New Bedford Economic Development

Public benefit organization based in New Bedford, MA. 8 employees. Exempt under §501(c)(3).

MissionTO CULTIVATE AND PROMOTE A TRANSPARENT, CREDIBLE, AND BUSINESS-FRIENDLY ENVIRONMENT, THE NBEDC WORKS COLLABORATIVELY WITH LOCAL, STATE, AND FEDERAL PARTNERS TO SUPPORT CREATIVITY, SUSTAINABLE GROWTH, AND PRIVATE SECTOR INVESTMENT BENEFITING THE CITIZENS OF NEW BEDFORD.

EIN
04-3244024
State
MA
Sector
Public benefit
Budget band
$2.5M–$5M
Latest filing
TY 2023
Records
3 officers · 5 years

Financial snapshot · TY 2023

$3.6M
Total revenue
$3.5M
Total expenses
$5.7M
Net assets

Financial health · TY 2023

67
Moderate financial health
Composite score out of 100 based on reserve ratio, program efficiency, and revenue diversification.
Reserve ratio
53
9.6 months of expenses
Program efficiency
100
94.4% spent on programs
Revenue diversity
26
Mix of program fees, grants & contributions

Leadership compensation

Derek Santos
EXECUTIVE DIRECTOR
$198,267
63th percentile vs. peers
Ramon D Silva
SENIOR LENDING OFFICER
$169,470
64th percentile vs. peers
$126,565
100th percentile vs. peers

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New Bedford Economic Development Executive Compensation | 990 Data | DoubleNine