WATERSHED CHARLOTTE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

MATTHEW ONEIL

Tax Period

2023-01-01 to 2023-12-31

WATERSHED CHARLOTTE, founded in 2005, is a small nonprofit in the Religion sector that reported $711K in total revenue in fiscal year 2023.

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.

Program Service Accomplishments

Program 1

Expenses: $116,481

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...

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.

Program 2

Expenses: $10,800

WATERSHED CHARLOTTE PARTNERED WITH TOMMY ALLGOOD, WHO DOES WORK WITHIN OUR LOCAL COMMUNITY AND ABROAD AS A SPIRITUAL HEALER AND CARE DIRECTOR. WATERSHED ALSO PARTNERED WITH SACRED SOULS: BISHOP...

WATERSHED CHARLOTTE PARTNERED WITH TOMMY ALLGOOD, WHO DOES WORK WITHIN OUR LOCAL COMMUNITY AND ABROAD AS A SPIRITUAL HEALER AND CARE DIRECTOR. WATERSHED ALSO PARTNERED WITH SACRED SOULS: BISHOP TONYIA RAWLS WHO LEADS ANOTHER CHURCH IN CHARLOTTE TO HELP SUPPORT THEIR EFFORTS. WATERSHED ALSO PARTNERED WITH LAUNCHPAD, A NON-PROFIT THAT ASSISTS WITH CHURCH PLANTING AND COACHING NEW PASTORS. ALL THREE ORGANIZATIONS WERE GIFTED EQUAL AMOUNTS.

Program 3

Expenses: $5,794

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...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $597,920

Program Service Revenue $0

Investment Income $1

Other Revenue $113,006

TOTAL REVENUE $710,927

Expense Breakdown

Grants Paid $23,250

Salaries & Benefits $445,533

Fundraising Expenses $0

Program Expenses $137,275

Other Expenses $265,734

TOTAL EXPENSES $734,517

Year-over-Year Comparison

	2023	2022	Change
Revenue	$710,927	$672,883	+0.1%
Expenses	$734,517	$684,901	+0.1%
Net Income	$-23,590	$-12,018	+1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$170,911

Total Directors

$142,656

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW ONEIL	LEAD PASTOR	40.00	Officer Director Highest	$106,831	$0	$106,831
SAMANTHA CORDIALINI	SECRETARYTREASURER	30.00	Officer	$45,030	$0	$45,030
SCOTT HOFFERT	CO-PASTOR	10.00	Officer Director	$19,050	$0	$19,050
DESMOND SMITH	LEAD TEAM	12.00	Director	$16,775	$0	$16,775
ELIZABETH WATSON	LEAD TEAM	2.00	Director	$0	$0	$0
OLIVER MANALAC	LEAD TEAM	2.00	Director	$0	$0	$0
MICHAEL GRAY	LEAD TEAM	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$710,927	$734,517	$1,698,660	$-23,590
2022	$672,883	$684,901	$1,768,082	$-12,018
2021	$749,539	$661,268	$1,830,749	$88,271
2020	$644,892	$685,334	$1,911,257	$-40,442
2019	$632,959	$624,031	$1,871,327	$8,928
2018	$674,137	$726,904	$1,903,720	$-52,767