Watershed Charlotte Inc
- Assets
- $1.8m
- Revenue
- $749.5k
- Investments
- $0.0
- Employees
- 11
- Location
- Charlotte, NC
- Founding
- 05/2018
- Data as of
- 12/2021
- EIN
- 36-4571824
Organization Overview
Watershed Charlotte Inc is located in Charlotte, NC. The organization was established in 2018. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Watershed Charlotte Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watershed Charlotte Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Watershed Charlotte Inc generated $749.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $661.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORSHIP FURTHERS WATERSHED CHARLOTTES MISSION OF CREATING A PLACE THAT EVOKES DEEP THOUGHT, REFLECTION, AND CONNECTION TO GOD. WORSHIP HAPPENS DURING SUNDAY GATHERINGS, WHERE THERE IS LIVE MUSIC, INTERACTIVE WORSHIP, AND THOUGHT-PROVOKING CONVERSATION WHICH CREATES AN ENVIRONMENT FOR PEOPLE TO ENCOUNTER GOD.
WATERSHED CHARLOTTE PARTNERED WITH GREATER CHARLOTTE RISE, A LOCAL NONPROFIT BY DONATING TO THEIR CAUSE, SECURING DIGNITY AND PERMANENT HOUSING SOLUTIONS FOR HOUSING INSECURE NEIGHBORS.
$10,200 TO THANGLAL, WATERSHED CHARLOTTES NATIONAL MISSIONARY IN INDIA. FOCUSED EXCLUSIVELY ON HELPING DISENFRANCHISED MUSLIM COMMUNITY IN INDIA, BY PROVIDING FOOD AND AFTER SCHOOL PROGRAMS.
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Oneil Co-Pastor | OfficerTrustee | 40 | $81,611 |
Scott Hoffert Co-Pastor | OfficerTrustee | 40 | $81,611 |
Samantha Cordialini Secretarytreasurer | Officer | 40 | $27,331 |
Desmond Smith Elder | Trustee | 12 | $19,167 |
Rich Robles Elder | Trustee | 2 | $0 |
Shawn Bowers Buxton Elder | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $72,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $592,842 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $665,697 |
| Total Program Service Revenue | $0 |
| Investment income | $15 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,420 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $749,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,127 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,200 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $213,276 |
| Compensation of current officers, directors, key employees. | $131,665 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,378 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,967 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,433 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,425 |
| Office expenses | $29,049 |
| Information technology | $5,481 |
| Royalties | $0 |
| Occupancy | $54,029 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,967 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,376 |
| Insurance | $12,713 |
| All other expenses | $0 |
| Total functional expenses | $661,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,899 |
| Savings and temporary cash investments | $153,717 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,634,133 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,830,749 |
| Accounts payable and accrued expenses | $9,243 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,085,741 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,785 |
| Total liabilities | $1,096,769 |
| Net assets without donor restrictions | $733,980 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,830,749 |
Grants Awarded
Over the last fiscal year, Watershed Charlotte Inc has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Pensacola, FL PURPOSE: EDUCATION AND TEACHER SALARIES | $5,000 |
Charlotte, NC PURPOSE: SUPPORT FOR FOSTER FAMILIES | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Watershed Charlotte Inc has recieved totaling $20,999.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,375 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $4,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,400 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,400 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $600 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Operation Compassion A Tennessee Non-Profit Corporation Cleveland, TN | $18,764,537 | $70,147,882 |
United Faith Ministries Inc Norfolk, VA | $10,805,826 | $50,029,760 |
Martha Obryan Center Inc Nashville, TN | $41,203,339 | $31,115,116 |
Ravi Zacharias International Ministries Norcross, GA | $12,439,416 | $25,742,588 |
Inspiritus Inc Atlanta, GA | $4,563,820 | $17,981,504 |
Rescue Missions Ministries Inc Durham, NC | $22,198,926 | $18,805,895 |
Lifeshape Inc Atlanta, GA | $41,056,311 | $15,846,732 |
Haggai International Institute For Advanced Leadership Training Inc Peachtree Corners, GA | $41,354,774 | $16,620,781 |
Elam Ministries Inc Alpharetta, GA | $5,679,728 | $12,042,641 |
Advancing Native Missions Afton, VA | $4,333,922 | $11,124,622 |
National Pro-Life Alliance Springfield, VA | $3,799,169 | $8,934,186 |
Wellspring Living Inc Atlanta, GA | $3,565,992 | $9,107,143 |