Civic Intelligence

Treasured Vessels Foundation

990 • Fiscal year 2023 • EIN 46-3947870

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

0.33x

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

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

Liabilities / Revenue

82nd percentile

0.34x

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

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

Net Margin

18th percentile

-17%

Higher net margin than 18% of similar nonprofits.

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

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

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

Asset Growth

12th percentile

-18%

Faster asset growth than 12% of similar nonprofits.

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

Revenue Growth

18th percentile

-20%

Faster revenue growth than 18% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$667,591

Down $148,246 (-18%) from 2022

Net Assets

Down

$450,128

Down $105,826 (-19%) from 2022

Liabilities

Down

$217,463

Down $42,420 (-16%) from 2022

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin18th percentile

Revenue

Down

$635,941

Down $156,684 (-20%) from 2022

Expenses

Up

$741,767

Up $53,034 (+7.7%) from 2022

Net Income

Down

-$105,826

Down $209,718 (-202%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2023

Assets$667,591
Liabilities$217,463
Net Assets$450,128
Open 2023 Filing

Operations Trend

Revenue Growth18th 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

2023

Revenue$635,941
Expenses$741,767
Net Income-$105,826
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$650,256
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$444,456$444,419▼ $37
Cash and Non-Interest-Bearing Accounts$265,111$199,438▼ $65,673
Pledges and Grants Receivable$110,498$21,234▼ $89,264
Prepaid Expenses and Deferred Charges$2,500$2,500→ $0
Total Assets$822,565$667,591▼ $154,974
Liabilities
Mortgage Notes Payable Secured by Investment Property$225,557$217,157▼ $8,400
Accounts Payable and Accrued Expenses$34,326$306▼ $34,020
Total Liabilities$259,883$217,463▼ $42,420
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$448,533$397,063▼ $51,470
Net Assets With Donor Restrictions$114,149$53,065▼ $61,084
Total Net Assets Fund Balance$562,682$450,128▼ $112,554
Total Liabilities and Net Assets / Fund Balance$822,565$667,591▼ $154,974

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$329,694-$329,694
Land$111,725-$111,725
Equipment$3,000$12,000$15,000
Compensation and Service Providers
Top Officer Pay54th 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
$523,727
Program Service Revenue
$100,116
Investment Income
$0
Other Revenue
$12,098
All Other Contributions
$113
Change in Net Assets
$-105,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,691
Salaries, Compensation, and Employee Benefits$358,076
Total Fundraising Expense$27,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$217,400$92,685$18,925$329,010
All Other Expenses$134,095$520$6,655$141,270
Occupancy$30,269$5,543-$35,812
Payroll Taxes$18,454$9,067$1,545$29,066
Conferences and Meetings$9,774--$9,774
Interest$9,434--$9,434
Insurance$9,393--$9,393
Other Expenses$136,682$5,960-$5,960
Office Expenses$1,353$4,307-$5,660
Depreciation Depletion$3,000--$3,000
Travel$1,588$1,160-$2,748
Total Functional Expenses$575,897$138,745$27,125$741,767
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$26,413
Fundraising Direct Expenses$14,315
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$26,414$26,414$1,377$25,037
Total Events$26,414$26,414$14,316$12,098
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
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
11

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

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

Open filing
Assets
$667,591
Liabilities
$217,463
Net assets
$450,128
Revenue
$635,941
Expenses
$741,767
Net income
-$105,826
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