Waterbury Development Corporation
To stimulate and support economic and housing development within the communities of the city of waterbury.
Waterbury Development Corporation at a glance
- Total assets
- $8,356,685
- +3.3% vs 2024
- Revenue (2025)
- $4,665,443
- +40.3% vs 2024
- Net investment income (2025)
- $168,734
- +6.2% vs 2024
- Expenses (2025)
- $4,792,526
- +36.0% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Waterbury Development Corporation funds
How this funder distributes its grants
Grant Size Distribution
2 grants across all recorded years
The most common grant size was under $50K: 1 grant of 2 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2022, annual grant giving ranged from $2K (2022) to $70K (2021). In 2022 it made 1 grant totaling $2K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| City Youth Theater Waterbury, CT | Funds Are to Provide Organizational Support. | $2,357 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $8,356,685 | $4,665,443 | $4,792,526 | — | — | $168,734 |
| 2024 | $8,089,974 | $3,325,742 | $3,523,046 | — | — | $158,828 |
| 2023 | $8,144,248 | $3,731,866 | $3,808,209 | — | — | $57,678 |
| 2022 | $8,604,069 | $2,421,027 | $2,694,678 | $2,357 | 1 | $3,244 |
| 2021 | $8,851,216 | $4,863,505 | $4,991,162 | $70,000 | 1 | $3,537 |
| 2020 | $9,912,324 | $4,487,317 | $4,304,328 | — | — | $41,261 |
| 2019 | $10,336,496 | $9,141,713 | $8,991,357 | — | — | $73,196 |
About Waterbury Development Corporation
Based on IRS filings
Waterbury Development Corporation is a public charity focused on Community Improvement & Capacity Building, based in Waterbury, CT. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $8.4M in total assets. Net investment income was $169K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Waterbury Development Corporation is led by James Nardozzi, Executive Director since 2025 (on filings since 2019); 4 of 25 officers listed in 2025 are compensated.
Officers on the 2025 filing
James Nardozzi
Executive Director
Interim CEO → Executive Director, 2025
On filings since 2019
37.5 hrs/week
$111K (2019) → $0 (2025)
Catherine Awwad
Chairman
On filings since 2019
0.5 hrs/week
No compensation reported
James Nealon
CFO
On filings since 2023
37.5 hrs/week
$72K (2023) → $90K (2025)
Ronald Cassella
Vice President of Operations
On filings since 2023
37.5 hrs/week
$145K (2023) → $181K (2025)
Thomas Favazzo
Project Manager
On filings since 2023
37.5 hrs/week
$112K (2023) → $122K (2025)
Thomas Hyde
Former Executive Director
Executive Director → Former Executive Director, 2025
On filings since 2024
37.5 hrs/week
$179K (2025)
Arthur Denze
Board Member
On filings since 2019
0.5 hrs/week
No compensation reported
Domenic Giglio
Board Member
On filings since 2019
0.5 hrs/week
No compensation reported
Jack Traver Jr.
Board Member
On filings since 2019
0.5 hrs/week
No compensation reported
Joseph Dorso
Board Member
On filings since 2019
0.5 hrs/week
No compensation reported
Joseph R. McGrath
Vice Chairman
On filings since 2019
0.5 hrs/week
No compensation reported
Lynn G. Ward
Secretary
On filings since 2019
0.5 hrs/week
No compensation reported
William Rybczyk
Treasurer
Board Member → Treasurer, 2020
On filings since 2019
0.5 hrs/week
No compensation reported
Mary M. Rosengrant-Chiappalone
Board Member
On filings since 2022
0.5 hrs/week
No compensation reported
William Palomba
Board Member
On filings since 2022
0.5 hrs/week
No compensation reported
Kenneth Cook
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Matt Byrne
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Stephen A. Dohoney
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Susan Sprano
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Carmen Romeo
Board Member
On filings since 2024
0.5 hrs/week
No compensation reported
David Lepore
Board Member
On filings since 2024
0.5 hrs/week
No compensation reported
Michael Digiovancarlo
Board Member
On filings since 2024
0.5 hrs/week
No compensation reported
Ruben Rodriguez
Board Member
On filings since 2024
0.5 hrs/week
No compensation reported
George Tirado Jr.
Board Member
New on the 2025 filing
0.5 hrs/week
No compensation reported
Robert Burns Director
Board Member
New on the 2025 filing
0.5 hrs/week
No compensation reported
Former officers (23)
- Former: Robert Burns (2019–2024) — Board Member
- Former: Michael Cervellino (2022–2024) — Board Member
- Former: George Tiardo Jr. (2023–2024) — Board Member
- Former: Paul K. Pernerewski Jr. (2019–2023) — Board Member
- Former: William Pizzuto (2020–2023) — Board Member
- Former: Michael L. O'Connor (2019–2022) — Board Member
- Former: Ginne-Ray Clay (2020–2022) — Board Member
- Former: Jim Nealon (2022) — Chief Financial Officer
- Former: Robert Devito (2020–2021) — Board Member
- Former: Richard Dupont (2021) — Board Member
- Former: Tiadoa Josef (2021) — Board Member
- Former: Carl W. Rosa (2019–2020) — Board Member
- Former: Mackenzie Demac (2019–2020) — Board Member
- Former: Mark Holtz (2019–2020) — Board Member
- Former: Roger L. Sherman Jr. (2019–2020) — Board Member
- Former: Donald C. McPartland (2020) — Board Member
- Former: Anthony T. Piccochi (2019) — Board Member
- Former: Bettejane Wesson (2019) — Board Member
- Former: Brian Amero (2019) — Board Member
- Former: Elliot Johnson (2019) — Board Member
- Former: Frederick L. Luedke (2019) — Treasurer
- Former: Joseph Geary To (2019) — Board Member
- Former: Michael Novak To (2019) — Board Member
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $181K, to Ronald Cassella (VP of Operations). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Waterbury Development Corporation
How large is Waterbury Development Corporation?
Waterbury Development Corporation reported $8.4M in total assets on its 2025 IRS Form 990. Its revenue that year was $4.7M.
What is Waterbury Development Corporation?
Waterbury Development Corporation is a public charity focused on Community Improvement & Capacity Building, based in Waterbury, CT. It holds $8.4M in total assets as of 2025.
Where does Waterbury Development Corporation operate?
Waterbury Development Corporation has awarded grants in Connecticut.
What is Waterbury Development Corporation's EIN?
Waterbury Development Corporation's EIN (Employer Identification Number) is 06-1549006. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2019–2025
Live grants for the work Waterbury Development Corporation funds
Community Improvement & Capacity Building Open opportunities, soonest deadline first.
- Leveling-Up Award $1,000 · Due October 25, 2026
- Arnold F. Keller, Jr. Grant for New Initiatives/Program Expansion $25,000 · Due October 27, 2026
- Wausau Marathon County Impact Grants (Community Foundation of North Central Wisconsin) $1,000 to $100,000 depending on the scope of the project · Due October 27, 2026
Explore Open Grants
Browse active grant opportunities in Waterbury Development Corporation's focus areas in our free grants database
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