Nonprofit · EIN 06-1549006
WATERBURY DEVELOPMENT CORPORATION
Tax-exempt · WATERBURY, CT 06702
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $4,665,443 | $4,792,526 | -$127,083 | $8,356,685 | $7,466,417 | $890,268 |
| June 30, 2024 | 990 | $3,325,742 | $3,523,046 | -$197,304 | $8,089,974 | $7,072,623 | $1,017,351 |
| June 30, 2023 | 990 | $3,731,866 | $3,808,209 | -$76,343 | $8,144,248 | $6,929,593 | $1,214,655 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,856,870
- of which government grants
- $3,856,870
- Program service revenue
- $420,665
- Investment income
- $168,734
- Net rental income
- $219,174
- Other revenue
- $219,174
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $269,552
- Other salaries and wages
- $1,123,975
- Salaries, compensation and benefits (total)
- $1,690,057
- Professional fundraising fees
- $0
- Legal fees
- $13,105
- Accounting fees
- $25,151
- Occupancy
- $339,847
- Depreciation
- $14,076
- Program services (functional)
- $4,547,232
- Management and general (functional)
- $245,294
Balance sheet and other
- Total assets, start of year
- $8,089,974
- Total assets, end of year
- $8,356,685
- Total liabilities, end of year
- $7,466,417
- Net assets, end of year
- $890,268
- Land, buildings and equipment
- $35,541
- Net assets without donor restrictions
- $890,268
- Gross receipts
- $4,665,443
- Employees
- 16
- Volunteers
- 20
- Year formed
- 2004
- State of legal domicile
- CT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RONALD CASSELLA | VP OF OPERATIONS Highest-paid employee | 37.5 | $181,076 |
| THOMAS HYDE | FORMER EXECUTIVE DIRECTOR Officer | 37.5 | $179,163 |
| THOMAS FAVAZZO | PROJECT MANAGER Highest-paid employee | 37.5 | $122,497 |
| JAMES NEALON | CFO Officer | 37.5 | $90,389 |
| CATHERINE AWWAD | CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| LYNN G WARD | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| WILLIAM RYBCZYK | TREASURER Trustee or director, Officer | 0.5 | $0 |
| JOSEPH R MCGRATH | VICE- CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| JOSEPH DORSO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| SUSAN SPRANO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MICHAEL DIGIOVANCARLO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| WILLIAM PALOMBA | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MARY M ROSENGRANT-CHIAPPALONE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| ROBERT BURNS DIRECTOR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| STEPHEN A DOHONEY | BOARD MEMBER Trustee or director | 0.5 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ARTHUR DENZE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DOMENIC GIGLIO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| RUBEN RODRIGUEZ | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JACK TRAVER JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| KENNETH COOK | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DAVID LEPORE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MATT BYRNE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GEORGE TIRADO JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| CARMEN ROMEO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JAMES NARDOZZI | EXECUTIVE DIRECTOR Officer | 37.5 | $0 |
990 for the year ended June 30, 2024: 25 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RONALD CASSELLA | VP OF OPERATIONS Highest-paid employee | 37.5 | $170,899 |
| THOMAS FAVAZZO | PROJECT MANAGER Highest-paid employee | 37.5 | $115,209 |
| JAMES NEALON | CFO Officer | 37.5 | $87,482 |
| CATHERINE AWWAD | CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| JOSEPH R MCGRATH | VICE CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| WILLIAM RYBCZYK | TREASURER Trustee or director, Officer | 0.5 | $0 |
| LYNN G WARD | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| ROBERT BURNS | BOARD MEMBER Trustee or director | 0.5 | $0 |
| ARTHUR DENZE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JOSEPH DORSO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DOMENIC GIGLIO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MATT BYRNE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JACK TRAVER JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MICHAEL CERVELLINO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MARY ROSENGRANT-CHIAPPALONE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| KENNETH COOK | BOARD MEMBER Trustee or director | 0.5 | $0 |
