2025-02-26T14:30:22-06:00 2024-09-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2023-10-01 251635121 BRIDGEWAY CAPITAL INC BRID 4122012450 310 GRANT STREET 2800 PITTSBURGH PA 15219 THOMAS J BOGDEWIC PRESIDENT & CEO 4122012450 2025-02-17 1 0 SARAH R PIOT P01358891 4122613644 2023 2025-03-06 01:10:19Z THOMAS J BOGDEWIC 310 GRANT STREET 2800 PITTSBURGH PA 15219 21343486 0 X WWW.BRIDGEWAYCAPITAL.ORG X 1990 PA WE COMBAT INJUSTICES AND ADVANCE OPPORTUNITIES BY BUILDING CAPACITY, INVESTING CAPITAL, AND DEVELOPING UNDERSERVED AREAS TO GROW BUSINESSES AND REVITALIZE PLACES. 14 13 44 20 0 0 12482342 11085932 4937077 5327555 568005 1062411 0 0 17987424 17475898 430980 267156 0 0 3340873 3797627 0 0 345115 5520243 6851976 9292096 10916759 8695328 6559139 120062616 131718778 58551685 63685855 61510931 68032923 X WE COMBAT INJUSTICES AND ADVANCE OPPORTUNITIES BY BUILDING CAPACITY, INVESTING CAPITAL, AND DEVELOPING UNDERSERVED AREAS TO GROW BUSINESSES AND REVITALIZE PLACES. 0 0 6815257 267156 5263450 LENDING BY BRIDGEWAY CAPITAL BENEFITED LOW-INCOME PEOPLE AND ASSISTED IN THE FORMATION AND GROWTH OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS IN LOW- TO MODERATE-INCOME COMMUNITIES ACROSS 15 COUNTIES IN WESTERN PENNSYLVANIA AND PARTS OF NORTHERN WEST VIRGINIA AND EASTERN OHIO. 76 BORROWERS RECEIVED LOANS TOTALING $16 MILLION, WHICH LEVERAGED$3 MILLION IN ADDITIONAL FINANCING. BORROWERS RANGED FROM ENTREPRENEURS STARTING THEIR FIRST BUSINESS TO ESTABLISHED BUSINESSES EXPANDING OPERATIONS AND DEVELOPING THEIR JOB BASE, TO NON-PROFITS PROVIDING CRITICAL SOCIAL SERVICES AND ORGANIZATIONS FOCUSED ON REVITALIZING DISTRESSED COMMUNITIES. THE ECONOMIC IMPACT OF THIS LENDING IS PROJECTED TO HELP CREATE OR RETAIN 533 JOBS. 1723214 64105 BRIDGEWAY CAPITAL'S PROGRAMS TEAM LEADS A NUMBER OF EFFORTS THAT SERVE A WIDE RANGE OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS. IN FY24, BRIDGEWAY PROVIDED SUPPORT TO 375 CLIENTS WITH 92 PERCENT MISSION-ALIGNMENT. 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. THE ALLIANCE FOR CREATIVE RURAL ECONOMIES (ACRE) COHORTS SERVED GROUPS OF CREATIVE ENTREPRENEURS FROM WHEELING, WV, JOHNSTOWN, PA, GREENSBURG, PA AND NEW KENSINGTON, PA. WHILE THE EMERGING CONTRACTOR AND DEVELOPER ACCELERATORS SUPPORTED GROUPS OF EMERGING CONSTRUCTION AND/OR REAL ESTATE BUSINESSES IN AND AROUND ERIE, PA AND PITTSBURGH, PA. FOR ONE-ON-ONE BUSINESS ASSISTANCE, (CONTINUED ON SCHEDULE O) THE ENTREPRENEURSHIP HUB CONTINUED TO DELIVER A HIGH VOLUME OF GUIDANCE TO LENDING PROSPECTS AND CURRENT BORROWERS THROUGH A NETWORK OF SKILLED CONSULTANTS FUNDED THROUGH AN SBA MICROLOAN TA GRANT. 