Bridgeway Development Corporation
- Assets
- $11.6m
- Revenue
- $705.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 02/2016
- Data as of
- 09/2023
- EIN
- 80-0842724
Organization Overview
Bridgeway Development Corporation is located in Pittsburgh, PA. The organization was established in 2016. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgeway Development Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 09/2023, Bridgeway Development Corporation generated $705.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $1.3m during the year ending 09/2023. While expenses have increased by 8.9% 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
THE MISSION OF IS TO OWN, OPERATE AND DEVELOP COMMERCIAL RENTAL REAL ESTATE FOR SMALL BUSINESSES, TO SUPPLY HEALTHY FOODS, TO PROVIDE LOW-INCOME HOUSING, TO SUPPORT NONPROFIT SERVICE PROVIDERS, TO CREATE JOBS, AND TO HELP REVITALIZE LOW-INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIDGEWAY DEVELOPMENT CORPORATION OWNS AND OPERATES A COMMERCIAL REAL ESTATE PROPERTY IN PITTSBURGH, PA AS A SPACE FOR SMALL BUSINESSES AND NONPROFIT COMPANIES IN A LOW-INCOME COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bogdewic President | OfficerTrustee | 2 | $0 |
Reginald Overton Director | Trustee | 0.5 | $0 |
Ricardo Savido Director | Trustee | 0.5 | $0 |
Scott Langill Treasurer | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sota Construction Services Inc Construction Contractor | 9/29/17 | $555,141 |
Ma'at Construction Group Llc Construction Contractor | 9/29/17 | $539,437 |
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 | $698,277 |
| Investment income | $6,740 |
| 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 | $705,017 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $109,453 |
| Fees for services: Legal | $9,548 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,420 |
| Advertising and promotion | $0 |
| Office expenses | $10,403 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,734 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $693,388 |
| Insurance | $27,165 |
| All other expenses | $2,707 |
| Total functional expenses | $1,284,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,391 |
| Savings and temporary cash investments | $160,894 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,241 |
| 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 | $112,458 |
| Net Land, buildings, and equipment | $11,330,775 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,638,759 |
| Accounts payable and accrued expenses | $882,775 |
| Grants payable | $0 |
| Deferred revenue | $10,123 |
| 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 | $338,414 |
| Total liabilities | $1,231,312 |
| Net assets without donor restrictions | $10,407,447 |
| 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 | $11,638,759 |