Civic Intelligence

Common Wealth Associates Inc

990 • Fiscal year 2018 • EIN 30-0842673

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 30, 2019

Organization Profilewww.commonwealthcharlotte.org
5301 Wilkinson BlvdCharlotte, NC 28208

(980) 636-1262

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • NTEE B90 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • NTEE B90 • <$500k nonprofits • Source year 2018

Net Margin

70th percentile

18%

Higher net margin than 70% of similar nonprofits.

2018 filings • NTEE B90 • <$500k nonprofits • Source year 2018

Top Officer Pay

95th percentile

$70,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 20.9% of source-year revenue.

2018 filings • NTEE B90 • <$500k nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets55th percentile

Assets

$275,606

No earlier filing loaded for comparison.

Net Assets

$275,606

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin70th percentile

Revenue

$335,726

No earlier filing loaded for comparison.

Expenses

$274,112

No earlier filing loaded for comparison.

Net Income

$61,614

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $275,606Liabilities 2018: $0Net Assets 2018: $275,6062018Assets 2019: $334,634Liabilities 2019: $6,410Net Assets 2019: $328,2242019Assets 2020: $958,487Liabilities 2020: $82,455Net Assets 2020: $876,0322020Assets 2021: $1,144,814Liabilities 2021: $21,198Net Assets 2021: $1,123,6162021Assets 2022: $1,358,848Liabilities 2022: $2,403Net Assets 2022: $1,356,4452022Assets 2023: $1,254,720Liabilities 2023: $3,070Net Assets 2023: $1,251,6502023Assets 2024: $1,894,145Liabilities 2024: $15,522Net Assets 2024: $1,878,6232024Assets 2025: $1,634,934Liabilities 2025: $18,444Net Assets 2025: $1,616,4902025

Highlighted filing

2018

Assets$275,606
Liabilities$0
Net Assets$275,606
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0MRevenue 2018: $335,726Expenses 2018: $274,112Net Income 2018: $61,6142018Revenue 2019: $386,859Expenses 2019: $348,276Net Income 2019: $38,5832019Revenue 2020: $1,220,201Expenses 2020: $672,393Net Income 2020: $547,8082020Revenue 2021: $995,368Expenses 2021: $747,784Net Income 2021: $247,5842021Revenue 2022: $1,217,471Expenses 2022: $984,642Net Income 2022: $232,8292022Revenue 2023: $1,153,438Expenses 2023: $1,258,233Net Income 2023: -$104,7952023Revenue 2024: $1,938,486Expenses 2024: $1,311,513Net Income 2024: $626,9732024Revenue 2025: $1,191,040Expenses 2025: $1,453,173Net Income 2025: -$262,1332025

Highlighted filing

2018

Revenue$335,726
Expenses$274,112
Net Income$61,614
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 30, 2019
Return Version
2017v2.2
Gross Receipts
$335,726
Mission and Program Overview

Mission

To empower Charlotte's low wage workers to achieve financial independence through innovative education and financial products.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$213,992$270,217▲ $56,225
Other Notes and Loans Receivable, Net-$5,389-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$213,992$275,606▲ $61,614
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$213,992$250,606▲ $36,614
Temporarily Rstr Net Assets-$25,000-
Total Net Assets Fund Balance$213,992$275,606▲ $61,614
Total Liabilities and Net Assets / Fund Balance$213,992$275,606▲ $61,614
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Chuck JonesExecutive DirectorFT$70,000$70,000

Board Members and Trustees

NameTitle
Cristy TravaglinoBoard Chair
Danielle RogersDirector
Darren AshDirector
John HeimburgerDirector
Mary Lou DalyDirector
Paul FinnenDirector
Stephen SmithDirector
LaQuandra JonesSecretary
Pat RyanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$335,472
Program Service Revenue
$0
Investment Income
$254
Other Revenue
$0
All Other Contributions
$335,472
Change in Net Assets
$61,614

