Revitalizing Waterbury Inc

Nonprofit profile at a glance

EIN
030330084
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Waterbury, VT, USA
Phone
8022445108
Rating
61
Verdict
SUPPORTED
Rating confidence
Standard

Reported finances

Revenue
$288,651
Expenses
$375,936
Assets
$1,448,305
Liabilities
$385,460

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • MATT LARSON (VICE PRESIDENT)
  • LINDSAY SULLIVAN (PRESIDENT)
  • ROGER CLAPP (EXECUTIVE DIRECTOR)
  • KAREN NEVIN (FORMER EXECUTIVE DIRECTOR)

Highest reported compensation

  • OWEN SETTE-DUCATI (ECONOMIC DEVELOPMENT DIRECTOR): $47,850 total reported compensation
  • KAREN NEVIN (FORMER EXECUTIVE DIRECTOR): $45,184 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Downtown waterbury development

What it reported doing in 2024

Donations to various local organizations in waterbury, Vermont. 2024 support included the waterbury area food shelf, the waterbury rotary, waterbury ambulance service, and others.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 92% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 69
  • Accountability: 63
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.1%; rating input score 55
  • Program expense ratio: 42.1%; rating input score 42
  • Fundraising efficiency: $104.18 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -30.2%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 3.85; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 24.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 55.1% of revenue deployed · 42.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $158K in reported program spending
  • Leadership: top reported pay $48K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 42/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.