Bridgeport Economic Development Corp
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $1.2 million
- Spending
- $1.4 million
- Spent on programs
- 97%
- Reserves
- 1.8 months of spending
- Largest source of income
- government grants, 94%
- Employees
- 0
- Volunteers
- 0
- Highest pay
- $83,966, president and secretary
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 50 out of 100.
Reserves
10 of 35Spendable reserves would cover 1.8 months of spending.
Debt
10 of 20It owes 31% of what it owns.
Living within its means
0 of 15Spending exceeded income by 20% of income.
Income trend
15 of 15Income rose 369% on the year before.
Spending floor
15 of 1597% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 72 out of 100.
Independent board
25 of 2510 of 11 voting board members are independent.
Conflict of interest policy
0 of 15Reports no written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (11)
- $229,561 spent. COMMUNITY ENVIRONMENTAL BENEFIT AGREEMENT FOR FISCAL MANAGEMENT OF THE COMMUNITY ENVIRONMENTAL BENEFIT FUND WHICH WAS ESTABLISHED WITH FUNDING FROM PSEG.
- $178,650 spent. CULTURAL GRANT - TO REIMBURSE AND FUND EXPENDITURES MADE IN HISPANIC CULTURAL EVENTS IN TEN CITIES ACROSS CONNECTICUT.
- $725,010 spent. 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.
- $1,679 spent. WEST END PARK PROJECT - PROJECT MANAGEMENT AGREEMENT WITH THE CITY OF BRIDGEPORT, CONNECTICUT TO PROVIDE ASSISTANCE TO THE WEST END INDUSTRIAL PARK PROJECT.
- $2,350 spent. BEES & BLOSSOMS
- $2,320 spent. EAST SIDE DAY 2024
- $3,359 spent. SEAVIEW INDUSTRIAL PARK A PROJECT TO CONTINUE THE DEVELOPMENT OF THE INDUSTRIAL PARK AND THE SURROUNDING SEAVIEW AVENUE AREA.
- $1,679 spent. 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.
- $2,519 spent. CHERRY PHASE III
- $173,512 spent. CITYWIDE PLACE-MAKING INITIATIVE
- $30,935 spent. OTHER PROSPECTIVE PROJECTS
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 1987.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.