8538471 1 1 0 1 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 104 0 1 44 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 PA X THOMAS J BOGDEWIC 4122012450 310 GRANT STREET 2800 PITTSBURGH PA 15219 X THOMAS BOGDEWIC PRESIDENT & CEO 38.00 2.00 X X 216055 0 51640 DAN ADAMSKI DIRECTOR (EXIT 1/24) 0.50 0.00 X 0 0 0 THOMAS BAKAITUS DIRECTOR 0.50 0.00 X 0 0 0 JA'RON BRIDGES DIRECTOR 0.50 0.00 X 0 0 0 EARL BUFORD DIRECTOR 0.50 0.00 X 0 0 0 DENIS MCLAUGHLIN DIRECTOR 0.50 0.00 X 0 0 0 THOMAS D MICHAEL DIRECTOR (EXIT 4/24) 0.50 0.00 X 0 0 0 TAMMY RIBAR DIRECTOR 0.50 0.00 X 0 0 0 MORTON STANFIELD JR DIRECTOR 0.50 0.00 X 0 0 0 DERRICK WILSON DIRECTOR (EXIT 1/24) 0.50 0.00 X 0 0 0 JOSEPH WYNN DIRECTOR 0.50 0.00 X 0 0 0 YVONNE COOK DIRECTOR (ENTER 1/24) 0.50 0.00 X 0 0 0 MELVIN WASHINGTON CHAIRPERSON (AS OF 4/24)/VICE CHAIR (THRU 4/24) 0.50 0.00 X X 0 0 0 MELONIE JACKSON VICE CHAIR (AS OF 7/24)/DIRECTOR (THRU 7/24) 0.50 0.00 X X 0 0 0 GEORGIA BERNER TREASURER 0.50 0.00 X X 0 0 0 STEPHANIE DANGEL SECRETARY 0.50 0.00 X X 0 0 0 RONALD A DONATELLI DIRECTOR (AS OF 4/24)/CHAIRPERSON (THRU 4/24) 0.50 0.00 X X 0 0 0 SCOTT LANGILL ASST SECRETARY CHIEF IMPACT INVESTMENT OFFICER 38.00 2.00 X 175970 0 34923 JACOB SAULTCONTROLLERTHRU 924 CHIEF FINANCIAL OFFICER (AS OF 9/24) 38.00 2.00 X 122292 0 38398 ADAM KENNEY CHIEF PROGRAMS OFFICER 40.00 0.00 X 119092 0 35380 SHAWN THOMAS LENDING TEAM LEADER 40.00 0.00 X 128483 0 29159 HOLLY KAY MANAGING DIRECTOR OF UNDERWRITING 40.00 0.00 X 123463 0 19052 DAWN SECKLER CHIEF STRATEGY & DEVELOPMENT OFFICER 40.00 0.00 X 115775 0 24408 JENNIE SAPSARA DIRECTOR OF OPERATIONS 40.00 0.00 X 104065 0 16903 1105195 0 249863 10 0 1 0 IVYTEK INC 450 STATE ROAD 13 NORTH SUITE 106 SAINT JOHNS FL 32259 SOFTWARE DEVELOPER 225459 BAKER NEWMAN NOYES PO BOX 507 PORTLAND ME 04112 TECHNOLOGY CONSULTING 191890 GRIFFITH MCCAGUE & HAPPEL PC 408 CEDAR AVENUE PITTSBURGH PA 15212 LEGAL 170786 PARAMOUNT PURSUITS LLC 233 MERCHANT ST AMBRIDGE PA 15003 TECHNICAL ASSISTANCE PROVIDER 135490 PIPITONE GROUP 3933 PERRYSVILLE AVE PITTSBURGH PA 15214 PR SERVICES 131575 6 1035206 10050726 1811779 11085932 LOAN PROGRAM INTEREST 525990 5008298 5008298 LOAN PROGRAM FEES 525990 255152 255152 CBA/MONMADE PROGRAM REVENUE 525990 64105 64105 5327555 1025818 1025818 3904181 3867588 36593 36593 36593 17475898 5327555 0 1062411 X 267156 267156 1232528 578306 473026 181196 1694246 1248586 421250 24410 221413 147290 60449 13674 405472 286062 94991 24419 243968 162902 65366 15700 18832 7353 11479 87967 6593 80727 647 5100 5100 53924 53924 1425987 1213391 196675 15921 142988 16009 126979 57084 28688 25187 3209 284986 197643 71185 16158 284828 190756 76700 17372 69219 51706 9827 7686 194865 29845 165020 1666632 1666632 124414 83323 33507 7584 77895 53165 20173 4557 ALLOWANCE FOR LOAN LOSS 2049615 2049615 OTHER LOAN EXPENSE 222647 222647 PUBLICATIONS/DUES/SUBSC 35015 6796 24694 3525 EQUIPMENT MAINTENANCE 6603 4412 1796 395 43375 19595 20218 3562 10916759 