2024-02-14T09:37:34-06:00 2023-09-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2022-10-01 251635121 BRIDGEWAY CAPITAL INC BRID 4122012450 310 GRANT STREET 2800 PITTSBURGH PA 15219 THOMAS J BOGDEWIC PRESIDENT & CEO 4122012450 2024-02-13 1 THOMAS BOGDEWIC 999009999 0 SARAH R PIOT P01358891 4122613644 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THOMAS J BOGDEWIC 310 GRANT STREET 2800 PITTSBURGH PA 15219 20366208 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. 16 15 41 33 0 0 4815780 12482342 4579749 4937077 2051219 568005 0 0 11446748 17987424 499050 430980 0 0 3296492 3340873 0 0 300835 3685440 5520243 7480982 9292096 3965766 8695328 100800088 120062616 47517823 58551685 53282265 61510931 X WE COMBAT INJUSTICES AND ADVANCE OPPORTUNITIES BY BUILDING CAPACITY, INVESTING CAPITAL, AND DEVELOPING UNDERSERVED AREAS TO GROW BUSINESSES AND REVITALIZE PLACES. 0 0 5628960 430980 4893400 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. 108 BORROWERS RECEIVED LOANS TOTALING $25.4 MILLION, WHICH LEVERAGED $39.2 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 783 JOBS. 1621694 43677 BRIDGEWAY CAPITAL'S PROGRAMS TEAM LEADS A NUMBER OF EFFORTS THAT SERVE A WIDE RANGE OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS. IN FY23, BRIDGEWAY PROVIDED SUPPORT TO 131 MISSION-ALIGNED CLIENTS AND FACILITATED SUPPORT OF AN ADDITIONAL 53 BUSINESSES. 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 BUILDING GROWTH COHORTS SUPPORTED GROUPS OF EMERGING, BLACK-OWNED CONSTRUCTION BUSINESSES IN AND AROUND ERIE, PA AND PITTSBURGH, PA. FOR ONE-ON-ONE BUSINESS ASSISTANCE, 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. 7250654 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 0 0 0 0 1 1 1 1 0 0 1 126 0 1 41 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 15 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 208821 0 49295 RONALD A DONATELLI CHAIRPERSON 0.50 0.00 X X 0 0 0 MELVIN WASHINGTON VICE CHAIRPERSON 0.50 0.00 X X 0 0 0 LYNN DAVENPORT SECRETARY (EXITED 1/23) 0.50 0.00 X X 0 0 0 STEPHANIE DANGEL DIRECTOR/SECRETARY 0.50 0.00 X X 0 0 0 GEORGIA BERNER TREASURER 0.50 0.00 X X 0 0 0 DAN ADAMSKI DIRECTOR 0.50 0.00 X 0 0 0 THOMAS BAKAITUS DIRECTOR (ENTERED 7/23) 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 MELONIE JACKSON DIRECTOR 0.50 0.00 X 0 0 0 THOMAS KELLY DIRECTOR (EXITED 4/23) 0.50 0.00 X 0 0 0 DENIS MCLAUGHLIN DIRECTOR 0.50 0.00 X 0 0 0 THOMAS D MICHAEL DIRECTOR 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 0.50 0.00 X 0 0 0 JOSEPH WYNN DIRECTOR 0.50 0.00 X 0 0 0 SCOTT LANGILL ASSISTANT SECRETARY/CFO 38.00 2.00 X 165056 0 35006 JACOB SAULT CONTROLLER 36.00 4.00 X 110832 0 38774 EDWARD VARGO COMMERCIAL RE LENDING DIRECTOR (EXITED 6/23) 40.00 0.00 X 112884 0 11906 HOLLY KAY MANAGING DIRECTOR OF UNDERWRITING 40.00 0.00 X 117146 0 19457 ADAM KENNEY MANAGING DIRECTOR OF LENDING 40.00 0.00 X 112893 0 35714 SHAWN THOMAS LENDING TEAM LEADER 40.00 0.00 X 119021 0 28560 946653 0 218712 8 0 1 0 BK GENERAL CONTRACTING LLC 125 TECHN DR STE 101 CANONSBURG PA 15317 GENERAL CONTRACTING 248032 GRIFFITH MCCAGUE & HAPPEL PC 408 CEDAR AVENUE PITTSBURGH PA 15212 LEGAL 162714 PIPITONE GROUP 3933 PERRYSVILLE AVE PITTSBURGH PA 15214 PR SERVICES 131374 PARAMOUNT PURSUITS LLC 233 MERCHANT ST AMBRIDGE PA 15003 TECHNICAL ASSISTANCE PROVIDER 114620 BAKER NEWMAN NOYES PO BOX 507 PORTLAND ME 04112 TECHNOLOGY CONSULTING 106650 5 9837342 2645000 12482342 LOAN PROGRAM INTEREST 525990 4622804 4622804 LOAN PROGRAM FEES 525990 270596 270596 CBA/MONMADE PROGRAM REVENUE 525990 43677 43677 4937077 593122 593122 2353667 2354520 24264 -853 -24264 -25117 -25117 17987424 4937077 0 568005 X 430980 430980 1123072 519513 462901 140658 1400578 1025924 335854 38800 227265 153461 60086 13718 362187 254921 87294 19972 227771 152961 60543 14267 43906 15577 28329 119276 33502 85000 774 4750 4750 51215 51215 1492199 1301414 168947 21838 166758 41300 125414 44 77621 43806 29799 4016 195180 139953 45217 10010 277946 189229 72501 16216 35340 24231 7530 3579 60757 29701 31056 1024442 1024442 84932 57819 22310 4803 73438 51316 18081 4041 OTHER LOAN EXPENSE 176010 176010 PUBLICATIONS/DUES/SUBSC 35852 9306 26191 355 EQUIPMENT MAINTENANCE 10641 7088 2931 622 1589980 1568200 19408 2372 9292096 7250654 1740607 300835 421252 664675 7711967 12718219 1498715 4349912 1075447 874921 64922982 74276368 758029 846296 934366 158917 690896 775449 9830456 10252251 13110217 12615388 780127 2689137 100800088 120062616 887693 770632 