New Bedford Economic Development Council Inc
New Bedford Economic Development Council Inc (NBEDC) is a public charity based in New Bedford, Massachusetts. It works with local, state, and federal partners to promote economic development and a business-friendly environment, supporting local businesses and entrepreneurs through financing and assistance with business and real estate development.
New Bedford Economic Development Council Inc at a glance
In short: New Bedford Economic Development Council Inc gave $396K across 29 grants in 2025 (avg $14K), mostly in Massachusetts. 93% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $395,528
- -61.1% vs 2024
- Grants made (2025)
- 29
- -54.0% vs 2024
- Average grant
- $13,639
- -15.6% vs 2024
- Median grant
- $10,000
- Total assets
- $7,075,280
- +23.2% vs 2024
- New grantees (estimate)
- 93% first-time grantees (27 of 29, 2025)
- Primary geography
- Massachusetts (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to New Bedford Economic Development Council Inc
- Contact
Mailing address: 1213 Purchase Street, New Bedford, MA 02740
Phone: (508) 991-3122
Website: https://nbedc.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from New Bedford Economic Development Council Inc
Who New Bedford Economic Development Council Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Dipper Cafe Associates LLC ($20K). Together the top 10 received $200K.
Grant Size Distribution
202 grants across all recorded years
The most common grant size was under $50K: 202 grants of 202 (100%).
Geographic Focus
Where this funder awards grants
NBEDC’s stated economic development work centers on the City of New Bedford. Its website describes lending programs for businesses in New Bedford, and all grants reported for filing year 2025 went to Massachusetts recipients.
Grant Distribution by State
Share of 2025 grant dollars across all 29 itemized grants.
Cities
Is New Bedford Economic Development Council Inc open to new grantees?
93%
first-time grantees, 2025
In 2025, 27 of 29 grantees (93%) were first-time recipients. First grants averaged $14K; repeat grants $14K. How we count
Medians: $10K first-time, $14K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $225K (2022) to $1.0M (2024). In 2025 it made 29 grants totaling $396K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Dipper Cafe Associates LLC New Bedford, MA | Economic Development Support | $20,000 |
| Golden Greek Restaurant - STEM Inc Dartmouth, MA | Economic Development Support | $20,000 |
| International C Food Inc Fall River, MA | Economic Development Support | $20,000 |
| Jalarm Inc New Bedford, MA | Economic Development Support | $20,000 |
| Kaisan Trucking New Bedford, MA | Economic Development Support | $20,000 |
| Knotty by Nature New Bedford, MA | Economic Development Support | $20,000 |
| Mathieu & Mathieu New Bedford, MA | Economic Development Support | $20,000 |
| Morton's Fork Catering New Bedford, MA | Economic Development Support | $20,000 |
| No Problemo New Bedford, MA | Economic Development Support | $20,000 |
| United Care Transport Inc New Bedford, MA | Economic Development Support | $20,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $7,075,280 | $2,686,841 | $2,446,944 | $395,528 | 29 | $8,464 |
| 2024 | $5,744,138 | $3,626,061 | $3,547,853 | $1,018,050 | 63 | $10,079 |
| 2023 | $5,597,517 | $3,383,460 | $4,299,183 | $935,290 | 55 | $11,475 |
| 2022 | $6,271,809 | $2,890,059 | $2,008,196 | $225,000 | 19 | $1,263 |
| 2021 | $5,015,436 | $2,421,458 | $1,771,112 | $373,460 | 36 | $1,332 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
NBEDC’s stated mission is to cultivate and promote a transparent, credible, and business-friendly environment, working with partners to support creativity, sustainable growth, and private-sector investment benefiting New Bedford residents.
Its stated activities include lending to eligible local businesses; helping companies with expansion plans and other business concerns; marketing the city to encourage investment; providing management and strategic development services for the New Bedford Quest Center for Innovation; and offering technical assistance for real estate development, including site selection, pre-planning, financing, and permitting.
The 2025 grants were reported for “economic development support.” Examples include grants to businesses such as Dipper Cafe Associates LLC, Golden Greek Restaurant - STEM Inc, and No Problemo. Southcoast Community Foundation Inc received $8,000 in 2025; the foundation describes its mission as “uniting people, organizations, and resources to strengthen our communities.”
Grantmaking
In filing year 2025, NBEDC reported 29 grants totaling $395,528. Grants ranged from $7,528 to $20,000, with a median of $10,000. All reported grant dollars went to recipients in Massachusetts. The largest reported awards were $20,000 each to Dipper Cafe Associates LLC, Golden Greek Restaurant - STEM Inc, International C Food Inc, Jalarm Inc, Kaisan Trucking, Knotty by Nature, Mathieu & Mathieu, Morton’s Fork Catering, No Problemo, United Care Transport Inc, and Vaz Construction. The stated purpose for each was economic development support.
The organization’s website describes lending products rather than setting out a current general grant application process. Its listed products include SBA microloans of $5,000–$50,000 for eligible small businesses and entrepreneurs, and commercial business loans of $50,000–$200,000 for businesses operating at least two years. The commercial loan program requires one low- or moderate-income job to be created or retained for every $35,000 borrowed. The website also describes development gap financing for small businesses working with a primary bank lender to acquire or develop owner-occupied real estate. SBA microloan proceeds cannot be used to pay existing debts or purchase real estate.
