Waterbury Opportunities Industrialization Inc

Analysis

Waterbury Opportunities Industrialization Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in August 1974, 52 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Waterbury Opportunities Industrialization Inc reported income of $92k and spending of $124k, spending 134% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $98k to $92k (-5.8%), an average of -2.0% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 142% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Waterbury Opportunities Industrialization Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within CT. Charities of a similar size with the same main cause include Pasadena-Altadena Ivy Foundation ($92k), Clear Lake Area Development Corporation ($92k) and Marshall Area Community Services Inc ($92k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 73% and program service revenue 8.2% of the total. Other salaries and wages came to $19k. At year end it held assets of $1.1m against liabilities of $40k, net assets of $1.1m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.