Overview
What is Bridgeport Economic Development Corp?
Bridgeport Economic Development Corporation (BEDCO) is a community-focused organization situated in Bridgeport, Connecticut. Its primary mission is to stimulate business growth, reinforce community investment, and revitalize neighborhoods within the Bridgeport economic region. BEDCO accomplishes this by collaborating with various sectors, including the business community, neighborhood organizations, and the public sector. The majority of its income stems from managing Bridgeport's industrial and commercial development projects and related economic studies. BEDCO's key services include site acquisition, site preparation, environmental property remediation, and infrastructure development, all aimed at facilitating private investment and overcoming obstacles to development.
Official website here: www.brbc.org
Is Bridgeport Economic Development Corp legitimate?
Bridgeport Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridgeport Economic Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $84,147
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Official website here: www.brbc.org
What is the mission statement of Bridgeport Economic Development Corp?
Bridgeport Economic Development Corp, functioning as a community-based organization, focuses on developing and managing programs and projects that promote business growth, community reinvestment, and neighborhood revitalization. It collaborates with various sectors, including the business community, neighborhood organizations, and the public sector, benefiting the local economic region. The majority of its revenue stems from administering industrial and commercial development projects in the area and related economic development studies. The primary services provided by Bridgeport Economic Development Corp include site acquisition, site assembly, remediation of environmentally contaminated property, and infrastructure development, all aimed at removing impediments to new private investment.
Official website here: www.brbc.org
Who is the CEO of Bridgeport Economic Development Corp?
Edward Lavernoich is the Board Member of Bridgeport Economic Development Corp.
Official website here: www.brbc.org
What is the revenue of Bridgeport Economic Development Corp?
Bridgeport Economic Development Corp's revenue in 2022 was $347,886.
Official website here: www.brbc.org
Who are the executives of Bridgeport Economic Development Corp and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.brbc.org
Where can I find the form 990 for Bridgeport Economic Development Corp?
Bridgeport Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.brbc.org
Learn more at the official website: www.brbc.org
Mission Statement of Bridgeport Economic Development Corp
Bridgeport Economic Development Corp, a community-based organization, is dedicated to fostering business development, community reinvestment, and neighborhood revitalization. This nonprofit collaborates with various sectors, including the business community, neighborhood organizations, and the public sector, to benefit the Bridgeport economic region. The majority of its revenue stems from the administration of Bridgeport area industrial and commercial development projects and related economic development studies.
The primary services offered by Bridgeport Economic Development Corp include site acquisition, site assembly, remediation of environmentally contaminated property, and infrastructure development. These activities are all geared towards eliminating obstacles that hinder new private investment. By providing these services, the organization contributes significantly to the economic growth and development of the community it serves.
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Impact
October, 2024
Bridgeport Economic Development Corp (BEDCO) plays a crucial role in fostering economic growth and community revitalization in the Bridgeport region. By developing and managing programs and projects that support business development, BEDCO enhances the local economy and improves the quality of life for residents.
The organization's efforts are focused on several key areas, including site acquisition and assembly, which facilitate the establishment and expansion of businesses. BEDCO's commitment to remediating environmentally contaminated properties not only addresses pressing environmental issues but also transforms these areas into viable sites for new investments. This remediation work is essential for attracting private sector investments that might otherwise be deterred by concerns over contamination.
Infrastructure development is another significant aspect of BEDCO's impact. By addressing infrastructural needs and improvements, the organization creates a more conducive environment for business operations, thereby driving economic activity. BEDCO collaborates with various stakeholders, including the business community, neighborhood organizations, and public sector entities, ensuring a collective effort in advancing the region's economic prosperity.
Furthermore, BEDCO administers economic development studies and manages projects funded by the Community Environmental Benefit Fund, established with funding from PSEG. This not only supports targeted investments but also enhances the sustainability of community initiatives, reinforcing the organization’s mission to promote comprehensive community improvement.
Overall, BEDCO serves as a catalyst for economic development, systematically removing barriers to investment and encouraging a thriving business ecosystem, ultimately benefitting the local community in Bridgeport, Connecticut.
This information is meant to be a general summary of Bridgeport Economic Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $1,900
- Gross Receipts: $347,886
Assets and Liabilities:
- Total Assets: $1,928,557
- Total Liabilities: $45,011
- Net Assets: $1,883,546
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FISCAL MANAGEMENT SVCS
Revenue
$1,900
Organization Details
Founding Year
1974
Phone
(203) 335-3800Principal Officer
Edward Lavernoich
Main Address
10 MIDDLE STREET-14TH FL, BRIDGEPORT, CT, 06601
Website
www.brbc.orgNTEE Category
Code: S30 - Community improvement
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