Bridgewell Inc

Nonprofit profile at a glance

EIN
042296940
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Peabody, MA, USA
Phone
3398832115
Rating
86
Verdict
STRONG
Rating confidence
Standard

Official website

Reported finances

Revenue
$102,603,762
Expenses
$95,823,255
Assets
$68,930,682
Liabilities
$50,168,146

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

Leadership & pay

24 people listed

Executive titles in this filing

  • CHRISTOPHER TUTTLE (CEO)

Highest reported compensation

  • CHRISTOPHER TUTTLE (CEO): $337,647 total reported compensation
  • RICARDO DANCEL (PSYCHIATRIST): $261,573 total reported compensation
  • KENNETH HALKIN (CHIEF FINANCIAL OFFICER): $248,992 total reported compensation

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

Overview

Mission

Bridgewell inspires hope and empowers people experiencing life challenges to achieve their fullest potential.

What it reported doing in 2024

Outpatient services- provides diagnostic assessments, individual, family and group phychotherapy, medication management, psychiatric day treatment, and psychiatric emergency coordination for bridgewell and community residents.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 95
  • Accountability: 100
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.5%; rating input score 84
  • Program expense ratio: 89.4%; rating input score 89
  • Fundraising efficiency: $0.58 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th 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: 6.6%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.72; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 83.5% of revenue deployed · 89.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 7 filed program accomplishments · $85.7M in reported program spending
  • Leadership: top reported pay $338K · 24 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.