Metropolitan Bridgeport Inc

Analysis

Metropolitan Bridgeport Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in December 1947, 79 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Metropolitan Bridgeport Inc reported income of $312k and spending of $1.3m, spending 424% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $138.7m to $312k (-100%), an average of -78% a year. The sharpest change came in the year to June 2023, when income rose by 860%. Over the whole period it spent 113% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Metropolitan Bridgeport Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within CT. Charities of a similar size with the same main cause include East Valley Institute of Technology Education Foundation Inc ($312k), Franklin Tomorrow Inc ($312k) and Life Enrichment Center of Norfolk ($312k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% of the total. Compensation of current officers, directors and key employees was $129k (9.8% of expenses). At year end it held assets of $8.4m against liabilities of $6.5m, net assets of $1.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.