Overview
What is Waterbury Development Corporation?
Waterbury Development Corporation, located at 83 Bank Street 3rd FL, Waterbury, CT 06702, serves as a vital catalyst for economic and housing development within the city of Waterbury. Their primary goal is to stimulate and support growth in these sectors within their community. Their long-term planning for economic development involves strategic strategies to foster a thriving environment. With 13 dedicated employees, Waterbury Development Corporation is committed to contributing positively to the city's socio-economic landscape.
Official website here: www.wdconline.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating from Charity Navigator.
The Waterbury Development Corporation has received a commendable 81% rating, reflecting strong performance in Accountability & Finance. The scoring is heavily weighted towards financial accountability, indicating the organization maintains high standards in managing its resources. With an independent board composed entirely of 19 members and no material diversions of assets, the organization demonstrates a commitment to transparency and governance.
Strengths highlighted include a perfect score for financial audits and a solid program expense ratio of 95.64%, suggesting that a significant majority of its funding directly supports its programs. The presence of established policies, such as conflict of interest and whistleblower policies, further reinforces its commitment to ethical practices and accountability.
While the organization excels in various areas, the score indicates room for improvement in other beacons that might assess programmatic impact or community engagement. Overall, the Waterbury Development Corporation stands out for its financial integrity and governance structure, making it a reliable choice for potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Waterbury Development Corporation legitimate?
Waterbury Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waterbury Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $782,479
For more financial information, click here
Official website here: www.wdconline.org
What is the mission statement of Waterbury Development Corporation?
The Waterbury Development Corporation's mission is centered around stimulating and supporting economic and housing development within various communities. Their primary objective is to foster growth and improvement in these areas, contributing to the overall development of the communities they serve.
Official website here: www.wdconline.org
Who is the CEO of Waterbury Development Corporation?
Catherine Awwad is the Chairman of Waterbury Development Corporation.
Official website here: www.wdconline.org
What is the revenue of Waterbury Development Corporation?
Waterbury Development Corporation's revenue in 2022 was $2,421,027.
Official website here: www.wdconline.org
Who are the executives of Waterbury Development Corporation and what are their salaries?
The average compensation at Waterbury Development Corporation during 2022 was $60,191. There are 13 employees and 16 volunteers at Waterbury Development Corporation.
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- Compensation: $55,354
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Official website here: www.wdconline.org
Where can I find the form 990 for Waterbury Development Corporation?
Waterbury Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wdconline.org
Learn more at the official website: www.wdconline.org
Mission Statement of Waterbury Development Corporation
Waterbury Development Corporation, a nonprofit organization, is dedicated to driving and fostering economic and housing development within its communities. Its core mission is to stimulate growth and provide support in these areas, aiming to improve the overall well-being of the communities it serves. By focusing on economic and housing development, the corporation aims to contribute positively to the local economy and living standards, ultimately enhancing the quality of life for its community members.
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Impact
July, 2024
Waterbury Development Corporation plays a significant role in stimulating and supporting economic and housing development within the communities of the city of Waterbury. Through its long-range planning initiatives, the organization seeks to enhance the economic landscape of the city, promote community improvement, and create opportunities for growth and prosperity. Its impact can be seen in the revitalization of neighborhoods, the creation of job opportunities, and the overall enhancement of the quality of life for residents in Waterbury.
This information is meant to be a general summary of Waterbury Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,244
- Program Service Revenue: $95,007
- Gross Receipts: $2,421,027
Assets and Liabilities:
- Total Assets: $8,604,069
- Total Liabilities: $7,313,068
- Net Assets: $1,291,001
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$62,635
WATERBURY PROMISE
Revenue
$32,372
Organization Details
Founding Year
2004
Phone
(203) 346-2607Principal Officer
Catherine Awwad
Main Address
83 BANK STREET 3RD FL, WATERBURY, CT, 06702
Website
www.wdconline.orgNTEE Category
Code: S30 - Community improvement
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