Civic Intelligence

Naugatuck Valley Development Corporation

EIN 06-0854496 • 501(c)4 • Waterbury, CT

Profile

CIVIC REDEVELOPMENT

83 Bank Street 3rd FloorWaterbury, CT 06702

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.27x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

94th percentile

2.30x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Net Margin

90th percentile

59%

Higher net margin than 90% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2025

Revenue Growth

64th percentile

18%

Faster revenue growth than 64% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2025

Assets

Up

$2,725,121

Up $873,924 (+47%) from 2022

Liabilities

Up

$741,218

Up $417,837 (+129%) from 2022

Net Assets

Up

$1,983,903

Up $456,087 (+30%) from 2022

Revenue

Up

$322,660

Up $127,735 (+66%) from 2022

Expenses

Down

$130,856

Down $126,043 (-49%) from 2022

Net Income

Up

$191,804

Up $253,778 (+409%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $2,718,008Liabilities 2011: $194,830Net Assets 2011: $2,523,1782011Assets 2012: $2,624,765Liabilities 2012: $152,090Net Assets 2012: $2,472,6752012Assets 2013: $2,756,249Liabilities 2013: $108,046Net Assets 2013: $2,648,2032013Assets 2014: $2,939,013Liabilities 2014: $62,664Net Assets 2014: $2,876,3492014Assets 2015: $2,736,290Liabilities 2015: $15,902Net Assets 2015: $2,720,3882015Assets 2016: $2,710,264Liabilities 2016: $0Net Assets 2016: $2,710,2642016Assets 2017: $2,594,002Liabilities 2017: $0Net Assets 2017: $2,594,0022017Assets 2018: $2,130,282Liabilities 2018: $0Net Assets 2018: $2,130,2822018Assets 2019: $1,933,165Liabilities 2019: $0Net Assets 2019: $1,933,1652019Assets 2020: $1,774,579Liabilities 2020: $0Net Assets 2020: $1,774,5792020Assets 2021: $1,833,288Liabilities 2021: $65,310Net Assets 2021: $1,767,9782021Assets 2022: $1,851,197Liabilities 2022: $323,381Net Assets 2022: $1,527,8162022Assets 2025: $2,725,121Liabilities 2025: $741,218Net Assets 2025: $1,983,9032025

Highlighted filing

2025

Assets$2,725,121
Liabilities$741,218
Net Assets$1,983,903

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,024,493Expenses 2011: $886,124Net Income 2011: $138,3692011Revenue 2012: $166,073Expenses 2012: $238,276Net Income 2012: -$72,2032012Revenue 2013: $236,387Expenses 2013: $176,954Net Income 2013: $59,4332013Revenue 2014: $454,134Expenses 2014: $394,683Net Income 2014: $59,4512014Revenue 2015: $300,283Expenses 2015: $384,659Net Income 2015: -$84,3762015Revenue 2016: $122,493Expenses 2016: $109,601Net Income 2016: $12,8922016Revenue 2017: -$709Expenses 2017: $177,452Net Income 2017: -$178,1612017Revenue 2018: -$21,861Expenses 2018: $397,027Net Income 2018: -$418,8882018Revenue 2019: -$42,552Expenses 2019: $133,058Net Income 2019: -$175,6102019Revenue 2020: -$20,890Expenses 2020: $89,761Net Income 2020: -$110,6512020Revenue 2021: $33,511Expenses 2021: $216,796Net Income 2021: -$183,2852021Revenue 2022: $194,925Expenses 2022: $256,899Net Income 2022: -$61,9742022Revenue 2025: $322,660Expenses 2025: $130,856Net Income 2025: $191,8042025

Highlighted filing

2025

Revenue$322,660
Expenses$130,856
Net Income$191,804

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.73$0.74$1.98$0.32$0.13$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.85$0.32$1.53$0.19$0.26$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.83$0.07$1.77$0.03$0.22$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.77$0.00$1.77$0.02$0.09$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.93$0.00$1.93$0.04$0.13$0.18
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.00$2.13$0.02$0.40$0.42
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$0.00$2.59$0.00$0.18$0.18
2016Detailed filing. Detailed filing data is available for this year.$2.71$0.00$2.71$0.12$0.11$0.01
2015Summary only. Only limited summary data is available for this year.$2.74$0.02$2.72$0.30$0.38$0.08
2014Summary only. Only limited summary data is available for this year.$2.94$0.06$2.88$0.45$0.39$0.06
2013Summary only. Only limited summary data is available for this year.$2.76$0.11$2.65$0.24$0.18$0.06
2012Summary only. Only limited summary data is available for this year.$2.62$0.15$2.47$0.17$0.24$0.07
2011Summary only. Only limited summary data is available for this year.$2.72$0.19$2.52$1.02$0.89$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 25, 2025
Return Version
2024v5.2
Gross Receipts
$668,972
Mission and Program Overview

