Bridgeway Capital Inc is located in Pittsburgh, PA. The organization was established in 1990. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Bridgeway Capital Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgeway Capital 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, Bridgeway Capital Inc generated $18.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $9.3m during the year ending 09/2023. While expenses have increased by 5.4% 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.
Since 2015, Bridgeway Capital Inc has awarded 93 individual grants totaling $3,232,452. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE COMBAT INJUSTICES AND ADVANCE OPPORTUNITIES BY BUILDING CAPACITY, INVESTING CAPITAL, AND DEVELOPING UNDERSERVED AREAS TO GROW BUSINESSES AND REVITALIZE PLACES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING BY BRIDGEWAY CAPITAL BENEFITED LOW-INCOME PEOPLE AND ASSISTED IN THE FORMATION AND GROWTH OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS IN LOW- TO MODERATE-INCOME COMMUNITIES ACROSS 15 COUNTIES IN WESTERN PENNSYLVANIA AND PARTS OF NORTHERN WEST VIRGINIA AND EASTERN OHIO. 108 BORROWERS RECEIVED LOANS TOTALING $25.4 MILLION, WHICH LEVERAGED $39.2 MILLION IN ADDITIONAL FINANCING. BORROWERS RANGED FROM ENTREPRENEURS STARTING THEIR FIRST BUSINESS TO ESTABLISHED BUSINESSES EXPANDING OPERATIONS AND DEVELOPING THEIR JOB BASE, TO NON-PROFITS PROVIDING CRITICAL SOCIAL SERVICES AND ORGANIZATIONS FOCUSED ON REVITALIZING DISTRESSED COMMUNITIES. THE ECONOMIC IMPACT OF THIS LENDING IS PROJECTED TO HELP CREATE OR RETAIN 783 JOBS.
BRIDGEWAY CAPITAL'S PROGRAMS TEAM LEADS A NUMBER OF EFFORTS THAT SERVE A WIDE RANGE OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS. IN FY23, BRIDGEWAY PROVIDED SUPPORT TO 131 MISSION-ALIGNED CLIENTS AND FACILITATED SUPPORT OF AN ADDITIONAL 53 BUSINESSES. THE ASSISTANCE CAME PRIMARILY IN THE FORM OF ONE-ON-ONE AND COHORT-BASED SERVICES. FOR EXAMPLE, BRIDGEWAY EXECUTED A WIDE RANGE OF COHORTS FOR VARIED EMERGING AND ESTABLISHED BUSINESSES. THE ALLIANCE FOR CREATIVE RURAL ECONOMIES (ACRE) COHORTS SERVED GROUPS OF CREATIVE ENTREPRENEURS FROM WHEELING, WV, JOHNSTOWN, PA, GREENSBURG, PA AND NEW KENSINGTON, PA. WHILE THE BUILDING GROWTH COHORTS SUPPORTED GROUPS OF EMERGING, BLACK-OWNED CONSTRUCTION BUSINESSES IN AND AROUND ERIE, PA AND PITTSBURGH, PA. FOR ONE-ON-ONE BUSINESS ASSISTANCE, THE ENTREPRENEURSHIP HUB CONTINUED TO DELIVER A HIGH VOLUME OF GUIDANCE TO LENDING PROSPECTS AND CURRENT BORROWERS THROUGH A NETWORK OF SKILLED CONSULTANTS FUNDED THROUGH AN SBA MICROLOAN TA GRANT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas Bogdewic President & CEO | OfficerTrustee | 38 | $208,821 |
Ronald A Donatelli Chairperson | OfficerTrustee | 0.5 | $0 |
Melvin Washington Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Lynn Davenport Secretary (exited 1/23) | OfficerTrustee | 0.5 | $0 |
Stephanie Dangel Director/secretary | OfficerTrustee | 0.5 | $0 |
Georgia Berner Treasurer | OfficerTrustee | 0.5 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Bk General Contracting Llc General Contracting | 9/29/23 | $248,032 |
Griffith Mccague & Happel Pc Legal | 9/29/23 | $162,714 |
Pipitone Group Pr Services | 9/29/23 | $131,374 |
Paramount Pursuits Llc Technical Assistance Provider | 9/29/23 | $114,620 |
Baker Newman Noyes Technology Consulting | 9/29/23 | $106,650 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $9,837,342 |
All other contributions, gifts, grants, and similar amounts not included above | $2,645,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $12,482,342 |
Total Program Service Revenue | $4,937,077 |
Investment income | $593,122 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$25,117 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $17,987,424 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $430,980 |
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. | $1,123,072 |
Compensation of current officers, directors, key employees. | $462,901 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,400,578 |
Pension plan accruals and contributions | $227,265 |
Other employee benefits | $362,187 |
Payroll taxes | $227,771 |
Fees for services: Management | $0 |
Fees for services: Legal | $43,906 |
Fees for services: Accounting | $119,276 |
Fees for services: Lobbying | $4,750 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $51,215 |
Fees for services: Other | $1,492,199 |
Advertising and promotion | $166,758 |
Office expenses | $77,621 |
Information technology | $195,180 |
Royalties | $0 |
Occupancy | $277,946 |
Travel | $35,340 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $60,757 |
Conferences, conventions, and meetings | $0 |
Interest | $1,024,442 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $84,932 |
Insurance | $73,438 |
All other expenses | $1,589,980 |
Total functional expenses | $9,292,096 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $664,675 |
Savings and temporary cash investments | $12,718,219 |
Pledges and grants receivable | $4,349,912 |
Accounts receivable, net | $874,921 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $74,276,368 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $846,296 |
Net Land, buildings, and equipment | $775,449 |
Investments—publicly traded securities | $10,252,251 |
Investments—other securities | $12,615,388 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,689,137 |
Total assets | $120,062,616 |
Accounts payable and accrued expenses | $770,632 |
Grants payable | $0 |
Deferred revenue | $196,972 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $220,075 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $2,282,632 |
Unsecured mortgages and notes payable | $52,985,092 |
Other liabilities | $2,096,282 |
Total liabilities | $58,551,685 |
Net assets without donor restrictions | $53,579,142 |
Net assets with donor restrictions | $7,931,789 |
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 | $120,062,616 |
Over the last fiscal year, Bridgeway Capital Inc has awarded $405,630 in support to 10 organizations.
Grant Recipient | Amount |
---|---|
NORTH SIDE PARTNERSHIP PROJECT PURPOSE: REAL ESTATE PRE-DEVELOPMENT | $45,000 |
DININGWDIVAS LLC PURPOSE: SMALL BUSINESS STARTUP SUPPORT | $8,150 |
SALEM'S MARKET CENTRE AVE LLC PURPOSE: REAL ESTATE PRE-DEVELOPMENT | $50,000 |
THE GREENWOOD PLAN PURPOSE: REAL ESTATE PRE-DEVELOPMENT | $39,000 |
AMANI CHRISTIAN COMMUNITY DEVELOPMENT CORPORATION PURPOSE: REAL ESTATE PRE-DEVELOPMENT | $40,000 |
THE CITIZENS SCIENCE LAB PURPOSE: REAL ESTATE PRE-DEVELOPMENT | $40,000 |