilities 2015: $3,457,802Net Assets 2015: $2,357,4332015Assets 2016: $3,617,226Liabilities 2016: $417,649Net Assets 2016: $3,199,5772016Assets 2017: $5,568,039Liabilities 2017: $751,939Net Assets 2017: $4,816,1002017Assets 2018: $6,519,904Liabilities 2018: $555,536Net Assets 2018: $5,964,3682018Assets 2019: $7,325,579Liabilities 2019: $37,764Net Assets 2019: $7,287,8152019Assets 2020: $13,717,235Liabilities 2020: $150,621Net Assets 2020: $13,566,6142020Assets 2021: $17,035,487Liabilities 2021: $20,193Net Assets 2021: $17,015,2942021Assets 2022: $12,697,372Liabilities 2022: $19,555Net Assets 2022: $12,677,8172022Assets 2023: $13,219,038Liabilities 2023: $206,298Net Assets 2023: $13,012,7402023Assets 2024: $14,102,795Liabilities 2024: $16,166Net Assets 2024: $14,086,6292024

Highlighted filing

2023

Assets$13,219,038
Liabilities$206,298
Net Assets$13,012,740

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2013: $1,360,533Expenses 2013: $401,419Net Income 2013: $959,1142013Revenue 2014: $1,055,629Expenses 2014: $457,167Net Income 2014: $598,4622014Revenue 2015: $1,612,928Expenses 2015: $789,975Net Income 2015: $822,9532015Revenue 2016: $1,648,473Expenses 2016: $806,329Net Income 2016: $842,1442016Revenue 2017: $2,563,901Expenses 2017: $947,378Net Income 2017: $1,616,5232017Revenue 2018: $3,080,722Expenses 2018: $1,932,454Net Income 2018: $1,148,2682018Revenue 2019: $3,768,853Expenses 2019: $2,445,406Net Income 2019: $1,323,4472019Revenue 2020: $9,140,526Expenses 2020: $2,953,622Net Income 2020: $6,186,9042020Revenue 2021: $5,670,761Expenses 2021: $2,377,194Net Income 2021: $3,293,5672021Revenue 2022: -$789,306Expenses 2022: $2,485,223Net Income 2022: -$3,274,5292022Revenue 2023: $2,260,017Expenses 2023: $2,312,707Net Income 2023: -$52,6902023Revenue 2024: $1,927,951Expenses 2024: $2,262,454Net Income 2024: -$334,5032024

Highlighted filing

2023

Revenue$2,260,017
Expenses$2,312,707
Net Income-$52,690
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$2,260,017
Mission and Program Overview

Mission

The organization's primary mission is to provide quality sage affordable housing and support services for eligible low-income seniors and disabled persons.

The organization has been formed to provide housing and support services for the elderly and disabled person and those with lower incomes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$2,515,768$2,521,138▲ $5,370
Investments in Publicly Traded Securities$132,493$1,614,107▲ $1,481,614
Cash and Non-Interest-Bearing Accounts$1,224,999$331,151▼ $893,848
Accounts Receivable$239,679$160,487▼ $79,192
Total Assets$12,697,372$13,219,038▲ $521,666
Other Assets Total$8,584,433$8,592,155▲ $7,722
Liabilities
Accounts Payable and Accrued Expenses$19,555$171,298▲ $151,743
Other Liabilities$0$35,000▲ $35,000
Total Liabilities$19,555$206,298▲ $186,743
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,677,817$13,012,740▲ $334,923
Total Net Assets Fund Balance$12,677,817$13,012,740▲ $334,923
Total Liabilities and Net Assets / Fund Balance$12,697,372$13,219,038▲ $521,666

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$646,361--
Other Assets Org$3,099,318--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Philip E SearlesPresidentFT$148,967$148,967

