WATERTOWN FOUNDATION INC

EIN: 066064660 501(c)(3) Philanthropy & Grantmaking

WATERTOWN, CT

Total Revenue
$817,844
Total Expenses
$230,222
Total Assets
$5,579,129
Net Assets
$5,579,129
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1925
Legal Domicile
CT
Principal Officer
PAUL JESSELL
Phone
8602742511
Tax Period
2023-09-01 to 2024-08-31

WATERTOWN FOUNDATION INC, founded in 1925, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $818K in total revenue in fiscal year 2023. Revenue surged 72% from the prior year, signaling strong growth momentum. The organization ran a surplus of $588K, a strong 72% operating margin.

Mission

TO PROVIDE COMMUNITY SUPPORT GRANTS TO LOCAL EXEMPT ORGANIZATIONS FOR CAPITAL ITEMS AND INDIVIDUAL SCHOLARSHIPS TO LOCAL STUDENTS FOR HIGHER EDUCATION EXPENSES.

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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 $683,367
Program Service Revenue $0
Investment Income $134,477
Other Revenue $0
TOTAL REVENUE $817,844

Expense Breakdown

Grants Paid $182,076
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $230,222
Other Expenses $48,146
TOTAL EXPENSES $230,222

Year-over-Year Comparison

2023 2022 Change
Revenue $817,844 $474,165 +0.7%
Expenses $230,222 $218,576 +0.1%
Net Income $587,622 $255,589 +1.3%
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
15
Independent Members
15
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
4
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARCIA KILLEEN PRESIDENT N/A
Officer Director
$0 $0 $0
TED HEAVENRICH VICE PRESIDE N/A
Officer Director
$0 $0 $0
PAULA LABONTE SECRETARY N/A
Officer Director
$0 $0 $0
PAUL JESSELL TREASURER N/A
Officer Director
$0 $0 $0
TINA AGATI TRUSTEE N/A
Director
$0 $0 $0
JUSTIN GOLDEN TRUSTEE N/A
Director
$0 $0 $0
WILLIAM DUNBAR TRUSTEE N/A
Director
$0 $0 $0
WILLIAM PALOMBA TRUSTEE N/A
Director
$0 $0 $0
MARGARET LONG MCKEE TRUSTEE N/A
Director
$0 $0 $0
LINDA MERRIMAN TRUSTEE N/A
Director
$0 $0 $0
JOE CALIGIURI TRUSTEE N/A
Director
$0 $0 $0
SUSAN ATKINS TRUSTEE N/A
Director
$0 $0 $0
DOUGLAS D'ANDREA TRUSTEE N/A
Director
$0 $0 $0
MARGRET WARNER TRUSTEE N/A
Director
$0 $0 $0
SUSAN SANTOPIETRO TRUSTEE N/A
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 $817,844 $230,222 $5,579,129 $587,622
2023 $474,165 $218,576 $4,464,142 $255,589
2022 $411,693 $206,282 $4,138,902 $205,411
2021 $244,766 $187,038 $4,871,202 $57,728
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