Naugatuck Valley Project Inc

Analysis

Naugatuck Valley Project Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in February 1988, 38 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 August 2023, Naugatuck Valley Project Inc reported income of $498k and spending of $334k, leaving 33% of income unspent that year. Across the 2 years on record, from August 2022 to August 2023, income grew from $154k to $498k (+223%), an average of +223% a year. The sharpest change came in the year to August 2023, when income rose by 223%. Over the whole period it spent 73% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Naugatuck Valley Project Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include Macomb County Community Dispute Resolution Center Inc ($498k), Wisdom of the Elderberry Farm ($498k) and Downtownabq Mainstreet Initiative ($498k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $72k. At year end it held assets of $204k against liabilities of $975, net assets of $203k. It reported 5 employees.