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New Bedford Economic Development Council Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn’t provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Public, Society Benefit — Multipurpose and Other / Government and Public Administration (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$3.38M (2023)

Expenses
$4.3M (2023)

Total Assets
$5.6M (2023)

Total Liabilities
$1.47M (2023)

Source: Form 990 tax filings from 2012 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,383,460
Expenses
$4,299,183
Net Income
-$915,723
Net Assets
$4,124,578
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,125,242
92.4%
Program Services $246,743
7.3%
Investment Income $11,475
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $211,421
4.9%
Professional Fundraising Fees $0
Other Salaries and Wages $487,719
11.3%
Assets/Debt
Total Assets $5,597,517
Total Liabilities $1,472,939
Net Assets $4,124,578
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $167,754 $0 $35,013
Ramon Silva (Sr Director Lending) $139,073 $0 $16,156
Deborah Trombly (Controller) $115,852 $0 $10,426
Anthony R Sapienza (President) $0 $0 $0
Elizabeth Isherwood (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0
Helena Dasilva Hughes (Director) $0 $0 $0
Laura Douglas (Director) $0 $0 $0
Dr Rayford Kruger (Director) $0 $0 $0
Jonathan M Mitchell (Mayor Ex Officio (Until 2/23)) $0 $0 $0
Jeffrey P Pagliuca (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,890,059
Expenses
$2,008,196
Net Income
$881,863
Net Assets
$5,040,301
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,620,679
90.7%
Program Services $268,117
9.3%
Investment Income $1,263
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $196,773
9.8%
Professional Fundraising Fees $0
Other Salaries and Wages $400,089
19.9%
Assets/Debt
Total Assets $6,271,809
Total Liabilities $1,231,508
Net Assets $5,040,301
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $161,602 $0 $15,927
Ramon D Silva (Sr Director Lending) $131,287 $0 $9,488
Deborah A Trombly (Controller) $107,961 $0 $9,638
Anthony R Sapienza (President) $0 $0 $0
Elizabeth Isherwood (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Helena Dasilva Hughes (Director) $0 $0 $0
Laura Douglas (Director) $0 $0 $0
Keith Hovan (Outgoing Director) $0 $0 $0
John Vasconcellos (Outgoing Director) $0 $0 $0
Jeffrey P Pagliuca (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,421,458
Expenses
$1,771,112
Net Income
$650,346
Net Assets
$4,158,438
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,160,634
89.2%
Program Services $259,492
10.7%
Investment Income $1,332
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $197,193
11.1%
Professional Fundraising Fees $0
Other Salaries and Wages $384,915
21.7%
Assets/Debt
Total Assets $5,015,436
Total Liabilities $856,998
Net Assets $4,158,438
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $160,419 $0 $30,073
Ramon D Silva (Loan Officer) $122,618 $0 $12,315
Deborah A Trombly (Controller) $104,698 $0 $17,228
Anthony R Sapienza (President) $0 $0 $0
Elizabeth Isherwood (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Helena Dasilva Hughes (Director) $0 $0 $0
Laura Douglas (Director) $0 $0 $0
Keith Hovan (Director) $0 $0 $0
John Vasconcellos (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,273,044
Expenses
$1,267,294
Net Income
$5,750
Net Assets
$3,508,092
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,027,002
80.7%
Program Services $242,804
19.1%
Investment Income $3,238
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $187,330
14.8%
Professional Fundraising Fees $0
Other Salaries and Wages $357,804
28.2%
Assets/Debt
Total Assets $4,424,515
Total Liabilities $916,423
Net Assets $3,508,092
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $152,241 $0 $22,790
Ramon D Silva (Loan Officer) $106,134 $0 $10,953
Helena Dasilva Hughes (Director) $0 $0 $0
Keith Hovan (Director) $0 $0 $0
John Vasconcellos (Director) $0 $0 $0
Laura Douglas (Director) $0 $0 $0
Steven Kenyon (Past Director) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Anthony R Sapienza (President) $0 $0 $0
Elizabeth Isherwood (Vice President) $0 $0 $0
Joseph Nauman (Past Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,215,666
Expenses
$1,203,724
Net Income
$11,942
Net Assets
$3,502,342
Notable Sources of Revenue Percent of Total Revenue
Contributions $887,988
73.0%
Program Services $314,674
25.9%
Investment Income $2,504
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $10,500
0.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $181,792
15.1%
Professional Fundraising Fees $0
Other Salaries and Wages $341,626
28.4%
Assets/Debt
Total Assets $4,374,786
Total Liabilities $872,444
Net Assets $3,502,342
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $146,238 $0 $22,351
Ramon D Silva (Loan Officer) $106,918 $0 $10,627
Helena Dasilva Hughes (Director) $0 $0 $0
Elizabeth Isherwood (Director) $0 $0 $0
John Vasconcellos (Director) $0 $0 $0
Steven Kenyon (Director) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,234,881
Expenses
$1,225,198
Net Income
$9,683
Net Assets
$3,490,400
Notable Sources of Revenue Percent of Total Revenue
Contributions $851,941
69.0%
