Civic Intelligence

Waterbury Land Bank Authority Inc

EIN 87-4720705 • 501(c)3 • Waterbury, CT

Profile

The waterbury land bank authority ("wlb") works to enhance the quality of life for waterbury residents. We do this by repurposing vacant lots and structures into new community assets. We work closely with the city of waterbury, other community nonprofits, and local businesses to catalyze neighborhood investments. Our priorities include infill housing, housing rehabilitation, community greening projects, and expanding waterbury's tree canopy. Our work promotes a mix of housing options, reduces blight, and clears dilapidated structures to allow new development.

207 Bank Street 3rd FloorWaterbury, CT 06702

waterburylandbank.org

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.06x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

59th percentile

0.04x

Higher debt load relative to revenue than 59% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

89th percentile

49%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$133,213

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

97th percentile

232%

Faster asset growth than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

89%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$468,257

Up $327,359 (+232%) from 2023

Liabilities

Down

$25,971

Down $18,102 (-41%) from 2023

Net Assets

Up

$442,286

Up $345,461 (+357%) from 2023

Operations
Liabilities / Revenue59th percentileNet Margin89th percentile

Revenue

Up

$707,062

Up $332,457 (+89%) from 2023

Expenses

Up

$361,600

Up $83,820 (+30%) from 2023

Net Income

Up

$345,462

Up $248,637 (+257%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

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

$600K$400K$200K$0Assets 2023: $140,898Liabilities 2023: $44,073Net Assets 2023: $96,8252023Assets 2024: $468,257Liabilities 2024: $25,971Net Assets 2024: $442,2862024

Highlighted filing

2024

Assets$468,257
Liabilities$25,971
Net Assets$442,286
Open 2024 Filing

Operations Trend

Revenue Growth89th percentile

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

$800K$600K$400K$200K$0Revenue 2023: $374,605Expenses 2023: $277,780Net Income 2023: $96,8252023Revenue 2024: $707,062Expenses 2024: $361,600Net Income 2024: $345,4622024

Highlighted filing

2024

Revenue$707,062
Expenses$361,600
Net Income$345,462
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$468,257
Liabilities
$25,971
Net assets
$442,286
Revenue
$707,062
Expenses
$361,600
Net income
$345,462
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.68$0.26$4.42$7.07$3.62$3.45
2023Detailed filing. Detailed filing data is available for this year.$1.41$0.44$0.97$3.75$2.78$0.97
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 10, 2025
Return Version
2023v6.0
Gross Receipts
$707,062
Mission and Program Overview

Mission

The waterbury land bank authority ("wlb") works to enhance the quality of life for waterbury residents. We do this by repurposing vacant lots and structures into new community assets. We work closely with the city of waterbury, other community nonprofits, and local businesses to catalyze neighborhood investments. Our priorities include infill housing, housing rehabilitation, community greening projects, and expanding waterbury's tree canopy. Our work promotes a mix of housing options, reduces blight, and clears dilapidated structures to allow new development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$96,825$442,286▲ $345,461
Inventories for Sale or Use-$281,446-
Cash and Non-Interest-Bearing Accounts$76,541$143,536▲ $66,995
Land, Buildings, and Equipment, Net$39,000$19,250▼ $19,750
Intangible Assets-$9,750-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$140,898$468,257▲ $327,359
Other Assets Total$25,357$14,275▼ $11,082
Liabilities
Deferred Revenue$19,500--
Other Liabilities$24,573$13,692▼ $10,881
Accounts Payable and Accrued Expenses-$12,279-
Total Liabilities$44,073$25,971▼ $18,102
Net Assets / Fund Balance
Total Net Assets Fund Balance$96,825$442,286▲ $345,461
Total Liabilities and Net Assets / Fund Balance$140,898$468,257▲ $327,359

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,250$5,250$24,500
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nancy MacmillanExecutive DirectorFT$133,213$133,213

Board Members and Trustees

NameTitle
Fred LuedkeChair
James GatlingVice-chair
Daniel LauerMember
Gawdys GrullonMember
Joel BeckerMember
Magaret SmithSecretary
Robert PolitoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$705,303
Program Service Revenue
$0
Investment Income
$1,759
Other Revenue
$0
All Other Contributions
$173,052
Change in Net Assets
$345,462

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential11$270,000Real Estate Appraisal
Total Noncash Contributions11$270,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$707,062
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$707,062
Total Revenue per Form 990
$707,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$245,867
Other Expenses$115,733
Total Fundraising Expense$1,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$66,606$66,606-$133,212
Other Salaries and Wages$35,344$35,344-$70,688
Pension Plan Contributions$13,184$13,185-$26,369
Insurance$10,219$10,219-$20,438
Fees for Services Legal-$19,333-$19,333
Other Expenses$7,971$7,971-$15,942
Payroll Taxes$7,799$7,799-$15,598
Fees for Services Management-$15,272-$15,272
Fees for Services Accounting-$13,070-$13,070
Occupancy$5,800$5,801-$11,601
Depreciation Depletion$6,500$3,500-$10,000
Office Expenses$3,508$3,508-$7,016
Fees for Services Other-$1,236-$1,236
Advertising--$1,045$1,045
Travel$780--$780
Total Functional Expenses$157,711$202,844$1,045$361,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$361,601
Total Expenses per Audited Statements$361,601
Total Expenses per Form 990$361,601
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$13,692
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
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

“Form 990 is distributed to the executive director, outside accounting contractor and the organization's treasurer for review and approval prior to filing.”

