Bridgeway Foundation
- Assets
- $16.5m
- Revenue
- $1.6m
- Investments
- $9.8m
- Employees
- 0
- Location
- Galesburg, IL
- Founding
- 12/1977
- Data as of
- 06/2022
- EIN
- 37-1030683
Organization Overview
Bridgeway Foundation is located in Galesburg, IL. The organization was established in 1977. According to its NTEE Classification (F19) the organization is classified as: Support N.E.C., under the broad grouping of Mental Health & Crisis Intervention and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgeway Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Bridgeway Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $998.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) 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
HOLD TITLE TO PROPERTY TO LEASE TO OTHER AFFILIATED EXEMPT ORGANIZATIONS AND PROVIDING MANAGEMENT AND ACCOUNTING SERVICES TO THESE OTHER ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLDING OF TITLE TO PROPERTY TO LEASE TO OTHER AFFILIATED EXEMPT ORGANIZATIONS AND PROVIDING MANAGEMENT AND ACCOUNTING SERVICES TO THESE OTHER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Garner Chairman | OfficerTrustee | 0.5 | $0 |
William Nelson Ceo/president | OfficerTrustee | 0.5 | $0 |
Steve Tibbitts Vice Chairman | OfficerTrustee | 0.5 | $0 |
Jennifer Dalton Secretary | Officer | 0.5 | $0 |
Staci Danner Treasurer | Officer | 0.5 | $0 |
Chris Butcher 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 | $11,477 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,477 |
| Total Program Service Revenue | $1,208,632 |
| Investment income | $180,848 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $238,556 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,640,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,080 |
| 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 | $30,000 |
| 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 | $151,462 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $222,465 |
| Insurance | $0 |
| All other expenses | $40,608 |
| Total functional expenses | $998,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,906,987 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $145 |
| 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 | $75,394 |
| Net Land, buildings, and equipment | $371,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,845,396 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,279,962 |
| Total assets | $16,478,981 |
| Accounts payable and accrued expenses | $52,648 |
| 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 | $320,491 |
| Total liabilities | $373,139 |
| Net assets without donor restrictions | $16,084,753 |
| Net assets with donor restrictions | $21,089 |
| 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 | $16,478,981 |
Grants Awarded
Over the last fiscal year, Bridgeway Foundation has awarded $242,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Galesburg, IL PURPOSE: REQUIRED % W/ MCPT TRANSPORTATION CONTRACT AND DONATED FUNDS INITIATIVE 25% MATCH AND MISCELLANEOUS DONATIONS. | $190,250 |
Galesburg, IL PURPOSE: KNOX COUNTY BOARD DONATION | $47,250 |
Galesburg, IL PURPOSE: DONATION TO SUPPORT CAMP KIDZ SUMMER DAY CAMP FOR CHILDREN WITH DISABILITIES | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bridgeway Foundation has recieved totaling $125.
| Awarding Organization | Amount |
|---|---|
Illinois Growth Enterprises Inc Loves Park, IL PURPOSE: SUPPORT CHARITABLE FUNCTION | $125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mountain Plus Services Inc Prestonsburg, KY | $4,228,019 | $55,289,145 |
Hope For The Day Chicago, IL | $1,202,940 | $889,880 |
Bridgeway Foundation Galesburg, IL | $16,478,981 | $1,640,013 |
Our Place Drug And Alcohol Education Services Inc New Albany, IN | $555,345 | $1,023,625 |
Erikas Lighthouse A Beacon Of Hope For Adolescent Depression Winnetka, IL | $760,593 | $881,391 |
Halos Of The St Croix Valley New Richmond, WI | $209,782 | $173,539 |
Arise Equine Therapy Foundation Foristell, MO | $49,864 | $131,251 |
Suburban North Club Corporation Noblesville, IN | $1,017,122 | $620,544 |
Laporte County Drug Free Partnership Inc Michigan City, IN | $24,105 | $0 |
Project Wake Up Shrewsbury, MO | $338,110 | $73,469 |
Hooves Of Hope Illinois Potomac, IL | $87,670 | $0 |
Macon County Ptsd Foundation Decatur, IL | $4,186,833 | $4,199,928 |