REVITALIZING WATERBURY INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Principal Officer

THERESA WOOD

Phone

8022445108

Tax Period

2023-01-01 to 2023-12-31

REVITALIZING WATERBURY INC, founded in 1991, is a small nonprofit in the Recreation & Sports sector that reported $338K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $318K left a modest 6% surplus.

Mission

DOWNTOWN WATERBURY DEVELOPMENT

Program Service Accomplishments

Program 1

Expenses: $62,492 Revenue: $24,600

RESTORATION OF THE HISTORIC WATERBURY RAILROAD STATION. EXPENSES INCLUDE INSURANCE, TAXES, MAINTENANCE & INTEREST ON MORTGAGES.

Program 2

Expenses: $112,300 Revenue: $0

PRESERVE AND ENHANCE THE ECONOMIC, HISTORIC, AND SOCIAL VITALITY OF DOWNTOWN WATERBURY AS A "DESIGNATED DOWNTOWN" THROUGH SPECIAL EVENTS AND PROGRAMS.

Program 3

Expenses: $1,900 Revenue: $0

DONATIONS TO VARIOUS LOCAL ORGANIZATIONS IN WATERBURY, VERMONT. 2022 SUPPORT INCLUDED THE WATERBURY AREA FOOD SHELF, THE WATERBURY ROTARY, WATERBURY AMBULANCE SERVICE, AND OTHERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $374,556

Program Service Revenue $0

Investment Income $1,669

Other Revenue $-37,892

TOTAL REVENUE $338,333

Expense Breakdown

Grants Paid $1,900

Salaries & Benefits $149,914

Fundraising Expenses $13,145

Program Expenses $176,692

Other Expenses $166,347

TOTAL EXPENSES $318,161

Year-over-Year Comparison

	2023	2022	Change
Revenue	$338,333	$470,167	-0.3%
Expenses	$318,161	$314,704	+0.0%
Net Income	$20,172	$155,463	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$95,015

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN NEVIN	EXEC DIRECTOR	30.00	Director Highest	$62,255	$0	$62,255
DAVE LUCE	TREASURER	3.00	Officer	$0	$0	$0
KRISTER ADAMS	DIRECTOR	2.00	Director	$0	$0	$0
CAROLYN FOX	DIRECTOR	2.00	Director	$0	$0	$0
JULIE FRAILEY	PRESIDENT	2.00	Director	$0	$0	$0
MATT LARSON	VICE PRESIDENT	2.00	Officer	$0	$0	$0
OTHO THOMPSON	SECRETARY	2.00	Officer	$0	$0	$0
SCOTT WEIGAND	DIRECTOR	2.00	Director	$0	$0	$0
MARK POMILIO JR	ECONOMIC DEVELOPMENT DIRECTOR	30.00	Director	$32,760	$0	$32,760
COLIN POMER	DIRECTOR	2.00	Director	$0	$0	$0
LINDSAY SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$338,333	$318,161	$1,224,180	$20,172
2022	$470,167	$314,704	$1,232,115	$155,463
2021	$235,688	$249,128	$1,157,516	$-13,440
2020	$238,740	$236,216	$1,147,843	$2,524