Bridgeway Foundation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 371030683 ✦ Galesburg, IL ✦ Designated as a 501(c)(3)

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Overview

What is Bridgeway Foundation?

The Bridgeway Foundation, established in Galesburg, Illinois, serves as a nonprofit entity primarily focused on managing and accounting for properties leased to affiliated exempt organizations. Its primary role is to hold title to these properties, ensuring their proper utilization by the affiliated organizations. By providing essential management and accounting services, the Bridgeway Foundation plays a crucial role in supporting the operations and financial wellbeing of its associated organizations.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 94% (Four-Star out of Four Stars)

The Bridgeway Foundation has earned a strong Four-Star rating from Charity Navigator, reflecting its commitment to accountability and financial health. With an overall score of 94%, the foundation demonstrates excellent governance practices, including a high percentage of independent board members and comprehensive financial audits. This rating indicates that the organization effectively manages its resources and adheres to best practices in nonprofit management.

The foundation's strengths lie in its high program expense ratio of 82.70%, which suggests that a significant portion of its funds is allocated directly to its mission-driven programs. Additionally, the foundation shows no material diversions of assets and has implemented robust policies concerning conflicts of interest and whistleblower protections. These factors contribute to a solid reputation for transparency and accountability.

While the foundation excels in financial governance, it is essential for potential donors and supporters to stay informed about its ongoing programs and initiatives to understand the full impact of their contributions. Overall, the Bridgeway Foundation stands out as a trustworthy nonprofit organization with a strong focus on responsible financial management.


This AI summary has been generated from information found on Charity Navigator.

Is Bridgeway Foundation legitimate?

Bridgeway Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridgeway Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Bridgeway Foundation?

The Bridgeway Foundation's mission revolves around holding title to property for lease to affiliated exempt organizations and providing them with essential management and accounting services. This strategy allows these affiliated organizations to focus on their respective missions while benefiting from the Foundation's property and administrative support. By offering these services, the Bridgeway Foundation contributes to the overall functioning and success of its affiliated organizations, thereby extending its reach and impact in various sectors.

Who is the CEO of Bridgeway Foundation?

William Nelson is the Vice Chairman of Bridgeway Foundation. The CEO's salary of Bridgeway Foundation is $0 and their total compensation is $0.

What is the revenue of Bridgeway Foundation?

Bridgeway Foundation's revenue in 2022 was $1,640,013.

Who are the executives of Bridgeway Foundation and what are their salaries?


Here are 8 key members and their salaries (Bridgeway Foundation's CEO's salary is $0 and their total compensation is $0):


Steve Tibbitts (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
David Garner (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Duncan (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
William Nelson (Ceo/President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Butcher (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wayne Allen (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Staci Danner (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jennifer Dalton (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Bridgeway Foundation?

Bridgeway Foundation's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Bridgeway Foundation

Bridgeway Foundation, as revealed in the provided information, is primarily tasked with holding title to property for lease to other affiliated exempt organizations. This role extends beyond mere property management, as it also involves offering accounting and administrative services to these organizations. In essence, Bridgeway Foundation acts as a supportive entity, providing the necessary infrastructure and financial management tools to enable its affiliated exempt organizations to function effectively and efficiently. This mission enables these organizations to focus on their respective missions, ultimately contributing to the broader societal good.

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Impact




October, 2024

Bridgeway Foundation significantly impacts affiliated organizations by holding property titles and leasing them, ensuring these entities have the essential resources needed to operate effectively. By providing management and accounting services, the foundation enhances operational efficiency and financial oversight, allowing these organizations to focus on their core missions. This support fosters collaboration and growth within the community, enabling affiliated groups to serve their constituents more effectively and sustainably. The foundation's strategic role in property and resource management plays a crucial role in the success of these organizations, ultimately contributing to the overall well-being of the Galesburg, IL area.




This information is meant to be a general summary of Bridgeway Foundation. 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.

Revenue
$1,640,013 (2022)
201120122013201420152016201720182019202020212022$0$1.5M$3M$4.5M$6M
Expenses
$998,785 (2022)
201120122013201420152016201720182019202020212022$0$1M$2M$3M$4M
Efficiency
2011201220132014201520162017201820192020202120220%0.2%0.4%0.6%0.8%1%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $419,404
  • Program Service Revenue: $1,208,632
  • Gross Receipts: $2,575,006

Assets and Liabilities:

  • Total Assets: $16,478,981
  • Total Liabilities: $373,139
  • Net Assets: $16,105,842

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENTAL INCOME

Revenue

$818,308

SERVICE FEES

Revenue

$390,324

Organization Details

Founding Year

1977

Principal Officer

William Nelson

Main Address

2323 N WINDISH DRIVE, GALESBURG, IL, 61401

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