Audited Revenue Reconciliation

Revenue per Audited Statements
$335,726
Total Revenue per Audited Statements
$335,726
Total Revenue per Form 990
$335,726
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$197,328
Other Expenses$76,784
Total Fundraising Expense$11,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$114,596$6,366$6,366$127,328
Current Officers, Directors, Trustees, and Key Employees$63,000$3,500$3,500$70,000
Fees for Services Other$15,325$258-$15,583
Office Expenses$3,748$3,748-$7,496
Travel$2,363--$2,363
Advertising$104$1,915$104$2,123
Insurance-$2,090-$2,090
All Other Expenses$681$98$1,150$1,929
Other Expenses$526$1,212-$1,738
Payments to Affiliates$1,701--$1,701
Information Technology-$207$207$414
Total Functional Expenses$243,391$19,394$11,327$274,112

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$274,112
Total Expenses per Audited Statements$274,112
Total Expenses per Form 990$274,112
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
No
Backup withholding compliance
Yes
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 11B: Form 990 Review Process

“The full Board of Directors will review the Form 990 at their board meeting, after this filing has been made to the IRS.”

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

“Available upon request”

Filing and Contact Details

Filer

Filer Name
Common Wealth Charlotte Inc
EIN
30-0842673
Phone
9806361262
Address
5301 Wilkinson Blvd, Charlotte, NC 28208

Signing Officer

Name
Chuck Jones
Title
Executive Director
Signed
2019-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chuck Jones
Formed
2014
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
20

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990/ProgSrvcAccomActy3Grp/Desc0Financial empowerment workshops focus on building relationships and trust, exploring financial security, identifying barriers to success, understanding the dollar value of work, budget stretching techniques, credit report analysis, and the value of a banking relationship.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt057251
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0273250
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0177
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt057973
IRS990/PYRevenuesLessExpensesAmt0126021
IRS990/PYSalariesCompEmpBnftPaidAmt087015
IRS990/PYTotalExpensesAmt0147406
IRS990/PYTotalProfFndrsngExpnsAmt02418
IRS990/PYTotalRevenueAmt0273427
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt061614
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0335472
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0273250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt057900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0135525
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0802147
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0254
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0177
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt032
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0574
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0802147
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0335472
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0273250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt057900
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0135525
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0802147
IRS990ScheduleA/TotalSupportAmt0802721
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0274112
IRS990ScheduleD/RevenueSubtotalAmt0335726
IRS990ScheduleD/TotalExpensesPerForm990Amt0274112
IRS990ScheduleD/TotalRevenuePerForm990Amt0335726
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0335726
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0274112
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The full Board of Directors will review the Form 990 at their board meeting, after this filing has been made to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt025000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0213992
IRS990/TotalAssetsEOYAmt0275606
IRS990/TotalAssetsGrp/BOYAmt0213992
IRS990/TotalAssetsGrp/EOYAmt0275606
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0335472
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt011327
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt019394
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0243391
IRS990/TotalFunctionalExpensesGrp/TotalAmt0274112
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0213992
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0275606
IRS990/TotalProgramServiceExpensesAmt0243391
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/ExclusionAmt0254
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0335726
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0213992
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0275606
IRS990/TravelGrp/ProgramServicesAmt02363
IRS990/TravelGrp/TotalAmt02363
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0213992
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0250606
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05301 Wilkinson Blvd
IRS990/USAddress/CityNm0Charlotte
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028208
IRS990/VotingMembersGoverningBodyCnt09

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$275,606
Liabilities
$0
Net assets
$275,606
Revenue
$335,726
Expenses
$274,112
Net income
$61,614
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$0.02$1.62$1.19$1.45$0.26
2024Detailed filing. Detailed filing data is available for this year.$1.89$0.02$1.88$1.94$1.31$0.63
2023Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$1.15$1.26$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$1.22$0.98$0.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.02$1.12$1.00$0.75$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.96$0.08$0.88$1.22$0.67$0.55
2019Detailed filing. Detailed filing data is available for this year.$0.33$0.01$0.33$0.39$0.35$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.34$0.27$0.06