Civic Intelligence

Watershed Charlotte Inc.

990 • Fiscal year 2019 • EIN 36-4571824

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 10, 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

86th percentile

0.62x

Higher debt load relative to assets than 86% of similar nonprofits.

2019 filings • NTEE X • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

1.85x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • NTEE X • $1M-$5M nonprofits • Source year 2019

Net Margin

42nd percentile

1.4%

Higher net margin than 42% of similar nonprofits.

2019 filings • NTEE X • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$77,483

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 12.2% of source-year revenue.

2019 filings • NTEE X • $1M-$5M nonprofits • Source year 2019

Asset Growth

30th percentile

-1.7%

Faster asset growth than 30% of similar nonprofits.

2019 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

36th percentile

-6.1%

Faster revenue growth than 36% of similar nonprofits.

2019 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,871,327

Down $32,393 (-1.7%) from 2018

Net Assets

Up

$703,036

Up $8,928 (+1.3%) from 2018

Liabilities

Down

$1,168,291

Down $41,321 (-3.4%) from 2018

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin42nd percentile

Revenue

Down

$632,959

Down $41,178 (-6.1%) from 2018

Expenses

Down

$624,031

Down $102,873 (-14%) from 2018

Net Income

Up

$8,928

Up $61,695 (+117%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

2019

Assets$1,871,327
Liabilities$1,168,291
Net Assets$703,036
Open 2019 Filing

Operations Trend

Revenue Growth36th percentile

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

2019

Revenue$632,959
Expenses$624,031
Net Income$8,928
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 10, 2021
Return Version
2019v5.1
Gross Receipts
$632,959
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$1,724,006$1,681,675▼ $42,331
Savings and Temporary Cash Investments$117,808$108,778▼ $9,030
Cash and Non-Interest-Bearing Accounts$61,906$80,874▲ $18,968
Total Assets$1,903,720$1,871,327▼ $32,393
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,166,514$1,164,692▼ $1,822
Unsecured Notes Loans Payable$1,090$3,195▲ $2,105
Accounts Payable and Accrued Expenses$42,008$404▼ $41,604
Total Liabilities$1,209,612$1,168,291▼ $41,321
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$694,108$703,036▲ $8,928
Total Net Assets Fund Balance$694,108$703,036▲ $8,928
Total Liabilities and Net Assets / Fund Balance$1,903,720$1,871,327▼ $32,393

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,555,675$95,245$1,650,920
Land$126,000-$126,000
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew OneilCo-pastorFT$43,941$33,542$77,483
Scott HoffertCo-pastorFT-$77,483$77,483
Jordan NeelsSecretarytreasurerFT$29,467-$29,467

Board Members and Trustees

NameTitle
Desmond SmithElder
Rachel CookElder
Rich RoblesElder
Shawn Bowers-buxtonElder
Revenue and Support

Revenue Composition

Contributions and Grants
$609,804
Program Service Revenue
$0
Investment Income
$1,710
Other Revenue
$21,445
All Other Contributions
$609,804
Change in Net Assets
$8,928
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$358,704
Other Expenses$242,329
Grants and Similar Amounts Paid$22,998
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$77,483$106,950-$184,433
Other Salaries and Wages-$139,596-$139,596
Occupancy-$74,019-$74,019
Depreciation Depletion-$42,331-$42,331
Other Employee Benefits-$34,675-$34,675
Office Expenses-$25,761-$25,761
Fees for Services Other-$17,042-$17,042
Grants to Domestic Orgs$12,961--$12,961
Advertising-$12,808-$12,808
Information Technology-$11,102-$11,102
Insurance-$10,846-$10,846
Other Expenses$32,141$9,053-$9,053
Foreign Grants$7,605--$7,605
Conferences and Meetings-$5,316-$5,316
Grants to Domestic Individuals$2,432--$2,432
Fees for Services Accounting-$1,910-$1,910
Total Functional Expenses$132,622$491,409$0$624,031
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Deepstream MinistriesPensacola, FL501c3Education and Teacher Salaries$5,000
Foster Village CharlotteCharlotte, NC501 C 3Support for Foster Families$5,000
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 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
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
2021-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Hoffert
Formed
2005
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
4
Employees
10
Volunteers
50

Preparer

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

Additional Explanations

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

“Part iii, line 4d: $5096 other program services, $2432 of that was given to a single mother in the local area who experience a house fire and needed immediate housing assistance. 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.”

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01555675
IRS990ScheduleD/BuildingsGrp/DepreciationAmt095245
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01650920
IRS990ScheduleD/LandGrp/BookValueAmt0126000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0126000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01681675
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt05000
IRS990ScheduleI/RecipientTable/CashGrantAmt15000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501 C 3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EDUCATION AND TEACHER SALARIES
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT FOR FOSTER FAMILIES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DEEPSTREAM MINISTRIES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1FOSTER VILLAGE CHARLOTTE
IRS990ScheduleI/RecipientTable/RecipientEIN0202278206
IRS990ScheduleI/RecipientTable/RecipientEIN1824729146
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01765 E NINE MILE RD STE 1 NO 389
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 77672
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Pensacola
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Charlotte
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd032514
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd128271
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/Total501c3OrgCnt02
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/ExplanationTxt2PART III, LINE 4D: $5096 OTHER PROGRAM SERVICES, $2432 OF THAT WAS GIVEN TO A SINGLE MOTHER IN THE LOCAL AREA WHO EXPERIENCE A HOUSE FIRE AND NEEDED IMMEDIATE HOUSING ASSISTANCE. 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/FormAndLineReferenceDesc2Part III response or note to any other line in Part III
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01903720
IRS990/TotalAssetsEOYAmt01871327
IRS990/TotalAssetsGrp/BOYAmt01903720
IRS990/TotalAssetsGrp/EOYAmt01871327
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0609804
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0491409
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0132622
IRS990/TotalFunctionalExpensesGrp/TotalAmt0624031
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01209612
IRS990/TotalLiabilitiesEOYAmt01168291
IRS990/TotalLiabilitiesGrp/BOYAmt01209612
IRS990/TotalLiabilitiesGrp/EOYAmt01168291
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0694108
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0703036
IRS990/TotalOtherCompensationAmt0111025
IRS990/TotalOtherProgSrvcExpenseAmt05096
IRS990/TotalOtherProgSrvcGrantAmt02432
IRS990/TotalProgramServiceExpensesAmt0132622
IRS990/TotalReportableCompFromOrgAmt073408
IRS990/TotalRevenueGrp/ExclusionAmt023155
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0632959
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01903720
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01871327
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01090
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt03195
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
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/SignatureDt02021-09-10
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/PreparationDt02021-09-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA WISE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-09-21T08:45:31-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,871,327
Liabilities
$1,168,291
Net assets
$703,036
Revenue
$632,959
Expenses
$624,031
Net income
$8,928
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