Civic Intelligence

Headwaters Charitable Trust

990 • Fiscal year 2021 • EIN 32-0056445

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

434 State Street 1Curwensville, PA 16833

(814) 236-4333

Siviq Scores

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

Liabilities / Assets

71st percentile

0.25x

Higher debt load relative to assets than 71% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

2.50x

Higher debt load relative to revenue than 93% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

10th percentile

-20%

Higher net margin than 10% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

14th percentile

-4.2%

Faster asset growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

5th percentile

-51%

Faster revenue growth than 5% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$3,290,440

Down $145,698 (-4.2%) from 2020

Net Assets

Down

$2,475,918

Down $65,201 (-2.6%) from 2020

Liabilities

Down

$814,522

Down $80,497 (-9.0%) from 2020

Revenue

Down

$325,330

Down $334,752 (-51%) from 2020

Expenses

Down

$391,355

Down $339,780 (-46%) from 2020

Net Income

Up

-$66,025

Up $5,028 (+7.1%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $878,875Liabilities 2011: $342,466Net Assets 2011: $536,4092011Assets 2012: $1,031,110Liabilities 2012: $566,085Net Assets 2012: $465,0252012Assets 2013: $1,465,220Liabilities 2013: $990,386Net Assets 2013: $474,8342013Assets 2014: $1,932,756Liabilities 2014: $1,214,357Net Assets 2014: $718,3992014Assets 2015: $1,450,476Liabilities 2015: $912,689Net Assets 2015: $537,7872015Assets 2016: $3,730,734Liabilities 2016: $3,321,192Net Assets 2016: $409,5422016Assets 2017: $3,628,402Liabilities 2017: $1,343,265Net Assets 2017: $2,285,1372017Assets 2018: $3,973,788Liabilities 2018: $1,653,918Net Assets 2018: $2,319,8702018Assets 2019: $3,652,527Liabilities 2019: $1,038,099Net Assets 2019: $2,614,4282019Assets 2020: $3,436,138Liabilities 2020: $895,019Net Assets 2020: $2,541,1192020Assets 2021: $3,290,440Liabilities 2021: $814,522Net Assets 2021: $2,475,9182021Assets 2022: $3,427,603Liabilities 2022: $1,052,047Net Assets 2022: $2,375,5562022Assets 2024: $5,451,420Liabilities 2024: $2,990,670Net Assets 2024: $2,460,7502024

Highlighted filing

2021

Assets$3,290,440
Liabilities$814,522
Net Assets$2,475,918

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $51,7402011Expenses 2012: $239,4872012Revenue 2013: $206,173Expenses 2013: $196,364Net Income 2013: $9,8092013Revenue 2014: $1,195,546Expenses 2014: $951,981Net Income 2014: $243,5652014Revenue 2015: $613,301Expenses 2015: $793,913Net Income 2015: -$180,6122015Revenue 2016: $575,422Expenses 2016: $703,667Net Income 2016: -$128,2452016Revenue 2017: $2,017,458Expenses 2017: $141,863Net Income 2017: $1,875,5952017Revenue 2018: $149,660Expenses 2018: $113,831Net Income 2018: $35,8292018Revenue 2019: $1,396,045Expenses 2019: $1,101,307Net Income 2019: $294,7382019Revenue 2020: $660,082Expenses 2020: $731,135Net Income 2020: -$71,0532020Revenue 2021: $325,330Expenses 2021: $391,355Net Income 2021: -$66,0252021Revenue 2022: $630,804Expenses 2022: $731,062Net Income 2022: -$100,2582022Revenue 2024: $774,575Expenses 2024: $443,107Net Income 2024: $331,4682024

Highlighted filing

2021

Revenue$325,330
Expenses$391,355
Net Income-$66,025
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$329,680
Mission and Program Overview

Mission

Secure public and private funding to better the lives of the citizens of north central pennsylvania through wise use, development, and protection of the region's natural resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,020,063$2,020,063→ $0
Pledges and Grants Receivable$941,778$779,165▼ $162,613
Savings and Temporary Cash Investments$466,898$482,999▲ $16,101
Investments in Publicly Traded Securities$7,389$8,213▲ $824
Accounts Receivable$10$0▼ $10
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,436,138$3,290,440▼ $145,698
Other Assets Total-$0-
Liabilities
Deferred Revenue$841,380$814,522▼ $26,858
Accounts Payable and Accrued Expenses$53,639--
Total Liabilities$895,019$814,522▼ $80,497
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,239,415$2,276,918▲ $37,503
Net Assets With Donor Restrictions$301,704$199,000▼ $102,704
Total Net Assets Fund Balance$2,541,119$2,475,918▼ $65,201
Total Liabilities and Net Assets / Fund Balance$3,436,138$3,290,440▼ $145,698

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,020,063-$2,020,063
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joshua BrockChairman
Jeff DeitrichVice Chair
J Alan StewartTrustee
Josh CostaTrustee
Ray LearnTrustee
Travis LesserTrustee
Diane HollandSec / Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$312,841
Program Service Revenue
$0
Investment Income
$853
Other Revenue
$11,636
All Other Contributions
$64,686
Change in Net Assets
$-66,025