A 2022 announcement described NBForward! and NB100! as programs funded through city ARPA funding and the SBA Community Navigator Program. NBForward! was described as offering grants of up to $20,000 alongside matching loan financing and technical assistance. The announcement’s launch and application information dates to 2022 and is not a current application cycle. The filing states that grantees must submit invoices to the Council at least annually detailing qualifying expenditures for which they seek reimbursement.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Anthony R. Sapienza as president, Elizabeth Isherwood as vice president, David Slutz as treasurer, and Carol Pimentel as clerk. It also lists Helena Dasilva Hughes, Stephen Kenyon, Stephen Canessa, Melanie Edwards-Tavares, Roland Giroux, and David McCready as directors.
New Bedford Economic Development Council Inc is led by Derek Santos, Executive Director on every filing since 2021; 3 of 13 officers listed in 2025 are compensated.
Officers on the 2025 filing
Derek Santos
Executive Director
On filings since 2021
40 hrs/week
$160K (2021) → $183K (2025)
Anthony R. Sapienza
President
On filings since 2021
3 hrs/week
No compensation reported
Helena Dasilva Hughes
Director
On filings since 2021
1.5 hrs/week
No compensation reported
David McCready
Director
On filings since 2024
1.5 hrs/week
No compensation reported
Melanie Edwards-Tavares
Director
On filings since 2024
1.5 hrs/week
No compensation reported
Roland Giroux
Director
On filings since 2024
1.5 hrs/week
No compensation reported
Stephen Canessa
Director
New on the 2025 filing
1.5 hrs/week
No compensation reported
Stephen Kenyon
Director
New on the 2025 filing
1.5 hrs/week
No compensation reported
Deborah A. Trombly
Accountant
Controller → Accountant, 2024
On filings since 2021
40 hrs/week
$105K (2021) → $127K (2025)
Ramon D. Silva
Senior Lending Officer
Loan Officer → Senior Director - Lending, 2022
Senior Director - Lending → Senior Lending Officer, 2024
On filings since 2021
40 hrs/week
$123K (2021) → $149K (2025)
Carol Pimentel
Clerk
On filings since 2021
1 hr/week
No compensation reported
David Slutz
Treasurer
On filings since 2021
2.5 hrs/week
No compensation reported
Elizabeth Isherwood
Vice President
On filings since 2021
1.5 hrs/week
No compensation reported
Former officers (6)
- Former: Laura Douglas (2021–2024) — Director
- Former: Rayford Kruger (2023–2024) — Director
- Former: Jonathan M. Mitchell (2021–2023) — Mayor Ex-Officio
- Former: Jeffrey P. Pagliuca (2022–2023) — Director
- Former: John Vasconcellos (2021–2022) — Outgoing-Director
- Former: Keith Hovan (2021–2022) — Outgoing-Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $183K, to Derek Santos (Executive Director). 3 officers or directors reported compensation on that filing.
Frequently asked questions about New Bedford Economic Development Council Inc
How much does New Bedford Economic Development Council Inc give each year?
New Bedford Economic Development Council Inc gave $396K across 29 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $1.0M across 63 grants.
What is New Bedford Economic Development Council Inc's typical grant size?
New Bedford Economic Development Council Inc's median grant in 2025 was $10,000, and its average grant was $13,639, across 29 grants on its 2025 IRS Form 990. Organizations receiving their first grant from New Bedford Economic Development Council Inc that year got $14K on average.
Where does New Bedford Economic Development Council Inc give grants?
New Bedford Economic Development Council Inc gives mostly in Massachusetts: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were New Bedford, MA (24 grants) and Fairhaven, MA (2 grants).
Does New Bedford Economic Development Council Inc give general operating support?
Not in 2025: none of the 29 grants with a stated purpose on New Bedford Economic Development Council Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Economic Development Support" (29 grants).
Who are New Bedford Economic Development Council Inc's largest grantees?
New Bedford Economic Development Council Inc's largest 2025 grantees include Dipper Cafe Associates LLC ($20,000), Golden Greek Restaurant - STEM Inc ($20,000) and International C Food Inc ($20,000), according to its 2025 IRS Form 990. Together they received 15% of its itemized 2025 grant dollars.
How large is New Bedford Economic Development Council Inc?
New Bedford Economic Development Council Inc reported $7.1M in total assets on its 2025 IRS Form 990. Its revenue that year was $2.7M.
What does New Bedford Economic Development Council Inc fund?
NBEDC’s stated mission is to cultivate and promote a transparent, credible, and business-friendly environment, working with partners to support creativity, sustainable growth, and private-sector investment benefiting New Bedford residents. See mission & focus areas ↑
How do I apply for a grant from New Bedford Economic Development Council Inc?
New Bedford Economic Development Council Inc has no public application process in the sources Grantable reviewed. Check nbedc.org for current guidelines, or contact the foundation directly before submitting a request.
What is New Bedford Economic Development Council Inc's EIN?
New Bedford Economic Development Council Inc's EIN (Employer Identification Number) is 04-3244024. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS February 9, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS April 27, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 3, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 8, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2021–2024
Live grants for the work New Bedford Economic Development Council Inc funds
Public, Societal Benefit Open opportunities, soonest deadline first.
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Browse active grant opportunities in New Bedford Economic Development Council Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). New Bedford Economic Development Council Inc funder profile. GrantGraph. Retrieved October 22, 2026, from https://grantable.co/funders/new-bedford-economic-development-council-inc-morg_3d448977c40e4b65a974d0e1ccf5e177
BibTeX
@misc{grantable_043244024_2026,
author = {{Grantable}},
title = {{New Bedford Economic Development Council Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/new-bedford-economic-development-council-inc-morg_3d448977c40e4b65a974d0e1ccf5e177},
note = {Accessed 2026-10-22. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from New Bedford Economic Development Council Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
New Bedford Economic Development Council Inc down — hundreds of funders to go?