Bridgeway Capital Inc

Nonprofit profile at a glance

EIN
251635121
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Pittsburgh, PA, USA
Phone
4122012450
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Business and Industry

Official website

Reported finances

Revenue
$14,120,469
Expenses
$11,400,337
Assets
$133,234,504
Liabilities
$62,791,430

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • THOMAS BOGDEWIC (PRESIDENT & CEO)

Highest reported compensation

  • THOMAS BOGDEWIC (PRESIDENT & CEO): $283,409 total reported compensation
  • SCOTT LANGILL ASST SECRETARY (CHIEF IMPACT INVESTMENT OFFICER): $225,347 total reported compensation
  • DAWN SECKLER CHIEF STRATEGY (& DEVELOPMENT OFFICER): $186,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We combat injustices and advance opportunities by building capacity, investing capital, and developing underserved areas to grow businesses and revitalize places.

What it reported doing in 2024

Bridgeway capital's programs team leads a number of efforts that serve a wide range of small businesses and nonprofit organizations. In fy25, bridgeway provided support to 360 clients. The assistance came primarily in the form of one on one and cohort based services. For example, bridgeway executed a wide range of cohorts for varied emerging and established businesses, consisting of 14 total cohorts in seven locations in Ohio, West Virginia, and Pennsylvania. Included among them, the alliance for creative rural economies (acre) cohorts served groups of creative entrepreneurs from state college, oil city, and uniontown, while the business growth accelerator supported groups in Ohio's mahoning valley. Nwpamade was launched in partnership with pennwest edinboro's beehive network to support maker entrepreneurs in erie and crawford counties, while bridgeway's monmade program supported creatives in the greater pittsburgh area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 79
  • Accountability: 96
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $22.25 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 67.4%; rating input score 67; 14th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.3%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 11.69; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 81% of spending went to programs
  • Governance: 13 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $9.2M in reported program spending
  • Leadership: top reported pay $283K · 23 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $566K reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.