Audited Revenue Reconciliation

Revenue per Audited Statements
$325,330
Revenue Not Reported on Form 990
$824
Total Revenue per Audited Statements
$326,154
Total Revenue per Form 990
$325,330
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$351,935
Salaries, Compensation, and Employee Benefits$39,420
Total Fundraising Expense$1,347
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$31,500$3,038-$34,538
Insurance-$8,740-$8,740
Fees for Services Accounting-$5,013-$5,013
Fees for Services Other$2,395$1,197$1,197$4,789
Occupancy-$4,362-$4,362
Payroll Taxes$3,591$346-$3,937
Office Expenses-$2,100-$2,100
Pension Plan Contributions$945--$945
Other Expenses$900-$150$150
Travel-$67-$67
Total Functional Expenses$365,145$24,863$1,347$391,355

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$391,355
Total Expenses per Audited Statements$391,355
Total Expenses per Form 990$391,355
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,837
Fundraising Direct Expenses$4,350
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 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 11B: Form 990 Review Process

Board of trustees reviewed the form 990 prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Any possible conflicts of interest are reviewed by board of trustees.

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

All public documents are available for review upon request.

Filing and Contact Details

Filer

Filer Name
Headwaters Charitable Trust
EIN
32-0056445
Phone
8142364333
Address
434 STATE STREET 1, CURWENSVILLE, PA 16833

Signing Officer

Name
Mary Jane French
Title
Executive Director
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Walter Hopkins & Company LLP
Address
1107 Linden Street / PO Box 910-A, Clearfield, PA 16830
Preparer
Katherine B Eckley CPA
Phone
8147657876
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01007
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0690781
IRS990/PYOtherRevenueAmt013514
IRS990/PYRevenuesLessExpensesAmt0-71053
IRS990/PYSalariesCompEmpBnftPaidAmt040354
IRS990/PYTotalExpensesAmt0731135
IRS990/PYTotalRevenueAmt0660082
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-66025
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0466898
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0482999
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0645561
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01373322
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt084497
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02026062
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04442283
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0853
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01007
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0913
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0539
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0605
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03917
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.78780
IRS990ScheduleA/PublicSupportPY170Pct00.81290
IRS990ScheduleA/PublicSupportTotal170Amt03502831
IRS990ScheduleA/SubstantialContributorsTotAmt0939452
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0645561
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01373322
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt084497
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02026062
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04442283
IRS990ScheduleA/TotalSupportAmt04446200
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/ExpensesSubtotalAmt0391355
IRS990ScheduleD/LandGrp/BookValueAmt02020063
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02020063
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0824
IRS990ScheduleD/RevenueNotReportedAmt0824
IRS990ScheduleD/RevenueSubtotalAmt0325330
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02020063
IRS990ScheduleD/TotalExpensesPerForm990Amt0391355
IRS990ScheduleD/TotalRevenuePerForm990Amt0325330
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0326154
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0391355
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF TRUSTEES REVIEWED THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY POSSIBLE CONFLICTS OF INTEREST ARE REVIEWED BY BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL PUBLIC DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt03290440
IRS990/TotalAssetsGrp/BOYAmt03436138
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IRS990/TotalEmployeeCnt02
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024863
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0365145
IRS990/TotalFunctionalExpensesGrp/TotalAmt0391355
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0895019
IRS990/TotalLiabilitiesEOYAmt0814522
IRS990/TotalLiabilitiesGrp/BOYAmt0895019
IRS990/TotalLiabilitiesGrp/EOYAmt0814522
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02541119
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02475918
IRS990/TotalProgramServiceExpensesAmt0365145
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0853
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010149
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0325330
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03436138
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03290440
IRS990/TravelGrp/ManagementAndGeneralAmt067
IRS990/TravelGrp/TotalAmt067
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0434 STATE STREET 1
IRS990/USAddress/CityNm0CURWENSVILLE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd016833
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.HWCT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY JANE FRENCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HEADWATERS CHARITABLE TRUST

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.45$2.99$2.46$0.77$0.44$0.33
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.43$1.05$2.38$0.63$0.73$0.10
2021Detailed filing. Detailed filing data is available for this year.$3.29$0.81$2.48$0.33$0.39$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.44$0.90$2.54$0.66$0.73$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.65$1.04$2.61$1.40$1.10$0.29
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.97$1.65$2.32$0.15$0.11$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$1.34$2.29$2.02$0.14$1.88
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$3.32$0.41$0.58$0.70$0.13
2015Detailed filing. Detailed filing data is available for this year.$1.45$0.91$0.54$0.61$0.79$0.18
2014Detailed filing. Detailed filing data is available for this year.$1.93$1.21$0.72$1.20$0.95$0.24
2013Detailed filing. Detailed filing data is available for this year.$1.47$0.99$0.47$0.21$0.20$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.57$0.47$0.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.34$0.54$0.05
Peer Organizations

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