Civic Intelligence

Watershed Charlotte Inc.

990 • Fiscal year 2018 • EIN 36-4571824

Jan 01, 2018 to Dec 31, 2018 • Filed on May 12, 2021

Organization Profilewww.watershedcharlotte.com
2101 Shenandoah AveCharlotte, NC 28205-6021

(704) 644-0919

Siviq Scores

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

Liabilities / Assets

87th percentile

0.64x

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

2018 filings • NTEE X • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

1.79x

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

2018 filings • NTEE X • $1M-$5M nonprofits • Source year 2018

Net Margin

21st percentile

-7.8%

Higher net margin than 21% of similar nonprofits.

2018 filings • NTEE X • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

83rd percentile

$92,742

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

2018 filings • NTEE X • $1M-$5M 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 / Assets87th percentile

Assets

$1,903,720

No earlier filing loaded for comparison.

Net Assets

$694,108

No earlier filing loaded for comparison.

Liabilities

$1,209,612

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin21st percentile

Revenue

$674,137

No earlier filing loaded for comparison.

Expenses

$726,904

No earlier filing loaded for comparison.

Net Income

-$52,767

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: $1,903,720Liabilities 2018: $1,209,612Net Assets 2018: $694,1082018Assets 2019: $1,871,327Liabilities 2019: $1,168,291Net Assets 2019: $703,0362019Assets 2020: $1,911,257Liabilities 2020: $1,248,663Net Assets 2020: $662,5942020Assets 2021: $1,830,749Liabilities 2021: $1,096,769Net Assets 2021: $733,9802021Assets 2022: $1,768,082Liabilities 2022: $1,030,576Net Assets 2022: $737,5062022Assets 2023: $1,698,660Liabilities 2023: $987,661Net Assets 2023: $710,9992023Assets 2024: $1,622,550Liabilities 2024: $911,238Net Assets 2024: $711,3122024

Highlighted filing

2018

Assets$1,903,720
Liabilities$1,209,612
Net Assets$694,108
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2018: $674,137Expenses 2018: $726,904Net Income 2018: -$52,7672018Revenue 2019: $632,959Expenses 2019: $624,031Net Income 2019: $8,9282019Revenue 2020: $644,892Expenses 2020: $685,334Net Income 2020: -$40,4422020Revenue 2021: $749,539Expenses 2021: $661,268Net Income 2021: $88,2712021Revenue 2022: $672,883Expenses 2022: $684,901Net Income 2022: -$12,0182022Revenue 2023: $710,927Expenses 2023: $734,517Net Income 2023: -$23,5902023Revenue 2024: $656,380Expenses 2024: $649,026Net Income 2024: $7,3542024

Highlighted filing

2018

Revenue$674,137
Expenses$726,904
Net Income-$52,767
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 12, 2021
Return Version
2018v3.1
Gross Receipts
$674,137
Mission and Program Overview

Mission

Gathering on sundays for song, teaching and discussion, as well as in small groups during the week. Provide financial assistance to both local and global communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,766,337$1,724,006▼ $42,331
Savings and Temporary Cash Investments$491$117,808▲ $117,317
Cash and Non-Interest-Bearing Accounts$229,571$61,906▼ $167,665
Total Assets$1,996,399$1,903,720▼ $92,679
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,204,581$1,166,514▼ $38,067
Accounts Payable and Accrued Expenses$44,114$42,008▼ $2,106
Unsecured Notes Loans Payable$829$1,090▲ $261
Total Liabilities$1,249,524$1,209,612▼ $39,912
Net Assets / Fund Balance
Unrestricted Net Assets$746,875$694,108▼ $52,767
Total Net Assets Fund Balance$746,875$694,108▼ $52,767
Total Liabilities and Net Assets / Fund Balance$1,996,399$1,903,720▼ $92,679

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,598,006$52,914$1,650,920
Land$126,000-$126,000
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott HoffertCo-pastorFT-$92,742$92,742
Matthew OneilCo-pastorFT$45,270$45,680$90,950
Abigail FaySecretarytreasurerFT$27,851-$27,851

Board Members and Trustees

NameTitle
Desmond SmithElder
Rachel CookElder
Rich RoblesElder
Revenue and Support

Revenue Composition

Contributions and Grants
$673,080
Program Service Revenue
$0
Investment Income
$1,057
Other Revenue
$0
All Other Contributions
$673,080
Change in Net Assets
$-52,767
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$386,836
Other Expenses$312,646
Grants and Similar Amounts Paid$27,422
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$80,269$108,121-$188,390
Other Salaries and Wages-$167,450-$167,450
Occupancy-$157,717-$157,717
Other Employee Benefits-$30,996-$30,996
Depreciation Depletion-$30,310-$30,310
Office Expenses-$20,203-$20,203
Fees for Services Other-$16,780-$16,780
Grants to Domestic Orgs$16,059--$16,059
Other Expenses$20,026$13,335-$13,335
Information Technology-$11,408-$11,408
Fees for Services Legal-$11,087-$11,087
Insurance-$11,087-$11,087
Conferences and Meetings-$10,101-$10,101
Advertising-$7,653-$7,653
Grants to Domestic Individuals$7,355--$7,355
Foreign Grants$4,008--$4,008
Fees for Services Accounting-$1,854-$1,854
All Other Expenses-$1,085-$1,085
Total Functional Expenses$127,717$599,187$0$726,904
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Deepstream MinistriesPensacola, FL501c3Education and Teacher Salaries$11,677
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“No review was or will be conducted.”

