Bridgeport Economic Development Corp

Analysis

Bridgeport Economic Development Corp is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in February 1987, 39 years ago. 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, Bridgeport Economic Development Corp reported income of $247k and spending of $760k, spending 308% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $207k to $247k (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2021, when income rose by 1876%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bridgeport Economic Development Corp sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within CT. Charities of a similar size with the same main cause include Twin Valley Players ($247k), Youth for Christ USA Inc ($247k) and National Association of Farm Broadcasters Foundation ($247k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 0.4% of the total. Other salaries and wages came to $84k. At year end it held assets of $1.5m against liabilities of $179k, net assets of $1.4m.