Civic Intelligence

Treasured Vessels Foundation

990 • Fiscal year 2021 • EIN 46-3947870

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileWWW.TREASUREDVESSELSFOUNDATION.ORG
PO Box 2256Frisco, TX 75034

(214) 507-5050

Siviq Scores

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

Liabilities / Assets

81st percentile

0.35x

Higher debt load relative to assets than 81% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

0.36x

Higher debt load relative to revenue than 81% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

57th percentile

17%

Higher net margin than 57% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

90th percentile

87%

Faster asset growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

68th percentile

37%

Faster revenue growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$761,027

Up $354,124 (+87%) from 2020

Net Assets

Up

$495,551

Up $126,621 (+34%) from 2020

Liabilities

Up

$265,476

Up $227,503 (+599%) from 2020

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin57th percentile

Revenue

Up

$744,355

Up $201,011 (+37%) from 2020

Expenses

Up

$617,734

Up $209,486 (+51%) from 2020

Net Income

Down

$126,621

Down $8,475 (-6.3%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$1.0M$500K$0Assets 2016: $50,586Liabilities 2016: $0Net Assets 2016: $50,5862016Assets 2017: $62,876Liabilities 2017: $0Net Assets 2017: $62,8762017Assets 2018: $156,369Liabilities 2018: $1,320Net Assets 2018: $155,0492018Assets 2019: $245,009Liabilities 2019: $8,437Net Assets 2019: $236,5722019Assets 2020: $406,903Liabilities 2020: $37,973Net Assets 2020: $368,9302020Assets 2021: $761,027Liabilities 2021: $265,476Net Assets 2021: $495,5512021Assets 2022: $815,837Liabilities 2022: $259,883Net Assets 2022: $555,9542022Assets 2023: $667,591Liabilities 2023: $217,463Net Assets 2023: $450,1282023Assets 2024: $826,270Liabilities 2024: $214,183Net Assets 2024: $612,0872024

Highlighted filing

2021

Assets$761,027
Liabilities$265,476
Net Assets$495,551
Open 2021 Filing

Operations Trend

Revenue Growth68th percentile

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

$1.0M$500K$0-$500KRevenue 2016: $84,580Expenses 2016: $33,994Net Income 2016: $50,5862016Revenue 2017: $87,370Expenses 2017: $75,080Net Income 2017: $12,2902017Revenue 2018: $179,649Expenses 2018: $84,221Net Income 2018: $95,4282018Revenue 2019: $230,449Expenses 2019: $148,926Net Income 2019: $81,5232019Revenue 2020: $543,344Expenses 2020: $408,248Net Income 2020: $135,0962020Revenue 2021: $744,355Expenses 2021: $617,734Net Income 2021: $126,6212021Revenue 2022: $792,625Expenses 2022: $688,733Net Income 2022: $103,8922022Revenue 2023: $635,941Expenses 2023: $741,767Net Income 2023: -$105,8262023Revenue 2024: $512,370Expenses 2024: $352,433Net Income 2024: $159,9372024

Highlighted filing

2021

Revenue$744,355
Expenses$617,734
Net Income$126,621
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$767,077
Mission and Program Overview

Mission

Treasured Vessels Foundation is devoted to providing a long-term safe place for healing and growth to individuals impacted by trauma from exploitation in sex trafficking. The Foundation aims to provide these services through building shelters, therapy as part of the healing process and restoring hope for the future. The Foundation officially began program operations in November 2019.

Treasured vessles foundation is devoted to providing a long-term safe place for healing and growth to individuals impacted by trauma from exploitation in sex trafficking.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$126,440$443,691▲ $317,251
Cash and Non-Interest-Bearing Accounts$264,171$314,836▲ $50,665
Pledges and Grants Receivable$13,792--
Prepaid Expenses and Deferred Charges$2,500$2,500→ $0
Total Assets$406,903$761,027▲ $354,124
Liabilities
Mortgage Notes Payable Secured by Investment Property-$233,681-
Accounts Payable and Accrued Expenses$37,973$31,795▼ $6,178
Total Liabilities$37,973$265,476▲ $227,503
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$254,781$381,402▲ $126,621
Net Assets With Donor Restrictions$114,149$114,149→ $0
Total Net Assets Fund Balance$368,930$495,551▲ $126,621
Total Liabilities and Net Assets / Fund Balance$406,903$761,027▲ $354,124