Governing documents etc available to public Part VI line 19

“No other governing documents are made available to the public.”

Filing and Contact Details

Filer

Filer Name
Watershed Charlotte
EIN
36-4571824
Address
2101 SHENANDOAH AVE, Charlotte, NC 28205-6021

Signing Officer

Name
Scott Hofert
Title
Co-pastor
Phone
7046440919
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Hoffert
Formed
2005
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
3
Employees
6
Volunteers
25

Preparer

Firm
Wise CPA Pllc
Address
6032 BRATTON PL, Charlotte, NC 28277
Preparer
Joanna Wise
Phone
7049963542
Supplemental Narrative

Additional Explanations

Balance Sheet Part X

“Watershed charlotte was formed in year 2005, qualifying for an exemption from federal income tax, but filed for and received notification of 501(c)(3) status on august 27, 2018. As a result, 2018 was the initial year a form 990 was required. Beginning of year balance sheet amounts are provided.”

Part III response or note to any other line in Part III

“Part iii, line 4d: $4008 other program services are grants to foreign organizations in alignment with watershed charlottes mission. Guidelines used by watershed charlotte to select worthy grant recipients includes: some connection with the local community, an emphasis on the areas of children and education, and the ability to make an impact relative to the size of the grant given.”

Raw XML Appendix349 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0WATERSHED CHARLOTTE DETERMINES GRANT RECIPIENTS WILL USE FUNDS FOR INTENDED PURPOSES BY EITHER DONATING TO ANOTHER 501(C)(3) ORGANIZATION OR MAINTAINING A CLOSE CONNECTION WITH THE RECIPIENT SO THAT THEY ARE KNOWLEDGEABLE OF THE GRANT RECIPIENTS ACTIVITIES AND GENERAL USE OF FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO OTHER GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WATERSHED CHARLOTTE WAS FORMED IN YEAR 2005, QUALIFYING FOR AN EXEMPTION FROM FEDERAL INCOME TAX, BUT FILED FOR AND RECEIVED NOTIFICATION OF 501(C)(3) STATUS ON AUGUST 27, 2018. AS A RESULT, 2018 WAS THE INITIAL YEAR A FORM 990 WAS REQUIRED. BEGINNING OF YEAR BALANCE SHEET AMOUNTS ARE PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PART III, LINE 4D: $4008 OTHER PROGRAM SERVICES ARE GRANTS TO FOREIGN ORGANIZATIONS IN ALIGNMENT WITH WATERSHED CHARLOTTES MISSION. GUIDELINES USED BY WATERSHED CHARLOTTE TO SELECT WORTHY GRANT RECIPIENTS INCLUDES: SOME CONNECTION WITH THE LOCAL COMMUNITY, AN EMPHASIS ON THE AREAS OF CHILDREN AND EDUCATION, AND THE ABILITY TO MAKE AN IMPACT RELATIVE TO THE SIZE OF THE GRANT GIVEN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Balance Sheet Part X
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part III response or note to any other line in Part III
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01996399
IRS990/TotalAssetsEOYAmt01903720
IRS990/TotalAssetsGrp/BOYAmt01996399
IRS990/TotalAssetsGrp/EOYAmt01903720
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0673080
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0599187
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0127717
IRS990/TotalFunctionalExpensesGrp/TotalAmt0726904
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01249524
IRS990/TotalLiabilitiesEOYAmt01209612
IRS990/TotalLiabilitiesGrp/BOYAmt01249524
IRS990/TotalLiabilitiesGrp/EOYAmt01209612
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0746875
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0694108
IRS990/TotalOtherCompensationAmt0138422
IRS990/TotalOtherProgSrvcExpenseAmt04008
IRS990/TotalProgramServiceExpensesAmt0127717
IRS990/TotalReportableCompFromOrgAmt073121
IRS990/TotalRevenueGrp/ExclusionAmt01057
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0674137
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01996399
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01903720
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0746875
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0694108
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0829
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01090
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.watershedcharlotte.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT HOFERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-PASTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07046440919
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATERSHED CHARLOTTE
ReturnHeader/Filer/BusinessNameControlTxt0WATE
ReturnHeader/Filer/EIN0364571824
ReturnHeader/Filer/USAddress/AddressLine1Txt02101 SHENANDOAH AVE
ReturnHeader/Filer/USAddress/CityNm0Charlotte
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0282056021
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0833601353
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WISE CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06032 BRATTON PL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Charlotte
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028277
ReturnHeader/PreparerPersonGrp/PhoneNum07049963542
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA WISE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-05-14T14:13:47-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,903,720
Liabilities
$1,209,612
Net assets
$694,108
Revenue
$674,137
Expenses
$726,904
Net income
-$52,767
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.62$0.91$0.71$0.66$0.65$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.70$0.99$0.71$0.71$0.73$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.77$1.03$0.74$0.67$0.68$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.83$1.10$0.73$0.75$0.66$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.91$1.25$0.66$0.64$0.69$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.87$1.17$0.70$0.63$0.62$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.90$1.21$0.69$0.67$0.73$0.05