Civic Intelligence

Trusted World Foundation Inc.

990 • Fiscal year 2019 • EIN 45-5264332

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 10, 2020

613 Easy StGarland, TX 75042

(972) 861-0577

Siviq Scores

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

Liabilities / Assets

54th percentile

0.10x

Higher debt load relative to assets than 54% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

25th percentile

0.01x

Higher debt load relative to revenue than 25% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

73rd percentile

$111,800

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

2nd percentile

-46%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2019

Revenue Growth

82nd percentile

33%

Faster revenue growth than 82% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2019

Assets

Down

$180,984

Down $436,551 (-71%) from 2017

Net Assets

Down

$162,407

Down $446,966 (-73%) from 2017

Liabilities

Up

$18,577

Up $10,415 (+128%) from 2017

Revenue

Up

$1,490,657

Up $649,699 (+77%) from 2017

Expenses

Up

$1,688,188

Up $1,298,483 (+333%) from 2017

Net Income

Down

-$197,531

Down $648,784 (-144%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $52,068Liabilities 2014: $0Net Assets 2014: $52,0682014Assets 2015: $70,632Liabilities 2015: $0Net Assets 2015: $70,6322015Assets 2016: $157,118Liabilities 2016: $0Net Assets 2016: $157,1182016Assets 2017: $617,535Liabilities 2017: $8,162Net Assets 2017: $609,3732017Assets 2019: $180,984Liabilities 2019: $18,577Net Assets 2019: $162,4072019Assets 2020: $745,763Liabilities 2020: $10,698Net Assets 2020: $735,0652020Assets 2021: $1,680,132Liabilities 2021: $18,683Net Assets 2021: $1,661,4492021Assets 2022: $3,390,585Liabilities 2022: $81,814Net Assets 2022: $3,308,7712022Assets 2023: $3,737,287Liabilities 2023: $73,487Net Assets 2023: $3,663,8002023Assets 2024: $3,822,688Liabilities 2024: $62,316Net Assets 2024: $3,760,3722024

Highlighted filing

2019

Assets$180,984
Liabilities$18,577
Net Assets$162,407

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $290,617Expenses 2014: $239,471Net Income 2014: $51,1462014Revenue 2015: $596,973Expenses 2015: $578,409Net Income 2015: $18,5642015Revenue 2016: $581,885Expenses 2016: $495,382Net Income 2016: $86,5032016Revenue 2017: $840,958Expenses 2017: $389,705Net Income 2017: $451,2532017Revenue 2019: $1,490,657Expenses 2019: $1,688,188Net Income 2019: -$197,5312019Revenue 2020: $2,185,329Expenses 2020: $1,624,803Net Income 2020: $560,5262020Revenue 2021: $2,777,202Expenses 2021: $1,850,818Net Income 2021: $926,3842021Revenue 2022: $4,908,288Expenses 2022: $3,260,966Net Income 2022: $1,647,3222022Revenue 2023: $6,011,958Expenses 2023: $5,656,929Net Income 2023: $355,0292023Revenue 2024: $5,236,262Expenses 2024: $5,139,690Net Income 2024: $96,5722024

Highlighted filing

2019

Revenue$1,490,657
Expenses$1,688,188
Net Income-$197,531
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 10, 2020
Return Version
2019v5.0
Gross Receipts
$1,490,657
Mission and Program Overview

Mission

We are committed to providing the best resources, at no cost, to people or organizations who are providing services on someone else's behalf.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$83,094$83,094→ $0
Cash and Non-Interest-Bearing Accounts$6,127$60,042▲ $53,915
Land, Buildings, and Equipment, Net$47,136$24,520▼ $22,616
Savings and Temporary Cash Investments$231,769$3,995▼ $227,774
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$378,609$180,984▼ $197,625
Other Assets Total$10,483$9,333▼ $1,150
Liabilities
Accounts Payable and Accrued Expenses$3,183$18,577▲ $15,394
Total Liabilities$3,183$18,577▲ $15,394
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$375,426$162,407▼ $213,019
Total Net Assets Fund Balance$375,426$162,407▼ $213,019
Total Liabilities and Net Assets / Fund Balance$378,609$180,984▼ $197,625

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$24,520$32,322$56,842
Other Assets Org$9,333--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael GarrettPres & ChairmanFT$111,800$111,800

