Form 990 for tax year 2023
Filed by BRIDGEPORT NEIGHBORHOOD TRUST INC.
Totals
- Total revenue
- $4,662,253
- Total expenses
- $3,952,576
- Contributions and grants received
- $1,438,394
- Grants paid
- $0
- Program service revenue
- $1,029,761
- Investment income
- $2,058,757
- Other revenue
- $135,341
- Total assets, end of year
- $4,841,236
- Total liabilities, end of year
- $1,470,829
- Net assets or fund balances, end of year
- $3,370,407
- Program services expenses (Part IX)
- $2,993,534
- Management and general expenses
- $959,042
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,993,534
Program services were 75.7% 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
$85,033
-
1e · Government grants (contributions)
$461,102
-
1f · All other contributions, gifts and grants
$892,259
-
2a · Program service revenue: RENTAL INCOME
total $1,029,761 · related or exempt $1,029,761
-
3 · Investment income
total $595 · excluded $595
-
7a · Gross sales of assets other than inventory
other assets $3,387,500
-
7b · Less cost or other basis and sales expenses
other assets $1,329,338
-
7c · Gain or loss
other assets $2,058,162
-
7d · Net gain or loss
total $2,058,162 · excluded $2,058,162
-
8a · Fundraising events: gross income
$13,993
-
8a · Fundraising events: contributions included on line 1c
$85,033
-
8b · Fundraising events: direct expenses
$38,050
-
8c · Net income from fundraising events
total -$24,057 · excluded -$24,057
-
11a · Other revenue: OTHER REVENUE
total $159,398 · related or exempt $159,398
-
11e · Other revenue, total
$159,398
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $195,118 · program services $97,559 · management and general $97,559
-
7 · Other salaries and wages
total $673,708 · program services $536,452 · management and general $137,256
-
8 · Pension plan contributions
total $18,843 · program services $13,501 · management and general $5,342
-
9 · Other employee benefits
total $152,321 · program services $121,304 · management and general $31,017
-
10 · Payroll taxes
total $48,524 · program services $32,026 · management and general $16,498
-
11b · Fees: legal
total $35,717 · management and general $35,717
-
11c · Fees: accounting
total $283,657 · management and general $283,657
-
11g · Fees: other
total $547,042 · program services $375,843 · management and general $171,199
-
12 · Advertising and promotion
total $20,267 · management and general $20,267
-
13 · Office expenses
total $176,255 · program services $130,490 · management and general $45,765
-
16 · Occupancy
total $257,904 · program services $179,980 · management and general $77,924
-
19 · Conferences, conventions and meetings
total $14,612 · program services $5,736 · management and general $8,876
-
20 · Interest
total $88,786 · program services $88,786
-
22 · Depreciation, depletion and amortization
total $649,971 · program services $649,971
-
23 · Insurance
total $422,317 · program services $395,195 · management and general $27,122
-
24a · Other expenses: BAD DEBTS
total $352,730 · program services $352,730
-
24b · Other expenses: MISCELLANEOUS
total $14,804 · program services $13,961 · management and general $843
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,157,118 · end of year $1,422,054
-
2 · Savings and temporary cash investments
beginning of year $375,737
-
3 · Pledges and grants receivable
beginning of year $48,982
-
4 · Accounts receivable
beginning of year $282,625 · end of year $38,918
-
9 · Prepaid expenses and deferred charges
end of year $217,424
-
10a · Land, buildings and equipment: cost or other basis
$737,805
-
10b · Land, buildings and equipment: accumulated depreciation
$188,965
-
10c · Land, buildings and equipment, net
beginning of year $176,983 · end of year $548,840
-
12 · Investments: other securities
beginning of year $100 · end of year $100
-
15 · Other assets
beginning of year $27,645,451 · end of year $2,613,900
-
17 · Accounts payable and accrued expenses
beginning of year $1,341,591 · end of year $629,447
-
23 · Secured mortgages and notes payable
beginning of year $9,517,652 · end of year $377,409
-
25 · Other liabilities
beginning of year $499,984 · end of year $463,973
-
27 · Net assets without donor restrictions
beginning of year $2,934,901 · end of year $3,006,463
-
28 · Net assets with donor restrictions
beginning of year $16,392,868 · end of year $363,944
Mission and programs · 2023
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.