Program Services $375,297
30.4%
Investment Income $893
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $6,750
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $176,251
14.4%
Professional Fundraising Fees $0
Other Salaries and Wages $337,527
27.5%
Assets/Debt
Total Assets $4,485,919
Total Liabilities $995,519
Net Assets $3,490,400
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $145,135 $0 $22,873
Ramon D Silva (Loan Officer) $103,572 $0 $10,406
Helena Dasilva Hughes (Director) $0 $0 $0
Elizabeth Isherwood Moore (Director) $0 $0 $0
John Vasconcellos (Director) $0 $0 $0
Steven Kenyon (Director) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$999,457
Expenses
$990,284
Net Income
$9,173
Net Assets
$3,480,717
Notable Sources of Revenue Percent of Total Revenue
Contributions $660,596
66.1%
Program Services $331,544
33.2%
Investment Income $917
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $6,400
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $176,036
17.8%
Professional Fundraising Fees $0
Other Salaries and Wages $334,092
33.7%
Assets/Debt
Total Assets $4,623,547
Total Liabilities $1,142,830
Net Assets $3,480,717
Compensation
Key Employees and Officers Compensation Related Other
Derek Santos (Executive Director) $134,466 $0 $23,344
Ramon D Silva (Loan Officer) $102,050 $0 $8,668
Craig Dutra (Past Director) $0 $0 $0
Paul L Vigeant (Past Director) $0 $0 $0
Helena Dasilva Hughes (Director) $0 $0 $0
Elizabeth Isherwood Moore (Director) $0 $0 $0
John Vasconcellos (Director) $0 $0 $0
Steven Kenyon (Director) $0 $0 $0
Jonathan F Mitchell (Mayor Ex Officio) $0 $0 $0
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimental (Clerk) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,512,972
Expenses
$1,489,738
Net Income
$23,234
Net Assets
$3,471,544
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,149,391
76.0%
Program Services $362,212
23.9%
Investment Income $969
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $400
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $478,672
32.1%
Assets/Debt
Total Assets $5,205,757
Total Liabilities $1,734,213
Net Assets $3,471,544
Compensation
Key Employees and Officers Compensation Related Other
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimentel (Clerk) $0 $0 $0
Craig Dutra (Director) $0 $0 $0
Helena Da Silva Hughes (Director) $0 $0 $0
Paul L Vigeant (Director) $0 $0 $0
Elizabeth Isherwood Moore (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,811,658
Expenses
$1,782,509
Net Income
$29,149
Net Assets
$3,448,310
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,463,594
80.8%
Program Services $347,240
19.2%
Investment Income $624
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $200
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $471,693
26.5%
Assets/Debt
Total Assets $5,344,440
Total Liabilities $1,896,130
Net Assets $3,448,310
Compensation
Key Employees and Officers Compensation Related Other
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimentel (Clerk) $0 $0 $0
Craig Dutra (Director) $0 $0 $0
Helena Da Silva Hughes (Director) $0 $0 $0
Paul L Vigeant (Director) $0 $0 $0
Elizabeth Isherwood Moore (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,420,033
Expenses
$1,412,374
Net Income
$7,659
Net Assets
$3,419,161
Notable Sources of Revenue Percent of Total Revenue
Contributions $914,165
64.4%
Program Services $503,672
35.5%
Investment Income $696
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,500
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $499,524
35.4%
Assets/Debt
Total Assets $5,421,533
Total Liabilities $2,002,372
Net Assets $3,419,161
Compensation
Key Employees and Officers Compensation Related Other
Anthony R Sapienza (President) $0 $0 $0
Joseph Nauman (Vice President) $0 $0 $0
David Slutz (Treasurer) $0 $0 $0
Carol Pimentel (Clerk) $0 $0 $0
Craig Dutra (Director) $0 $0 $0
Helena Da Silva Hughes (Director) $0 $0 $0
Paul L Vigeant (Director) $0 $0 $0
Peter Selley (Director) $0 $0 $0
Barbara Grunkemeyer (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,247,639
Expenses
$1,241,765
Net Income
$5,874
Net Assets
$3,411,502
Notable Sources of Revenue Percent of Total Revenue
Contributions $718,473
57.6%
Program Services $442,726
35.5%
Investment Income $906
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $85,534
6.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $221,899
17.9%
Professional Fundraising Fees $0
Other Salaries and Wages $280,033
22.6%
Assets/Debt
Total Assets $5,879,308
Total Liabilities $2,467,806
Net Assets $3,411,502

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,002,745
Expenses
$1,217,915
Net Income
-$215,170
Net Assets
$3,405,628
Notable Sources of Revenue Percent of Total Revenue
Contributions $519,923
51.8%
Program Services $472,365
47.1%
Investment Income $1,542
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $8,915
0.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $201,093
16.5%
Professional Fundraising Fees $0
Other Salaries and Wages $244,078
20.0%
Assets/Debt
Total Assets $5,699,924
Total Liabilities $2,294,296
Net Assets $3,405,628

Document Links

Fiscal Year Ending June
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

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