| STEPHEN A DOHONEY | BOARD MEMBER Trustee or director | 0.5 | $0 |
| WILLIAM PALOMBA | BOARD MEMBER Trustee or director | 0.5 | $0 |
| SUSAN SPRANO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GEORGE TIARDO JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| RUBEN RODRIGUEZ | BOARD MEMBER Trustee or director | 0.5 | $0 |
| CARMEN ROMEO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DAVID LEPORE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MICHAEL DIGIOVANCARLO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| THOMAS HYDE | EXECUTIVE DIRECTOR Officer | 37.5 | $0 |
990 for the year ended June 30, 2023: 22 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RONALD CASSELLA | VP OF OPERATIONS Highest-paid employee | 37.5 | $144,696 |
| THOMAS FAVAZZO | PROJECT MANAGER Highest-paid employee | 37.5 | $111,842 |
| JAMES NEALON | CFO Officer | 37.5 | $71,873 |
| CATHERINE AWWAD | CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| JOSEPH R MCGRATH | VICE CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| WILLIAM RYBCZYK | TREASURER Trustee or director, Officer | 0.5 | $0 |
| LYNN G WARD | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| ROBERT BURNS | BOARD MEMBER Trustee or director | 0.5 | $0 |
| ARTHUR DENZE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JOSEPH DORSO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DOMENIC GIGLIO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MATT BYRNE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| PAUL K PERNEREWSKI JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JACK TRAVER JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MICHAEL CERVELLINO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| MARY ROSENGRANT-CHIAPPALONE | BOARD MEMBER Trustee or director | 0.5 | $0 |
| WILLIAM PIZZUTO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| KENNETH COOK | BOARD MEMBER Trustee or director | 0.5 | $0 |
| STEPHEN A DOHONEY | BOARD MEMBER Trustee or director | 0.5 | $0 |
| WILLIAM PALOMBA | BOARD MEMBER Trustee or director | 0.5 | $0 |
| SUSAN SPRANO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GEORGE TIARDO JR | BOARD MEMBER Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 83 BANK STREET 3RD FL, WATERBURY, CT 06702-2232
- Principal officer (990 for 2024)
- CATHERINE AWWAD, 83 BANK STREET 3RD FL, WATERBURY, CT 06702
- Signed the 990
- CATHERINE AWWAD, CHAIRMAN
- Phone
- (203) 346-2607
- Website
- HTTP://WDCONLINE.ORG
- Return prepared by
- ZACKIN ZIMYESKI SULLIVAN CPA LLC
Mission
TO STIMULATE AND SUPPORT ECONOMIC AND HOUSING DEVELOPMENT WITHIN THE COMMUNITIES OF THE CITY OF WATERBURY.
Program accomplishments
- TO STIMULATE AND SUPPORT ECONOMIC AND HOUSING DEVELOPMENT WITHIN THE COMMUNITIES OF THE CITY OF WATERBURY.Expenses $4,547,232 · revenue $639,839
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 06-1549006
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $8,356,685
- Income (IRS master file)
- $4,665,443
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $4,665,443 | $4,792,526 | $8,356,685 | XML |
| 990 | June 2024 | $3,325,742 | $3,523,046 | $8,089,974 | XML |
| 990 | June 2023 | $3,731,866 | $3,808,209 | $8,144,248 | XML |
| 990 | June 2022 | $2,421,027 | $2,694,678 | $8,604,069 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-1549006).
Questions about WATERBURY DEVELOPMENT CORPORATION
- What is the EIN of WATERBURY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of WATERBURY DEVELOPMENT CORPORATION is 06-1549006.
- Is WATERBURY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to WATERBURY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WATERBURY DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WATERBURY DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WATERBURY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of WATERBURY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names CATHERINE AWWAD.
- Who are the officers and directors of WATERBURY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 25 people; 4 received compensation from the organization, the highest $181,076 (RONALD CASSELLA, VP OF OPERATIONS).
- How much revenue does WATERBURY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $4,665,443, expenses of $4,792,526 and total assets of $8,356,685 at year end.
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All nonprofits in WATERBURY · Connecticut · Community improvement and capacity building