Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 23-7374878

BRIDGEPORT ECONOMIC DEVELOPMENT CORP

Tax-exempt · BRIDGEPORT, CT 06604

Financials

$247K$760K2023$1.2M$1.4M2024
Revenue Expenses · by fiscal year end
Financials of BRIDGEPORT ECONOMIC DEVELOPMENT CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,158,760$1,388,654-$229,894$1,641,430$500,793$1,140,637
December 31, 2023990$246,966$759,981-$513,015$1,549,138$178,607$1,370,531
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$1,101,678
of which government grants
$1,086,028
Program service revenue
$13,625
Investment income
$43,455
Other revenue
$2

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$83,966
Salaries, compensation and benefits (total)
$83,966
Professional fundraising fees
$0
Program services (functional)
$1,351,574
Management and general (functional)
$37,080

Balance sheet and other

Total assets, start of year
$1,549,138
Total assets, end of year
$1,641,430
Total liabilities, end of year
$500,793
Net assets, end of year
$1,140,637
Net assets without donor restrictions
$204,175
Net assets with donor restrictions
$936,462
Gross receipts
$1,158,760
Employees
0
Volunteers
0
Year formed
1974
State of legal domicile
CT

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationFrom related orgs
EDWARD LAVERNOICHPRESIDENT AND SECRETARY
Trustee or director, Officer
25$0$83,966
MAUREEN FUNKEBOARD MEMBER
Trustee or director
1$0$0
CAROLYN GONZALEZBOARD MEMBER
Trustee or director
1$0$0
WILLIAM COLEMANBOARD MEMBER
Trustee or director
1$0$0
ANDRE BAKERBOARD MEMBER
Trustee or director
1$0$0
JOHN BUNDSCHUHBOARD MEMBER
Trustee or director
1$0$0
CHARLES SCOTTBOARD MEMBER
Trustee or director
1$0$0
GEORGE ESTRADAVICE CHAIR
Trustee or director, Officer
1$0$0
ALBERT CARBONEBOARD MEMBER
Trustee or director
1$0$0
PAUL TIMPANELLITREASURER
Trustee or director, Officer
1$0$0
DAVID LEVINEBOARD CHAIR
Trustee or director, Officer
1$0$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensationFrom related orgs
EDWARD LAVERNOICHPRESIDENT AND SECRETARY
Trustee or director, Officer
25$0$83,966
MAUREEN FUNKEBOARD MEMBER
Trustee or director
1$0$0
CAROLYN GONZALEZBOARD MEMBER
Trustee or director
1$0$0
WILLIAM COLEMANBOARD MEMBER
Trustee or director
1$0$0
ANDRE BAKERBOARD MEMBER
Trustee or director
1$0$0
JOHN BUNDSCHUHBOARD MEMBER
Trustee or director
1$0$0
CHARLES SCOTTBOARD MEMBER
Trustee or director
1$0$0
GEORGE ESTRADAVICE CHAIR
Trustee or director, Officer
1$0$0
ALBERT CARBONEBOARD MEMBER
Trustee or director
1$0$0
JANENE HAWKINSBOARD MEMBER
Trustee or director
1$0$0
PAUL TIMPANELLITREASURER
Trustee or director, Officer
1$0$0
DAVID LEVINEBOARD CHAIR
Trustee or director, Officer
1$0$0

Address and contacts

Address (IRS master file)
10 MIDDLE STREET-14TH FL, BRIDGEPORT, CT 06604-4257
Principal officer (990 for 2024)
EDWARD LAVERNOICH, 10 MIDDLE STREET 14TH FLOOR, BRIDGEPORT, CT 06604
Signed the 990
EDWARD LAVERNOICH, PRESIDENT
Phone
(203) 335-3800
Return prepared by
BAKER TILLY ADVISORY GROUP LP

Mission

IS A COMMUNITY BASED ORGANIZATION THAT DEVELOPS AND MANAGES PROGRAMS AND PROJECTS THAT FOSTER BUSINESS DEVELOPMENT, COMMUNITY REINVESTMENT, AND NEIGHBORHOOD REVITALIZATION. BEDCO WORKS COLLABORATIVELY TO SERVE THE BUSINESS COMMUNITY, NEIGHBORHOOD ORGANIZATIONS, AND THE PUBLIC SECTOR FOR THE BENEFIT OF THE BRIDGEPORT ECONOMIC REGION. THE MAJORITY OF BEDCO REVENUES RESULT FROM THE ADMINISTRATION OF BRIDGEPORT AREA INDUSTRIAL AND COMMERCIAL DEVELOPMENT PROJECTS AND RELATED ECONOMIC DEVELOPMENT STUDIES. THE MAJOR SERVICES BEDCO PROVIDES ARE SITE ACQUISITION, SITE ASSEMBLY, REMEDIATION OF ENVIRONMENTALLY CONTAMINATED PROPERTY, AND INFRASTRUCTURE DEVELOPMENT, AND OTHER ACTIVITIES ASSOCIATED WITH REMOVING IMPEDIMENTS TO NEW PRIVATE INVESTMENT.

