Bridging Virginia Inc
- Assets
- $1.1m
- Revenue
- $884.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, VA
- Founding
- Data as of
- 12/2023
- EIN
- 85-2003331
Organization Overview
Bridging Virginia Inc is located in Richmond, VA. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Bridging Virginia Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridging Virginia 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 12/2023, Bridging Virginia Inc generated $884.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 64.6% each year . All expenses for the organization totaled $596.4k during the year ending 12/2023. 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
TO SUPPORT LARGELY MINORITY-OWNED SMALL BUSINESSES IN VIRGINIA BY PROVIDING ACCESS TO AFFORDABLE LOAN CAPITAL AND FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ACCESS TO AFFORDABLE LOAN CAPITAL AND FINANCIAL SERVICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leah Fremouw President/ce | OfficerTrustee | 40 | $150,000 |
Marland Buckner Secretary | OfficerTrustee | 1 | $0 |
Dr Christie Cade Director | Trustee | 1 | $0 |
Leesa Christian Treasurer | OfficerTrustee | 1 | $0 |
Cynthia Eppes Hudson Director | Trustee | 1 | $0 |
Harrison Roday Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $650,403 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $800,403 |
| Total Program Service Revenue | $81,278 |
| Investment income | $3,011 |
| 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 | $884,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,700 |
| 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. | $150,000 |
| Compensation of current officers, directors, key employees. | $53,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,666 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,015 |
| Payroll taxes | $15,424 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,800 |
| Fees for services: Accounting | $11,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $183,769 |
| Advertising and promotion | $45,440 |
| Office expenses | $2,816 |
| Information technology | $21,640 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $6,623 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,883 |
| Interest | $14,053 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,148 |
| All other expenses | $991 |
| Total functional expenses | $596,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,911 |
| Savings and temporary cash investments | $269,809 |
| Pledges and grants receivable | $155,000 |
| Accounts receivable, net | $9,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $230,847 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,141 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,495 |
| Total assets | $1,066,703 |
| Accounts payable and accrued expenses | $14,577 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $48,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $299,352 |
| Other liabilities | $11,694 |
| Total liabilities | $383,623 |
| Net assets without donor restrictions | $202,637 |
| Net assets with donor restrictions | $480,443 |
| 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 | $1,066,703 |