Watertown Industrial Center Local Development Corporation

Analysis

Watertown Industrial Center Local Development Corporation is a registered charity in United States, based in Watertown, NY. It received its IRS tax-exemption ruling in February 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, 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 June 2023, Watertown Industrial Center Local Development Corporation reported income of $689k and spending of $637k, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $628k to $689k (+9.7%), an average of +3.1% a year. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Watertown Industrial Center Local Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Stoddard County Sheltered Workshop ($689k), Arizona Regional Economic Development Foundation ($690k) and Amherst Community Connections ($688k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $121k. At year end it held assets of $2.5m against liabilities of $431k, net assets of $2.1m. It reported 2 employees.