8538471 2033173 345115 664675 600935 12718219 22400260 4349912 1616754 874921 918694 74276368 77469373 846296 883087 949933 277479 775449 672454 10252251 10494516 12615388 14120655 2689137 2542050 120062616 131718778 770632 1179208 196972 111547 220075 70375 2282632 2489075 52985092 57864442 2096282 1971208 58551685 63685855 X 53579142 65805643 7931789 2227280 61510931 68032923 120062616 131718778 X 6559139 552723 -589870 X X 0 1 X 1 1 1 X 8620611 4486823 4815780 12482342 11085933 41491489 8620611 4486823 4815780 12482342 11085933 41491489 6187114 35304375 342684 233234 307822 593122 1025818 2502680 43994169 24104226 0.80250 0.74740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 1350 0 1 3750 5100 0 PART II-B, LINE 1: WORK TO STRENGTHEN THE BASE OF SUPPORT FOR THE SMALL BUSINESS ADMINISTRATION'S MICROLOAN PROGRAM IN CONGRESS AND TO DEVELOP AND PRIORITIZE A LIST OF ISSUES TO BE ADDRESSED IN REAUTHORIZING THE SMALL BUSINESS ACT. MEETINGS WITH PA LEGISLATORS WITH OTHER CDFI'S IN THE COMMONWEALTH TO STRENGTHEN THE POSITION OF CDFI'S STATEWIDE. 0 1 X 414947 114084 300863 534986 163395 371591 672454 INVESTMENT IN SUBSIDIARIES 12271387 C PARTNERSHIP INVESTMENT 1849268 F 14120655 OPERATING LEASE LIABILITY 1971208 1971208 X 17974697 552723 552723 17421974 53924 53924 17475898 11760438 897603 897603 10862835 53924 53924 10916759 PART IV, LINE 2B: BRIDGEWAY HAS A CONTRACT TO HOLD FUNDS GRANTED BY THE RICHARD KING MELLON FOUNDATION (RKMF) TO MAKE PRE-DEVELOPMENT RECOVERABLE GRANTS TO NON-PROFITS. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (CODIFICATION) TOPIC ON INCOME TAXES, WHICH PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION'S CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AT SEPTEMBER 30, 2024 AND 2023 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION WOULD ACCRUE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE, IF ANY WERE TO BE INCURRED. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR FISCAL YEARS BEFORE 2021. PART XII, LINE 2D - OTHER ADJUSTMENTS: ASC 326 ADOPTION (PART OF PROVISION FOR LOAN LOSSES) 897,603. 1 PENNSYLVANIA SOLAR CENTER 1435 BEDFORD AVE SUITE 140 PITTSBURGH PA 15219 863234821 501(C)(3) 38565 0 N/A N/A OPERATIONS SUPPORT FRANKIE'S PALACE LLC 5200 KINCAID ST PITTSBURGH PA 15224 843917874 18616 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT YOUNG BLACK MOTIVATED KINGS & QUEENS 1835 CENTRE AVENUE SUITE 270 PITTSBURGH PA 15219 851852220 501(C)(3) 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT NESMITH DINER & CATERING LLC 442 ADAMS ST ROCHESTER PA 15074 822101968 10475 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT MILLVALE BOROUGH DEVELOPMENT CORP 216 NORTH AVE MILLVALE PA 15209 281823770 501(C)(3) 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT ALLEN ENTERPRISES & DEVELOPMENT