Waterbury Main Street Inc
Waterbury Main Street Inc. operates with fluctuating revenues and expenses, maintaining a lean leadership structure with no reported officer compensation.
EIN: 10817355 · Waterbury, CT · NTEE: B90 · Updated: 2026-03-27
Is Waterbury Main Street Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Waterbury Main Street Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Waterbury Main Street Inc
Waterbury Main Street Inc (EIN: 10817355) is a nonprofit organization based in Waterbury, CT, classified under NTEE code B90. The organization reported total revenue of $228K and total assets of $61K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waterbury Main Street Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Waterbury Main Street Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $121K |
| Total Expenses | $96K |
| Surplus / Deficit | +$25K |
| Total Assets | $61K |
| Total Liabilities | $19K |
| Net Assets | $42K |
| Operating Margin | 20.8% |
| Debt-to-Asset Ratio | 31.3% |
| Months of Reserves | 7.6 months |
Financial Health Grade: A
In 2024, Waterbury Main Street Inc reported a surplus of $25K with revenue exceeding expenses, holds 7.6 months of operating reserves (strong position), has a debt-to-asset ratio of 31.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Waterbury Main Street Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +29.6% | +10.8% | -35.6% |
| 2023 | +4.4% | -12.7% | +45.1% |
| 2022 | -7.1% | -16.4% | +229.7% |
| 2021 | -21.3% | -6.3% | -59.0% |
| 2020 | +3.5% | -3.6% | -6.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Waterbury Main Street Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Waterbury Main Street Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $25K, with revenue exceeding expenses.
- Debt-to-asset ratio: 31.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is a strong positive for resource allocation given its modest revenue of $121,334 in the latest period.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Waterbury Main Street Inc's IRS 990 filings:
- Inconsistent operating surpluses/deficits over the years, indicating potential budgeting challenges (e.g., 202206 expenses exceeded revenue by $9,674).
- Significant fluctuations in liabilities, reaching $77,765 in 202306, which could indicate periods of financial strain.
Strengths
The following positive indicators were identified for Waterbury Main Street Inc:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds and potentially strong volunteer engagement.
- Long operational history with 13 IRS 990 filings, demonstrating sustained commitment to its mission.
- Recent improvement in financial health, with a surplus of $25,220 in 202406 and a significant reduction in liabilities from the previous year.
Frequently Asked Questions about Waterbury Main Street Inc
Is Waterbury Main Street Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Waterbury Main Street Inc (EIN: 10817355) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Waterbury Main Street Inc spend its money?
Waterbury Main Street Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Waterbury Main Street Inc tax-deductible?
Waterbury Main Street Inc is registered as a tax-exempt nonprofit (EIN: 10817355). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Waterbury Main Street Inc. financially stable?
Waterbury Main Street Inc. shows moderate financial stability. While it has experienced periods of operating deficits (e.g., 202206, 202106), it also demonstrates surpluses (e.g., 202406, 202306) and has reduced its liabilities from $77,765 in 202306 to $18,992 in 202406, suggesting an improving financial position.
How does Waterbury Main Street Inc. manage its leadership costs?
The organization manages its leadership costs very efficiently, reporting 0% officer compensation in all available filings. This suggests a volunteer-driven leadership or that compensation is handled through other means not categorized as officer pay, allowing more funds to be directed to its mission.
What is the trend in Waterbury Main Street Inc.'s assets and liabilities?
Assets have fluctuated, from a high of $97,749 in 201606 to a low of $19,702 in 202106, currently at $60,674 (202406). Liabilities have also varied significantly, peaking at $77,765 in 202306 and decreasing to $18,992 in 202406, indicating recent efforts to reduce debt.
Filing History
IRS 990 filing history for Waterbury Main Street Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Waterbury Main Street Inc's revenue has declined by 1.8%, moving from $123K to $121K. Total assets decreased by 38.5% over the same period, from $99K to $61K. Total functional expenses fell by 32.7%, from $143K to $96K. In its most recent filing year (2024), Waterbury Main Street Inc reported a surplus of $25K, with revenue exceeding expenses. The organization holds $19K in liabilities against $61K in assets (debt-to-asset ratio: 31.3%), resulting in net assets of $42K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $121K | $96K | $61K | $19K | — | — |
| 2023 | $94K | $87K | $94K | $78K | — | View 990 |
| 2022 | $90K | $99K | $65K | $55K | — | View 990 |
| 2021 | $97K | $119K | $20K | $449 | — | View 990 |
| 2020 | $123K | $127K | $48K | $7K | — | View 990 |
| 2019 | $119K | $132K | $51K | $5K | — | View 990 |
| 2018 | $119K | $129K | $91K | $32K | — | View 990 |
| 2017 | $121K | $149K | $71K | $3K | — | View 990 |
| 2016 | $150K | $140K | $98K | $2K | — | View 990 |
| 2015 | $114K | $143K | $81K | $2K | — | View 990 |
| 2014 | $146K | $145K | $108K | $924 | — | View 990 |
| 2013 | $147K | $139K | $106K | $0 | — | View 990 |
| 2012 | $123K | $143K | $99K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $121K, expenses of $96K, and assets of $61K (revenue +29.6% year-over-year).
- 2023: Revenue of $94K, expenses of $87K, and assets of $94K (revenue +4.4% year-over-year).
- 2022: Revenue of $90K, expenses of $99K, and assets of $65K (revenue -7.1% year-over-year).
- 2021: Revenue of $97K, expenses of $119K, and assets of $20K (revenue -21.3% year-over-year).
- 2020: Revenue of $123K, expenses of $127K, and assets of $48K (revenue +3.5% year-over-year).
- 2019: Revenue of $119K, expenses of $132K, and assets of $51K (revenue -0.3% year-over-year).
- 2018: Revenue of $119K, expenses of $129K, and assets of $91K (revenue -2.1% year-over-year).
- 2017: Revenue of $121K, expenses of $149K, and assets of $71K (revenue -19.2% year-over-year).
- 2016: Revenue of $150K, expenses of $140K, and assets of $98K (revenue +31.9% year-over-year).
- 2015: Revenue of $114K, expenses of $143K, and assets of $81K (revenue -22.2% year-over-year).
- 2014: Revenue of $146K, expenses of $145K, and assets of $108K (revenue -0.4% year-over-year).
- 2013: Revenue of $147K, expenses of $139K, and assets of $106K (revenue +18.9% year-over-year).
- 2012: Revenue of $123K, expenses of $143K, and assets of $99K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Waterbury Main Street Inc:
Data Sources and Methodology
This transparency report for Waterbury Main Street Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.