New Bedford Light
- Assets
- $1.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 13
- Location
- New Bedford, MA
- Founding
- Data as of
- 12/2022
- EIN
- 86-2407296
Organization Overview
New Bedford Light is located in New Bedford, MA. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, New Bedford Light employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Bedford Light 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, New Bedford Light generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 25.4% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE SEEK TO INFORM AND NOURISH THE CIVIC CULTURE OF NEW BEDFORD AND SURROUNDING TOWNS BY PROVIDING IN-DEPTH, FACT-BASED JOURNALISM AND A BROAD PLATFORM FOR DIVERSE COMMUNITY VOICES. THROUGH OUR INNOVATIVE JOURNALISM INCUBATOR PROJECT WE PROMOTE MEDIA LITERACY AND EDUCATE THE PUBLIC ABOUT THE VITAL ROLE OF A FREE PRESS IN BOLSTERING OUR DEMOCRACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSES OF THE CORPORATION ARE EXCLUSIVELY CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND/OR CULTURAL AS SET FORTH IN SECTION 501(C) (3) OF THE UNITED STATES INTERNAL REVENUE CODE (THE "CODE"), OR THE CORRESPONDING SECTION OF THE FUTURE FEDERAL TAX CODE. SPECIFICALLY, THE CORPORATION WILL CARRY OUT THESE PURPOSES WITH THE GOAL OF ENGAGING IN INVESTIGATIVE JOURNALISM, USING INSTITUTIONAL EXPERTISE TO RESEARCH AND EDUCATE THE PUBLIC ABOUT PARTICULAR TOPICS, AND PROVIDE THE PUBLIC WITH AN ONLINE NEWS OUTLET COVERING TOPICS IMPORTANT TO THE GREATER NEW BEDFORD AREA AND WHICH WILL BENEFIT THE COMMUNITY AS A WHOLE. IN CONNECTION WITH THESE PURPOSES, THE CORPORATION MAY COLLABORATE WITH GOVERNMENTAL ENTITIES AND/OR OTHER NON-PROFIT ORGANIZATIONS WHICH ARE QUALIFIED AS EXEMPT UNDER SECTION 501 (C)(3) OF THE CODE.
THROUGH OUR INNOVATIVE JOURNALISM INCUBATOR PROJECT WE PROMOTE MEDIA LITERACY AND EDUCATE THE PUBLIC ABOUT THE VITAL ROLE OF A FREE PRESS IN BOLSTERING OUR DEMOCRACY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Taylor President | OfficerTrustee | 40 | $0 |
Barbara Roessner Clerk | Officer | 40 | $97,147 |
Joel Alvord Treasurer | OfficerTrustee | $0 | |
Jeanne Costa Director | Trustee | $0 | |
Loretta Blake Director | Trustee | $0 | |
Lynne Delucia Millea Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,532,883 |
| Noncash contributions included in lines 1a–1f | $113,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,532,883 |
| Total Program Service Revenue | $0 |
| Investment income | $2,221 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $27,007 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,562,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $166,289 |
| Compensation of current officers, directors, key employees. | $69,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $415,268 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,397 |
| Payroll taxes | $47,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,280 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $322,355 |
| Advertising and promotion | $24,280 |
| Office expenses | $15,836 |
| Information technology | $52,720 |
| Royalties | $0 |
| Occupancy | $12,920 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,569 |
| Insurance | $4,997 |
| All other expenses | $13,947 |
| Total functional expenses | $1,132,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $731,096 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $242,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $18,315 |
| Investments—publicly traded securities | $298,534 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,052 |
| Total assets | $1,301,997 |
| Accounts payable and accrued expenses | $11,013 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,471 |
| Total liabilities | $47,484 |
| Net assets without donor restrictions | $955,583 |
| Net assets with donor restrictions | $298,930 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,301,997 |