TO 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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$5.7M
+2.6% YoY
Annual Giving
$1.0M
+8.8% YoY
Grant Count
63
+14.5% YoY
Avg Grant Size
$16K
-5.0% YoY
About New Bedford Economic Development
Based on IRS filings
New Bedford Economic Development is a nonprofit organization focused on Public, Societal Benefit, based in NEW BEDFORD, MA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $5.7M in total assets. In 2024, it awarded 63 grants totaling $1.0M. Net investment income was $10K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $5,744,138 | $5,597,517 | $6,271,809 |
| Revenue | $3,626,061 | $3,383,460 | $2,890,059 |
| Expenses | $3,547,853 | $4,299,183 | $2,008,196 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $10,079 | $11,475 | $1,263 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
155 grants across all recorded years
Open Grants
1 open opportunity from New Bedford Economic Development
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Bristol Community College ($34,000), Cape Verdean Association ($25,700), Co-creative Center Inc ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AGILE HEALTH AND FITNESS NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $10,000 |
| ALDER & ALDER NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $10,000 |
| ALISON WELLS FINE ART STUDIO AND GALLERY NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| ARTEMIS CYCLERY LLC NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $10,000 |
| AVIARY BOOKS NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $10,000 |
| AYSIN & ALIJAH ALLSTARS DBA SOUTHCOAST STORM NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| BANNER AND BONE LLC NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $10,000 |
| BAYLINE INC NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| BOAT JIM DANDY INC NEW BEDFORD, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| BRISTOL COMMUNITY COLLEGE FALL RIVER, MA | ECONOMIC DEVELOPMENT SUPPORT | $34,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ANTHONY R SAPIENZA | PRESIDENT | 3 | — |
| ELIZABETH ISHERWOOD | VICE PRESIDENT | 1.5 | — |
| DAVID SLUTZ | TREASURER | 2.5 | — |
| CAROL PIMENTEL | CLERK | 1 | — |
| HELENA DASILVA HUGHES | DIRECTOR | 1.5 | — |
| LAURA DOUGLAS | DIRECTOR | 1.5 | — |
| DAVID MCCREADY | DIRECTOR | 1.5 | — |
| MELANIE EDWARDS-TAVARES | DIRECTOR | 1.5 | — |
| ROLAND GIROUX | DIRECTOR | 1.5 | — |
| DR RAYFORD KRUGER | DIRECTOR (UNTIL 10/2023) | 1.5 | — |
| DEREK SANTOS | EXECUTIVE DIRECTOR | 40 | $170,141 |
| RAMON D SILVA | SENIOR LENDING OFFICER | 40 | $144,388 |
| DEBORAH A TROMBLY | ACCOUNTANT | 40 | $120,886 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is New Bedford Economic Development?
New Bedford Economic Development is a nonprofit organization focused on Public, Societal Benefit, based in NEW BEDFORD, MA. It holds $5.7M in total assets as of 2024.
How large is New Bedford Economic Development?
As of 2024, New Bedford Economic Development holds $5.7M in total assets with $3.6M in annual revenue. It awarded 63 grants totaling $1.0M in 2024.
Where does New Bedford Economic Development operate?
New Bedford Economic Development has awarded grants in Massachusetts, New York, Rhode Island.
What size grants does New Bedford Economic Development award?
In 2024, New Bedford Economic Development awarded 63 grants totaling $1.0M — an average of about $16K per grant, based on its IRS Form 990 filings.
What is New Bedford Economic Development's EIN?
New Bedford Economic Development's EIN (Employer Identification Number) is 04-3244024. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in New Bedford Economic Development's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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