WATERBURY OPPORTUNITES INDUSTRIALIZATION CENTER

EIN: 060911610 501(c)(3) Employment

WATERBURY, CT

Total Revenue
$149,256
Total Expenses
$156,118
Total Assets
$1,110,343
Net Assets
$1,073,629
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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
1974
Legal Domicile
CT
Principal Officer
REGINALD BEAMON
Phone
2037567987
Tax Period
2023-01-01 to 2023-12-31

WATERBURY OPPORTUNITES INDUSTRIALIZATION CENTER, founded in 1974, is a small nonprofit in the Employment sector that reported $149K in total revenue in fiscal year 2023. Revenue surged 62% from the prior year, signaling strong growth momentum. Net assets of $1.1M represent 86 months of operating reserves.

Mission

PROGRAMS TO INCREASE EMPLOYMENT OPPORTUNITIES FOR THE UNEMPLOYED, UNDEREMPLOYED, AND ECONOMICALLY DISADVANTAGED INCLUDING RECRUITING, SKILLS ASSESSMENT, COUNSELING AND OCCUPATIONAL TRAINING.

Program Service Accomplishments

Program 1
Expenses: $135,537 Revenue: $117,055

PROGRAMS TO INCREASE EMPLOYEMENY OPPORTUNITIES FOR THE UNEMPLOYED, UNDEREMPLOYED, AND ECONOMICALLY DISADVANTAGED INCLUDING RECRUITING, SKILLS ASSESSMENT, COUNSELING AND OCCUPATIONAL TRAINING.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $115,093
Program Service Revenue $33,962
Investment Income $1
Other Revenue $200
TOTAL REVENUE $149,256

Expense Breakdown

Grants Paid $0
Salaries & Benefits $41,075
Fundraising Expenses $0
Program Expenses $135,537
Other Expenses $115,043
TOTAL EXPENSES $156,118

Year-over-Year Comparison

2023 2022 Change
Revenue $149,256 $92,250 +0.6%
Expenses $156,118 $123,719 +0.3%
Net Income $-6,862 $-31,469 -0.8%
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

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Governance

Voting Members
11
Independent Members
11
Employees
2
Volunteers
N/A

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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE DEVIVO VICE CHAIR 1.00
Officer Director
$0 $0 $0
ADRIENNE PARKMOND ESQ DIRECTOR 1.00
Director
$0 $0 $0
AVERY GADDIS DIRECTOR 1.00
Director
$0 $0 $0
GEORGE GOMES DIRECTOR 1.00
Director
$0 $0 $0
HONOREE GOODSON DIRECTOR 1.00
Director
$0 $0 $0
SONNY HOLMES TREASURER 1.00
Officer Director
$0 $0 $0
DAWN LEWIS SECRETARY 1.00
Officer Director
$0 $0 $0
RANDALL LEWIS DIRECTOR 1.00
Director
$0 $0 $0
LEROY PERRY DIRECTOR 1.00
Director
$0 $0 $0
TERRY MITCHELL SMITH CHAIR 1.00
Officer 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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $149,256 $156,118 $1,110,343 $-6,862
2022 $92,250 $123,719 $1,120,195 $-31,469
2021 $106,227 $144,584 $1,151,664 $-38,357
2020 $134,920 $179,168 $1,192,021 $-44,248
2019 $97,948 $164,062 $1,236,270 $-66,114
2018 $146,357 $167,567 $1,301,382 $-21,210
2018 $146,357 $167,567 $1,301,380 $-21,210
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