Civic Intelligence

Watershed Charlotte Inc.

990 • Fiscal year 2021 • EIN 36-4571824

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2022

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

90th percentile

0.60x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

1.46x

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

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Net Margin

44th percentile

12%

Higher net margin than 44% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

81st percentile

$81,611

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 10.9% of source-year revenue.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Asset Growth

12th percentile

-4.2%

Faster asset growth than 12% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

47th percentile

16%

Faster revenue growth than 47% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$1,830,749

Down $80,508 (-4.2%) from 2020

Net Assets

Up

$733,980

Up $71,386 (+11%) from 2020

Liabilities

Down

$1,096,769

Down $151,894 (-12%) from 2020

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin44th percentile

Revenue

Up

$749,539

Up $104,647 (+16%) from 2020

Expenses

Down

$661,268

Down $24,066 (-3.5%) from 2020

Net Income

Up

$88,271

Up $128,713 (+318%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2021

Assets$1,830,749
Liabilities$1,096,769
Net Assets$733,980
Open 2021 Filing

Operations Trend

Revenue Growth47th 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

2021

Revenue$749,539
Expenses$661,268
Net Income$88,271
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2022
Return Version
2021v4.2
Gross Receipts
$749,539
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$1,647,110$1,634,133▼ $12,977
Savings and Temporary Cash Investments$192,850$153,717▼ $39,133
Cash and Non-Interest-Bearing Accounts$71,297$42,899▼ $28,398
Total Assets$1,911,257$1,830,749▼ $80,508
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,147,968$1,085,741▼ $62,227
Unsecured Notes Loans Payable$72,855--
Accounts Payable and Accrued Expenses$24,610$9,243▼ $15,367
Other Liabilities$3,230$1,785▼ $1,445
Total Liabilities$1,248,663$1,096,769▼ $151,894
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$662,594$733,980▲ $71,386
Total Net Assets Fund Balance$662,594$733,980▲ $71,386
Total Liabilities and Net Assets / Fund Balance$1,911,257$1,830,749▼ $80,508

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,481,596$169,324$1,650,920
Land$126,000-$126,000
Equipment$16,775$6,351$23,126
Other Land Buildings$9,762--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Matthew OneilCo-pastorFT$81,611$81,611
Scott HoffertCo-pastorFT$81,611$81,611
Samantha CordialiniSecretarytreasurerFT$27,331$27,331
Desmond SmithElderPT$19,167$19,167

Board Members and Trustees

NameTitle
Rich RoblesElder
Shawn Bowers BuxtonElder
Revenue and Support

Revenue Composition

Contributions and Grants
$665,697
Program Service Revenue
$0
Investment Income
$15
Other Revenue
$83,827
All Other Contributions
$592,842
Change in Net Assets
$88,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$414,621
Other Expenses$220,320
Grants and Similar Amounts Paid$26,327
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$81,611$131,665-$213,276
Other Salaries and Wages-$167,378-$167,378
Occupancy-$54,029-$54,029
Depreciation Depletion-$48,376-$48,376
Other Employee Benefits-$33,967-$33,967
Office Expenses-$29,049-$29,049
Other Expenses$36,471$17,376-$17,376
Grants to Domestic Orgs$16,127--$16,127
Insurance-$12,713-$12,713
Fees for Services Accounting-$10,433-$10,433
Foreign Grants$10,200--$10,200
Information Technology-$5,481-$5,481
Conferences and Meetings-$3,967-$3,967
Advertising-$2,425-$2,425
Total Functional Expenses$144,409$516,859$0$661,268
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Charlotte RiseCharlotte, NC501c3Housing Stability$13,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Held$1,785
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 Hoffert
Title
Co-pastor
Phone
7046440919
Signed
2022-11-10
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
11
Volunteers
75

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: general generosity - watershed charlotte provides small gifts to various groups and individuals throughout the year. This can include groceries purchased, gift cards, or other small items for people experiencing illness, financial difficulty, or loss.”

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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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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0126000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09762
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt09762
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS HELD
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01634133
IRS990ScheduleD/TotalLiabilityAmt01785
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt013000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0HOUSING STABILITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GREATER CHARLOTTE RISE
IRS990ScheduleI/RecipientTable/RecipientEIN0821806316
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 562274
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Charlotte
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd028256
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: GENERAL GENEROSITY - WATERSHED CHARLOTTE PROVIDES SMALL GIFTS TO VARIOUS GROUPS AND INDIVIDUALS THROUGHOUT THE YEAR. THIS CAN INCLUDE GROCERIES PURCHASED, GIFT CARDS, OR OTHER SMALL ITEMS FOR PEOPLE EXPERIENCING ILLNESS, FINANCIAL DIFFICULTY, OR LOSS.
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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01911257
IRS990/TotalAssetsEOYAmt01830749
IRS990/TotalAssetsGrp/BOYAmt01911257
IRS990/TotalAssetsGrp/EOYAmt01830749
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0665697
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0516859
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0144409
IRS990/TotalFunctionalExpensesGrp/TotalAmt0661268
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01248663
IRS990/TotalLiabilitiesEOYAmt01096769
IRS990/TotalLiabilitiesGrp/BOYAmt01248663
IRS990/TotalLiabilitiesGrp/EOYAmt01096769
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0662594
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0733980
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt03127
IRS990/TotalProgramServiceExpensesAmt0144409
IRS990/TotalReportableCompFromOrgAmt0209720
IRS990/TotalRevenueGrp/ExclusionAmt083842
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0749539
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt075
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01911257
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01830749
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt072855
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.watershedcharlotte.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT HOFFERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-PASTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07046440919
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-10
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/PreparationDt02022-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA WISE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-11-16T09:01:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SCOTT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HOFFERT
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,830,749
Liabilities
$1,096,769
Net assets
$733,980
Revenue
$749,539
Expenses
$661,268
Net income
$88,271
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