Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1970.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
15 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $153K paid to officers and key staff.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2022 | FY2021 |
|---|---|---|
| Thomas Hyde | $153,070 | $117,566 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promotes economic development and civic redevelopment in Waterbury, Naugatuck, and surrounding communities.
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To advance the interests of the city of waterbury, borough of naugatuck and surrounding communities.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $59K | $47K |
| InvestmentsLn 11–13 | $859K | $690K |
| Land, buildings, equipmentLn 10c | $719K | $794K |
| Total assetsLn 16 | $1.8M | $1.9M |
| LiabilitiesLn 26 | $65K | $323K |
| Net assetsLn 32 | $1.8M | $1.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $155K | $0 | $155K | $0 |
| Other salaries and wagesLn 7 | $1K | $0 | $1K | $0 |
| Other employee benefitsLn 9 | $8K | $0 | $8K | $0 |
| Payroll taxesLn 10 | $11K | $0 | $11K | $0 |
| Legal feesLn 11b | $295 | $0 | $295 | $0 |
| Accounting feesLn 11c | $12K | $0 | $12K | $0 |
| Investment management feesLn 11f | $13K | $0 | $13K | $0 |
| Information technologyLn 14 | $2K | $0 | $2K | $0 |
| Conferences, conventions and meetingsLn 19 | $2K | $0 | $2K | $0 |
| InterestLn 20 | $92 | $0 | $92 | $0 |
| Depreciation, depletion and amortizationLn 22 | $39K | $38K | $909 | $0 |
| InsuranceLn 23 | $9K | $0 | $9K | $0 |
| Other expenses (24a–d)Ln 24 | $4K | $0 | $4K | $0 |
| Total functional expensesLn 25 | $257K | $38K | $218K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $323K | $131K | $192K | $2.0M | 990 PDF |
| FY2024 | Not on file | ||||
| FY2023 | Not on file | ||||
| FY2022 Viewing | $195K | $257K | −$62K | $1.5M | 990 PDF |
| FY2021 | $34K | $217K | −$183K | $1.8M | 990 PDF |
| FY2020 | −$21K | $90K | −$111K | $1.8M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $194,925 across 7 lines filed
Part IX · Statement of functional expenses $256,899 across 13 lines filed
Part X · Balance sheet $1,851,197 assets, 13 lines filed
Part XI · Reconciliation of net assets $1,527,816 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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