Bridgewater Area Community Fouindation Inc
- Assets
- $366.7k
- Revenue
- $238.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Bridgewater Corners, VT
- Founding
- 11/2018
- Data as of
- 12/2020
- EIN
- 83-1706093
Organization Overview
Bridgewater Area Community Fouindation Inc is located in Bridgewater Corners, VT. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater Area Community Fouindation 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 12/2020, Bridgewater Area Community Fouindation Inc generated $238.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $76.0k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A VIBRANT CENTER WHERE THE PEOPLE OF BRIDGEWATER AND THE SURROUNDING TOWNS CAN GATHER AS PART OF A CARING, DIVERSE COMMUNITY OF PEOPLE FROM ALL AGES AND WALKS OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FOSTERS EDUCATION, ARTISTRY, COMMERCE, HEALTH AND WELLNESS, PERSONAL GROWTH AND CONNECTION. IT STRIVES TO MEET THE BASIC NEEDS OF ALL CITIZENS IN A RESILIENT SPACE THAT WILL CONTINUE TO SERVE, AND FUNCTION, WHEN IT IS NEEDED THE MOST. DURING 2019 THE FOUNDATION HAS BEGUN RAISING FUNDS TO RENOVATE THE FORMER BRIDGEWATER VILLAGE SCHOOL BUILDING AND CONVERT IT INTO THE BRIDGEWATER COMMUNITY CENTER. THE COMMUNITY CENTER WILL HOUSE A CHILD CARE CENTER AS WELL AS OTHER COMMUNITY INITIATIVES - SENIOR PROGRAMMING, CULUTURAL ARTS, LIFE SKILLS AND ENRICHEMNT OPPORTUNITIES, HEALTH AND WELLNESS INITIATIVES, TOWN MEETING SITE AND WILL SERVE AS A TOWN EMEMERGENCY SHELTER.
THE BRIDGEWATER AREA COMMUNITY FOUNDATION, INC. IS CURRENTLY NEARING THE END OF PHASE ONE OF CREATING A CHILD CARE CENTER WITHIN THE BRIDGEWATER COMMUNITY CENTER BUILDING. THE CENTER WILL INCREASE LICENSED CARE IN THE COMMUNITY BY 100%. THE GOAL IS TO BECOME A 5-STAR PROGRAM SERVING INFANTS AND TODDLERS TO START, THEN ADDING PRESCHOOLERS DURING PHASE TWO. PHASE ONE BEGAN IN 2019 THROUGH FUNDRAISING IN ORDER TO BEGIN RENTING AND OUTFITTING A CLASSROOM FOR 14 INFANTS AND TODDLERS, AS WELL AS MAKING A FORMER ELEMENTARY SCHOOL PLAYGROUND DEVELOPMENTALLY APPROPRIATE FOR INFANTS AND TODDLERS. THE GOALS IS TO COMPLETE RENOVATIONS, LICENSING REQUIREMENTS AND HIRING TO OPEN THE CENTER BY JANUARY 2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Bontrager Chair | OfficerTrustee | 2 | $0 |
Hank Smith Vice Chair | OfficerTrustee | 2 | $0 |
Joni Kennedy Secretary | OfficerTrustee | 4 | $0 |
Victoria Young Treasurer | OfficerTrustee | 4 | $0 |
Michael Caduto Director | Trustee | 1 | $0 |
Kathleen Dolan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,586 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,844 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $237,430 |
| Total Program Service Revenue | $0 |
| Investment income | $1,231 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $238,661 |
| 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. | $9,063 |
| Compensation of current officers, directors, key employees. | $4,531 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $355 |
| Payroll taxes | $693 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,744 |
| Office expenses | $1,242 |
| Information technology | $1,409 |
| Royalties | $0 |
| Occupancy | $23,602 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $76,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,540 |
| Savings and temporary cash investments | $349,131 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $366,671 |
| Accounts payable and accrued expenses | $71 |
| 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 | $0 |
| Total liabilities | $71 |
| Net assets without donor restrictions | $201,193 |
| Net assets with donor restrictions | $165,407 |
| 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 | $366,671 |