Board Members and Trustees

NameTitle
Gabrielle MadisonVice Chair
Iram HasanDirector
Sejal DesaiMember
Timothy BraySecretary
Monica Jolla JacksonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,480,974
Program Service Revenue
$0
Investment Income
$31
Other Revenue
$9,652
All Other Contributions
$1,480,974
Change in Net Assets
$-197,531

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Clothing and Household Goods-$891,512Fair Market Value (FMV)
Food Inventory202,318$253,133Fair Market Value (FMV)
Total Noncash Contributions202,318$1,144,645-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,490,657
Total Revenue per Audited Statements
$1,490,657
Total Revenue per Form 990
$1,490,657
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,144,645
Other Expenses$293,516
Salaries, Compensation, and Employee Benefits$203,402
Professional Fundraising Fees$46,625
Total Fundraising Expense$46,625

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,144,645--$1,144,645
Other Expenses$227,086$20,460-$247,546
Current Officers, Directors, Trustees, and Key Employees$84,811$26,989-$111,800
Other Salaries and Wages$57,204$18,460-$75,664
Fees for Services Professional Fundraising--$46,625$46,625
Office Expenses$17,035$8,584-$25,619
Payroll Taxes$12,091$3,847-$15,938
Depreciation Depletion$11,368--$11,368
Information Technology$5,130--$5,130
Fees for Services Accounting-$2,650-$2,650
Fees for Services Other$774--$774
Travel$429--$429
Total Functional Expenses$1,560,573$80,990$46,625$1,688,188

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,688,188
Total Expenses per Audited Statements$1,688,188
Total Expenses per Form 990$1,688,188
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Allen Community OutreachAllen, TX501(c)(3)Living Assistance$0
Bread of Life Food PantryCommerce, TX501(c)(3)Living Assistance$0
Childrens Hunger FundDallas, TX501(c)(3)Living Assistance$0
Communiy Food BankFort Worth, TX501(c)(3)Living Assistance$0
Dallas Cnty Hlth & Human ServDallas, TXGovtLiving Assistance$0
Dallas Leadership FoundationDallas, TX501(c)(3)Living Assistance$0
ExpowAllen, TX501(c)(3)Living Assistance$0
Free-man HouseDallas, TX501(c)(3)Living Assistance$0
Good Samaritans of GarlandGarland, TX501(c)(3)Living Assistance$0
Greenville IsdGreenville, TXGovtLiving Assistance$0
Homeward BoundDallas, TX501(c)(3)Living Assistance$0
Inspired Vision Compassion CtDallas, TX501(c)(3)Living Assistance$0
Mckinney IsdMckinney, TXGovtLiving Assistance$0
Midwest Food BankNormal, IL501(c)(3)Living Assistance$0
Mosaic Family ServicesDallas, TX501(c)(3)Living Assistance$0
Pack of HopeWaco, TX501(c)(3)Living Assistance$0
Plano IsdPlano, TXGovtLiving Assistance$0
Rick Caywood MinistriesCrawford, TX501(c)(3)Living Assistance$0
The BridgeDallas, TX501(c)(3)Living Assistance$0
Veterans Center of North TexPlano, TX501(c)(3)Living Assistance$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$46,625
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Line 11B: Form 990 Review Process

The 990 is reviewed by the board of directors prior to filing with the irs.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The board of directors is required to disclose any conflicts of interest at the beginning of each year.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Executive compensation was determined at the beginning of the organization and has not been reassessed.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available upon request, posted to guidestar.

Filing and Contact Details

Filer

Filer Name
Trusted World Foundation Inc
EIN
45-5264332
Phone
9728610577
Address
613 EASY ST, GARLAND, TX 75042

Signing Officer

Name
Michael Garrett
Title
CEO
Signed
2020-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Garrett
Formed
2012
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
5
Employees
4
Volunteers
3,000

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Amy Michie
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. For the year ended December 31, 2019, the Organization had no material unrelated business income. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Organizations tax returns and recognition of a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization, and has concluded that as of December 31, 2019, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. For the year ended December 31, 2019, the Organization had no material unrelated business income. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Organizations tax returns and recognition of a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization, and has concluded that as of December 31, 2019, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0211 parkhurst lane
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