Board Members and Trustees

NameTitle
G Malcolm KilpatrickChairman & Director
Alysse DanielsDirector
Brian DickhausDirector
Charles SheronDirector
Donald RussellDirector
Marion NurseDirector
Patricia GadsonDirector
Richard D SearlesDirector
David S Searles JrTreasurer, Executive Director & Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Five Points Development LLCDevelopment & Construction Oversight510 Stoneglen Chase SW, Atlanta, GA 30331$144,000
River North DevelopmentDevelopment & Construction Oversight115 Braxton Way, Roswell, GA 30075$122,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,260,017
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-52,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,418,819
Salaries, Compensation, and Employee Benefits$893,888
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$354,109$236,072-$590,181
Current Officers, Directors, Trustees, and Key Employees$74,484$74,484-$148,968
Other Employee Benefits$55,566$40,263-$95,829
Other Expenses$8,257$64,701-$72,958
Payroll Taxes$34,159$24,751-$58,910
Information Technology-$25,319-$25,319
Fees for Services Legal-$23,646-$23,646
Insurance-$13,863-$13,863
Office Expenses-$4,916-$4,916
Total Functional Expenses$1,804,692$508,015$0$2,312,707
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to AEP$35,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Richard D. Searles, David S. Searles Jr., and Philip E. Searles all share a family relationship.

Form 990, Part VI, Section B, line 11B

The Executive Director reviews and approves the form 990 prior to its filing.

Form 990, Part VI, Section B, line 12C

Officers and directors are reminded of this policy at each board meeting and are asked to disclose any potential conflicts of interest for discussion by the board.

Form 990, Part VI, Section C, line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Beverly J Searles Foundation
EIN
26-0823326
Phone
6784676861
Address
5030 Nesbit Ferry Lane, Sandy Springs, GA 30350

Signing Officer

Name
Philip Searles
Title
President
Phone
6784676861
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Philip Searles
Formed
2007
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
9
Employees
12
Volunteers
9

Preparer

Firm
Aprio Advisory Group LLC
Address
2002 Summit Boulevard Suite 120, Atlanta, GA 30319
Preparer
Stacy Cullen
Phone
4048929651
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 13A

GA

FORM 990, PART XII LINE 2C:

The organization has not changed any processes from prior year.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm3Richard D Searles
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chairman & Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer, Executive Director & Director
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IRS990/PYProgramServiceRevenueAmt01445903
IRS990/PYRevenuesLessExpensesAmt0-3274529
IRS990/PYSalariesCompEmpBnftPaidAmt0909262
IRS990/PYTotalExpensesAmt02485223
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0-789306
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-52690
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0521365
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt017000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0280
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt017280
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt022203
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01698690
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01092459
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0100656
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02914008
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0960017
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01445903
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03861812
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt08048067
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03667917
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt017983716
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt022203
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01698690
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01092459
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0100656
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02914008
IRS990ScheduleA/InvestmentIncomeCYPct00.13860
IRS990ScheduleA/InvestmentIncomePYPct00.13230
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0110259
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0110259
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.85620
IRS990ScheduleA/PublicSupportPY509Pct00.86270
IRS990ScheduleA/PublicSupportTotal509Amt018000996
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0960017
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01462903
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03861812
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt08048067
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03668197
IRS990ScheduleA/Total509Grp/TotalAmt018000996
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0960017
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01485106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt05670761
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt09140526
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03768853
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt021025263
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01000000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1874777
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2646361
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Land Held for Development - Wisteria Ph 2
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Land Held for Development - Blue Ridge
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2Land Held for Development - LH Comm
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0213321
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11662539
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23616977
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt33099318
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Advances to Affiliates
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Advances to New Projects
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Development Fee Receivables
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Note Receivable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt035000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to AEP
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt08592155
IRS990ScheduleD/TotalBookValueProgramRltdAmt02521138
IRS990ScheduleD/TotalLiabilityAmt035000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Richard D. Searles, David S. Searles Jr., and Philip E. Searles all share a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Executive Director reviews and approves the form 990 prior to its filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Officers and directors are reminded of this policy at each board meeting and are asked to disclose any potential conflicts of interest for discussion by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization has not changed any processes from prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part V, Line 13a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt3No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt4No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt5No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt6No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt7No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt8No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt9No
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0Belmont General One LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1Myrtle Terraces General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2Lafayette General One LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt3BJS Newnan General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt4BJS Midway General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt5BJS Mableton General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt6Oasis Of Vine City General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt7BJS Lovejoy General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt8BJS Macland General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt9BJS Clarkston General LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0204323127
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1452530289
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2452529517
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN3364786100
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN4352531847
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN5320496812
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN6371783032
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN7320495866
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN8371893486
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN9320541967
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0GA

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