DOWNTOWN BUSINESS DEVELOPMENT CORPORATION OF WATERTOWN

EIN: 881142488 501(c)(3) Community Improvement

WATERTOWN, NY

Total Revenue
$177,026
Total Expenses
$6,483
Total Assets
$172,399
Net Assets
$172,399
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
NY
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.

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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 $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

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
20

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
4
$0
Key Employees
0
$0
Highest Compensated
0
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
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