Bridgeport Neighborhood Trust Inc

Organization Overview

Bridgeport Neighborhood Trust Inc is located in Bridgeport, CT. The organization was established in 1987. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Bridgeport Neighborhood Trust Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgeport Neighborhood Trust 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 12/2021, Bridgeport Neighborhood Trust Inc generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

BRIDGEPORT NEIGHBORHOOD TRUST WORKS TO END HOUSING INSECURITY, INCOME INEQUALITY AND HOMELESSNESS BY CREATING SAFE, AFFORDABLE HOUSING AND PROVIDING COMPREHENSIVE FINANCIAL AND HOUSING COUNSELING SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROPERTY MANAGEMENT - REPRESENTS ALL MANAGEMENT ACTIVITIES FOR OPERATING PROPERTIES. BNT IS THE SINGLE MEMBER OF 29 LIMITED LIABILITY COMPANIES ORGANIZED TO ACQUIRE, DEVELOP AND OPERATE AFFORDABLE HOUSING IN BRIDGEPORT, CONNECTICUT. AS OF DECEMBER 31, 2021, 238 APARTMENTS AND 20,000 SQUARE FEET OF COMMERCIAL SPACE ARE IN SERVICE.


HOUSING DEVELOPMENT - FOCUSES ON THE BUILDING AND RENOVATION OF QUALITY AFFORDABLE HOMES AND APARTMENTS THAT PROVIDE NEW HOUSING OPPORTUNITIES FOR FAMILIES WITH LOW AND MODERATE INCOME LEVELS. DURING 2021, BNT COMPLETED TWO PROJECTS, 273 WEST AVE (WEST LIBERTY COMMONS) AND 94 PARK TERRACE, 102 PARK TERRACE (PARK TERRACE HOMES) AND CONTINUED TWO WORK ON TWO MORE PROJECTS (SOUTH END COMMONS AND EAST MAIN STREET REDEVELOPMENT).


EMPOWERMENT RESOURCE ACADEMY ("ERA") - PROVIDES EDUCATION TO FAMILIES TO ACHIEVE SELF-SUFFICIENCY, BUILD WEALTH AND MAINTAIN FINANCIAL STABILITY. ERA PROVIDES PRE-PURCHASE COUNSELING AND EDUCATION, AND FORECLOSURE PREVENTION SERVICES. SERVICES INCLUDE RENTAL COUNSELING AND EVICTION PREVENTION, MOBILITY COUNSELING AND RESIDENT ENGAGEMENT AND EMPOWERMENT SERVICES. DURING 2021, ERA ALSO BEGAN ASSISTING THE STATE WITH SOLICITATION, APPLICATION, PROCESSING, AND COUNSELING RELATED TO RESIDENT RENT RELIEF PROGRAMS RELATED TO COVID19.


SOCIAL ENTERPRISE GROUP - PROVIDED GOODS AND SERVICES CURRENTLY NOT BEING OFFERED IN THE COMMUNITY AND JOBS WITH OWNERSHIP POTENTIAL THAT WILL PROVIDE ECONOMIC STABILITY.


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Board, Officers & Key Employees

Name (title)Compensation
Noah E Gotbaum
CEO (thru Nov. 2021)
$190,806
Doris Latorre
CEO (beg. Nov. 2021)
$108,410
Doran Wright
Trustee/vice President
$0
Steve Grathwohl
President (as Of 1/21)
$0
Carol J Heller
Trustee/secretary
$0
Deborah Clancy
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Core Construction
Construction
$809,537
Construction Management Systems Of Ameri
Construction
$249,067
G&s Restoration
Construction
$214,050
Tlc Services
Construction
$170,176
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$151,704
Related organizations$0
Government grants $521,175
All other contributions, gifts, grants, and similar amounts not included above$2,449,615
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,122,494
Total Program Service Revenue$2,408,303
Investment income $317
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $226,086
Net Income from Fundraising Events -$17,995
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,985,060

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Bridgeport Neighborhood Trust Inc has recieved totaling $5,000.

Awarding OrganizationAmount
Elizabeth And Joseph Massoud Family Foundation

Wilmington, DE

PURPOSE: CHARITABLE EVENT

$5,000
View Grant Recipient Profile

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