Downtown New Bedford Inc
- Assets
- $10.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New Bedford, MA
- Founding
- 10/1994
- Data as of
- 12/2022
- EIN
- 04-3232379
Organization Overview
Downtown New Bedford Inc is located in New Bedford, MA. The organization was established in 1994. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown New Bedford 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 12/2022, Downtown New Bedford Inc generated $23.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (21.2%) each year. All expenses for the organization totaled $30.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (18.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO PROMOTE THE HISTORIC PRESERVATION, PROTECTION AND USE OF THE NEW BEDFORD, MA TRADITIONAL DOWNTOWN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Kidder Treasurer | 1 | $0 | |
Jill W White Director | 1 | $0 | |
Laura Grimes Clerk | 1 | $0 | |
Jason Lanagan Director | 1 | $0 | |
Shelly Perry Director | 1 | $0 | |
Nathan Vaughan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,780 |
| Total Program Service Revenue | $9,750 |
| Membership dues | $0 |
| Investment income | $6 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,280 |
| Total Revenue | $23,816 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,870 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $28,759 |
| Total expenses | $30,629 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $10,381 |
| Other assets | $0 |
| Total assets | $10,381 |
| Total liabilities | $0 |
| Net assets or fund balances | $10,381 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Downtown New Bedford Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
New Bedford Economic Development Council Inc New Bedford, MA PURPOSE: ECONOMIC DEVELOPMENT SUPPORT | $15,000 |
New Bedford Economic Development Council Inc New Bedford, MA PURPOSE: ECONOMIC DEVELOPMENT SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |