New Bedford Economic Development
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.
Key facts about New Bedford Economic Development
- EIN
- 04-3244024
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,018,050
- Grants made (2024)
- 63
- Average grant
- $16,160
- Median grant
- $20,000
- New grantees (estimate)
- 86% first-time grantees (54 of 63, 2024)
- Total assets
- $5,744,138
- Primary geography
- Massachusetts (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who New Bedford Economic Development funds
By grant dollars, the top recipient states for New Bedford Economic Development's 63 itemized 2024 grants were Massachusetts (100%). The most frequent recipient cities were New Bedford, MA (56 grants) and Fall River, MA (2 grants). None of its 63 grants with a stated purpose were described as general or operating support. Recurring purposes include "Economic Development Support" (63 grants).
Is New Bedford Economic Development open to new grantees?
86%
first-time grantees, 2024
In 2024, 54 of 63 grantees (86%) were first-time recipients. First grants averaged $16K; repeat grants $20K. How we count
Medians: $20K first-time, $20K repeat.
Estimate from itemized IRS Form 990-PF grant lists (2021–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with New Bedford Economic Development
- How to evaluate New Bedford Economic Development as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to New Bedford Economic Development with AI
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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
Ready to take the next step with New Bedford Economic Development?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 63 itemized 2024 grant dollars.
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 | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
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
173 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 recipients include Bristol Community College ($34,000), Cape Verdean Association ($25,700), Co-Creative Center Inc ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BRISTOL COMMUNITY COLLEGE Fall River, MA | ECONOMIC DEVELOPMENT SUPPORT | $34,000 |
| CAPE VERDEAN ASSOCIATION New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $25,700 |
| CO-CREATIVE CENTER INC New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $25,000 |
| E FOR ALL Lowell, MA | ECONOMIC DEVELOPMENT SUPPORT | $25,000 |
| JUNIOR ACHIEVEMENT New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $25,000 |
| ALISON WELLS FINE ART STUDIO AND GALLERY New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| AYSIN & ALIJAH ALLSTARS DBA SOUTHCOAST STORM New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| BAYLINE INC New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| BOAT JIM DANDY INC New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
| CARTER'S OF NEW BEDFORD INC New Bedford, MA | ECONOMIC DEVELOPMENT SUPPORT | $20,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS 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 September 2026. Sourced from IRS Form 990-PF filings.