Overview
What is The Bridge Fund Of New York Inc?
The Bridge Fund of New York Inc is a nonprofit organization situated in New York City, specifically at 271 Madison Ave 907, New York, NY 10016. Their primary mission is to combat homelessness, providing assistance to families at risk of becoming homeless. They accomplish this by offering interest-free loans or grants, as well as financial counseling. This combination of support empowers families to navigate their financial situations and maintain stable housing. In 2022, an impressive 929 families benefited from their services. With a team of 20 dedicated employees, The Bridge Fund of New York Inc demonstrates a strong commitment to supporting vulnerable families and preventing homelessness in their community.
Official website here: www.thebridgefund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95%
The Bridge Fund of New York Inc has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, indicating a high level of financial health and accountability. With an accountability and finance score of 96, the organization demonstrates exceptional governance standards, including 100% independent board members and a strong commitment to ethical practices, as evidenced by comprehensive policies on conflict of interest and whistleblowing.
Strengths of the organization include its high program expense ratio of 88.23%, which reflects a significant investment in its mission-related activities. The thoroughness of its financial oversight is evident through its excellent scores in audit and oversight, as well as a low liabilities-to-assets ratio of 4.79%. These factors contribute to the nonprofit's credibility and effectiveness in utilizing resources efficiently for its programs.
While the organization has strong financial scores, its culture and community score of 83 may suggest areas for improvement in engagement and outreach. However, overall, The Bridge Fund of New York Inc appears to be a well-managed nonprofit with a clear focus on its objectives and responsible use of donations.
This AI summary has been generated from information found on Charity Navigator.
Is The Bridge Fund Of New York Inc legitimate?
The Bridge Fund Of New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Bridge Fund Of New York Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $147,617
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,094,396
For more financial information, click here
Official website here: www.thebridgefund.org
What is the mission statement of The Bridge Fund Of New York Inc?
The Bridge Fund of New York Inc. is dedicated to preventing homelessness. They achieve this by offering financial assistance to families at risk of becoming homeless, either through interest-free loans or grants. Additionally, they provide financial counseling to help clients manage their finances more effectively. In 2022, this organization extended aid to 929 families, demonstrating their commitment to this cause.
Official website here: www.thebridgefund.org
Who is the CEO of The Bridge Fund Of New York Inc?
Anthony Sabia is the Director of The Bridge Fund Of New York Inc.
Official website here: www.thebridgefund.org
What is the revenue of The Bridge Fund Of New York Inc?
The Bridge Fund Of New York Inc's revenue in 2022 was $6,688,159.
Official website here: www.thebridgefund.org
Who are the executives of The Bridge Fund Of New York Inc and what are their salaries?
The average compensation at The Bridge Fund Of New York Inc during 2022 was $62,101. There are 20 employees and 13 volunteers at The Bridge Fund Of New York Inc.
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- Compensation: $136,659
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- Other: $10,958
- Compensation: $101,405
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- Other: $10,921
Official website here: www.thebridgefund.org
Where can I find the form 990 for The Bridge Fund Of New York Inc?
The Bridge Fund Of New York Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thebridgefund.org
Learn more at the official website: www.thebridgefund.org
Mission Statement of The Bridge Fund Of New York Inc
The Bridge Fund of New York Inc, a devoted organization, is dedicated to preventing homelessness. They accomplish this mission by offering a unique combination of financial assistance and guidance to individuals and families who are at risk of becoming homeless. This aid comes in the form of interest-free loans or grants, providing them with much-needed financial support during challenging times. In 2022 alone, the organization extended assistance to 929 families, demonstrating their commitment to combating homelessness and improving the lives of those in need.
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Impact
October, 2024
The Bridge Fund of New York Inc actively fights against homelessness by providing vital financial support and counseling to families at risk. In 2022 alone, it assisted 929 families, helping them secure their housing through a combination of interest-free loans and grants. This multifaceted approach not only addresses immediate financial needs but also equips clients with financial counseling, empowering them to manage their resources more effectively and reduce the likelihood of future crises. By combining assistance with education, The Bridge Fund plays a crucial role in preventing homelessness and fostering stability within the community.
This information is meant to be a general summary of The Bridge Fund Of New York Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$694,887
- Gross Receipts: $8,506,697
Assets and Liabilities:
- Total Assets: $5,053,011
- Total Liabilities: $242,408
- Net Assets: $4,810,603
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Organization Details
Founding Year
1991
Phone
(646) 742-1465Principal Officer
Anthony Sabia
Main Address
271 MADISON AVE 907, NEW YORK, NY, 10016
Website
www.thebridgefund.orgNTEE Category
Code: P60 - Human services
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