990 for the year ended December 31, 2024

Program accomplishments

  • COMMUNITY ENVIRONMENTAL BENEFIT AGREEMENT FOR FISCAL MANAGEMENT OF THE COMMUNITY ENVIRONMENTAL BENEFIT FUND WHICH WAS ESTABLISHED WITH FUNDING FROM PSEG.
    Expenses $229,561 · revenue $36,445
  • CULTURAL GRANT - TO REIMBURSE AND FUND EXPENDITURES MADE IN HISPANIC CULTURAL EVENTS IN TEN CITIES ACROSS CONNECTICUT.
    Expenses $178,650 · revenue $170,884
  • BOSTWICK PHASE IV - PROGRAM TO PASS FUNDS THROUGH TO BOSTWICK PARTNERS, LLC TO BE USED IN ACCORDANCE WITH THE DEPARTMENT OF ENERGY AND ENVIRONMENTAL PROTECTION URBAN SITES REMEDIAL ACTION PROGRAM FOR THE ABATEMENT, REMEDIATION AND ASSOCIATION STABALIZATION OF HISTORICAL STRUCTURES.
    Expenses $725,010 · revenue $732,567
  • WEST END PARK PROJECT - PROJECT MANAGEMENT AGREEMENT WITH THE CITY OF BRIDGEPORT, CONNECTICUT TO PROVIDE ASSISTANCE TO THE WEST END INDUSTRIAL PARK PROJECT.
    Expenses $1,679
  • BEES & BLOSSOMS
    Expenses $2,350
  • EAST SIDE DAY 2024
    Expenses $2,320
  • SEAVIEW INDUSTRIAL PARK A PROJECT TO CONTINUE THE DEVELOPMENT OF THE INDUSTRIAL PARK AND THE SURROUNDING SEAVIEW AVENUE AREA.
    Expenses $3,359
  • BRIDGEPORT BRASS REDEVELOPMENT PLANNING PROJECT INTENDS TO CREATE A COMPREHENSIVE IMPLEMENTATION TO REMEDIATE AND REDEVELOP THE 22-ACRE BRASS PROJECT AREA, IN A COLLABERATIVE EFFORT BETWEEN BEDCO, THE CITY OF BRIDGEPORT, AND THE CONNECTICUT METROPOLITAN OF GOVERNORS.
    Expenses $1,679 · revenue $5,000
  • CHERRY PHASE III
    Expenses $2,519
  • CITYWIDE PLACE-MAKING INITIATIVE
    Expenses $173,512 · revenue $160,077
  • OTHER PROSPECTIVE PROJECTS
    Expenses $30,935

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-7374878
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1987
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,641,430
Income (IRS master file)
$1,158,760

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,158,760$1,388,654$1,641,430IRS
990December 2023$246,966$759,981$1,549,138XML
990December 2022$347,886$483,965$1,928,557IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7374878).

Questions about BRIDGEPORT ECONOMIC DEVELOPMENT CORP

What is the EIN of BRIDGEPORT ECONOMIC DEVELOPMENT CORP?
The employer identification number (EIN) of BRIDGEPORT ECONOMIC DEVELOPMENT CORP is 23-7374878.
Is BRIDGEPORT ECONOMIC DEVELOPMENT CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
Are donations to BRIDGEPORT ECONOMIC DEVELOPMENT CORP tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BRIDGEPORT ECONOMIC DEVELOPMENT CORP file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BRIDGEPORT ECONOMIC DEVELOPMENT CORP due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BRIDGEPORT ECONOMIC DEVELOPMENT CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of BRIDGEPORT ECONOMIC DEVELOPMENT CORP?
The 990 for the year ended December 31, 2024 names EDWARD LAVERNOICH.
Who are the officers and directors of BRIDGEPORT ECONOMIC DEVELOPMENT CORP?
The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
How much revenue does BRIDGEPORT ECONOMIC DEVELOPMENT CORP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,158,760, expenses of $1,388,654 and total assets of $1,641,430 at year end.

Other nonprofits in BRIDGEPORT

All nonprofits in BRIDGEPORT · Connecticut