Bridges Development Inc
- Assets
- $9.9m
- Revenue
- $687.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Buffalo, NY
- Founding
- 08/2009
- Data as of
- 12/2023
- EIN
- 26-4085157
Organization Overview
Bridges Development Inc is located in Buffalo, NY. The organization was established in 2009. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Bridges Development Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridges Development Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Bridges Development Inc generated $687.4k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $1.3m 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 ASSIST BUFFALO MUNICIPAL HOUSING AUTHORITY TO PROVIDE CLEAN, SAFE, AND AFFORDABLE HOUSING FOR THE CITY OF BUFFALO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLANNING, COORDINATING, ORGANIZING, DEVELOPING, MANAGING, MAINTAINING, OWNING, REDOVELOPING, AND OPERATING HOUSING DEVELOPMENTS IN CONJUCTION WITH BUFFALO MUNICIPAL HOUSING AUTHORITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Rodriguez Chairman | OfficerTrustee | 1 | $0 |
Yvonne Mccray Vice Chairman | OfficerTrustee | 1 | $0 |
Charles Pressley Director | Trustee | 1 | $0 |
Nadine Marrero President | Officer | 40 | $110,240 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $659,593 |
| 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 | $687,377 |
| 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. | $110,240 |
| Compensation of current officers, directors, key employees. | $77,470 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,896 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,699 |
| 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 | $7,098 |
| Advertising and promotion | $0 |
| Office expenses | $284 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,022 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,173 |
| Insurance | $7,327 |
| All other expenses | $249 |
| Total functional expenses | $1,275,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $433,176 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $65,487 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,331,733 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,403 |
| Net Land, buildings, and equipment | $3,617 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,076,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,913,416 |
| Accounts payable and accrued expenses | $0 |
| 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 | $622,216 |
| Other liabilities | $0 |
| Total liabilities | $622,216 |
| Net assets without donor restrictions | $9,291,200 |
| 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 | $9,913,416 |