Overview
What is Watertown Local Development Corporation?
Watertown Local Development Corporation is a nonprofit organization situated in Watertown, New York, specifically at 82 Public Square. Its primary mission is to foster collaboration between the city government, economic development agencies, and the private sector, with the aim of promoting economic expansion and prosperity within Watertown. To achieve this goal, the corporation utilizes financial resources to leverage other investments, with a focus on creating, retaining, and eliminating blight, thereby generating employment opportunities. The organization operates as a local development program, aiming to alleviate and reduce unemployment, while also promoting additional employment opportunities. Through loans and grants, it supports area businesses, contributing to the overall economic growth and vitality of Watertown. The corporation currently employs a team of two individuals.
Official website here: www.watertownldc.com
Is Watertown Local Development Corporation legitimate?
Watertown Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertown Local 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:
Executive Compensation: $155,138
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.watertownldc.com
What is the mission statement of Watertown Local Development Corporation?
The Watertown Local Development Corporation's mission is centered around fostering cooperation between the city government, economic development agencies, and the private sector. This collaboration aims to promote economic expansion and prosperity within the city. The organization also utilizes its financial resources to leverage other investments, with the primary objectives of creating, retaining, and eliminating blight, ultimately leading to job creation and retention.
Official website here: www.watertownldc.com
Who is the CEO of Watertown Local Development Corporation?
Donald Rutherford is the President of Watertown Local Development Corporation. The CEO's salary of Watertown Local Development Corporation is $99,940 and their total compensation is $154,601.
Official website here: www.watertownldc.com
What is the revenue of Watertown Local Development Corporation?
Watertown Local Development Corporation's revenue in 2022 was $388,647.
Official website here: www.watertownldc.com
Who are the executives of Watertown Local Development Corporation and what are their salaries?
The average compensation at Watertown Local Development Corporation during 2022 was $77,569. There are 2 employees at Watertown Local Development Corporation.
Here are 9 key members and their salaries (Watertown Local Development Corporation's CEO's salary is $99,940 and their total compensation is $154,601):
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- Compensation: $99,940
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- Other: $54,661
- Compensation: $50,200
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- Other: $12,549
Official website here: www.watertownldc.com
Where can I find the form 990 for Watertown Local Development Corporation?
Watertown Local Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.watertownldc.com
Learn more at the official website: www.watertownldc.com
Mission Statement of Watertown Local Development Corporation
Watertown Local Development Corporation, in its mission, works towards fostering a cooperative environment between the city government, economic development agencies, and the private sector. This cooperation aims to promote economic expansion and prosperity within the city of Watertown. The organization leverages its financial resources to attract additional investments, with the ultimate goals of creating, retaining, and eliminating blight. By doing so, Watertown Local Development Corporation contributes to job creation and retention within the city, thereby driving its overall economic growth.
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Impact
October, 2024
The Watertown Local Development Corporation significantly contributes to the economic vitality of Watertown, NY, by fostering collaboration among city government, economic development agencies, and the private sector. This coordinated effort is aimed at promoting economic expansion and prosperity within the city.
Through the strategic use of financial resources, the organization effectively leverages additional investments, driving job creation and retention while also addressing issues of urban blight. By implementing local development programs, it actively works to alleviate unemployment and enhance employment opportunities, which are critical for the community's growth.
Moreover, the organization plays a vital role in providing loans and grants to area businesses, which not only supports existing enterprises but also encourages the establishment of new ones. By instructing and training individuals, it helps to build a skilled workforce that meets the needs of local industries. Overall, the Watertown Local Development Corporation's impact is evident in its commitment to community improvement and economic enrichment, creating a more prosperous environment for all residents.
This information is meant to be a general summary of Watertown Local 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: $85,489
- Program Service Revenue: $189,579
- Gross Receipts: $1,610,693
Assets and Liabilities:
- Total Assets: $9,579,121
- Total Liabilities: $0
- Net Assets: $9,579,121
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$189,579
Organization Details
Founding Year
1981
Phone
(315) 786-3494Principal Officer
Donald Rutherford
Main Address
THE BUCK BLDG - 82 PUBLIC SQUARE, WATERTOWN, NY, 13601
Website
www.watertownldc.comNTEE Category
Code: S31Z - Community improvement
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