Nonprofit · EIN 16-1199439
WATERTOWN LOCAL DEVELOPMENT CORPORATION
Tax-exempt · WATERTOWN, NY 13601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $455,834 | $322,453 | $133,381 | $10,581,345 | $267,095 | $10,314,250 |
| December 31, 2024 | 990 | $747,698 | $347,124 | $400,574 | $10,247,172 | $273,696 | $9,973,476 |
| December 31, 2023 | 990 | $759,545 | $1,060,489 | -$300,944 | $9,714,987 | $285,822 | $9,429,165 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $263,283
- Investment income
- $121,783
- Net gain from sales of assets
- -$12,911
- Other revenue
- $70,768
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $153,359
- Salaries, compensation and benefits (total)
- $215,281
- Professional fundraising fees
- $0
- Legal fees
- $737
- Accounting fees
- $16,589
- Occupancy
- $23,082
- Travel
- $6,185
- Depreciation
- $1,126
- Program services (functional)
- $211,467
- Management and general (functional)
- $110,986
Balance sheet and other
- Total assets, start of year
- $10,247,172
- Total assets, end of year
- $10,581,345
- Total liabilities, end of year
- $267,095
- Net assets, end of year
- $10,314,250
- Land, buildings and equipment
- $6,959
- Publicly traded securities
- $2,776,427
- Net assets without donor restrictions
- $10,314,250
- Gross receipts
- $3,214,639
- Employees
- 2
- Volunteers
- 0
- Year formed
- 1981
- State of legal domicile
- NY
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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KYLEE MCGRATH | CEO Officer | 40 | $91,303 | $8,888 |
| JOY NUFFER | CFO Officer | 40 | $66,351 | $30,304 |
| SARAH COMPO PIERCE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL PIERCE | TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MARSHALL WEIR | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CHRISTINA GRIMSHAW | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAWN COLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEPHEN HUNT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL LUMBIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DON RUTHERFORD | CEO (FORMER) Officer | 40 | $62,273 | $21,613 |
| KYLEE MCGRATH | CEO Officer | 40 | $71,907 | $10,810 |
| JOY NUFFER | CFO Officer | 40 | $36,123 | $22,903 |
| SARAH COMPO PIERCE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL PIERCE | TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MARSHALL WEIR | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CHRISTINA GRIMSHAW | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAWN COLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEPHEN HUNT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL LUMBIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DON RUTHERFORD | CEO Officer | 40 | $103,336 | $59,102 |
| KYLEE MCGRATH | CFO Officer | 40 | $52,379 | $12,928 |
| JEFFREY SMITH | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL PIERCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVE ZEMBIEC | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CHARLES CAPONE | TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| DAWN COLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEPHEN HUNT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL LUMBIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 259 JB WISE PLACE SUITE 100, WATERTOWN, NY 13601-2587
- Principal officer (990 for 2025)
- KYLEE MCGRATH, 259 JB WISE PLACE SUITE 100, WATERTOWN, NY 13601
- Signed the 990
- KYLEE MCGRATH, CEO
- Phone
- (315) 786-3494
- Website
- WWW.WATERTOWNLDC.COM
- Return prepared by
- BOWERS ADVISORS LLC
Mission
THE ORGANIZATION'S MISSION IS TO FOSTER AN ENVIRONMENT OF COOPERATION BETWEEN THE CITY GOVERNMENT, ECONOMIC DEVELOPMENT AGENCIES AND THE PRIVATE SECTOR WITH THE GOAL OF PROMOTING ECONOMIC EXPANSION AND PROSPERITY IN THE CITY OF WATERTOWN. MOREOVER, THE ORGANIZATION USES FINANCIAL RESOURCES TO LEVERAGE OTHER INVESTMENTS, WITH THE GOAL OF JOB CREATION, RETENTION AND ELIMINATION OF BLIGHT.
Program accomplishments
- LOCAL DEVELOPMENT PROGRAM TO RELIEVE AND REDUCE UNEMPLOYMENT, PROMOTE ADDITIONAL EMPLOYMENT OPPORTUNITIES, AND INSTRUCT AND TRAIN INDIVIDUALS THROUGH LOANS/GRANTS TO AREA BUSINESSES.Expenses $211,467 · revenue $334,051
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 16-1199439
- 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
- 1984
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $10,581,345
- Income (IRS master file)
- $3,214,639
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $455,834 | $322,453 | $10,581,345 | XML |
| 990 | December 2024 | $747,698 | $347,124 | $10,247,172 | XML |
| 990 | December 2023 | $759,545 | $1,060,489 | $9,714,987 | XML |
| 990 | December 2022 | $388,647 | $544,652 | $9,579,121 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 16-1199439).
Questions about WATERTOWN LOCAL DEVELOPMENT CORPORATION
- What is the EIN of WATERTOWN LOCAL DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of WATERTOWN LOCAL DEVELOPMENT CORPORATION is 16-1199439.
- Is WATERTOWN LOCAL DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to WATERTOWN LOCAL DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WATERTOWN LOCAL 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 WATERTOWN LOCAL DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WATERTOWN LOCAL DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WATERTOWN LOCAL DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names KYLEE MCGRATH.
- Who are the officers and directors of WATERTOWN LOCAL DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 9 people; 2 received compensation from the organization, the highest $91,303 (KYLEE MCGRATH, CEO).
- How much revenue does WATERTOWN LOCAL DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $455,834, expenses of $322,453 and total assets of $10,581,345 at year end.
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All nonprofits in WATERTOWN · New York · Community improvement and capacity building