Watertown Local Development
The organization's mission is to foster an environment of cooperation between the city government, economic development agencies and the private sector with the goal of promoting economic expansion and prosperity in the city of watertown. Moreover, the organization uses financial resources to leverage other investments, with the goal of job creation, retention and elimination of blight.
Watertown Local Development at a glance
- Total assets
- $10,581,345
- +3.3% vs 2024
- Revenue (2025)
- $455,834
- -39.0% vs 2024
- Net investment income (2025)
- $121,783
- -28.9% vs 2024
- Expenses (2025)
- $322,453
- -7.1% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Watertown Local Development funds
How this funder distributes its grants
Grant Size Distribution
2 grants across all recorded years
The most common grant size was under $50K: 2 grants of 2 (100%).
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 2023, annual grant giving ranged from $40K (2021) to $40K (2023). In 2023 it made 1 grant totaling $40K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Thompson Park Conservancy Watertown, NY | To Provide Assitance for Business Activity. | $40,000 |
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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 | $10,581,345 | $455,834 | $322,453 | — | — | $121,783 |
| 2024 | $10,247,172 | $747,698 | $347,124 | — | — | $171,345 |
| 2023 | $9,714,987 | $759,545 | $1,060,489 | $40,000 | 1 | $111,499 |
| 2022 | $9,579,121 | $388,647 | $544,652 | — | — | $85,489 |
| 2021 | $10,149,008 | $569,962 | $833,865 | $40,000 | 1 | $144,440 |
| 2020 | $10,372,173 | $523,278 | $601,879 | — | — | $123,555 |
About Watertown Local Development
Based on IRS filings
Watertown Local Development is a public charity focused on Community Improvement & Capacity Building, based in Watertown, NY. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $10.6M in total assets. Net investment income was $122K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Watertown Local Development is led by Kylee McGrath, CEO since 2024 (on filings since 2020); 2 of 9 officers listed in 2025 are compensated.
Officers on the 2025 filing
Kylee McGrath
CEO
CFO → CEO, 2024
On filings since 2020
40 hrs/week
$38K (2020) → $91K (2025)
Sarah Compo Pierce
President
On filings since 2024
1 hr/week
No compensation reported
Michael Lumbis
Director
On filings since 2020
1 hr/week
No compensation reported
Stephen Hunt
Director
On filings since 2020
1 hr/week
No compensation reported
Dawn Cole
Director
On filings since 2022
1 hr/week
No compensation reported
Christina Grimshaw
Director
On filings since 2024
1 hr/week
No compensation reported
Joy Nuffer
CFO
On filings since 2024
40 hrs/week
$36K (2024) → $66K (2025)
Michael Pierce
Treasurer & Secretary
Director → Treasurer & Secretary, 2024
On filings since 2020
1 hr/week
No compensation reported
Marshall Weir
Vice President
On filings since 2024
1 hr/week
No compensation reported
Former officers (7)
- Former: Don Rutherford (2020–2024) — CEO
- Former: Charles Capone (2020–2023) — Treasurer & Secretary
- Former: Jeffrey Smith (2020–2023) — President
- Former: Dave Zembiec (2021–2023) — Vice President
- Former: Melinda Gault (2021) — Director
- Former: Donald Alexander (2020) — Director
- Former: Erika Flint (2020) — Vice President
Data from IRS Form 990 filings, 2020–2025. "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 $91K, to Kylee McGrath (CEO). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Watertown Local Development
How large is Watertown Local Development?
Watertown Local Development reported $10.6M in total assets on its 2025 IRS Form 990. Its revenue that year was $456K.
What is Watertown Local Development?
Watertown Local Development is a public charity focused on Community Improvement & Capacity Building, based in Watertown, NY. It holds $10.6M in total assets as of 2025.
Where does Watertown Local Development operate?
Watertown Local Development has awarded grants in New York.
What is Watertown Local Development's EIN?
Watertown Local Development's EIN (Employer Identification Number) is 16-1199439. IRS Form 990 filing data is available on this page for 2020–2025.
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 2020–2025
Live grants for the work Watertown Local Development funds
Community Improvement & Capacity Building Open opportunities, soonest deadline first.
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Browse active grant opportunities in Watertown Local Development's focus areas in our free grants database
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Watertown Local Development down — hundreds of funders to go?