New Bedford Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,370 | 120,479 | −119,109 | -21.6 | 7% |
| 2021 | 648 | 86,246 | −85,598 | -48.5 | 0% |
| 2022 | 312 | 100,148 | −99,836 | -53.8 | 0% |
| 2023 | 10,068 | 102,514 | −92,446 | -11.6 | 0% |
In its most recent public year (2023), this organization spent $92,446 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-11.6 months), up from -21.6 in 2020. Staff pay was 0% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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