Civic Intelligence

Watershed Charlotte Inc.

990 • Fiscal year 2020 • EIN 36-4571824

Jan 01, 2020 to Dec 31, 2020 • 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

88th percentile

0.65x

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

2020 filings • NTEE X • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.94x

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

2020 filings • NTEE X • $1M-$5M nonprofits • Source year 2020

Net Margin

24th percentile

-6.3%

Higher net margin than 24% of similar nonprofits.

2020 filings • NTEE X • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

81st percentile

$86,123

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2020 filings • NTEE X • $1M-$5M nonprofits • Source year 2020

Asset Growth

38th percentile

2.1%

Faster asset growth than 38% of similar nonprofits.

2020 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

54th percentile

1.9%

Faster revenue growth than 54% of similar nonprofits.

2020 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$1,911,257

Up $39,930 (+2.1%) from 2019

Net Assets

Down

$662,594

Down $40,442 (-5.8%) from 2019

Liabilities

Up

$1,248,663

Up $80,372 (+6.9%) from 2019

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin24th percentile

Revenue

Up

$644,892

Up $11,933 (+1.9%) from 2019

Expenses

Up

$685,334

Up $61,303 (+9.8%) from 2019

Net Income

Down

-$40,442

Down $49,370 (-553%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2020

Assets$1,911,257
Liabilities$1,248,663
Net Assets$662,594
Open 2020 Filing

Operations Trend

Revenue Growth54th 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

2020

Revenue$644,892
Expenses$685,334
Net Income-$40,442
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 10, 2021
Return Version
2020v4.1
Gross Receipts
$644,892
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$1,681,675$1,647,110▼ $34,565
Savings and Temporary Cash Investments$108,778$192,850▲ $84,072
Cash and Non-Interest-Bearing Accounts$80,874$71,297▼ $9,577
Total Assets$1,871,327$1,911,257▲ $39,930
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,164,692$1,147,968▼ $16,724
Unsecured Notes Loans Payable$3,195$72,855▲ $69,660
Accounts Payable and Accrued Expenses$404$24,610▲ $24,206
Other Liabilities-$3,230-
Total Liabilities$1,168,291$1,248,663▲ $80,372
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$703,036$662,594▼ $40,442
Total Net Assets Fund Balance$703,036$662,594▼ $40,442
Total Liabilities and Net Assets / Fund Balance$1,871,327$1,911,257▲ $39,930

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,513,344$137,576$1,650,920
Land$126,000-$126,000
Equipment$7,766$863$8,629
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew OneilCo-pastorFT$34,664$51,459$86,123
Scott HoffertCo-pastorFT-$86,123$86,123
Abigail FaySecretarytreasurerFT$41,667-$41,667
Desmond SmithElderPT$8,633-$8,633

Board Members and Trustees

NameTitle
Rich RoblesElder
Shawn Bowers BuxtonElder
Revenue and Support

Revenue Composition

Contributions and Grants
$581,492
Program Service Revenue
$9,758
Investment Income
$491
Other Revenue
$53,151
All Other Contributions
$581,492
Change in Net Assets
$-40,442
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$422,783
Other Expenses$252,915
Grants and Similar Amounts Paid$9,636
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$86,123$136,423-$222,546
Other Salaries and Wages-$166,618-$166,618
Occupancy-$69,862-$69,862
Depreciation Depletion-$43,194-$43,194
Other Employee Benefits-$33,619-$33,619
Other Expenses$35,205$25,624-$25,624
Office Expenses-$24,429-$24,429
Fees for Services Other-$17,911-$17,911
Information Technology-$12,453-$12,453
Insurance-$12,232-$12,232
Foreign Grants$8,665--$8,665
Advertising-$5,411-$5,411
Conferences and Meetings-$4,405-$4,405
Fees for Services Accounting-$2,189-$2,189
Grants to Domestic Orgs$971--$971
Total Functional Expenses$130,964$554,370$0$685,334
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Held$3,230
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
7076440919
Signed
2021-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Hoffert
Formed
2005
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
2
Employees
17
Volunteers
50

Preparer

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

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,911,257
Liabilities
$1,248,663
Net assets
$662,594
Revenue
$644,892
Expenses
$685,334
Net income
-$40,442
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