Groundwork Bridgeport Inc

Analysis

Groundwork Bridgeport Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in May 2000, 26 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Groundwork Bridgeport Inc reported income of $520k and spending of $540k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $242k to $520k (+115%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 216%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Groundwork Bridgeport Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include Episcopal Housing Development Corporation of Grenada All Saints ($520k), Brady Social Enterprises Inc ($520k) and Our Jobs Our Children Our Future Inc ($520k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $155k (29% of expenses). Other salaries and wages came to $134k. At year end it held assets of $321k against liabilities of $21k, net assets of $300k. It reported 7 employees.