WATERTOWN INDUSTRIAL CENTER LOCAL DEVELOPMENT CORPORATION (EIN 161463095) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

MICHELLE CAPONE

Phone

3157829277

Tax Period

2024-07-01 to 2025-06-30

WATERTOWN INDUSTRIAL CENTER LOCAL DEVELOPMENT CORPORATION, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $960K in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $306K, a strong 32% operating margin.

Mission

THE MISSION OF THE WATERTOWN INDUSTRIAL CENTER LOCAL DEVELOPMENT CORPORATION IS TO FACILITATE JOB CREATION AND RETENTION IN THE COMMUNITY BY PROVIDING ELIGIBLE BUSINESSES WITH SUITABLE LEASED FACILITIES AT RENTS AND UNDER CONDITIONS THAT HELP THEM SUCCEED.

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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 (2024)

Revenue Breakdown

Contributions & Grants $265,252

Program Service Revenue $532,229

Investment Income $0

Other Revenue $162,809

TOTAL REVENUE $960,290

Expense Breakdown

Grants Paid $0

Salaries & Benefits $167,979

Fundraising Expenses $0

Program Expenses $570,512

Other Expenses $486,519

TOTAL EXPENSES $654,498

Year-over-Year Comparison

	2024	2023	Change
Revenue	$960,290	$625,211	+0.5%
Expenses	$654,498	$637,728	+0.0%
Net Income	$305,792	$-12,517	-25.4%

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

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

$96,901

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE CAPONE	PRESIDENT	2.00	Officer Director	$0	$0	$0
J PAUL MORGAN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MARK BELLINGER	TREASURER	2.00	Officer Director	$0	$0	$0
ROBERT CANTWELL III	SECRETARY	2.00	Officer Director	$0	$0	$0
DONALD RUTHERFORD	MEMBER	2.00	Director	$0	$0	$0
PAUL WARNECK	MEMBER	2.00	Director	$0	$0	$0
KYLEE MCGRATH	MEMBER	2.00	Director	$0	$0	$0
BILLY SOLURI	DIRECTOR OF SITE FACILITIE	35.00	Officer	$88,953	$7,948	$96,901

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	$960,290	$654,498	$2,543,165	$305,792
2024	$625,211	$637,728	$2,377,879	$-12,517
2023	$689,035	$636,589	$2,480,774	$52,446
2022	$689,579	$592,464	$2,665,450	$97,115
2021	$639,139	$588,667	$2,845,456	$50,472
2020	$628,161	$602,953	$3,026,072	$25,208
2019	$606,655	$618,372	$3,165,649	$-11,717

WATERTOWN INDUSTRIAL CENTER LOCAL DEVELOPMENT CORPORATION