Bridgewater Village Inc
- Assets
- $58.4m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 39
- Location
- Bridgewater, VA
- Founding
- 01/1972
- Data as of
- 09/2023
- EIN
- 23-7189250
Organization Overview
Bridgewater Village Inc is located in Bridgewater, VA. The organization was established in 1972. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Bridgewater Village Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater Village 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 Village Inc generated $11.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $10.3m during the year ending 09/2023. While expenses have increased by 6.8% 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
RETIREMENT HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETIREMENT HOUSING, PROPERTY MAINTENANCE & COORDINATION OF ACTIVITIES FOR THE RESIDENTS OF APPROXIMATELY 245 INDEPENDENT LIVING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney Alderfer President & CEO | Officer | 0 | $0 |
James Weaver Treasurer | Officer | 0 | $0 |
Jeannette Suter VP Of Il & Al | 40 | $98,488 | |
Pam Sherman Secretary | Officer | 0 | $0 |
Craig Landes Director | Trustee | 0 | $0 |
Bob Wheatley Director | Trustee | 0 | $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 | $684,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $684,276 |
| Total Program Service Revenue | $10,001,725 |
| Investment income | $642,521 |
| 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 | -$108,403 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,220,119 |
| 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 | $1,463,321 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $244,250 |
| Payroll taxes | $107,305 |
| 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 | $2,928,411 |
| Advertising and promotion | $0 |
| Office expenses | $153,432 |
| Information technology | $222,386 |
| Royalties | $0 |
| Occupancy | $783,286 |
| Travel | $22,009 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,315 |
| Interest | $739,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,447,691 |
| Insurance | $211,169 |
| All other expenses | $63,793 |
| Total functional expenses | $10,336,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,880 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,163,206 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $320,509 |
| Inventories for sale or use | $49,058 |
| Prepaid expenses and deferred charges | $154,948 |
| Net Land, buildings, and equipment | $50,868,400 |
| Investments—publicly traded securities | $3,395,084 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,181,033 |
| Total assets | $58,440,118 |
| Accounts payable and accrued expenses | $457,535 |
| 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 | $19,831,619 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $35,217,092 |
| Total liabilities | $55,506,246 |
| Net assets without donor restrictions | $2,933,872 |
| 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 | $58,440,118 |