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$319,899-$319,899
Land$111,725-$111,725
Equipment$9,000$6,000$15,000
Other Land Buildings$3,067-$3,067
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Alicia BushCEO President
David BeckettDirector
Dugan KelleyDirector
Jaime CabreraDirector
Kate ValentDirector
RYAN McCOYDirector
Tamiel KenneyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$647,651
Program Service Revenue
$99,704
Investment Income
$0
Other Revenue
$-3,000
All Other Contributions
$6
Change in Net Assets
$126,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$386,130
Salaries, Compensation, and Employee Benefits$231,604
Total Fundraising Expense$95,764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$89,649$82,207$41,851$213,707
All Other Expenses$53,274$49,885-$103,159
Occupancy$26,473--$26,473
Payroll Taxes$7,600$10,297-$17,897
Office Expenses-$13,908$2,044$15,952
Fees for Services Accounting-$15,420-$15,420
Insurance$1,820$10,901-$12,721
Interest$8,542--$8,542
Depreciation Depletion$3,000--$3,000
Other Expenses$121,380$2,716$19,722$2,716
Information Technology-$2,466-$2,466
Travel$1,282--$1,282
Total Functional Expenses$328,508$193,462$95,764$617,734
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$22,722
Fundraising Gross Income$19,722
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ladies Luncheon$145,143$95,487$7,433$88,054
Total Events$145,143$95,487$22,722$72,765
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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
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, Line LINE 2

“David beckett is the cfo for a company owned by the ceos spouse.”

Form 990, Part VI, Line LINE 11B

“All board members will recieve a copy of the form 990 prior to filing.”

Form 990, Part VI, Line LINE 12C

“The volunteer ceo reviews coi policies and maintains transparency throughout organization and director meetings. If a director has a conflict then they are required to recuse themself from the discussion and vote.”

Form 990, Part VI, Line LINE 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Treasured Vessels Foundation
EIN
46-3947870
Phone
2145075050
Address
PO BOX 2256, Frisco, TX 75034
Doing Business As
F-k-a Chosen Family

Signing Officer

Name
Reginald D Sherman
Title
CPA
Phone
4697098125
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
8

Preparer

Firm
Reginald Dewayne Sherman CPA
Address
1075 GRIFFIN STREET WEST SUITE 109, DALLAS, TX 75215
Preparer
Reginald D Sherman
Phone
4697098125
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line LINE 1

“Treasured vessels foundation is devoted to providing a long-term safe place for healing and growth to individuals impacted by trauma from exploitation in sex trafficking. The foundation aims to provide these services through building shelters, therapy as part of the healing process and restoring hope for the future. The foundation officially began program operations in november 2019.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TREASURED VESSELS FOUNDATION IS DEVOTED TO PROVIDING A LONG-TERM SAFE PLACE FOR HEALING AND GROWTH TO INDIVIDUALS IMPACTED BY TRAUMA FROM EXPLOITATION IN SEX TRAFFICKING. THE FOUNDATION AIMS TO PROVIDE THESE SERVICES THROUGH BUILDING SHELTERS, THERAPY AS PART OF THE HEALING PROCESS AND RESTORING HOPE FOR THE FUTURE. THE FOUNDATION OFFICIALLY BEGAN PROGRAM OPERATIONS IN NOVEMBER 2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DAVID BECKETT IS THE CFO FOR A COMPANY OWNED BY THE CEOS SPOUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS WILL RECIEVE A COPY OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE VOLUNTEER CEO REVIEWS COI POLICIES AND MAINTAINS TRANSPARENCY THROUGHOUT ORGANIZATION AND DIRECTOR MEETINGS. IF A DIRECTOR HAS A CONFLICT THEN THEY ARE REQUIRED TO RECUSE THEMSELF FROM THE DISCUSSION AND VOTE.
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$761,027
Liabilities
$265,476
Net assets
$495,551
Revenue
$744,355
Expenses
$617,734
Net income
$126,621
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.26$2.14$6.12$5.12$3.52$1.60
2023Detailed filing. Detailed filing data is available for this year.$6.68$2.17$4.50$6.36$7.42$1.06
2022Detailed filing. Detailed filing data is available for this year.$8.16$2.60$5.56$7.93$6.89$1.04
2021Detailed filing. Detailed filing data is available for this year.$7.61$2.65$4.96$7.44$6.18$1.27
2020Detailed filing. Detailed filing data is available for this year.$4.07$0.38$3.69$5.43$4.08$1.35
2019Detailed filing. Detailed filing data is available for this year.$2.45$0.08$2.37$2.30$1.49$0.82
2018Detailed filing. Detailed filing data is available for this year.$1.56$0.01$1.55$1.80$0.84$0.95
2017Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.63$0.87$0.75$0.12
2016Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.85$0.34$0.51