Overview
What is Bridge Investment Community Development?
Bridge Investment Community Development is a nonprofit organization situated in Rock Island, Illinois, with the mission to promote economic growth and job creation in low- and moderate-income communities. They achieve this by engaging committed members and administering lending activities, such as originating and servicing loans. Their primary objective is to support the development of low- and moderate-income housing for eligible households, thereby contributing to community-based lending and investment.
Official website here: www.bridgeinvestmentcdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Bridge Investment Community Development has received a commendable Four-Star rating from Charity Navigator, with an impressive overall score of 96%. This high rating reflects the organization’s strong accountability and financial management, as evidenced by perfect scores in areas such as independent board member composition, audit oversight, and conflict of interest policies.
The nonprofit demonstrates a commitment to transparency and effective governance, maintaining a board that is entirely independent and adhering to best practices in financial oversight. With a program expense ratio of 80.73%, the organization effectively allocates a significant portion of its resources towards its mission-driven programs, indicating a focus on impactful community development.
While the data highlights numerous strengths, there are no notable limitations mentioned in the feedback. Overall, Bridge Investment Community Development showcases a robust financial and operational framework that supports its goals and community initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Bridge Investment Community Development legitimate?
Bridge Investment Community Development is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridge Investment Community Development 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.
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For more financial information, click here
Official website here: www.bridgeinvestmentcdc.org
What is the mission statement of Bridge Investment Community Development?
Bridge Investment Community Development's mission is focused on fostering job creation and economic growth in low- and moderate-income communities. They achieve this by providing community-based lending and investment. The organization's mission also includes supporting the creation and preservation of affordable housing for these communities' households. In essence, Bridge Investment Community Development aims to promote its objective by recruiting members committed to its mission and administering lending activities, which involve originating and servicing loans.
Official website here: www.bridgeinvestmentcdc.org
What is the revenue of Bridge Investment Community Development?
Bridge Investment Community Development's revenue in 2023 was $931,765.
Official website here: www.bridgeinvestmentcdc.org
Who are the executives of Bridge Investment Community Development and what are their salaries?
There 15 volunteers at Bridge Investment Community Development.
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Official website here: www.bridgeinvestmentcdc.org
Where can I find the form 990 for Bridge Investment Community Development?
Bridge Investment Community Development's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.bridgeinvestmentcdc.org
Learn more at the official website: www.bridgeinvestmentcdc.org
Mission Statement of Bridge Investment Community Development
Bridge Investment Community Development is an organization that is dedicated to fostering job creation and economic growth in low and moderate income communities. They achieve this by providing community-based lending and investment services. The mission of this nonprofit is to support the creation and preservation of affordable housing for low and moderate income households, contributing to the overall economic development of these communities. By recruiting members who share their commitment to this mission, Bridge Investment Community Development administers lending activities, including originating and servicing loans. This approach allows the organization to play a crucial role in promoting sustainable growth in underserved communities, ultimately improving the living standards and opportunities for its residents.
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Impact
July, 2024
Bridge Investment Community Development has a significant impact on low and moderate-income communities by supporting job creation and economic growth. Through community-based lending and investment initiatives, the organization plays a crucial role in fostering the development and preservation of affordable housing for households in need. By recruiting members dedicated to its mission and administering lending activities, Bridge Investment Community Development actively contributes to improving the economic well-being of underserved communities in Rock Island, IL.
This information is meant to be a general summary of Bridge Investment Community Development. 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 2023.
- Program Service Revenue: $98,727
- Gross Receipts: $947,893
Assets and Liabilities:
- Total Assets: $3,078,238
- Total Liabilities: $1,404,233
- Net Assets: $1,674,005
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME-CASH
Revenue
$280
INTEREST INCOME-LOANS
Revenue
$89,692
LOAN FEE REVENUE
Revenue
$7,331
MISC INCOME
Revenue
$1,279
RETURNED CHECK CHARGES
Revenue
$145
Organization Details
Founding Year
2014
Principal Officer
Kevin Schoonmaker
Website
www.bridgeinvestmentcdc.orgNTEE Category
Code: S30 - Community improvement
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