Civic Intelligence

R-3 Restorations LLC

990 • Fiscal year 2023 • EIN 27-1967868

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 21, 2024

Organization Profileresetministries.org
841 Isabella StreetNewport, KY 41071

(859) 322-3831

Siviq Scores

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

Liabilities / Assets

77th percentile

0.23x

Higher debt load relative to assets than 77% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.55x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

11th percentile

-30%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$77,809

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

16th percentile

-13%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

10th percentile

-35%

Faster revenue growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$721,400

Down $103,869 (-13%) from 2022

Net Assets

Down

$553,886

Down $93,206 (-14%) from 2022

Liabilities

Down

$167,514

Down $10,663 (-6.0%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin11th percentile

Revenue

Down

$303,947

Down $163,377 (-35%) from 2022

Expenses

Down

$396,101

Down $9,812 (-2.4%) from 2022

Net Income

Down

-$92,154

Down $153,565 (-250%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$1.0M$500K$0Assets 2017: $256,366Liabilities 2017: $190,259Net Assets 2017: $66,1072017Assets 2018: $284,058Liabilities 2018: $185,163Net Assets 2018: $98,8952018Assets 2019: $373,316Liabilities 2019: $179,920Net Assets 2019: $193,3962019Assets 2020: $732,670Liabilities 2020: $174,362Net Assets 2020: $558,3082020Assets 2021: $763,281Liabilities 2021: $185,323Net Assets 2021: $577,9582021Assets 2022: $825,269Liabilities 2022: $178,177Net Assets 2022: $647,0922022Assets 2023: $721,400Liabilities 2023: $167,514Net Assets 2023: $553,8862023Assets 2024: $581,769Liabilities 2024: $155,523Net Assets 2024: $426,2462024

Highlighted filing

2023

Assets$721,400
Liabilities$167,514
Net Assets$553,886
Open 2023 Filing

Operations Trend

Revenue Growth10th percentile

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

$600K$400K$200K$0-$200KRevenue 2017: $124,335Expenses 2017: $110,575Net Income 2017: $13,7602017Revenue 2018: $172,332Expenses 2018: $139,544Net Income 2018: $32,7882018Revenue 2019: $283,838Expenses 2019: $189,338Net Income 2019: $94,5002019Revenue 2020: $598,686Expenses 2020: $233,774Net Income 2020: $364,9122020Revenue 2021: $374,659Expenses 2021: $355,009Net Income 2021: $19,6502021Revenue 2022: $467,324Expenses 2022: $405,913Net Income 2022: $61,4112022Revenue 2023: $303,947Expenses 2023: $396,101Net Income 2023: -$92,1542023Revenue 2024: $318,737Expenses 2024: $380,810Net Income 2024: -$62,0732024

Highlighted filing

2023

Revenue$303,947
Expenses$396,101
Net Income-$92,154
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 21, 2024
Return Version
2023v5.0
Gross Receipts
$303,947
Mission and Program Overview

Mission

The ministry is a faith based organization providing reclamation,rehabilitation and reward to over achievers.

The ministry is a faith based organization providing reclamation, rehabilitation and reward to empower individuals to overcome the impact of poverty, trauma, abuse, addiction and/or incarceration.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$571,005$581,005▲ $10,000
Rtn Earn Endowment Incm Other Fnds$647,092$553,886▼ $93,206
Cash and Non-Interest-Bearing Accounts$241,099$128,089▼ $113,010
Savings and Temporary Cash Investments$11,010$10,151▼ $859
Intangible Assets$2,155$2,155→ $0
Total Assets$825,269$721,400▼ $103,869
Liabilities
Mortgage Notes Payable Secured by Investment Property$151,756$147,810▼ $3,946
Accounts Payable and Accrued Expenses$26,421$19,704▼ $6,717
Total Liabilities$178,177$167,514▼ $10,663
Net Assets / Fund Balance
Total Net Assets Fund Balance$647,092$553,886▼ $93,206
Total Liabilities and Net Assets / Fund Balance$825,269$721,400▼ $103,869

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$471,842$72,269$544,111
Equipment$84,163$28,943$113,106
Land$25,000-$25,000
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Eric SwitzerExecutive DiFT$77,809$77,809
Eric SwitzerExecutive Director-$77,809$77,809

Board Members and Trustees

NameTitle
Russ HowardChairman
Ray KubikVice Chairma
Braylen ChandlerBoard Member
Doona StevensBoard Member
Dr Kesha NelsonBoard Member
Jim FergusinBoard Member
Ryan SnowBoard Member
Sallie WillinghamBoard Member
Thomas D SherwoodExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$186,813
Program Service Revenue
$114,297
Investment Income
$2,837
Other Revenue
$0
All Other Contributions
$163,033
Change in Net Assets
$-92,154
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$208,780
Other Expenses$179,229
Professional Fundraising Fees$8,092
Total Fundraising Expense$8,092
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$100,271$14,974-$115,245
Occupancy$80,670--$80,670
Comp Disqual Persons$15,562$62,247-$77,809
Fees for Services Other$10,121$12,717-$22,838
Payroll Taxes$9,436$6,290-$15,726
Advertising-$12,823-$12,823
Insurance-$9,304-$9,304
Fees for Services Professional Fundraising--$8,092$8,092
Interest$6,543--$6,543
Office Expenses-$5,897-$5,897
Other Expenses$7,183$3,926-$3,926
Total Functional Expenses$259,831$128,178$8,092$396,101
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$8,092
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 2

“Gary dawson grant dawson director board member father / son”

Form 990, Page 6, Part VI, Line 11B

“A pdf of form 990 is provided to all members of the governing board for review prior to submission.”

