THE CHAMBER OF COMMERCE FOUNDATION OF GREATER WATERBURY CT INC

EIN: 061074917 501(c)(3) Community Improvement

WATERBURY, CT

Total Revenue
$1,005,901
Total Expenses
$1,000,442
Total Assets
$744,918
Net Assets
$10,026
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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
1987
Legal Domicile
CT
Principal Officer
LYNN WARD
Phone
2037570701
Tax Period
2024-04-01 to 2025-03-31

THE CHAMBER OF COMMERCE FOUNDATION OF GREATER WATERBURY CT INC, founded in 1987, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 168% from the prior year, signaling strong growth momentum.

Mission

RECEIVE AND ADMINISTER FUNDS FOR SEVERAL ORGANIZATIONS ALL WORKING TO IMPROVE THE WATERBURY BUSINESS COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $997,647 Revenue: $207,430

RECEIVE AND ADMINISTER FUNDS FOR SEVERAL ORGANIZATIONS ALL WORKING TO IMPROVE THE WATERBURY BUSINESS COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $798,471
Program Service Revenue $199,176
Investment Income $8,254
Other Revenue $0
TOTAL REVENUE $1,005,901

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $997,647
Other Expenses $1,000,442
TOTAL EXPENSES $1,000,442

Year-over-Year Comparison

2024 2023 Change
Revenue $1,005,901 $375,567 +1.7%
Expenses $1,000,442 $377,975 +1.6%
Net Income $5,459 $-2,408 -3.3%
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
10
Employees
N/A
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
11
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JASON VAN STONE OFFICER 1.00
Officer Director
$0 $0 $0
WILLIAM J PALOMBA FIRST VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
CHET DOHENY OFFICER 1.00
Officer Director
$0 $0 $0
MARY CHIAPPALONE CHAIRWOMAN 1.00
Officer Director
$0 $0 $0
DONALD MCPARTLAND IMMEDIATE PAST CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOHN L HOPKINS OFFICER 1.00
Officer Director
$0 $0 $0
GARY O'CONNOR SECRETARY 1.00
Officer Director
$0 $0 $0
LYNN WARD PRESIDENT 1.00
Officer Director
$0 $0 $0
TIMOTHY D BERGSTROM TREASURER 1.00
Officer Director
$0 $0 $0
JACK E TRAVER JR OFFICER 1.00
Officer Director
$0 $0 $0
SELIM NOUJAIM OFFICER 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 $1,005,901 $1,000,442 $744,918 $5,459
2024 $375,567 $377,975 $266,774 $-2,408
2023 $328,178 $286,555 $209,167 $41,623
2022 $264,874 $262,593 $188,034 $2,281
2021 $178,945 $180,020 $432,305 $-1,075
2020 $318,352 $320,998 $165,385 $-2,646
2020 $318,352 $320,998 $165,385 $-2,646
2019 $292,704 $294,426 $192,599 $-1,722
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