Watertown Local Development Corporation
Donations deductibleRevenue
$456k
year to 31 December 2025
Expenses
$322k
year to 31 December 2025
Total assets
$10.6m
$267k liabilities
Net assets
$10.3m
assets less liabilities
Directors and trustees
7
5.1 years on average
Staff
2
employees, year to 31 December 2025
Left since last filing
0
no seats appear to have opened
Officers and senior staff
4
named in Part VII
Watertown Local Development Corporation's network
7 people10 organisationsi7 people and 10 organisations on this map.The large node is the subject of this page. Solid lines are what the register itself records (7). Violet dotted lines (10) are likely: the same full name sits on the current board of another organisation in the same register and region. Form 990 filings give names without a person identifier; SEC insider filings carry a CIK. It may be a different person.The board
7 listediTime on the board is observed from the annual filings: the IRS files no appointment date, so the bar counts years from the first filing the person appears on - a lower bound, not a filed start date. Names are exactly as filed. The IRS publishes no person identifier, so this edition does not yet link a person across organisations in the tables. The network map shows same-name matches as likely links only, never as confirmed.Time served and departures are observed across annual filings. Observed time served is a lower bound - a member may have joined before the first year on record. The organisation reported 7 voting members of its governing body on its latest Form 990 Part VI, which matches the board listed here.| Name | Role as filed | Since | On the board |
|---|---|---|---|
| Christina Grimshaw | Director | 2024 | 2 yrs |
| Dawn Cole | Director | 2022 | 4 yrs |
| Marshall Weir | Vice President | 2024 | 2 yrs |
| Michael Lumbis | Director | 2018 | 8 yrs |
| Michael Pierce | Treasurer/Secretary | 2019 | 7 yrs |
| Sarah Compo Pierce | President | 2024 | 2 yrs |
| Stephen Hunt | Director | 2018 | 8 yrs |
Under 5 years5 to 6 years6 years or more
Officers and senior leadership
4 listediNamed in Part VII as officers, key employees or highest-compensated staff - not board members, shown for completeness.| Name | Title as filed | On the filings |
|---|---|---|
| Don Rutherford | CEO (Former) | since 2018 |
| Joy Nuffer | CFO | since 2024 |
| Kim Taylor | CFO | since 2018 |
| Kylee McGrath | Executive Assistant | since 2019 |
Pay and hours
year to 31 December 2025iFrom Part VII of the Form 990: compensation reported for each officer, director, trustee, key employee and highest-paid staff member, and the average hours a week they report. Most board members are unpaid; a blank means nothing was reported. Pay from related organisations is shown separately.| Name | Title as filed | Hours a week | Pay from the organisation | Related organisations | Other |
|---|---|---|---|---|---|
| Kylee McGrath | CEO | 40 | $91k | $9k | |
| Joy Nuffer | CFO | 40 | $66k | $30k | |
| Sarah Compo Pierce | President | 1 | $0 | ||
| Michael Pierce | Treasurer/Secretary | 1 | $0 | ||
| Marshall Weir | Vice President | 1 | $0 | ||
| Christina Grimshaw | Director | 1 | $0 | ||
| Dawn Cole | Director | 1 | $0 | ||
| Stephen Hunt | Director | 1 | $0 | ||
| Michael Lumbis | Director | 1 | $0 |
About
- Legal name
- Watertown Local Development Corporation
- EIN
- 161199439
- Address
- 259 Jb Wise Place Suite 100, Watertown, NY, 13601-2587
- State
- New York
- Mission
- 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. (as filed on the Form 990)
- Activity (NTEE)
- S31Z Community improvement and capacity building
- IRS classification
- 501(c)03 (tax-exempt under section 501(c)(3) where shown)
- Classified purpose
- Community Improvement & Capacity Building
- Size band
- 8 (IRS master file code)
- Formed
- 1981
- Principal officer
- Kylee McGrath (as named on the Form 990)
- IRS ruling date
- 1 June 1984
- Status
- Code 01 (unconditional exemption)
- Form 990 filings on record
- 8, latest 2025
- IRS Publication 78
- PC (contributions deductible)
Most connected
Longest observed on the filings
≥8years on the filingsMichael Lumbis
≥8years on the filingsStephen Hunt
≥7years on the filingsMichael Pierce
≥4years on the filingsDawn Cole
Latest return
year to 31 December 2025iFigures from the newest Form 990 or 990-EZ in the IRS e-file releases of 2025 and 2026, for the year ending 31 December 2025. US dollars, as filed.- Total assets
- $10.6m
- Total liabilities
- $267k
- Net assets or fund balances
- $10.3m
- Contributions and grants received
- $0
- Program service revenue
- $263k
- Employees
- 2
Filed finances
1 yeariTotals as filed on the IRS Form 990 (revenue and expenses), by tax year.| Tax year | Total revenue | Total expenses | Surplus or deficit |
|---|---|---|---|
| 2024 | $748k | $347k | $401k |
As filed on the IRS Form 990. US dollars.
State registration
1 entityiBusiness-entity registers published by US states. These records are matched to this organisation by name and state, not by EIN, and are labelled as likely matches. Street addresses are not shown.Watertown Local Development Corporation likely matchiMatched by exact name and state (and ZIP where shown). State registers do not publish EINs, so this is not a confirmed match. Source: New York Department of State, active corporations (data.ny.gov n9v6-gdp6). Licence: New York open data terms of use. Data last fetched 18 October 2026.
- State
- New York
- Entity type
- Domestic Not-For-Profit Corporation
- Status
- Active
- Formed
- 24 November 1982
- Registered agent
- Not stated