The Bridge Fund of New York Inc

Nonprofit profile at a glance

EIN
133824852
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6467421465
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Emergency Assistance

Reported finances

Revenue
$2,569,061
Expenses
$3,453,401
Assets
$4,791,308
Liabilities
$336,410

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

Leadership & pay

14 people listed

Executive titles in this filing

  • FOSTER L BIRCH (VICE PRESIDENT)
  • PAUL H JENKEL (FORMER VICE PRESIDENT)
  • RICHARD D DITORO (PRESIDENT)
  • ANTHONY SABIA (EXECUTIVE DIRECTOR (OUTGOING))
  • MARIA L TOLEDO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIA L TOLEDO (EXECUTIVE DIRECTOR): $158,326 total reported compensation
  • LEONARD PERLSON (FINANCIAL CONTROLLER): $96,268 total reported compensation
  • ANTHONY SABIA (EXECUTIVE DIRECTOR (OUTGOING)): $46,903 total reported compensation

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

Overview

Mission

The prevention of homelessness. The bridge fund offers clients at risk of homelessness a combination of financial assistance through interest free loans or grants and financial counseling.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 79%; rating input score 79
  • Fundraising efficiency: $10.16 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.39; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 13.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 79% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $158K · 14 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.