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Trusted World Foundation INC FY2021 filing

Tax-deductible

Garland, TX501(c)(3)Human Services EIN 45-5264332Revenue $2.8M in FY2021

On file with the IRStrustedworld.org613 Easy St, 75042-6812 · Garland, TXTax-exempt since Jan 2014Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$112K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $717K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$112K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
+27% vs prior year
Spent
$1.9M
To programs
89%
Net assets
$1.7M
By yearFY2020–FY2024
Revenue
$2.8M
FY2021▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.8M
FY2022$4.9M
FY2023$6.0M
FY2024$5.2M
Expenses
$1.9M
FY2021▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.9M
FY2022$3.3M
FY2023$5.7M
FY2024$5.1M
Net assets
$1.7M
FY2021▲ +126%
Tap a bar for its year
Net assets by fiscal year
FY2020$735K
FY2021$1.7M
FY2022$3.3M
FY2023$3.7M
FY2024$3.8M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.7M Management & general 8% · $154K Fundraising 2% · $46K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $112K paid to officers and key staff.

Part VII, Section A · reportable compensation
$111,800Pt VII · Sec A
Timothy Bray
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Eva Hummel
Director
$0Pt VII · Sec A
James Thomas
Director
$0Pt VII · Sec A
Brian Harvey
Director
$0Pt VII · Sec A

Michael Garrett’s $121K as CEO is at the 54th percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Michael Garrett$121,154$148,531$118,450$111,800$113,950

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Trusted World Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers free resources to those serving others.

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2021
01

Providing clothing, food, and personal care items to our clients.

$1.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Katherine C Carmody Charitable TuwFY2025$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.8M
Ln 12
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$18K
Other incomeLn 4–11$9K
Money outPt IX
$1.9M
Ln 25
Programscol B$1.7M
Managementcol C$154K
Fundraisingcol D$46K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$212K
Total assetsLn 16$1.7M
LiabilitiesLn 26$19K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Government grantsLn 1e$5K
Noncash giftsLn 1g$2.1M
Investment incomeLn 3$18K
Other incomeLn 4–11$9K
Gains on assetsLn 7$18K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$135K
SavingsLn 2$78K
Cash and savings togetherLn 1–2$212K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$18K
Other assetsLn 15$10K
Total assetsLn 16$1.7M
LiabilitiesLn 26$19K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 59
VolunteersI 63,000
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$160K$212K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$35K$18K
Total assetsLn 16$746K$1.7M
LiabilitiesLn 26$11K$19K
Net assetsLn 32$735K$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$112K$85K$27K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$132K$100K$32K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$20K$15K$5K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$46K$46K
Investment management feesLn 11f$0
Other fees for servicesLn 11g$52K$52K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$7K$5K$2K
Information technologyLn 14$9K$4K$6K
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$9K$9K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$231K$211K$20K
All other expensesLn 24e$0
Total functional expensesLn 25$1.9M$1.7M$154K$46K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.2M$5.1M$97K$3.8M 990 PDF
FY2023 $6.0M$5.7M$355K$3.7M 990 PDF
FY2022 $4.9M$3.3M$1.6M$3.3M 990 PDF
FY2021 Viewing $2.8M$1.9M$926K$1.7M 990 PDF
FY2020 $2.2M$1.6M$561K$735K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $2,777,202 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,184,696$2,750,587
I-9 Program service revenue$0
I-10 Investment incomePrior year $1$18,037
I-11 Other revenuePrior year $632$8,578
I-12 Total revenuePrior year $2,185,329$2,777,202
I-13 Grants and similar amounts paidPrior year $1,100,840$1,222,172
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $232,778$264,290
I-16a Professional fundraising feesPrior year $43,750$45,500
I-17 Other expensesPrior year $247,435$318,856
I-18 Total expensesPrior year $1,624,803$1,850,818
I-19 Revenue less expensesPrior year $560,526$926,384
Part VI · Governance 6 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,777,202 across 11 lines filed
VIII-1e Government grants$5,143
VIII-1f All other contributions, gifts and grants$2,745,444
VIII-1g Noncash contributions (included above)$2,070,819
VIII-1h Total contributions, gifts and grants$2,750,587
VIII-3 Investment incomeExcluded from tax $2$2
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $18,035$18,035
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,578$8,578
VIII-12 Total revenueRelated to mission $8,578 · Excluded from tax $18,037$2,777,202
Part IX · Statement of functional expenses $1,850,818 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $1,222,172$1,222,172
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $84,700 · Management $27,100$111,800
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $100,125 · Management $32,050$132,175
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $15,391 · Management $4,924$20,315
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $45,500$45,500
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $52,117$52,117
IX-12 Advertising and promotionManagement $10,181$10,181
IX-13 Office expensesPrograms $4,990 · Management $1,803$6,793
IX-14 Information technologyPrograms $3,743 · Management $5,628$9,371
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $9,226$9,226
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $210,755 · Management $20,413$231,168
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $1,651,102 · Management $154,216 · Fundraising $45,500$1,850,818
Part X · Balance sheet $1,680,132 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $153,788$134,533
X-2 Savings and temporary cash investmentsStart of year $5,795$77,597
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or useStart of year $541,228$1,439,240
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $34,619$18,429
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $10,333$10,333
X-16 Total assetsStart of year $745,763$1,680,132
X-17 Accounts payable and accrued expensesStart of year $10,698$18,683
X-26 Total liabilitiesStart of year $10,698$18,683
X-27 Net assets without donor restrictionsStart of year $735,065$1,631,449
X-28 Net assets with donor restrictions$30,000
X-32 Total net assets or fund balancesStart of year $735,065$1,661,449
X-33 Total liabilities and net assetsStart of year $745,763$1,680,132
Part XI · Reconciliation of net assets $1,661,449 net assets at year end
XI-1 Total revenue$2,777,202
XI-2 Total expenses$1,850,818
XI-3 Revenue less expenses$926,384
XI-4 Net assets at start of year$735,065
XI-10 Net assets at end of year$1,661,449

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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