Waterbury Opportunities Industrialization Inc
- Assets
- $1.1m
- Revenue
- $92.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Waterbury, CT
- Founding
- 08/1974
- Data as of
- 12/2022
- EIN
- 06-0911610
Organization Overview
Waterbury Opportunities Industrialization Inc is located in Waterbury, CT. The organization was established in 1974. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 12/2022, Waterbury Opportunities Industrialization Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterbury Opportunities Industrialization Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Waterbury Opportunities Industrialization Inc generated $92.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $123.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROGRAMS TO INCREASE EMPLOYMENT OPPORTUNITIES FOR THE UNEMPLOYED, UNDEREMPLOYED, AND ECONOMICALLY DISADVANTAGED INCLUDING RECRUITING, SKILLS ASSESSMENT, COUNSELING AND OCCUPATIONAL TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS TO INCREASE EMPLOYMENT OPPORTUNITIES FOR THE UNEMPLOYED, UNDEREMPLOYED, AND ECONOMICALLY DISADVANTAGED INCLUDING RECRUITING, SKILLS ASSESSMENT, COUNSELING ADN OCCUPATIONAL TRAINING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terryl Mitchell-Smith Chairman | OfficerTrustee | $0 | |
Michael Devivo Vice Chair | OfficerTrustee | $0 | |
Sonny Holmes Treasurer | OfficerTrustee | $0 | |
Dawn Lewis Secretary | OfficerTrustee | $0 | |
George Gomes Director | Trustee | $0 | |
Adriene Parkmond Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,688 |
| Total Program Service Revenue | $7,562 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,250 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,996 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,912 |
| Payroll taxes | $7,538 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,206 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,821 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,886 |
| Insurance | $11,834 |
| All other expenses | $291 |
| Total functional expenses | $123,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,997 |
| Savings and temporary cash investments | $3,950 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $484 |
| Net Land, buildings, and equipment | $1,097,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $1,120,195 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,204 |
| Total liabilities | $39,704 |
| Net assets without donor restrictions | $1,080,491 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,120,195 |