DOWNTOWN BUSINESS DEVELOPMENT CORP… - Form 990 Financial Data

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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

2023

Legal Domicile

Principal Officer

NICK GERVERA

Phone

3157552721

Tax Period

2023-01-01 to 2023-12-31

DOWNTOWN BUSINESS DEVELOPMENT CORPORATION OF WATERTOWN, founded in 2023, is a small nonprofit in the Community Improvement sector that reported $177K in total revenue in fiscal year 2023. The organization ran a surplus of $171K, a strong 96% operating margin.

Mission

THE ORGANIZATION WAS CREATED TO PROMOTE DOWNTOWN WATERTOWN AND TRY TO LURE BUSINESS OWNERS TO LOCATE IN THE AREA OF DOWNTOWN WATERTOWN NY.

Program Service Accomplishments

Program 1

Expenses: $6,062 Revenue: $181,363

PROMOTE AND LURE BUSINESSES TO THE DOWNTOWN AREA OF WATERTOWN NY

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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 $0

Program Service Revenue $6,363

Investment Income $170,663

Other Revenue $0

TOTAL REVENUE $177,026

Expense Breakdown

Grants Paid $450

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,062

Other Expenses $6,033

TOTAL EXPENSES $6,483

Year-over-Year Comparison

	2023	2022	Change
Revenue	$177,026	N/A	N/A
Expenses	$6,483	N/A	N/A
Net Income	$170,543	N/A	N/A

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL LOCH	TREASURER	1.00	Officer Director	$0	$0	$0
VONNETTE MONTEITH	SECRETARY	1.00	Officer Director	$0	$0	$0
JILL VANHOESEN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JOSEPH WESSNER	PRESIDENT	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
2024	No data	No data	No data	No data
2023	$177,026	$6,483	$172,399	$170,543

DOWNTOWN BUSINESS DEVELOPMENT CORPORATION OF WATERTOWN