Bridgewater Home Inc
- Assets
- $54.6m
- Revenue
- $29.0m
- Investments
- $6.4m
- Employees
- 577
- Location
- Bridgewater, VA
- Founding
- 05/1966
- Data as of
- 09/2023
- EIN
- 54-6043653
Organization Overview
Bridgewater Home Inc is located in Bridgewater, VA. The organization was established in 1966. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 09/2023, Bridgewater Home Inc employed 577 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater Home Inc 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 09/2023, Bridgewater Home Inc generated $29.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $26.7m during the year ending 09/2023. While expenses have increased by 4.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTED LIVING AND NURSING CARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPLETE RESIDENTIAL AND NURSING CARE (MEDICAL, FOOD, LAUNDRY & HOUSEKEEPING) - APPROXIMATELY 200 RESIDENTS/PATIENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney Alderfer President | Officer | 0 | $0 |
James Weaver Treasurer | Officer | 0 | $0 |
Jeffrey Lambert VP Of Health Serv. | 40 | $123,871 | |
Nicole Yeago Direct. Of Therapy | 40 | $102,610 | |
Ae Kyung Dupont Nurse | 40 | $93,320 | |
Paul Derrick Therapist | 40 | $97,670 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $39,783 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,083,928 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,123,711 |
| Total Program Service Revenue | $26,874,808 |
| Investment income | $1,019,198 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,024,417 |
| 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 | $13,713,898 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,681,901 |
| Payroll taxes | $982,920 |
| Fees for services: Management | $2,038,745 |
| 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 | $205,198 |
| Advertising and promotion | $0 |
| Office expenses | $887,744 |
| Information technology | $216,937 |
| Royalties | $0 |
| Occupancy | $1,115,384 |
| Travel | $101,243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,991 |
| Interest | $785,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,883,474 |
| Insurance | $486,309 |
| All other expenses | $218,539 |
| Total functional expenses | $26,683,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,777 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $703,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,038,998 |
| Inventories for sale or use | $107,112 |
| Prepaid expenses and deferred charges | $351,626 |
| Net Land, buildings, and equipment | $38,388,971 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,401,044 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,537,979 |
| Total assets | $54,585,292 |
| Accounts payable and accrued expenses | $2,000,708 |
| 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 | $23,248,348 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,685,295 |
| Total liabilities | $26,934,351 |
| Net assets without donor restrictions | $27,650,941 |
| 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 | $54,585,292 |