Waterbury Opportunities Industrialization Inc
- Assets
- $1.2m
- Revenue
- $134.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Waterbury, CT
- Founding
- 08/1974
- Data as of
- 12/2020
- 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 12/2020, Waterbury Opportunities Industrialization Inc employed 2 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 12/2020, Waterbury Opportunities Industrialization Inc generated $134.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $179.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 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
2020
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
EMPLOYABILITY-TEACH COURSES IN LIFE SKILLS, BUSINESS, ADULT BASIC ED, COMPUTER LITERACY ETC. TO UNEMPLOYED, UNDEREMPLOYED, AND ECONOMICALLY DISADVANTAGED INDIVIDUALS, COUNSELING AND JOB READINESS WITH APPROXIMATELY 300 INDIVIDUALS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reginald Beamon Executive Director | Trustee | 40 | $38,000 |
Michael Devivo Director | Trustee | 2 | $0 |
Rev Leroy Perry Director | Trustee | 2 | $0 |
Avery Gaddis Director | Trustee | 2 | $0 |
Terryl Mitchell-Smith Chairman | Trustee | 2 | $0 |
George Gomes Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $112,727 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,742 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $117,469 |
| Total Program Service Revenue | $17,450 |
| Investment income | $1 |
| 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 | $134,920 |
| 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. | $38,000 |
| Compensation of current officers, directors, key employees. | $7,980 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,298 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,881 |
| Payroll taxes | $6,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| 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 | $1,928 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $467 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,322 |
| Payments to affiliates | $500 |
| Depreciation, depletion, and amortization | $40,886 |
| Insurance | $14,811 |
| All other expenses | $0 |
| Total functional expenses | $179,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,535 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,179,036 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $1,192,021 |
| Accounts payable and accrued expenses | $3,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $38,704 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $41,704 |
| Net assets without donor restrictions | $1,150,317 |
| 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 | $1,192,021 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Waterbury Opportunities Industrialization Inc has recieved totaling $26.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $26 |
Endowment Analysis
| Beg. Balance | $5,175 |
| Earnings | $877 |
| Admin Expense | $63 |
| Ending Balance | $5,989 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Work Incorporated Dorchester, MA | $48,287,405 | $46,198,835 |
Nysarc Inc Plattsburgh, NY | $17,616,173 | $35,732,920 |
The Workplace Inc Bridgeport, CT | $5,776,825 | $31,198,484 |
Viability Inc Springfield, MA | $38,067,974 | $37,236,421 |
Corporate Source Inc Garden City, NY | $23,910,461 | $27,653,054 |
Wildcat Service Corp New York, NY | $10,320,090 | $26,956,331 |
Community Work & Independence Inc Glens Falls, NY | $10,451,280 | $22,331,025 |
Marc Inc Of Manchester Manchester, CT | $8,800,021 | $14,465,697 |
Triangle Inc Malden, MA | $7,569,693 | $11,643,804 |
Sarah Inc Westbrook, CT | $8,388,396 | $12,212,686 |
Marrakech Incorporated Woodbridge, CT | $17,188,402 | $8,533,229 |
Project Genesis Incorporated Willimantic, CT | $9,969,984 | $6,952,463 |