Civic Intelligence

Watershed Charlotte Inc.

990 • Fiscal year 2023 • EIN 36-4571824

Jan 01, 2023 to Dec 31, 2023 • Filed on May 15, 2024

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

0.58x

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

2023 filings • NTEE X20 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

1.39x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • NTEE X20 • $1M-$5M nonprofits • Source year 2023

Net Margin

21st percentile

-3.3%

Higher net margin than 21% of similar nonprofits.

2023 filings • NTEE X20 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

87th percentile

$106,831

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2023 filings • NTEE X20 • $1M-$5M nonprofits • Source year 2023

Asset Growth

22nd percentile

-3.9%

Faster asset growth than 22% of similar nonprofits.

2023 filings • NTEE X20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

5.7%

Faster revenue growth than 42% of similar nonprofits.

2023 filings • NTEE X20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$1,698,660

Down $69,422 (-3.9%) from 2022

Net Assets

Down

$710,999

Down $26,507 (-3.6%) from 2022

Liabilities

Down

$987,661

Down $42,915 (-4.2%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin21st percentile

Revenue

Up

$710,927

Up $38,044 (+5.7%) from 2022

Expenses

Up

$734,517

Up $49,616 (+7.2%) from 2022

Net Income

Down

-$23,590

Down $11,572 (-96%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2023

Assets$1,698,660
Liabilities$987,661
Net Assets$710,999
Open 2023 Filing

Operations Trend

Revenue Growth42nd 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

2023

Revenue$710,927
Expenses$734,517
Net Income-$23,590
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.0
Gross Receipts
$710,927
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$1,586,014$1,523,616▼ $62,398
Savings and Temporary Cash Investments$145,320$131,887▼ $13,433
Cash and Non-Interest-Bearing Accounts$36,748$43,157▲ $6,409
Total Assets$1,768,082$1,698,660▼ $69,422
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,022,347$957,614▼ $64,733
Accounts Payable and Accrued Expenses$3,249$26,064▲ $22,815
Other Liabilities$4,980$3,983▼ $997
Total Liabilities$1,030,576$987,661▼ $42,915
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$736,483$703,304▼ $33,179
Net Assets With Donor Restrictions$1,023$7,695▲ $6,672
Total Net Assets Fund Balance$737,506$710,999▼ $26,507
Total Liabilities and Net Assets / Fund Balance$1,768,082$1,698,660▼ $69,422

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,354,603$296,317$1,650,920
Land$126,000-$126,000
Equipment$20,900$35,308$56,208
Leasehold Improvements$12,351$489$12,840
Other Land Buildings$9,762--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Matthew OneilLead PastorFT$106,831$106,831
Samantha CordialiniSecretarytreasurerPT$45,030$45,030
Scott HoffertCo-pastorPT$19,050$19,050
Desmond SmithLead TeamPT$16,775$16,775

Board Members and Trustees

NameTitle
Elizabeth WatsonLead Team
Michael GrayLead Team
Oliver ManalacLead Team
Revenue and Support

Revenue Composition

Contributions and Grants
$597,920
Program Service Revenue
$0
Investment Income
$1
Other Revenue
$113,006
All Other Contributions
$597,920
Change in Net Assets
$-23,590
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$445,533
Other Expenses$265,734
Grants and Similar Amounts Paid$23,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$292,186-$292,186
Current Officers, Directors, Trustees, and Key Employees$70,190$72,466-$142,656
Depreciation Depletion-$60,781-$60,781
Occupancy-$55,075-$55,075
Other Expenses$43,835$34,908-$34,908
Insurance-$18,096-$18,096
Grants to Domestic Orgs$16,594--$16,594
Conferences and Meetings-$14,904-$14,904
Office Expenses-$12,864-$12,864
Information Technology-$11,069-$11,069
Other Employee Benefits-$10,691-$10,691
Fees for Services Accounting-$7,650-$7,650
Foreign Grants$6,656--$6,656
Fees for Services Other-$5,460-$5,460
Advertising-$1,092-$1,092
Total Functional Expenses$137,275$597,242$0$734,517
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
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$3,983
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Matt Oneil
Title
Lead Pastor
Phone
7042990557
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Oneil
Formed
2005
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
3
Employees
10
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: grant to thanglal, watershed charlottes national missionary in india. Focused exclusively on helping disenfranchised muslim community in india, by providing food, housing, and after school programs.”

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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/EquipmentGrp/BookValueAmt020900
IRS990ScheduleD/EquipmentGrp/DepreciationAmt035308
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt012351
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0489
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt012840
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09762
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt09762
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03983
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS HELD
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01523616
IRS990ScheduleD/TotalLiabilityAmt03983
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignIndividualsGrantsGrp/CashGrantAmt04200
IRS990ScheduleF/ForeignIndividualsGrantsGrp/MannerOfCashDisbursementTxt0BANK WIRE
IRS990ScheduleF/ForeignIndividualsGrantsGrp/RecipientCnt01
IRS990ScheduleF/ForeignIndividualsGrantsGrp/RegionTxt0South Asia
IRS990ScheduleF/ForeignIndividualsGrantsGrp/TypeOfAssistanceTxt0THANGLAL MISSIONARY
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/TransferToForeignCorpInd0false
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: GRANT TO THANGLAL, WATERSHED CHARLOTTES NATIONAL MISSIONARY IN INDIA. FOCUSED EXCLUSIVELY ON HELPING DISENFRANCHISED MUSLIM COMMUNITY IN INDIA, BY PROVIDING FOOD, HOUSING, AND AFTER SCHOOL PROGRAMS.
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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01698660
IRS990/TotalAssetsGrp/BOYAmt01768082
IRS990/TotalAssetsGrp/EOYAmt01698660
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IRS990/TotalContributionsAmt0597920
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0597242
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0137275
IRS990/TotalFunctionalExpensesGrp/TotalAmt0734517
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01030576
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IRS990/TotalLiabilitiesGrp/EOYAmt0987661
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0710999
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IRS990/TotalOtherProgSrvcGrantAmt04200
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IRS990/TotalReportableCompFromOrgAmt0187686
IRS990/TotalRevenueGrp/ExclusionAmt01
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0113006
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0710927
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt075
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01698660
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.watershedcharlotte.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATT ONEIL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0LEAD PASTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07042990557
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
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/IRSResponsiblePrtyInfoCurrInd0true
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/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA WISE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-05-15T14:13:52-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MATT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ONEIL
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,698,660
Liabilities
$987,661
Net assets
$710,999
Revenue
$710,927
Expenses
$734,517
Net income
-$23,590
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