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Nonprofiteer
← BRIDGEWAY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by BRIDGEWAY DEVELOPMENT CORPORATION.

Totals

Total revenue
$705,017
Total expenses
$1,284,498
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$698,277
Investment income
$6,740
Other revenue
$0
Total assets, end of year
$11,638,759
Total liabilities, end of year
$1,231,312
Net assets or fund balances, end of year
$10,407,447
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL INCOME

    total $698,277 · related or exempt $698,277

  • 3 · Investment income

    total $6,740 · excluded $6,740

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $109,453

  • 11b · Fees: legal

    total $9,548

  • 11c · Fees: accounting

    total $3,250

  • 11g · Fees: other

    total $62,420

  • 13 · Office expenses

    total $10,403

  • 17 · Travel

    total $311

  • 20 · Interest

    total $3,734

  • 22 · Depreciation, depletion and amortization

    total $693,388

  • 23 · Insurance

    total $27,165

  • 24a · Other expenses: BUILDING MAINTENANCE

    total $190,220

  • 24b · Other expenses: UTILITY EXPENSE

    total $124,293

  • 24c · Other expenses: REAL ESTATE TAXES

    total $47,606

  • 24e · All other expenses

    total $2,707

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,244 · end of year $29,391

  • 2 · Savings and temporary cash investments

    beginning of year $479,154 · end of year $160,894

  • 4 · Accounts receivable

    beginning of year $11,056 · end of year $5,241

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,276 · end of year $112,458

  • 10a · Land, buildings and equipment: cost or other basis

    $15,371,146

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,040,371

  • 10c · Land, buildings and equipment, net

    beginning of year $11,747,604 · end of year $11,330,775

  • 17 · Accounts payable and accrued expenses

    beginning of year $974,519 · end of year $882,775

  • 19 · Deferred revenue

    beginning of year $20,799 · end of year $10,123

  • 25 · Other liabilities

    beginning of year $418,088 · end of year $338,414

  • 27 · Net assets without donor restrictions

    beginning of year $10,986,928 · end of year $10,407,447

Mission and programs · 2022

Mission

THE MISSION 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.

Activities or mission (Part I)

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.

  • 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.

As filed on the 2022 return.

Listed in Part VII

  • Thomas Bogdewic

    PRESIDENT

    Total calculated
    $258,116
    From this org
    $0
    From related orgs
    $208,821
    Other
    $49,295
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,551 related
    Bonus
    $0
    Other
    $0 + $270 related
    Deferred
    $0 + $22,950 related
    Nontaxable benefits
    $0 + $26,345 related
    Filer's total
    $0 + $258,116 related

  • Reginald Overton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ricardo Savido

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Langill

    TREASURER

    Total calculated
    $200,062
    From this org
    $0
    From related orgs
    $165,056
    Other
    $35,006
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,842 related
    Bonus
    $0
    Other
    $0 + $214 related
    Deferred
    $0 + $16,454 related
    Nontaxable benefits
    $0 + $18,552 related
    Filer's total
    $0 + $200,062 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
BRIDGEWAY DEVELOPMENT CORPORATION RELIED UPON BRIDGEWAY CAPITAL, INC.'S METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT & CEO. THE PRESIDENT'S SALARY IS SET BY THE EXECUTIVE COMMITTEE OF BRIDGEWAY CAPITAL, INC.'S BOARD OF DIRECTORS. AT THE BEGINNING OF THE FISCAL YEAR, THE EXECUTIVE COMMITTEE SETS GOALS FOR THE PRESIDENT AS WELL AS REVIEWING PERFORMANCE RELATED TO GOALS FROM THE PRIOR FISCAL YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 15CCD CORPORATION

    C · REAL ESTATE DEVELOPMENT · PA

    Directly controlled by BRIDGEWAY CAPITAL INC

Provenance

Return type
form_990
Tax year
2022
Filed
13 February 2024
IRS schema version
2022v5.0
Source object
202420459349300527

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