Metropolitan Bridgeport Inc

Organization Overview

Metropolitan Bridgeport Inc is located in Bridgeport, CT. The organization was established in 1947. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Metropolitan Bridgeport Inc employed 1,659 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Bridgeport Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2020, Metropolitan Bridgeport Inc generated $150.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $143.6m during the year ending 06/2020. While expenses have increased by 0.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

METROPOLITAN UNIVERSITY, INC. (FKA UNIVERSITY OF BRIDGEPORT) (THE UNIVERSITY) OFFERS CAREER ORIENTED UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES AND PROGRAMS FOR PEOPLE SEEKING PERSONAL AND PROFESSIONAL GROWTH. THE UNIVERSITY PROMOTES ACADEMIC EXCELLENCE, PERSONAL RESPONSIBILITY, AND COMMITMENT TO SERVICE. DISTINCTIVE CURRICULA IN AN INTERNATIONAL, CULTURALLY DIVERSE, SUPPORTIVE LEARNING ENVIRONMENT PREPARE GRADUATES FOR LIFE AND LEADERSHIP IN AN INCREASINGLY INTERCONNECTED WORLD. THE UNIVERSITY IS INDEPENDENT AND NON-SECTARIAN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT WAS SOLD TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC. (NEW UB), A CONNECTICUT NONSTOCK CORPORATION AND SUBSIDIARY OF GOODWIN UNIVERSITY, AND SOUND EDUCATION, LLC, (PAIER COLLEGE) A CONNECTICUT LIMITED LIABILITY COMPANY FORMED BY PAIER COLLEGE.IN ORDER TO AVOID THE CONFUSION THAT THE NEW UNIVERSITY OF BRIDGEPORT AND THE UNIVERSITY OF BRIDGEPORT MIGHT CAUSE, AND TO EMPHASIZE THAT THE NEW UNIVERSITY OF BRIDGEPORT WOULD CONTINUE TO OFFER MOST OF THE PROGRAMS THAT THE UNIVERSITY OF BRIDGEPORT HAD OFFERED, THE UNIVERSITY OF BRIDGEPORT CHANGED ITS NAME TO METROPOLITAN BRIDGEPORT INC. ON JUNE 28, 2021.THE ONGOING MISSION OF METROPOLITAN BRIDGEPORT INC. CONSISTS OF THE CONDUCT OF WIND DOWN OPERATIONS THAT ARE THE RESPONSIBILITY OF OLD UB WHICH WERE NOT ASSUMED BY GOODWIN, INCLUSIVE OF PHASING OUT CERTAIN RETIREMENT PLANS, SETTLING CERTAIN LIABILITIES, PROCESSING AND PAYING UNEMPLOYMENT BENEFITS INCURRED BY EMPLOYEES OF OLD UB, ENSURING COMPLIANCE WITH CERTAIN TAX FILINGS, PHASING OUT OF REMAINING PERKINS LOANS, TRANSFERRING CONTRACTS THAT GOODWIN WILL MAINTAIN, AND TRANSFERRING NET ASSETS WITH DONOR RESTRICTIONS TO GOODWIN.PRIOR TO THE SALE, THE ORGANIZATION WAS AN INDEPENDENT AND NONSECTARIAN INTERNATIONAL ACADEMIC INSTITUTION. THERE WERE APPROXIMATELY 4,155 STUDENTS FROM 49 STATES, 1 U.S. TERRITORIES AND 51 COUNTRIES ENROLLED FOR THE YEAR ENDED JUNE 30, 2021.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
C&w Facility Services Inc
Building & Grounds Maintenance
$3,140,502
Sodexo Operations
Campus Food Services
$2,920,269
Bba Solutions Parnership Group Llc
Student Services - Student Textbooks
$2,838,226
Ariste Advisors Llc
Financial Advisory/ Consulting Services
$1,779,034
Securitas Security
Security Services
$1,486,418
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$5,887,781
Investment income $386,405
Tax Exempt Bond Proceeds $0
Royalties $490
Net Rental Income $240,184
Net Gain/Loss on Asset Sales $308,713
Net Income from Fundraising Events $710
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $150,399,148

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Metropolitan Bridgeport Inc has recieved totaling $56,348.

Awarding OrganizationAmount
Philip Marett Trust Uw 043785

Dallas, TX

PURPOSE: SCHOLARSHIPS

$32,330
Rodney M Gould Foundation Inc

Ridgefield, CT

PURPOSE: EDUCATION

$12,018
The Richard And Barbara Whitcomb Foundation

Holyoke, MA

PURPOSE: GENERAL SUPPORT

$12,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$19,387,016
Earnings$101,963
Admin Expense$11,790
Net Contributions$677,873
Other Expense$10,535,834
Ending Balance$9,619,228

Peer Organizations

Organization NameAssets
Fordham University
Bronx, NY
$953,892,663
Rochester Institute Of Technology
Rochester, NY
$1,071,324,345
St Johns University New York
Jamaica, NY
$798,473,536
Rensselaer Polytechnic Institute
Troy, NY
$653,047,178
Rockefeller University
New York, NY
$535,346,959
The New School
New York, NY
$558,997,855
Hofstra University
Hempstead, NY
$606,887,297
American University Of Beirut
New York, NY
$608,300,843
Quinnipiac University
Hamden, CT
$531,949,834
Brandeis University
Waltham, MA
$399,602,478
Johnson & Wales University
Providence, RI
$403,272,641
Bar Ilan University In Israel
New York, NY
$462,229,998

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