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Nonprofiteer
← NAUGATUCK VALLEY DEVELOPMENT CORP

Form 990 for tax year 2024

Filed by NAUGATUCK VALLEY DEVELOPMENT CORP.

Totals

Total revenue
$322,660
Total expenses
$130,856
Contributions and grants received
$125,000
Grants paid
$0
Program service revenue
$0
Investment income
$113,388
Other revenue
$84,272
Total assets, end of year
$2,725,121
Total liabilities, end of year
$741,218
Net assets or fund balances, end of year
$1,983,903
Program services expenses (Part IX)
$51,366
Management and general expenses
$79,490
Fundraising expenses
$0
Program service expenses (Part III)
$51,366

Program services were 39.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $125,000

  • 3 · Investment income

    total $27,811 · related or exempt $9,356 · excluded $18,455

  • 6a · Gross rents

    real property $254,621

  • 6b · Less rental expenses

    real property $170,421

  • 6c · Rental income or loss

    real property $84,200

  • 6d · Net rental income or loss

    total $84,200 · related or exempt $84,200

  • 7a · Gross sales of assets other than inventory

    securities $261,468

  • 7b · Less cost or other basis and sales expenses

    securities $175,891

  • 7c · Gain or loss

    securities $85,577

  • 7d · Net gain or loss

    total $85,577 · excluded $85,577

  • 11a · Other revenue: MISC

    total $72 · related or exempt $72

  • 11e · Other revenue, total

    $72

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $28,053 · management and general $28,053

  • 11c · Fees: accounting

    total $12,750 · management and general $12,750

  • 11f · Fees: investment management

    total $13,524 · management and general $13,524

  • 14 · Information technology

    total $1,486 · management and general $1,486

  • 19 · Conferences, conventions and meetings

    total $448 · management and general $448

  • 20 · Interest

    total $11,983 · management and general $11,983

  • 22 · Depreciation, depletion and amortization

    total $52,251 · program services $51,366 · management and general $885

  • 23 · Insurance

    total $9,019 · management and general $9,019

  • 24a · Other expenses: GENERAL AND ADMIN EXPEN

    total $1,342 · management and general $1,342

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,931 · end of year $63,216

  • 2 · Savings and temporary cash investments

    beginning of year $230,146 · end of year $404,044

  • 7 · Other notes and loans receivable

    beginning of year $746,556 · end of year $531,846

  • 10a · Land, buildings and equipment: cost or other basis

    $1,680,078

  • 10b · Land, buildings and equipment: accumulated depreciation

    $982,226

  • 10c · Land, buildings and equipment, net

    beginning of year $747,707 · end of year $697,852

  • 11 · Investments: publicly traded securities

    beginning of year $867,604 · end of year $996,976

  • 14 · Intangible assets

    beginning of year $33,583 · end of year $31,187

  • 15 · Other assets

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $263,311 · end of year $171,686

  • 25 · Other liabilities

    beginning of year $637,515 · end of year $569,532

  • 27 · Net assets without donor restrictions

    beginning of year $1,755,701 · end of year $1,983,903

Mission and programs · 2024

Mission

CIVIC REDEVELOPMENT

  • TO ADVANCE THE INTERESTS OF THE CITY OF WATERBURY, BOROUGH OF NAUGATUCK AND SURROUNDING COMMUNITIES.

    Expenses $51,366 · Revenue $93,628

As filed on the 2024 return.

Listed in Part VII

  • Jonathan Albert

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Carlos A Santos

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Catherine Awwad

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • David Rotatori

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Honorable Paul Pernerewski Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Honorable N Warren Hess

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lynn Ward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • James H Gatling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Belinda Arce Lopez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James Nardozzi

    INTERIM CEO

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
25 November 2025
IRS schema version
2024v5.2
Source object
202513449349300631

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