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Nonprofiteer
← BRIDGEPORT NEIGHBORHOOD TRUST INC

Form 990 for tax year 2024

Filed by BRIDGEPORT NEIGHBORHOOD TRUST INC.

Totals

Total revenue
$1,865,304
Total expenses
$1,725,529
Contributions and grants received
$1,493,335
Grants paid
$0
Program service revenue
$288,455
Investment income
$253
Other revenue
$83,261
Total assets, end of year
$3,054,229
Total liabilities, end of year
$729,621
Net assets or fund balances, end of year
$2,324,608
Program services expenses (Part IX)
$858,748
Management and general expenses
$866,781
Fundraising expenses
$0
Program service expenses (Part III)
$858,748

Program services were 49.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $108,052

  • 1e · Government grants (contributions)

    $239,610

  • 1f · All other contributions, gifts and grants

    $1,145,673

  • 2a · Program service revenue: HOMEOWNERSHIP

    total $204,581 · related or exempt $204,581

  • 2b · Program service revenue: RENTAL INCOME

    total $83,874 · related or exempt $83,874

  • 3 · Investment income

    total $253 · excluded $253

  • 8a · Fundraising events: gross income

    $20,070

  • 8a · Fundraising events: contributions included on line 1c

    $108,052

  • 8b · Fundraising events: direct expenses

    $26,752

  • 8c · Net income from fundraising events

    total -$6,682 · excluded -$6,682

  • 11a · Other revenue: OTHER REVENUE

    total $89,943 · excluded $89,943

  • 11e · Other revenue, total

    $89,943

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $217,572 · program services $53,529 · management and general $164,043

  • 7 · Other salaries and wages

    total $564,982 · program services $424,717 · management and general $140,265

  • 8 · Pension plan contributions

    total $21,230 · program services $14,022 · management and general $7,208

  • 9 · Other employee benefits

    total $124,258 · management and general $124,258

  • 10 · Payroll taxes

    total $70,076 · program services $34,991 · management and general $35,085

  • 11a · Fees: management

    total $15,628 · program services $15,614 · management and general $14

  • 11b · Fees: legal

    total $11,747 · program services $1,216 · management and general $10,531

  • 11c · Fees: accounting

    total $189,357 · management and general $189,357

  • 11g · Fees: other

    total $88,388 · program services $35,044 · management and general $53,344

  • 13 · Office expenses

    total $52,903 · program services $28,962 · management and general $23,941

  • 16 · Occupancy

    total $35,206 · program services $22,212 · management and general $12,994

  • 19 · Conferences, conventions and meetings

    total $19,515 · program services $13,534 · management and general $5,981

  • 20 · Interest

    total $16,021 · program services $4,199 · management and general $11,822

  • 22 · Depreciation, depletion and amortization

    total $31,091 · program services $31,091

  • 23 · Insurance

    total $83,285 · program services $10,879 · management and general $72,406

  • 24a · Other expenses: REAL ESTATE TAXES

    total $168,738 · program services $168,738

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $15,532 · management and general $15,532

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,422,054 · end of year $1,173,606

  • 3 · Pledges and grants receivable

    beginning of year $38,918 · end of year $144,188

  • 9 · Prepaid expenses and deferred charges

    beginning of year $217,424 · end of year $27,992

  • 10a · Land, buildings and equipment: cost or other basis

    $589,849

  • 10b · Land, buildings and equipment: accumulated depreciation

    $249,701

  • 10c · Land, buildings and equipment, net

    beginning of year $548,840 · end of year $340,148

  • 12 · Investments: other securities

    beginning of year $100

  • 15 · Other assets

    beginning of year $2,613,900 · end of year $1,368,295

  • 17 · Accounts payable and accrued expenses

    beginning of year $629,447 · end of year $254,404

  • 23 · Secured mortgages and notes payable

    beginning of year $377,409 · end of year $205,177

  • 25 · Other liabilities

    beginning of year $463,973 · end of year $270,040

  • 27 · Net assets without donor restrictions

    beginning of year $3,006,463 · end of year $2,274,608

  • 28 · Net assets with donor restrictions

    beginning of year $363,944 · end of year $50,000

Mission and programs · 2024

Mission

FOUNDED IN 1986, BUILDING NEIGHBORHOODS TOGETHER'S (BNT) MISSION IS TO END HOUSING INSECURITY, INCOME INEQUALITY, AND HOMELESSNESS BY CREATING SAFE, AFFORDABLE HOUSING, AND PROVIDING COMPREHENSIVE HOUSING AND FINANCIAL COUNSELING SERVICES TO LOW- AND MODERATE-INCOME FAMILIES ACROSS CONNECTICUT.

Activities or mission (Part I)

FOUNDED IN 1986, BUILDING NEIGHBORHOODS TOGETHER'S (BNT) MISSION IS TO END HOUSING INSECURITY, INCOME INEQUALITY AND HOMELESSNESS BY CREATING SAFE, AFFORDABLE HOUSING, AND PROVIDING COMPREHENSIVE HOUSING AND FINANCIAL COUNSELING SERVICES TO LOW- AND MODERATE-INCOME FAMILIES ACROSS CONNECTICUT.

  • PROPERTY MANAGEMENT - REPRESENTS ALL MANAGEMENT ACTIVITIES FOR OPERATING PROPERTIES. BNT IS THE SINGLE MEMBER OF 6 LIMITED LIABILITY COMPANIES ORGANIZED TO ACQUIRE, DEVELOP AND OPERATE AFFORDABLE HOUSING IN BRIDGEPORT, CONNECTICUT.

    Expenses $189,006 · Revenue $83,874

  • HOUSING DEVELOPMENT - FOCUSES ON THE BUILDING AND RENOVATION OF QUALITY AFFORDABLE HOMES AND APARTMENTS THAT PROVIDE NEW HOUSING OPPORTUNIES FOR FAMILIES WITH LOW-AND MODERATE-INCOME LEVELS THROUGHOUT THE STATE OF CONNECTICUT.

    Expenses $126,787

  • EMPOWERMENT RESOURCE ACADEMY ('ERA") - PROVIDES EDUCATION TO ACHIEVE SELF-SUFFICIENCY, BUILD WEALTH AND MAINTAIN FINANCIAL STABILITY. ERA PROVIDES PRE-PURCHASE COUNSELING AND EDUCATION, AND FORECLOSURE PREVENTION SERVICES. SERVICES INCLUDE RENTAL COUNSELING AND EVICTION PREVENTION, MOBILITY COUNSELING AND RESIDENT ENGAGEMENT AND EMPOWERMENT SERVICES THROUGHOUT THE STATE OF CONNECTICUT.

    Expenses $542,955 · Revenue $204,581

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TERENCE FLOYD

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JENITA HAYES

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    2

  • CAROL J HELLER

    BOARD SECRETARY (UNTIL 10/24)

    Total calculated
    $0
    Hours/week
    2

  • CHARLES G BRELAND

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KEVIN MOORE

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DAVID REYES

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • REGINA VERMONT

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CYNTHIA LUCERO

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KIRINA GAIR MCMICHAEL

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CHIP PARRISH

    BOARD PRESIDENT (UNTIL 03/24)

    Total calculated
    $0
    Hours/week
    2

  • DORIS LATORRE

    CEO

    Total calculated
    $221,196
    From this org
    $175,050
    From related orgs
    $0
    Other
    $46,146
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,550
    Bonus
    $500
    Other
    $0
    Deferred
    $3,381
    Nontaxable benefits
    $42,765
    Filer's total
    $221,196

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
9 April 2026
IRS schema version
2024v5.5
Source object
202621059349300322

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