EIN 16-1199439

Watertown Local Development Corporation

Name: Watertown Local Development Corporation financials for 2023
Creator: Cause IQ
License: https://creativecommons.org/licenses/by-nc-nd/4.0/

IRS 501(c) type

501(c)(3)

Num. employees

City

Watertown

State

New York

Year formed

1981

Most recent tax filings

2023-12-01

NTEE code, primary

S31: Urban, Community Economic Development

Description

Watertown Local Development Corporation fosters cooperation between the city government, economic development agencies, and the private sector to promote economic expansion and prosperity in Watertown. The organization operates a local development program that provides loans and grants to area businesses for the purpose of relieving and reducing unemployment, promoting employment opportunities, and instructing and training individuals.

Total revenues

$759,545

2023

Total expenses

$1,060,489

2023

Total assets

$9,714,987

2023

Num. employees

2023

Program areas at Watertown Local Development Corporation

Local Development program to relieve and reduce unemployment, promote additional employment opportunities, and instruct and train individuals through loans/grants to area businesses.

Grants made by Watertown Local Development Corporation

Grantee	Grant description	Grant year	Amount
Thompson Park Conservancy	To Provide Assitance for Business Activity.	2023-12	$40,000

Personnel at Watertown Local Development Corporation

Name	Title	Compensation	Date of data
Donald Rutherford	Chief Executive Officer		2024-04-29
Kylee McGrath	Chief Financial Officer	$52,379	2023-12-31
Don Rutherford	Past Chief Executive Officer	$103,336	2023-12-31
Dave Zembiec	Vice President	$0	2023-12-31
Jeffrey Smith	President	$0	2023-12-31
...and 5 more key personnel

Financials for Watertown Local Development Corporation

Revenues	FYE 12/2023	FYE 12/2022	% Change
Total grants, contributions, etc.	$379,290	$47,945	691.1%
Program services	$222,538	$189,579	17.4%
Investment income and dividends	$96,522	$97,507	-1%
Tax-exempt bond proceeds	$0	$0	-
Royalty revenue	$0	$0	-
Net rental income	$0	$0	-
Net gain from sale of non-inventory assets	$14,977	$-12,018	224.6%
Net income from fundraising events	$0	$0	-
Net income from gaming activities	$0	$0	-
Net income from sales of inventory	$0	$0	-
Miscellaneous revenues	$46,218	$65,634	-29.6%
Total revenues	$759,545	$388,647	95.4%

Form 990s for Watertown Local Development Corporation

Fiscal year ending	Date received by IRS	Form	PDF link
2023-12	2024-04-29	990	View PDF
2022-12	2023-05-08	990	View PDF
2021-12	2022-05-09	990	View PDF
2020-12	2021-05-21	990	View PDF
2019-12	2021-01-21	990	View PDF
...and 10 more Form 990s

Organizations like Watertown Local Development Corporation

Organization	Type	Location	Revenue
District 2 Community Enhancement Corporation	501(c)(3)	New Orleans, LA	$299,563
Camden Special Services District	501(c)(3)	Camden, NJ	$3,232,160
Uptown Reinvestment Corporation	501(c)(3)	Flint, MI	$3,251,972
North Central Massachusetts Development Corporation	501(c)(3)	Fitchburg, MA	$1,614,235
Special Improvement District Borough of Red Bank Inc Red Bank RiverCenter	501(c)(3)	Red Bank, NJ	$1,051,896
Local Development Corp of East New York	501(c)(3)	Brooklyn, NY	$783,742
Community Reuse Organization of East Tennessee (CROET)	501(c)(3)	Oak Ridge, TN	$519,165
Pyramid Community Development Corporation	501(c)(3)	Columbus, OH	$296,402
Rainier Valley Community Development Fund	501(c)(3)	Seattle, WA	$1,551,417
Philadelphia Chinatown Development Corporation (PCDC)	501(c)(3)	Philadelphia, PA	$2,537,285

Data update history

July 19, 2024

Posted financials

Added Form 990 for fiscal year 2023

November 25, 2023

Posted financials

Added Form 990 for fiscal year 2021

July 8, 2023

Posted financials

Added Form 990 for fiscal year 2022

June 30, 2023

Updated personnel

Identified 1 new personnel

September 2, 2022

Updated personnel

Identified 7 new personnel

Nonprofit Types

Public sector nonprofitsBusiness and community development organizationsCharities

Issues

Community improvementEconomic development

Characteristics

State / local levelReceives government fundingTax deductible donationsAccepts online donations

General information

Address: 259 JB Wise Pl 100; Watertown, NY 13601
Metro area: Watertown-Fort Drum, NY
County: Jefferson County, NY
Website URL: watertownldc.com/
Phone: (315) 786-3494

IRS details

EIN: 16-1199439
Fiscal year end: December
Taxreturn type: Form 990
Year formed: 1981
Eligible to receive tax-deductible contributions (Pub 78): Yes

Categorization

NTEE code, primary: S31: Urban, Community Economic Development
NAICS code, primary: 926110: Economic Development Corporations and Economic Program Organizations
Parent/child status: Independent

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Watertown Local Development Corporation

Program areas at Watertown Local Development Corporation

Grants made by Watertown Local Development Corporation

Personnel at Watertown Local Development Corporation

Financials for Watertown Local Development Corporation

Form 990s for Watertown Local Development Corporation

Organizations like Watertown Local Development Corporation

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