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Nonprofiteer
← BRIDGEWAY DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by BRIDGEWAY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,079,068
Total expenses
$1,525,213
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,066,794
Investment income
$12,274
Other revenue
$0
Total assets, end of year
$12,788,525
Total liabilities, end of year
$846,597
Net assets or fund balances, end of year
$11,941,928
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$1,525,213

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 $1,066,794 · related or exempt $1,066,794

  • 3 · Investment income

    total $12,274 · excluded $12,274

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $133,359

  • 11c · Fees: accounting

    total $3,350

  • 11g · Fees: other

    total $42,000

  • 13 · Office expenses

    total $10,691

  • 14 · Information technology

    total $23

  • 16 · Occupancy

    total $160,993

  • 17 · Travel

    total $315

  • 20 · Interest

    total $2,118

  • 22 · Depreciation, depletion and amortization

    total $860,200

  • 23 · Insurance

    total $41,386

  • 24a · Other expenses: BUILDING MAINTENANCE

    total $259,299

  • 24b · Other expenses: BAD DEBT

    total $5,758

  • 24c · Other expenses: EQUIPMENT MAINTENANCE

    total $5,502

  • 24e · All other expenses

    total $219

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,496 · end of year $50,993

  • 2 · Savings and temporary cash investments

    beginning of year $222,141 · end of year $267,415

  • 4 · Accounts receivable

    beginning of year $11,311 · end of year $9,697

  • 9 · Prepaid expenses and deferred charges

    beginning of year $123,675 · end of year $125,117

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

    $17,913,418

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

    $5,578,115

  • 10c · Land, buildings and equipment, net

    beginning of year $10,903,769 · end of year $12,335,303

  • 17 · Accounts payable and accrued expenses

    beginning of year $911,542 · end of year $656,905

  • 19 · Deferred revenue

    beginning of year $12,534 · end of year $10,626

  • 25 · Other liabilities

    beginning of year $258,740 · end of year $179,066

  • 27 · Net assets without donor restrictions

    beginning of year $10,123,576 · end of year $11,941,928

Mission and programs · 2024

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)

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.

    Expenses $1,525,213 · Revenue $1,066,794

As filed on the 2024 return.

Listed in Part VII

  • THOMAS BOGDEWIC

    PRESIDENT

    Total calculated
    $283,409
    From this org
    $0
    From related orgs
    $231,145
    Other
    $52,264
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,875 related
    Bonus
    $0
    Other
    $0 + $270 related
    Deferred
    $0 + $19,344 related
    Nontaxable benefits
    $0 + $32,920 related
    Filer's total
    $0 + $283,409 related

  • REGINALD OVERTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • RICARDO SAVIDO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • SCOTT LANGILL

    TREASURER

    Total calculated
    $225,347
    From this org
    $0
    From related orgs
    $191,988
    Other
    $33,359
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,594 related
    Bonus
    $0
    Other
    $0 + $394 related
    Deferred
    $0 + $12,431 related
    Nontaxable benefits
    $0 + $20,928 related
    Filer's total
    $0 + $225,347 related

  • JACOB SAULT

    CFO

    Total calculated
    $185,098
    From this org
    $0
    From related orgs
    $144,032
    Other
    $41,066
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,908 related
    Bonus
    $0
    Other
    $0 + $124 related
    Deferred
    $0 + $10,588 related
    Nontaxable benefits
    $0 + $30,478 related
    Filer's total
    $0 + $185,098 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

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
2024
Filed
5 March 2026
IRS schema version
2024v5.5
Source object
202610669349300711

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