Legacy Waterbury Hospital Inc
Only 5% goes to programs $0 to raise $100 Strong reserves Declining revenue
Legacy Waterbury Hospital Inc is a 501(c)(3) organization based in Waterbury, Connecticut, registered in 1951, with $1,516,712 in FY2023 revenue. CharityIndex grades it C+, and it directs about 5% of spending to programs.
50 Leavenworth St, Waterbury, CT, 06702 EIN 06-0665979 Since 1951
Revenue (FY2023)
$1.5M
▼ 2.5% vs prior year
Health median: $840K
Expenses (FY2023)
$314K
Net assets
$8.9M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
CProgram efficiency40% of the rating5% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Legacy Waterbury Hospital Inc: 5% to programs · $0 to raise $100 earns a C on this criterion. See the exact thresholds →
B+Financial health25% of the rating342 mo reserves · +79% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Legacy Waterbury Hospital Inc: 342 mo reserves · +79% margin earns a B+ on this criterion. See the exact thresholds →
CGovernance25% of the rating2 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Legacy Waterbury Hospital Inc: 2 of 6 checks met earns a C on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Legacy Waterbury Hospital Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The organization's mission is to wind up the affairs of "waterbury hospital- and distribute the remaining assets to an unaffiliated 501(c)3 charity.
Contact & location
- Address
- 50 Leavenworth St, Waterbury, CT, 06702
- City
- Waterbury
- State
- Connecticut
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $234.2M (FY2013) to $1.5M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $1.4MNet assets $8.9M
Operating margin
79.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$10.3M
Total liabilities
$1.4M
Net assets
$8.9M
Salaries & benefits
$0
0% of expenses
Board members
4
4 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $1,516,712▼2.5% | $313,798▼59.9% | $8,936,615▲49.6% | $10,317,979▲47.8% | 990 |
| 2022 | $1,555,911▼50.8% | $782,938▼36.5% | $5,974,764▲47.4% | $6,982,513▼32.0% | 990 |
| 2021 | $3,160,589▼36.9% | $1,233,790▼90.8% | $4,052,356▲1191% | $10,269,449▲1.7% | 990 |
| 2020 | $5,007,818▲44.9% | $13,438,117▲508% | $313,805▼97.3% | $10,097,657▼54.5% | 990 |
| 2019 | $3,455,469▲53.0% | $2,211,667▲6.5% | $11,614,236▼4.6% | $22,199,234▼17.3% | 990 |
| 2017 | $2,257,953▼92.4% | $2,077,079▼92.9% | $12,180,430▲11.3% | $26,855,264▼8.5% | 990 |
| 2016 | $29,758,511▼87.2% | $29,184,775▼88.5% | $10,944,382▼55.7% | $29,338,581▼78.5% | 990 |
| 2015 | $232,961,877▲8.2% | $254,044,237▲12.1% | $24,686,176▼55.7% | $136,695,474▼10.3% | 990 |
| 2014 | $215,338,104▼8.1% | $226,623,259▼2.2% | $55,779,153▼31.1% | $152,423,511▼11.5% | 990 |
| 2013 | $234,229,162 | $231,828,540▼1.5% | $80,975,797▼6.0% | $172,168,042▲0.7% | 990 |
| 2012 | — | $235,329,732▼3.2% | $86,138,702▲3.9% | $170,955,068▼2.6% | 990 |
| 2011 | — | $243,218,169▼1.1% | $82,883,969▲10.0% | $175,531,371▲6.2% | 990 |
| 2010 | — | $246,001,359▲3.2% | $75,371,733▼21.4% | $165,252,085▲1.4% | 990 |
| 2009 | — | $238,338,882 | $95,885,036 | $163,030,487 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Carl B Sherter | Director | — | — |
| Carl Contadini | Chairman | — | — |
| David J Pizzuto Md | Director | — | — |
| John A Michaels | Director | — | — |
Top vendors & contractors (FY2020)
| Contractor | Services | Paid |
|---|---|---|
| Carmody Torrance Sandex & Hennessey | Legal | $278,990 |
Grants received · $28K total
1 grant to Legacy Waterbury Hospital Inc totaling $28K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Direct Relief | Support to us clinics & health centers for low-income, uninsured patients | 2019 | $27,742 |
Grants made · $11.5M in FY2020
1 grant totaling $11.5M in FY2020. All grants made by Legacy Waterbury Hospital Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Connecticut Community Foundation Inc | See schedule o | $11,522,200 |
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Frequently asked questions
- Is Legacy Waterbury Hospital Inc a legitimate nonprofit?
- Yes. Legacy Waterbury Hospital Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 06-0665979, based in Waterbury, Connecticut. Donations are tax-deductible.
- What is Legacy Waterbury Hospital Inc's EIN?
- Legacy Waterbury Hospital Inc's Employer Identification Number (EIN) is 06-0665979.
- How much revenue does Legacy Waterbury Hospital Inc report?
- Legacy Waterbury Hospital Inc reported $1,516,712 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Legacy Waterbury Hospital Inc's spending goes to programs?
- Legacy Waterbury Hospital Inc spends about 5% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Legacy Waterbury Hospital Inc have?
- CharityIndex grades Legacy Waterbury Hospital Inc C+, based on program efficiency and fundraising cost.
- How much does Legacy Waterbury Hospital Inc's highest-paid employee make?
- The highest reported compensation on Legacy Waterbury Hospital Inc's latest Form 990 is $0, paid to Carl B Sherter (Director).
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Data for Legacy Waterbury Hospital Inc (EIN 06-0665979) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.