Bridgeport Economic Development Corp
EIN: 237374878 · Bridgeport, CT
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $760K |
| Net Assets | $1.4M |
Is Bridgeport Economic Development Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Bridgeport Economic Development Corp
Bridgeport Economic Development Corp (EIN: 237374878) is a nonprofit organization based in Bridgeport, CT. The organization reported total revenue of $1.2M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bridgeport Economic Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bridgeport Economic Development Corp is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $247K |
| Total Expenses | $760K |
| Surplus / Deficit | $-513,015 |
| Total Assets | $1.5M |
| Total Liabilities | $179K |
| Net Assets | $1.4M |
| Operating Margin | -207.7% |
| Debt-to-Asset Ratio | 11.5% |
| Months of Reserves | 24.5 months |
Financial Health Grade: B
In 2023, Bridgeport Economic Development Corp reported a deficit of $513K with expenses exceeding revenue, holds 24.5 months of operating reserves (strong position), has a debt-to-asset ratio of 11.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bridgeport Economic Development Corp's revenue has declined at a compound annual growth rate (CAGR) of -5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -29.0% | +57.0% | -19.7% |
| 2022 | -83.4% | +156.0% | -5.3% |
| 2021 | +1875.6% | +3.4% | +1314.0% |
| 2020 | -48.9% | +2.8% | -31.3% |
| 2019 | -11.9% | +48.0% | -68.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Bridgeport Economic Development Corp has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bridgeport Economic Development Corp with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $513K, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.5%.
Frequently Asked Questions about Bridgeport Economic Development Corp
Is Bridgeport Economic Development Corp a legitimate charity?
Bridgeport Economic Development Corp (EIN: 237374878) is a registered tax-exempt nonprofit based in Connecticut. It has 13 years of IRS 990 filings on record. Total revenue: $1.2M. No red flags identified. Financial health grade: B.
How does Bridgeport Economic Development Corp spend its money?
Bridgeport Economic Development Corp reported $1.2M in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Bridgeport Economic Development Corp tax-deductible?
Bridgeport Economic Development Corp is registered as a tax-exempt nonprofit (EIN: 237374878). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Bridgeport Economic Development Corp located?
Bridgeport Economic Development Corp is headquartered in Bridgeport, Connecticut and files with the IRS under EIN 237374878.
How many years of IRS 990 filings does Bridgeport Economic Development Corp have?
Bridgeport Economic Development Corp has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Filing History
IRS 990 filing history for Bridgeport Economic Development Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bridgeport Economic Development Corp's revenue has declined by 51.6%, moving from $510K to $247K. Total assets increased by 93.1% over the same period, from $802K to $1.5M. Total functional expenses rose by 33.1%, from $571K to $760K. In its most recent filing year (2023), Bridgeport Economic Development Corp reported a deficit of $513K, with expenses exceeding revenue. The organization holds $179K in liabilities against $1.5M in assets (debt-to-asset ratio: 11.5%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $247K | $760K | $1.5M | $179K | — | — |
| 2022 | $348K | $484K | $1.9M | $45K | — | — |
| 2021 | $2.1M | $189K | $2.0M | $16K | — | View 990 |
| 2020 | $106K | $183K | $144K | $28K | — | View 990 |
| 2019 | $207K | $178K | $210K | $17K | — | View 990 |
| 2018 | $235K | $120K | $673K | $58K | — | View 990 |
| 2017 | $141K | $78K | $547K | $47K | — | View 990 |
| 2016 | $205K | $194K | $512K | $75K | — | View 990 |
| 2015 | $380K | $381K | $685K | $259K | — | View 990 |
| 2014 | $421K | $431K | $639K | $211K | — | View 990 |
| 2013 | $45K | $47K | $495K | $55K | — | View 990 |
| 2012 | $59K | $6K | $814K | $371K | — | View 990 |
| 2011 | $510K | $571K | $802K | $412K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $247K, expenses of $760K, and assets of $1.5M (revenue -29.0% year-over-year).
- 2022: Revenue of $348K, expenses of $484K, and assets of $1.9M (revenue -83.4% year-over-year).
- 2021: Revenue of $2.1M, expenses of $189K, and assets of $2.0M (revenue +1875.6% year-over-year).
- 2020: Revenue of $106K, expenses of $183K, and assets of $144K (revenue -48.9% year-over-year).
- 2019: Revenue of $207K, expenses of $178K, and assets of $210K (revenue -11.9% year-over-year).
- 2018: Revenue of $235K, expenses of $120K, and assets of $673K (revenue +67.1% year-over-year).
- 2017: Revenue of $141K, expenses of $78K, and assets of $547K (revenue -31.5% year-over-year).
- 2016: Revenue of $205K, expenses of $194K, and assets of $512K (revenue -46.0% year-over-year).
- 2015: Revenue of $380K, expenses of $381K, and assets of $685K (revenue -9.6% year-over-year).
- 2014: Revenue of $421K, expenses of $431K, and assets of $639K (revenue +837.0% year-over-year).
- 2013: Revenue of $45K, expenses of $47K, and assets of $495K (revenue -24.2% year-over-year).
- 2012: Revenue of $59K, expenses of $6K, and assets of $814K (revenue -88.4% year-over-year).
- 2011: Revenue of $510K, expenses of $571K, and assets of $802K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bridgeport Economic Development Corp:
Data Sources and Methodology
This transparency report for Bridgeport Economic Development Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.