Civic Intelligence

Treasured Vessels Foundation

990 • Fiscal year 2022 • EIN 46-3947870

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

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

0.32x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.33x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

61st percentile

13%

Higher net margin than 61% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

60th percentile

7.2%

Faster asset growth than 60% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

48th percentile

6.5%

Faster revenue growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$815,837

Up $54,810 (+7.2%) from 2021

Net Assets

Up

$555,954

Up $60,403 (+12%) from 2021

Liabilities

Down

$259,883

Down $5,593 (-2.1%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin61st percentile

Revenue

Up

$792,625

Up $48,270 (+6.5%) from 2021

Expenses

Up

$688,733

Up $70,999 (+11%) from 2021

Net Income

Down

$103,892

Down $22,729 (-18%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth60th 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

2022

Assets$815,837
Liabilities$259,883
Net Assets$555,954
Open 2022 Filing

Operations Trend

Revenue Growth48th 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

2022

Revenue$792,625
Expenses$688,733
Net Income$103,892
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$793,495
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$443,691$437,728▼ $5,963
Cash and Non-Interest-Bearing Accounts$314,836$265,111▼ $49,725
Pledges and Grants Receivable-$110,498-
Prepaid Expenses and Deferred Charges$2,500$2,500→ $0
Total Assets$761,027$815,837▲ $54,810
Liabilities
Mortgage Notes Payable Secured by Investment Property$233,681$225,557▼ $8,124
Accounts Payable and Accrued Expenses$31,795$34,326▲ $2,531
Total Liabilities$265,476$259,883▼ $5,593
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$381,402$441,805▲ $60,403
Net Assets With Donor Restrictions$114,149$114,149→ $0
Total Net Assets Fund Balance$495,551$555,954▲ $60,403
Total Liabilities and Net Assets / Fund Balance$761,027$815,837▲ $54,810

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$316,936$2,963$319,899
Land$111,725-$111,725
Equipment$6,000$9,000$15,000
Other Land Buildings$3,067-$3,067
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Alicia BushCEO President
Charlyn PlunkDirector
David BeckettDirector
Dugan KelleyDirector
Kate ValentDirector
Katie SingletonDirector
RYAN McCOYDirector
Tamiel KenneyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$649,903
Program Service Revenue
$91,477
Investment Income
$0
Other Revenue
$51,245
All Other Contributions
$13
Change in Net Assets
$103,892
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$362,849
Salaries, Compensation, and Employee Benefits$325,884
Total Fundraising Expense$39,167
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$156,214$112,398$31,943$300,555
Other Expenses$142,083$20,590$4,375$167,048
All Other Expenses$110,048$8,999$100$119,147
Occupancy$25,722--$25,722
Payroll Taxes$12,828$9,752$2,749$25,329
Insurance$2,893$8,714-$11,607
Interest$9,710--$9,710
Office Expenses-$4,433-$4,433
Travel$2,579$1,337-$3,916
Depreciation Depletion$3,000--$3,000
Total Functional Expenses$475,325$174,241$39,167$688,733
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$52,115
Fundraising Direct Expenses$870
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ladies Luncheon$52,115$52,115-$52,115
Total Events$52,115$52,115$870$51,245
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
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, 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
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
12

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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IRS990ScheduleA/OtherIncome170Grp/TotalAmt01920
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IRS990ScheduleA/PublicSupportCY170Pct00.99910
IRS990ScheduleA/PublicSupportPY170Pct00.99880
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IRS990ScheduleA/TotalSupportAmt02178069
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0316936
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02963
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0319899
IRS990ScheduleD/EquipmentGrp/BookValueAmt06000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015000
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IRS990ScheduleD/LandGrp/BookValueAmt0111725
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0111725
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03067
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03067
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0870
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0LADIES LUNCHEON
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt0870
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt0870
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt052115
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt052115
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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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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line LINE 12C
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0475325
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0259883
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IRS990/TotalProgramServiceRevenueAmt091477
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0815837
IRS990/TravelGrp/ManagementAndGeneralAmt01337
IRS990/TravelGrp/ProgramServicesAmt02579
IRS990/TravelGrp/TotalAmt03916
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0PO BOX 2256
IRS990/USAddress/CityNm0FRISCO
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075034
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.TREASUREDVESSELSFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REGINALD D SHERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CPA
ReturnHeader/BusinessOfficerGrp/PhoneNum04697098125

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$815,837
Liabilities
$259,883
Net assets
$555,954
Revenue
$792,625
Expenses
$688,733
Net income
$103,892
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