-
PROPERTY MANAGEMENT - REPRESENTS ALL MANAGEMENT ACTIVITIES FOR OPERATING PROPERTIES. BNT IS THE SINGLE MEMBER OF 29 LIMITED LIABILITY COMPANIES ORGANIZED TO ACQUIRE, DEVELOP AND OPERATE AFFORDABLE HOUSING IN BRIDGEPORT, CONNECTICUT.
Expenses $2,261,169 · Revenue $1,189,159
-
HOUSING DEVELOPMENT - FOCUSES ON THE BUILDING AND RENOVATION OF QUALITY AFFORDABLE HOMES AND APARTMENTS THAT PROVIDE NEW HOUSING OPPORTUNITIES FOR FAMILIES WITH LOW- AND MODERATE-INCOME LEVELS THROUGHOUT THE STATE OF CONNECTICUT. DURING 2023, BNT CONTINUES TO WORK ON TWO MORE PROJECTS (SOUTH END COMMONS AND EAST MAIN STREET REDEVELOPMENT).
Expenses $202,401
-
EMPOWERMENT RESOURCE ACADEMY ("ERA") - PROVIDES EDUCATION TO FAMILIES 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. DURING 2023, ERA CONTINUED ASSISTING THE STATE OF CT WITH SOLICITATION, APPLICATION, PROCESSING, AND COUNSELING RELATED TO RESIDENT RENT RELIEF PROGRAMS RELATED TO COVID19.
Expenses $196,115
-
SOCIAL ENTERPRISE GROUP - PROVIDED GOODS AND SERVICES CURRENTLY NOT BEING OFFERED IN THE COMMUNITY AND JOBS WITH OWNERSHIP POTENTIAL THAT WILL PROVIDE ECONOMIC STABILITY.
Expenses $333,849
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
CHIP PARRISH
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
TERENCE FLOYD
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
DEBORAH CLANCY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CAROL J HELLER
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
DEBORAH CAVINESS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
CHARLES BRELAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JENITA HAYES
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
KEVIN MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
DAVID REYES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
REGINA VERMONT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
DORIS LATORRE
CEO
- Total calculated
- $195,118
- From this org
- $169,985
- From related orgs
- $0
- Other
- $25,133
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $169,985
- Bonus
- $0
- Other
- $0
- Deferred
- $6,656
- Nontaxable benefits
- $18,477
- Filer's total
- $195,118
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
The filer's explanations (Part III)
- PART I, LINE 3
- ANNUALLY, THE BOARD OF DIRECTORS MEET TO VOTE AND APPROVE THE CEO'S SALARY AND COMPENSATION.
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.
-
REAL ESTATE HOLDING · CT · income $43,790 · assets $1,593,131
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $111,515 · assets $1,429,789
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $0 · assets $114,809
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $25,938 · assets $708,048
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $9,000 · assets $948,537
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $22,670 · assets $229,145
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $446,650 · assets $9,211,029
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $38,450 · assets $959,550
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
GREGORY STREET DEVELOPMENT LLC
REAL ESTATE HOLDING · CT · income $0 · assets $0
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $0 · assets $66,661
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $40,363 · assets $651,698
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
SOUTH END COMMUNITY INITIATIVE PHASE III LLC
REAL ESTATE HOLDING · CT · income $39,644 · assets $594,255
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $97,678 · assets $1,182,370
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $521,909 · assets $7,062,775
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $583,767 · assets $12,257,641
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $12,949 · assets $439,779
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $0 · assets $0
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $0 · assets $0
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
REAL ESTATE HOLDING · CT · income $0 · assets $3,745,678
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
RENTAL OF AFFORDABLE HOUSING · CT · income $0 · assets $3,918,407
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
-
1059 PEMBROKE LLC
CT · income $0 · assets $12,500
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
OLDE SCHOOL COMMONS APARTMENTS LP
N/A · RENTAL OF AFFORDABLE HOUSING · CT
-
DOWNTOWN WEST GATE LIMITED PARTNERSHIP
N/A · DEVELOPMENT AND RENTAL OF AFFORDABLE HOUSING · CT
-
RENTS · AFFORDABLE HOUSING · CT · 75% owned · general or managing partner
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · DEVELOPMENT AND RENTAL OF AFFORDABLE HOUSING · CT · 75% owned · controlled entity
Directly controlled by BRIDGEPORT NEIGHBORHOOD TRUST
Assets distributed on this return
Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.
-
$15,956,809
Disposition · RENTAL PROPERTIES SOLD · Jun 30, 2023 · 501(C)(3)
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423209349319412
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