Bridgeway Capital Inc

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Thomas Bogdewic
President & CEO
$208,821
Ronald A Donatelli
Chairperson
$0
Melvin Washington
Vice Chairperson
$0
Lynn Davenport
Secretary (exited 1/23)
$0
Stephanie Dangel
Director/secretary
$0
Georgia Berner
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bk General Contracting Llc
General Contracting
$248,032
Griffith Mccague & Happel Pc
Legal
$162,714
Pipitone Group
Pr Services
$131,374
Paramount Pursuits Llc
Technical Assistance Provider
$114,620
Baker Newman Noyes
Technology Consulting
$106,650
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, Bridgeway Capital Inc has awarded $405,630 in support to 10 organizations.

Grant RecipientAmount

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
View Grant Profile

Peer Organizations

Organization NameAssets
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New York, NY
$15,589,751
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$10,641,559
Pennsylvania Compensation Rating Bureau
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$13,545,302
Grand Central Partnership Inc
New York, NY
$13,880,529
Can Do Inc
Hazleton, PA
$19,938,198
Bridgeway Capital Inc
Pittsburgh, PA
$17,987,424
Ohio Community Development Finance Fund
Columbus, OH
$16,922,285
Delaware Innovation Space Inc
Wilmington, DE
$7,341,673
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc
Brooklyn, NY
$6,472,967
Techsolve Inc
Cincinnati, OH
$4,532,168
Broad Hollow Bioscience Park Inc
Farmingdale, NY
$2,252,688
Altoona-Blair County Development Corporation
Altoona, PA
$5,482,146
Better Business Bureau Of Metropolitan New York Inc
New York, NY
$5,011,405
Better Business Bureau Inc
Amherst, NY
$4,120,547
Maryland Mep Inc
Columbia, MD
$4,279,507
Deep Foundations Institute
Hawthorne, NJ
$3,986,266
The Graham Center Inc
New York, NY
$4,505,715
Cincinnati Better Business Bureau Inc
Cincinnati, OH
$4,169,621
Aviation Information Sharing And Analysis Center Inc
Annapolis, MD
$3,454,871
Committee For Digital Advertising And Marketing Accountability
New Providence, NJ
$3,613,951
York County Economic Alliance
York, PA
$3,255,423
Audio Engineering Society Inc
New York, NY
$3,238,587
Pro Bono Partnership Inc
White Plains, NY
$2,736,877
Handcrafted Soap And Cosmetic Guild Inc
Saratoga Springs, NY
$2,360,395
Greater Wilkes-Barre Industrial Fund Inc
Wilkesbarre, PA
$2,473,653

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