LLC 740 GRAMAC LANE PITTSBURGH PA 15235 872025370 39500 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT GRINTEL CAPITAL LLC 1810 WEBSTER AVE REAR PITTSBURGH PA 15219 463327091 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT HALF THE BATTLE LLC 700 RIVER AVE PITTSBURGH PA 15212 871682871 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT 3 5 PART I, LINE 2: GRANT INFORMATION IS DOCUMENTED IN A DATABASE CONTAINING DETAILED INFORMATION ABOUT THE RECIPIENT, THEIR BUSINESS, AND THE INTERNAL APPROVAL PROCESS AND SUPPORT SUBSTANTIATING THE GRANT. GRANT RECIPIENTS ARE REVIEWED INTERNALLY BY SENIOR MANAGEMENT AND OTHER RELEVANT STAFF FOR ELIGIBILITY. RECIPIENTS REPORT BACK ON HOW THEY SPENT THE FUNDS PROVIDED TO THEM, AS WELL AS ON THE PROGRESS OF THOSE PROJECTS. X X X 0 0 0 0 0 0 0 0 0 THOMAS BOGDEWIC PRESIDENT & CEO 215785 0 0 0 270 0 21228 0 30412 0 267695 0 0 0 SCOTT LANGILL ASST SECRETARY CHIEF IMPACT INVESTMENT OFFICER 175614 0 0 0 356 0 15599 0 19324 0 210893 0 0 0 JACOB SAULTCONTROLLERTHRU 924 CHIEF FINANCIAL OFFICER (AS OF 9/24) 122205 0 0 0 87 0 10529 0 27869 0 160690 0 0 0 SHAWN THOMAS LENDING TEAM LEADER 128257 0 0 0 226 0 10562 0 18597 0 157642 0 0 0 ADAM KENNEY CHIEF PROGRAMS OFFICER 118955 0 0 0 137 0 10106 0 25274 0 154472 0 0 0 X 1 1811779 COST 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR POLICY PLANNING IN CONSULTATION WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, AS WELL AS FOR ONGOING EVALUATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION B, LINE 11B BRIDGEWAY CAPITAL'S (BRIDGEWAY) CHIEF FINANCIAL OFFICER GATHERS INFORMATION FOR THE FORM 990 FROM THE FINANCIAL SYSTEM AND PROVIDES THE INFORMATION TO THE INDEPENDENT AUDIT FIRM TO PREPARE A DRAFT OF THE FORM 990. THE CHIEF FINANCIAL OFFICER AND PRESIDENT OF BRIDGEWAY REVIEW THE DRAFT FOR ACCURACY AND CHANGES ARE MADE AS APPROPRIATE. THE FINAL FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BRIDGEWAY BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C BRIDGEWAY DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM TO BOARD MEMBERS EACH YEAR FOR COMPLETION. SENIOR MANAGEMENT REVIEWS THE FORMS TO ASSESS AND ADDRESS, IF NECESSARY, ANY CONFLICTS THAT ARE DISCLOSED. CONFLICTS ARE BROUGHT TO THE BOARD'S ATTENTION AND DISCUSSED OPENLY AT BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF BRIDGEWAY'S PRESIDENT & CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. AT THE BEGINNING OF THE FISCAL YEAR, THE EXECUTIVE COMMITTEE SETS GOALS FOR THE PRESIDENT & CEO AND REVIEWS THEIR PERFORMANCE RELATED TO GOALS FROM THE PRIOR FISCAL YEAR. TO ENSURE FAIR COMPENSATION, SALARY SURVEYS AND REVIEWS OF SIMILAR ORGANIZATIONS' FORM 990 ARE PERIODICALLY CONDUCTED. ALL DECISIONS REGARDING BONUSES AND SALARY INCREASES ARE DOCUMENTED IN MINUTES OF THE BOARD EXECUTIVE