NEW BEDFORD DEVELOPMENT CORPORATION (EIN 831553317) - Form 990 Financial Analysis & Trantor Score

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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

2018

Legal Domicile

Principal Officer

STEVEN ABEAUREGARD

Phone

5089974829

Tax Period

2024-01-01 to 2024-12-31

NEW BEDFORD DEVELOPMENT CORPORATION, founded in 2018, is a micro nonprofit in the Housing & Shelter sector that reported $3K in total revenue in fiscal year 2024. Revenue fell 72% from the prior year — a significant decline worth monitoring. Expenses of $23K exceeded revenue, resulting in a 706% operating deficit.

Mission

TO DEVELOP,REDEVELOP,OWN AND MANAGE AFFORDABLE WORKFORCE HOUSING AND RELATED SERVICES TO LOW AND MODERATE INCOME HOUSEHOLDS,AND TO PROVIDE RELATED RESIDENT SERVICES.TO DEVELOP AND OPERATE COMMUNITY PROJECTS WHICH COMBAT COMMUNITY DETERIORATION AND ASSIST IN NEIGHBORHOOD REVITALIZATION, STABILIZATION,AND SUPPORT ENERGY EFFICIENCY INITIATIVES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $2,837

Other Revenue $0

TOTAL REVENUE $2,837

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,875

Other Expenses $22,875

TOTAL EXPENSES $22,875

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,837	$10,068	-0.7%
Expenses	$22,875	$102,514	-0.8%
Net Income	$-20,038	$-92,446	-0.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN ABEAUREGARD	PRESIDENT	10.00	Officer Director	$0	$0	$0
REVLEONA JFISHER	TREASURER	10.00	Officer Director	$0	$0	$0
WENDY AMENDOZA-RIVERA	CLERK	5.00	Officer Director	$0	$0	$0
JOSEPH ECARVALHO	DIRECTOR	1.00	Officer Director	$0	$0	$0
WILLIAM HKING	DIRECTOR	1.00	Officer Director	$0	$0	$0
JOHN WHALEN	DIRECTOR	1.00	Officer Director	$0	$0	$0
BRUCE JOLIVEIRA	DIRECTOR	1.00	Officer Director	$0	$0	$0

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
2024	$2,837	$22,875	$2,666,005	$-20,038
2023	$10,068	$102,514	$2,686,913	$-92,446
2022	$312	$100,148	$2,906,457	$-99,836
2021	$648	$86,246	$2,381,110	$-85,598
2020	$1,370	$120,479	$2,386,061	$-119,109
2020	$1,370	$166,751	$2,386,061	$-165,381
2019	$196,194	$241,923	$2,014,874	$-45,729

NEW BEDFORD DEVELOPMENT CORPORATION