Civic Intelligence

Headwaters Charitable Trust

990 • Fiscal year 2023 • EIN 32-0056445

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

331 Schofield Street PO Box 162Curwensville, PA 16833

(814) 236-4333

Siviq Scores

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

Liabilities / Assets

68th percentile

0.20x

Higher debt load relative to assets than 68% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.97x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-14%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

9th percentile

-16%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

32nd percentile

-4.1%

Faster revenue growth than 32% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$2,882,498

Down $545,105 (-16%) from 2022

Net Assets

Down

$2,292,771

Down $82,785 (-3.5%) from 2022

Liabilities

Down

$589,727

Down $462,320 (-44%) from 2022

Revenue

Down

$604,949

Down $25,855 (-4.1%) from 2022

Expenses

Down

$686,864

Down $44,198 (-6.0%) from 2022

Net Income

Up

-$81,915

Up $18,343 (+18%) from 2022

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 2023: $2,882,498Liabilities 2023: $589,727Net Assets 2023: $2,292,7712023Assets 2024: $5,451,420Liabilities 2024: $2,990,670Net Assets 2024: $2,460,7502024

Highlighted filing

2023

Assets$2,882,498
Liabilities$589,727
Net Assets$2,292,771

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 2023: $604,949Expenses 2023: $686,864Net Income 2023: -$81,9152023Revenue 2024: $774,575Expenses 2024: $443,107Net Income 2024: $331,4682024

Highlighted filing

2023

Revenue$604,949
Expenses$686,864
Net Income-$81,915
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$604,949
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$1,184,509$729,232▼ $455,277
Savings and Temporary Cash Investments$214,922$119,533▼ $95,389
Investments in Publicly Traded Securities$8,109$7,238▼ $871
Cash and Non-Interest-Bearing Accounts-$6,432-
Accounts Receivable-$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$3,427,603$2,882,498▼ $545,105
Other Assets Total-$0-
Liabilities
Deferred Revenue$905,071$589,727▼ $315,344
Accounts Payable and Accrued Expenses$146,976--
Total Liabilities$1,052,047$589,727▼ $462,320
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,190,446$1,942,771▼ $247,675
Net Assets With Donor Restrictions$185,110$350,000▲ $164,890
Total Net Assets Fund Balance$2,375,556$2,292,771▼ $82,785
Total Liabilities and Net Assets / Fund Balance$3,427,603$2,882,498▼ $545,105

Asset Categories

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

Board Members and Trustees

NameTitle
Travis LesserPresident
Joshua BrockVice President
Diane HollandTrustee
Tom KaseTrustee
J Alan StewartSec/Treas

Highest Paid Contractors

ContractorServicesLocationCompensation
M Stewart ServicesEngineering136 KLINE ROAD, Sligo, PA 16255$223,914
M & B Services LLCConstruction15303 ROUTE 322, Clarion, PA 16214$133,018
Smith Gardner Engineers INCEngineering14 NORTH BOYLAN AVENUE, Raleigh, NC 27603$116,176
Revenue and Support

Revenue Composition

Contributions and Grants
$591,281
Program Service Revenue
$0
Investment Income
$1,197
Other Revenue
$12,471
All Other Contributions
$357,000
Change in Net Assets
$-81,915
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$636,119
Salaries, Compensation, and Employee Benefits$50,745
Total Fundraising Expense$150
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$40,865$4,528-$45,393
Insurance-$10,118-$10,118
Fees for Services Accounting-$9,879-$9,879
Payroll Taxes$4,110$568-$4,678
Occupancy-$4,452-$4,452
Office Expenses-$3,180-$3,180
Pension Plan Contributions$674--$674
Travel-$324-$324
Other Expenses$148-$150$148
Total Functional Expenses$653,665$33,049$150$686,864
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
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, Section B, Line 11B

Board of trustees reviewed the form 990 prior to filing.

Form 990, Part VI, Section B, Line 12C

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

Form 990, Part VI, Section C, Line 19

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
331 SCHOFIELD STREET PO BOX 162, CURWENSVILLE, PA 16833

Signing Officer

Name
Crystal Biggans
Title
Executive Director
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
3

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/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0614729
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0775
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0682787
IRS990/PYOtherRevenueAmt015300
IRS990/PYRevenuesLessExpensesAmt0-100258
IRS990/PYSalariesCompEmpBnftPaidAmt048275
IRS990/PYTotalExpensesAmt0731062
IRS990/PYTotalRevenueAmt0630804
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-81915
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0214922
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0119533
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0591281
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0614729
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0312841
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0645561
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01373322
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03537734
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01197
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0775
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0853
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01007
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0913
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04745
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.77140
IRS990ScheduleA/PublicSupportPY170Pct00.83870
IRS990ScheduleA/PublicSupportTotal170Amt02732834
IRS990ScheduleA/SubstantialContributorsTotAmt0804900
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0591281
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0614729
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0312841
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0645561
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01373322
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03537734
IRS990ScheduleA/TotalSupportAmt03542479
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/LandGrp/BookValueAmt02020063
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02020063
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02020063
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, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03427603
IRS990/TotalAssetsEOYAmt02882498
IRS990/TotalAssetsGrp/BOYAmt03427603
IRS990/TotalAssetsGrp/EOYAmt02882498
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0591281
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0150
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033049
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0653665
IRS990/TotalFunctionalExpensesGrp/TotalAmt0686864
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01052047
IRS990/TotalLiabilitiesEOYAmt0589727
IRS990/TotalLiabilitiesGrp/BOYAmt01052047
IRS990/TotalLiabilitiesGrp/EOYAmt0589727
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02375556
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02292771
IRS990/TotalProgramServiceExpensesAmt0653665
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01197
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt012471
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0604949
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03427603
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02882498
IRS990/TravelGrp/ManagementAndGeneralAmt0324
IRS990/TravelGrp/TotalAmt0324
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0331 SCHOFIELD STREET PO BOX 162
IRS990/USAddress/CityNm0CURWENSVILLE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd016833
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.HWCT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CRYSTAL BIGGANS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HEADWATERS CHARITABLE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0HEAD
ReturnHeader/Filer/EIN0320056445
ReturnHeader/Filer/PhoneNum08142364333
ReturnHeader/Filer/USAddress/AddressLine1Txt0331 SCHOFIELD STREET PO BOX 162
ReturnHeader/Filer/USAddress/CityNm0CURWENSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016833
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251065143
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Walter Hopkins & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01107 Linden Street / PO Box 910-A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Clearfield

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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
2023Detailed filing. Detailed filing data is available for this year.$2.88$0.59$2.29$0.60$0.69$0.08
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
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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