COMMITTEE AND INTERNAL RECORDS. FOR OTHER OFFICERS OR KEY EMPLOYEES, THEIR SALARIES ARE SET BY BRIDGEWAY'S PRESIDENT & CEO BASED ON AN ANNUAL REVIEW OF THEIR PERFORMANCE AGAINST SET GOALS. THESE SALARIES ARE ALSO PERIODICALLY COMPARED TO INDUSTRY SALARY SURVEYS AND FORMS 990 OF SIMILAR ORGANIZATIONS. THE ORGANIZATION'S BOARD OF DIRECTORS APPROVES AN ANNUAL BUDGET THAT INCLUDES A SUMMARY OF COMPENSATION AND BENEFITS FOR THE ENTIRE ORGANIZATION. ANY BONUSES AND SALARY INCREASES APPROVED BY THE PRESIDENT & CEO FOR OTHER OFFICERS AND KEY EMPLOYEES ARE DOCUMENTED IN THE MINUTES OF THE BOARD EXECUTIVE COMMITTEE AND INTERNAL RECORDS. FORM 990, PART VI, SECTION C, LINE 19 BRIDGEWAY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES WITHIN 30 DAYS UPON WRITTEN REQUEST AND IMMEDIATELY IN THE CASE OF IN-PERSON REQUESTS. FORM 990, PART VII, TRUSTEE EMERITUS: MARK PETERSON SERVES ON THE BRIDGEWAY CAPITAL, INC. BOARD OF DIRECTORS AS DIRECTOR EMERITUS BUT HAS NO VOTING POWERS AT THE MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PART IX, LINE 11G TECHNICAL ASSISTANCE: PROGRAM SERVICE EXPENSES 918,716. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 918,716. IT CONSULTING: PROGRAM SERVICE EXPENSES 151,225. MANAGEMENT AND GENERAL EXPENSES 31,878. FUNDRAISING EXPENSES 5,271. TOTAL EXPENSES 188,374. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 2,800. MANAGEMENT AND GENERAL EXPENSES 161,618. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 164,418. OTHER: PROGRAM SERVICE EXPENSES 140,650. MANAGEMENT AND GENERAL EXPENSES 3,179. FUNDRAISING EXPENSES 10,650. TOTAL EXPENSES 154,479. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS OF SUBSIDIARIES -589,870. FORM 990, PART XII, LINE 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT: THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. ADDITIONALLY, THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MONMADE LLC 310 GRANT STREET SUITE 2800 PITTSBURGH PA 15219 852849256 BUSINESS DEVELOPMENT PA 64105 47595 BRIDGEWAY CAPITAL INC BRIDGEWAY DEVELOPMENT CORPORATION 310 GRANT STREET SUITE 2800 PITTSBURGH PA 15219 800842724 REAL ESTATE DEVELOPMENT PA 501(C)(2) BRIDGEWAY CAPITAL INC 1 15CCD CORPORATION 310 GRANT STREET SUITE 2800 PITTSBURGH PA 15219 471471501 REAL ESTATE DEVELOPMENT PA BRIDGEWAY CAPITAL INC C 10216 2151683 1.00000 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 BRIDGEWAY DEVELOPMENT CORPORATION A 2934 INTEREST BILLED ON LOAN BRIDGEWAY DEVELOPMENT CORPORATION B 230870 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION L 139003 CONTRACT BILLED BRIDGEWAY DEVELOPMENT CORPORATION Q 168586 CASH PAYMENT 15CCD CORPORATION Q 51347 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION S 79674 LOAN PRINCIPAL REPAID IN CASH BRIDGEWAY DEVELOPMENT CORPORATION B 230870 CASH PAYMENT