Watershed Charlotte Inc

Analysis

Watershed Charlotte Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Watershed Charlotte Inc reported income of $711k and spending of $735k, spending 103% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $674k to $711k (+5.5%), an average of +1.1% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Watershed Charlotte Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include World Missions Alliance ($710k), Believes Ministries ($712k) and Vessels of Mercy International Inc ($710k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $143k (19% of expenses). Other salaries and wages came to $292k. At year end it held assets of $1.7m against liabilities of $988k, net assets of $711k. It reported 10 employees.