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

“Annual sign off of conflict of interest”

Form 990, Part VI, Section B, Line 15A

“The executive director's compensation is determined based on the result of yearly performance review by the board.”

Form 990, Part VI, Section C, Line 18

“UPON REQUEST”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Waterbury Land Bank Authority Inc
EIN
87-4720705
Phone
2037216958
Address
207 BANK STREET 3RD FLOOR, WATERBURY, CT 06702

Signing Officer

Name
Nancy Macmillan
Title
Executive Director
Phone
2037216958
Signed
2025-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Macmillan
Formed
2022
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
7

Preparer

Firm
Zackin Zimyeski Sullivan CPA LLC
Address
333 CHURCH STREET, NAUGATUCK, CT 06770
Preparer
Keith Sullivan
Phone
2037532200
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The board of directors is responsible for overseeing the review”

Raw XML Appendix394 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/ActivityOrMissionDesc0THE WATERBURY LAND BANK AUTHORITY ("WLB") WORKS TO ENHANCE THE QUALITY OF LIFE FOR WATERBURY RESIDENTS. WE DO THIS BY REPURPOSING VACANT LOTS AND STRUCTURES INTO NEW COMMUNITY ASSETS. WE WORK CLOSELY WITH THE CITY OF WATERBURY, OTHER COMMUNITY NONPROFITS, AND LOCAL BUSINESSES TO CATALYZE NEIGHBORHOOD INVESTMENTS. OUR PRIORITIES INCLUDE INFILL HOUSING, HOUSING REHABILITATION, COMMUNITY GREENING PROJECTS, AND EXPANDING WATERBURY'S TREE CANOPY. OUR WORK PROMOTES A MIX OF HOUSING OPTIONS, REDUCES BLIGHT, AND CLEARS DILAPIDATED STRUCTURES TO ALLOW NEW DEVELOPMENT.
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0374605
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01079908
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01759
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01759
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99840
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01079908
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0705303
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0374605
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01079908
IRS990ScheduleA/TotalSupportAmt01081667
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt019250
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05250
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024500
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0361601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013692
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0707062
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019250
IRS990ScheduleD/TotalExpensesPerForm990Amt0361601
IRS990ScheduleD/TotalLiabilityAmt013692
IRS990ScheduleD/TotalRevenuePerForm990Amt0707062
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0707062
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0361601
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt011
IRS990ScheduleM/RealEstateResidentialGrp/MethodOfDeterminingRevenuesTxt0REAL ESTATE APPRAISAL
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt0270000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS DISTRIBUTED TO THE EXECUTIVE DIRECTOR, OUTSIDE ACCOUNTING CONTRACTOR AND THE ORGANIZATION'S TREASURER FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL SIGN OFF OF CONFLICT OF INTEREST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BASED ON THE RESULT OF YEARLY PERFORMANCE REVIEW BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSEEING THE REVIEW
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0140898
IRS990/TotalAssetsEOYAmt0468257
IRS990/TotalAssetsGrp/BOYAmt0140898
IRS990/TotalAssetsGrp/EOYAmt0468257
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0705303
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01045
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0202844
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0157711
IRS990/TotalFunctionalExpensesGrp/TotalAmt0361600
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt044073
IRS990/TotalLiabilitiesEOYAmt025971
IRS990/TotalLiabilitiesGrp/BOYAmt044073
IRS990/TotalLiabilitiesGrp/EOYAmt025971
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt096825
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0442286
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0157711
IRS990/TotalReportableCompFromOrgAmt0133213
IRS990/TotalRevenueGrp/ExclusionAmt01759
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0707062
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0140898
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0468257
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0780
IRS990/TravelGrp/TotalAmt0780
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0207 BANK STREET 3RD FLOOR
IRS990/USAddress/CityNm0WATERBURY
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006702
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WATERBURYLANDBANK.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NANCY MACMILLAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02037216958
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATERBURY LAND BANK AUTHORITY INC
ReturnHeader/Filer/BusinessNameControlTxt0WATE
ReturnHeader/Filer/EIN0874720705
ReturnHeader/Filer/PhoneNum02037216958
ReturnHeader/Filer/USAddress/AddressLine1Txt0207 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
ReturnHeader/PreparerPersonGrp/PhoneNum02037532200
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEITH SULLIVAN
ReturnHeader/ReturnTs02025-02-11T15:13:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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