Form 990, Page 6, Part VI, Line 15A

“Comensation process of top official - perform internal aufir of salary of executive director.”

Form 990, Page 6, Part VI, Line 15B

“Compensation process of officers - used industry standards for other employees.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
R-3 Restorations
EIN
27-1967868
Phone
8593223831
Address
841 ISABELLA STREET, NEWPORT, KY 41071
Doing Business As
Reset Ministries

Signing Officer

Name
Thomas D Sherwood
Title
Executive Director
Phone
8593223831
Signed
2024-11-21

Organization Details

Principal Officer
Thomas D Sherwood
Formed
2020
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
0
Employees
5
Volunteers
80
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Reset's mission is to empower individuals to overcome the impact of poverty, trauma, abuse, addiction, and/or incarceration by providing dignified housing, opportunities, and resources to support individuals and bring them hope for a free, independent and dignified future.”

Raw XML Appendix386 raw XML fields

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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IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01744616
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0303947
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0467324
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0374659
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0598686
IRS990ScheduleA/Total509Grp/TotalAmt01744616
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0303947
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0467324
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0374659
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0598686
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01744616
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0471842
IRS990ScheduleD/BuildingsGrp/DepreciationAmt072269
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0544111
IRS990ScheduleD/EquipmentGrp/BookValueAmt084163
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028943
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0113106
IRS990ScheduleD/LandGrp/BookValueAmt025000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt025000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0581005
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt077809
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ERIC SWITZER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt077809
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RESET'S MISSION IS TO EMPOWER INDIVIDUALS TO OVERCOME THE IMPACT OF POVERTY, TRAUMA, ABUSE, ADDICTION, AND/OR INCARCERATION BY PROVIDING DIGNIFIED HOUSING, OPPORTUNITIES, AND RESOURCES TO SUPPORT INDIVIDUALS AND BRING THEM HOPE FOR A FREE, INDEPENDENT AND DIGNIFIED FUTURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GARY DAWSON GRANT DAWSON DIRECTOR BOARD MEMBER FATHER / SON
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A PDF OF FORM 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BOARD FOR REVIEW PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMENSATION PROCESS OF TOP OFFICIAL - PERFORM INTERNAL AUFIR OF SALARY OF EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION PROCESS OF OFFICERS - USED INDUSTRY STANDARDS FOR OTHER EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0721400
IRS990/TotalAssetsGrp/BOYAmt0825269
IRS990/TotalAssetsGrp/EOYAmt0721400
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IRS990/TotalContributionsAmt0186813
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08092
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0128178
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0259831
IRS990/TotalFunctionalExpensesGrp/TotalAmt0396101
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0178177
IRS990/TotalLiabilitiesEOYAmt0167514
IRS990/TotalLiabilitiesGrp/BOYAmt0178177
IRS990/TotalLiabilitiesGrp/EOYAmt0167514
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0647092
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0553886
IRS990/TotalProgramServiceExpensesAmt0259831
IRS990/TotalProgramServiceRevenueAmt0114297
IRS990/TotalReportableCompFromOrgAmt077809
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0117134
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0303947
IRS990/TotalVolunteersCnt080
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0825269
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0721400
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0841 ISABELLA STREET
IRS990/USAddress/CityNm0NEWPORT
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd041071
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS D SHERWOOD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08593223831
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0R-3 RESTORATIONS
ReturnHeader/Filer/BusinessNameControlTxt0R-3R
ReturnHeader/Filer/EIN0271967868
ReturnHeader/Filer/PhoneNum08593223831
ReturnHeader/Filer/USAddress/AddressLine1Txt0841 ISABELLA STREET
ReturnHeader/Filer/USAddress/CityNm0NEWPORT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd041071
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/ReturnTs02024-11-26T10:53:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$721,400
Liabilities
$167,514
Net assets
$553,886
Revenue
$303,947
Expenses
$396,101
Net income
-$92,154
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.82$1.56$4.26$3.19$3.81$0.62
2023Detailed filing. Detailed filing data is available for this year.$7.21$1.68$5.54$3.04$3.96$0.92
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.25$1.78$6.47$4.67$4.06$0.61
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.63$1.85$5.78$3.75$3.55$0.20
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.33$1.74$5.58$5.99$2.34$3.65
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$1.80$1.93$2.84$1.89$0.95
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.84$1.85$0.99$1.72$1.40$0.33
2017Detailed filing. Detailed filing data is available for this year.$2.56$1.90$0.66$1.24$1.11$0.14