Bridge Academy
- Assets
- $3.2m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 76
- Location
- Bridgeport, CT
- Founding
- 12/1997
- Data as of
- 06/2024
- EIN
- 06-1479710
Organization Overview
Bridge Academy is located in Bridgeport, CT. The organization was established in 1997. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2024, Bridge Academy employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridge Academy 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 06/2024, Bridge Academy generated $5.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $5.4m during the year ending 06/2024. While expenses have increased by 2.6% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A COLLEGE PREPARATORY CURRICULUM FOR INNER CITY STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIDGE ACADEMY - CONNECTICUT CHARTER SCHOOL THAT PROVIDES EDUCATION FOR GRADES 7 THROUGH 12 WITH A TOTAL CAPACITY OF 281 STUDENTS. IN THE PAST YEAR THERE WERE 280 OF STUDENTS IN THE SCHOOL AND AVERAGE DAILY ATTENDANCE WAS 90%. UPON GRADUATION 100% OF THE STUDENTS WERE ACCEPTED TO COLLEGE.
SUMMER SCHOOL - THIS PROGRAM PROVIDES TUTORING AND CREDIT RECOVERY TO STUDENTS DURING THE MONTH OF JULY. STUDENTS MAKE UP CREDIT IN FAILED CLASSES AS WELL AS ATTENDANCE AT REMEDIATION PROGRAMS IN READING AND MATHEMATICS. STUDENTS SUCCESSFULLY COMPLETING SUMMER SCHOOL ARE PROMOTED TO THE NEXT GRADE. 150 STUDENTS TOOK ADVANTAGE OF THIS PROGRAM DURING THE YEAR.
AFTERSCHOOL - PROGRAMS ARE OPEN TO BRIDGE ACADEMY STUDENTS AND PROVIDE STUDENTS WITH POSITIVE OUTLETS OUTSIDE OF THE REGULAR SCHOOL DAY. AFTERSCHOOL PROGRAMS IN BASKETBALL, BOXING, DOMINOS, CHESS, POETRY, DANCE, AND FITNESS ARE PROVIDED. APPROXIMATELY 50 STUDENTS PARTICIPATE IN THE AFTERSCHOOL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peggy Bud Director | Trustee | 1 | $0 |
Craig Hoffman Secretary | OfficerTrustee | 1 | $0 |
Celeste Markle Director - Emeritus | Trustee | 1 | $0 |
Michael Grabowski Treasurer | OfficerTrustee | 1 | $0 |
Kit Kaolian Vice-President | OfficerTrustee | 1 | $0 |
Sandra Lefkowitz Director - Emeritus | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,353,776 |
| All other contributions, gifts, grants, and similar amounts not included above | $233,270 |
| Noncash contributions included in lines 1a–1f | $31,502 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,587,046 |
| Total Program Service Revenue | $34,709 |
| Investment income | $0 |
| 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 | $5,621,755 |
| 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 | $3,918,829 |
| 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 | $24,475 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,027 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $218,758 |
| Insurance | $41,364 |
| All other expenses | $25,059 |
| Total functional expenses | $5,430,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,280 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $318,000 |
| 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 | $26,478 |
| Net Land, buildings, and equipment | $2,733,191 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,188,949 |
| Accounts payable and accrued expenses | $346,556 |
| 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 | $1,066,559 |
| Total liabilities | $1,413,115 |
| Net assets without donor restrictions | $1,675,834 |
| Net assets with donor restrictions | $100,000 |
| 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 | $3,188,949 |