Bridgeway Properties Corporation
- Assets
- $9.2m
- Revenue
- $1.4m
- Investments
- $104.3k
- Employees
- 0
- Location
- Galesburg, IL
- Founding
- 01/1988
- Data as of
- 06/2022
- EIN
- 36-3454961
Organization Overview
Bridgeway Properties Corporation is located in Galesburg, IL. The organization was established in 1988. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgeway Properties Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2022, Bridgeway Properties Corporation generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FURNISH SERVICES/FACILITIES TO OTHER ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIDGEWAY PROPERTIES CORPORATION HOLDS TITLE TO PROPERTY AND COLLECTS INCOME THROUGH LEASING ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Tibbitts Vice Chairman | OfficerTrustee | 0.5 | $0 |
David Garner Chairman | OfficerTrustee | 0.5 | $0 |
William Nelson Ceo/president | OfficerTrustee | 0.5 | $0 |
Staci Danner Treasurer | Officer | 0.5 | $0 |
Jennifer Dalton Secretary | Officer | 0.5 | $0 |
Jason Duncan Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,379,266 |
| Investment income | $326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,410,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $177,888 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $494,326 |
| Depreciation, depletion, and amortization | $444,426 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,410,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,343,326 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,179 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,040 |
| Net Land, buildings, and equipment | $7,689,909 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $104,346 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,166,800 |
| Accounts payable and accrued expenses | $1,478 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,216,334 |
| Total liabilities | $2,217,812 |
| Net assets without donor restrictions | $6,948,988 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,166,800 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bridgeway Properties Corporation has recieved totaling $47,250.
| Awarding Organization | Amount |
|---|---|
Bridgeway Foundation Galesburg, IL PURPOSE: KNOX COUNTY BOARD DONATION | $47,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute Of Real Estate Management Of The Natl Assn Of Realtors Chicago, IL | $10,741,868 | $14,078,057 |
Illinois Assn Of Realtors Springfield, IL | $43,746,253 | $17,014,133 |
Center For Specialized Realtor Education Inc Chicago, IL | $26,431,436 | $9,121,401 |
Swedish American Realty Corporation Rockford, IL | $18,485,524 | $7,044,065 |
Sdco Sfs Logistics Center Inc Chicago, IL | $145,459,378 | $6,525,972 |
Ipers 510 Marquette Inc Chicago, IL | $54,685,062 | $6,518,064 |
Ipers Creekside Inc Chicago, IL | $129,458,514 | $6,603,466 |
Savelli Properties Inc St Louis, MO | $35,804,880 | $2,705,555 |
Ipers Villas On Guadalupe-Tx Inc Chicago, IL | $47,058,177 | $4,863,492 |
Oakland 14th Office Inc Chicago, IL | $72,846,084 | $5,287,147 |
Highlands 501c 25 Inc Chicago, IL | $44,455,397 | $4,360,723 |
Sdc Clifton Commons Inc Chicago, IL | $61,522,059 | $4,418,653 |