Mission

CIVIC REDEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$867,604$996,976▲ $129,372
Land, Buildings, and Equipment, Net$747,707$697,852▼ $49,855
Other Notes and Loans Receivable, Net$746,556$531,846▼ $214,710
Savings and Temporary Cash Investments$230,146$404,044▲ $173,898
Cash and Non-Interest-Bearing Accounts$30,931$63,216▲ $32,285
Intangible Assets$33,583$31,187▼ $2,396
Total Assets$2,656,527$2,725,121▲ $68,594
Other Assets Total$0--
Liabilities
Other Liabilities$637,515$569,532▼ $67,983
Accounts Payable and Accrued Expenses$263,311$171,686▼ $91,625
Total Liabilities$900,826$741,218▼ $159,608
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,755,701$1,983,903▲ $228,202
Total Net Assets Fund Balance$1,755,701$1,983,903▲ $228,202
Total Liabilities and Net Assets / Fund Balance$2,656,527$2,725,121▲ $68,594

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$540,067$959,933$1,500,000
Leasehold Improvements$157,290$21,495$178,785
Equipment$495$798$1,293
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$125,000
Program Service Revenue
$0
Investment Income
$113,388
Other Revenue
$84,272
Change in Net Assets
$191,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$130,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$51,366$885-$52,251
Fees for Services Management-$28,053-$28,053
Fees for Service Investment Mgmnt Fees-$13,524-$13,524
Fees for Services Accounting-$12,750-$12,750
Interest-$11,983-$11,983
Insurance-$9,019-$9,019
Information Technology-$1,486-$1,486
Other Expenses-$1,342-$1,342
Conferences and Meetings-$448-$448
Total Functional Expenses$51,366$79,490$0$130,856
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable$562,199
Security Deposit$7,333
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Accounting staff review the form 990 before distribution to the full board of directors.

Form 990, Part VI, Section B, Line 12C

To regularly and consistently enforce compliance with its conflict of interest policy, nvrdc ensures that all board members must revisit, renew, and re-sign the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

Pt vi, line 15a: the directors review compensation of the chief executive officer of the organization to ensure that the pay level is in line with similar positions in the state of connecticut. Pt vi, line 15b: the chief executive officer reviews compensation of key employees of the organization.

Form 990, Part VI, Section C, Line 19

The business manager makes the organization's governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Naugatuck Valley Regional Development Co
EIN
06-0854496
Phone
2033462607
Address
83 BANK STREET 3RD FLOOR, WATERBURY, CT 06702

Signing Officer

Name
James Nardozzi
Title
Interim CEO
Phone
2033462607
Signed
2025-11-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Nardozzi
Formed
1968
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
0

Preparer

Firm
Zackin Zimyeski Sullivan CPA LLC
Address
333 CHURCH STREET, NAUGATUCK, CT 06770
Preparer
Keith F Sullivan
Phone
2037532200
Raw XML AppendixShowing 400 of 408 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYProgramServiceRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt095604
IRS990/PYTotalExpensesAmt0226234
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0230803
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0191804
IRS990/RegularMonitoringEnfrcInd01
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IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt084200
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt093628
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0404044
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0540067
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0959933
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01500000
IRS990ScheduleD/EquipmentGrp/BookValueAmt0495
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0798
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01293
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0157290
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt021495
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0178785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07333
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1562199
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOAN PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0697852
IRS990ScheduleD/TotalLiabilityAmt0569532
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING STAFF REVIEW THE FORM 990 BEFORE DISTRIBUTION TO THE FULL BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO REGULARLY AND CONSISTENTLY ENFORCE COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY, NVRDC ENSURES THAT ALL BOARD MEMBERS MUST REVISIT, RENEW, AND RE-SIGN THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PT VI, LINE 15A: THE DIRECTORS REVIEW COMPENSATION OF THE CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION TO ENSURE THAT THE PAY LEVEL IS IN LINE WITH SIMILAR POSITIONS IN THE STATE OF CONNECTICUT. PT VI, LINE 15B: THE CHIEF EXECUTIVE OFFICER REVIEWS COMPENSATION OF KEY EMPLOYEES OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BUSINESS MANAGER MAKES THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WATERBURY DEVELOPMENT CORPORATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LONG RANGE PLANNING FOR ECONOMIC DEVELOPMENT
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt02725121
IRS990/TotalAssetsGrp/BOYAmt02656527
IRS990/TotalAssetsGrp/EOYAmt02725121
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0125000
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079490
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt051366
IRS990/TotalFunctionalExpensesGrp/TotalAmt0130856
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0900826
IRS990/TotalLiabilitiesEOYAmt0741218
IRS990/TotalLiabilitiesGrp/BOYAmt0900826
IRS990/TotalLiabilitiesGrp/EOYAmt0741218
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01755701
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01983903
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt051366
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0104032
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt093628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0322660
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02656527
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02725121
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt083 BANK STREET 3RD FLOOR
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IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006702
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES NARDOZZI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INTERIM CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02033462607
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NAUGATUCK VALLEY REGIONAL DEVELOPMENT CO
ReturnHeader/Filer/BusinessNameControlTxt0NAUG
ReturnHeader/Filer/EIN0060854496
ReturnHeader/Filer/PhoneNum02033462607
ReturnHeader/Filer/USAddress/AddressLine1Txt083 BANK STREET 3RD FLOOR
ReturnHeader/Filer/USAddress/CityNm0WATERBURY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006702
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061438606
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ZACKIN ZIMYESKI SULLIVAN CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0333 CHURCH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NAUGATUCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006770

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