METROPOLITAN BRIDGEPORT INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1927

Legal Domicile

Principal Officer

JOHANNES VAN DER GIESSEN

Phone

2035764690

Tax Period

2023-07-01 to 2024-06-30

METROPOLITAN BRIDGEPORT INC, founded in 1927, is a micro nonprofit in the Education sector that reported $7K in total revenue in fiscal year 2023. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $530K exceeded revenue, resulting in a 7436% operating deficit.

Mission

METROPOLITAN BRIDGEPORT INC. CEASED PROVIDING EDUCATIONAL SERVICES (SEE SCHEDULE O)PRIOR TO THE SALE OF ITS ASSETS, METROPOLITAN BRIDGEPORT INC (FKA UNIVERSITY OF BRIDGEPORT) (THE UNIVERSITY) OFFERED CAREER ORIENTED UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES AND PROGRAMS FOR PEOPLE SEEKING PERSONAL AND PROFESSIONAL GROWTH. THE UNIVERSITY PROMOTED ACADEMIC EXCELLENCE, PERSONAL RESPONSIBILITY, AND COMMITMENT TO SERVICE. DISTINCTIVE CURRICULA IN AN INTERNATIONAL, CULTURALLY DIVERSE, SUPPORTIVE LEARNING ENVIRONMENT PREPARED GRADUATES FOR LIFE AND LEADERSHIP IN AN INCREASINGLY INTERCONNECTED WORLD. THE UNIVERSITY IS INDEPENDENT AND NON-SECTARIAN.

Program Service Accomplishments

Program 1

Expenses: $47,419

ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT SOLD SUBSTANTIALLY ALL OF ITS ASSETS TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC...

ON MAY 21, 2021, THE UNIVERSITY OF BRIDGEPORT SOLD SUBSTANTIALLY ALL OF ITS ASSETS TO GOODWIN UNIVERSITY INC. (GOODWIN), A CONNECTICUT NONSTOCK CORPORATION, THE NEW UNIVERSITY OF BRIDGEPORT, INC. (NEW UB), A CONNECTICUT NONSTOCK CORPORATION AND SUBSIDIARY OF GOODWIN UNIVERSITY, AND SOUND EDUCATION, LLC, (PAIER COLLEGE) A CONNECTICUT LIMITED LIABILITY COMPANY FORMED BY PAIER COLLEGE. (SEE SCHEDULE O)IN ORDER TO AVOID THE CONFUSION THAT THE NEW UNIVERSITY OF BRIDGEPORT AND THE UNIVERSITY OF BRIDGEPORT MIGHT CAUSE, AND TO EMPHASIZE THAT THE NEW UNIVERSITY OF BRIDGEPORT WOULD CONTINUE TO OFFER MOST OF THE PROGRAMS THAT THE UNIVERSITY OF BRIDGEPORT HAD OFFERED, THE UNIVERSITY OF BRIDGEPORT CHANGED ITS NAME TO METROPOLITAN BRIDGEPORT INC. ON JUNE 28, 2021.THE ONGOING MISSION OF METROPOLITAN BRIDGEPORT INC. CONSISTS OF THE CONDUCT OF WIND DOWN OPERATIONS THAT ARE THE RESPONSIBILITY OF OLD UB WHICH WERE NOT ASSUMED BY GOODWIN, INCLUSIVE OF PHASING OUT CERTAIN RETIREMENT PLANS, SETTLING CERTAIN LIABILITIES, PROCESSING AND PAYING UNEMPLOYMENT BENEFITS INCURRED BY EMPLOYEES OF OLD UB, ENSURING COMPLIANCE WITH CERTAIN TAX FILINGS, PHASING OUT OF REMAINING PERKINS LOANS, TRANSFERRING CONTRACTS THAT GOODWIN WILL MAINTAIN, AND TRANSFERRING NET ASSETS WITH DONOR RESTRICTIONS TO GOODWIN.PRIOR TO THE SALE, THE ORGANIZATION WAS AN INDEPENDENT AND NONSECTARIAN INTERNATIONAL ACADEMIC INSTITUTION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $4,566

Other Revenue $2,461

TOTAL REVENUE $7,027

Expense Breakdown

Grants Paid $0

Salaries & Benefits $102,675

Fundraising Expenses $0

Program Expenses $47,419

Other Expenses $426,883

TOTAL EXPENSES $529,558

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,027	$311,904	-1.0%
Expenses	$529,558	$1,321,845	-0.6%
Net Income	$-522,531	$-1,009,941	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$109,989

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT BERCHMAN	TRUSTEE	1.00	Director	$0	$0	$0
DAVID D'ADDARIO	TRUSTEE	1.00	Director	$0	$0	$0
BRUCE T SILVERSTONE	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN C LEAHY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL KOLAKOWSKI	TRUSTEE	1.00	Director	$0	$0	$0
SEAN M CARROLL	TRUSTEE	1.00	Director	$0	$0	$0
JOAHANNES VAN DER GIESSEN	PRESIDENT	35.00	Officer	$109,989	$0	$109,989

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$7,027	$529,558	$5,589,892	$-522,531
2023	$311,904	$1,321,845	$8,427,595	$-1,009,941
2022	$32,488	$3,474,717	$20,644,610	$-3,442,229
2021	$72,089,429	$113,067,608	$20,054,374	$-40,978,179
2020	$150,399,148	$143,642,986	$128,448,654	$6,756,162
2019	$138,679,021	$147,066,078	$137,344,288	$-8,387,057
2018	$147,323,534	$153,784,818	$146,473,153	$-6,461,284