13732 196972 220075 220075 6382155 2282632 40014168 52985092 0 2096282 47517823 58551685 X 48638151 53579142 4644114 7931789 53282265 61510931 100800088 120062616 X 8695328 178167 -644829 X X 0 1 X 1 1 1 X 5313434 8620611 4486823 4815780 12482342 35718990 5313434 8620611 4486823 4815780 12482342 35718990 7463750 28255240 607395 342684 233234 307822 593122 2084257 37803247 23156329 0.74740 0.60780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 1746 0 1 4750 6496 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 414427 42992 371435 519939 115925 404014 775449 INVESTMENT IN SUBSIDIARIES 12615388 C 12615388 OPERATING LEASE LIABILITY 2096282 2096282 X 18138640 178167 178167 17960473 51215 -24264 26951 17987424 9265145 24264 24264 9240881 51215 51215 9292096 PART IV, LINE 2B: BRIDGEWAY HAS A CONTRACT WITH THE MANCHESTER CITIZENS CORPORATION FOR BRIDGEWAY TO HOLD FUNDS GRANTED BY THE RICHARD KING MELLON FOUNDATION (RKMF) FOR A LOAN THAT HAS BEEN FUNDED. 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, 2023 AND 2022 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 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT -24,264. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT 24,264. 1 DININGWDIVAS LLC 1131 RAVINE STREET HOMESTEAD PA 15120 852077606 LLC 8150 0 N/A N/A SMALL BUSINESS STARTUP SUPPORT SALEM'S MARKET CENTRE AVE LLC 2923 PENN AVE PITTSBURGH PA 15201 873557636 LLC 50000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT NORTH SIDE PARTNERSHIP PROJECT 2610 MAPLE AVE PITTSBURGH PA 15214 471008826 501(C)(3) 45000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT AMANI CHRISTIAN COMMUNITY DEVELOPMENT CORPORATION 733 CLARISSA STREET PITTSBURGH PA 15219 251812849 501(C)(3) 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT THE GREENWOOD PLAN 213 SMITHFIELD ST SUITE 213 PITTSBURGH PA 15222 870876419 501(C)(3) 39000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT HAZELWOOD INITIATIVE INC 4901 2ND AVE STE 2ND PITTSBURGH PA 15207 251825591 501(C)(3) 76000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT THE CITIZENS SCIENCE LAB 1699 WASHINGTON RD STE 200 PITTSBURGH PA 15228 823944451 501(C)(3) 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT CHARLES STREET AREA CORP 2447 SNYDER ST PITTSBURGH PA 15214 474874259 501(C)(3) 40000 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT ETNA COMMUNITY ORGANIZATION 19 HIGH STREET PITTSBURGH PA 15223 834432964 501(C)(3) 32480 0 N/A N/A REAL ESTATE PRE-DEVELOPMENT PENNSYLVANIA SOLAR CENTER 1435 BEDFORD AVE SUITE 140 PITTSBURGH PA 15219 863234821 501(C)(3) 35000 0 N/A N/A OPERATIONS SUPPORT 8 2 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 208551 0 0 0 270 0 22950 0 26345 0 258116 0 0 0 SCOTT LANGILL ASSISTANT SECRETARY/CFO 164842 0 0 0 214 0 16454 0 18552 0 200062 0 0 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) CONTROLLER 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 SET BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. AT THE BEGINNING OF THE FISCAL YEAR, THE EXECUTIVE COMMITTEE SETS GOALS FOR PRESIDENT & CEO AS WELL AS REVIEWING PERFORMANCE RELATED TO GOALS FROM THE PRIOR FISCAL YEAR. THE SALARIES OF OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION ARE SET BY BRIDGEWAY'S PRESIDENT & CEO UPON ANNUAL REVIEW OF THE INDIVIDUAL'S PERFORMANCE COMPARED TO GOALS SET. THEY ARE ALSO PERIODICALLY COMPARED TO INDUSTRY SALARY SURVEYS. ADDITIONALLY, THE ORGANIZATION'S BOARD OF DIRECTORS APPROVES AN ANNUAL BUDGET THAT INCLUDES COMPENSATION AND BENEFITS IN SUMMARY FOR THE FULL ORGANIZATION. 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 OTHER: PROGRAM SERVICE EXPENSES 1,301,414. MANAGEMENT AND GENERAL EXPENSES 168,947. FUNDRAISING EXPENSES 21,838. TOTAL EXPENSES 1,492,199. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS OF SUBSIDIARIES -644,829. 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 43677 124779 BRIDGEWAY CAPITAL INC 727 THOMPSON LLC 310 GRANT STREET SUITE 2800 PITTSBURGH PA 15219 844431669 REAL ESTATE DEVELOPMENT PA 0 0 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 7322 2211959 1.00000 1 1 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 BRIDGEWAY DEVELOPMENT CORPORATION A 3734 INTEREST BILLED ON LOAN 15CCD CORPORATION B 150000 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION L 109453 CONTRACT BILLED 15CCD CORPORATION L 27171 CONTRACT BILLED BRIDGEWAY DEVELOPMENT CORPORATION Q 199303 CASH PAYMENT 15CCD CORPORATION Q 48840 CASH PAYMENT 15CCD CORPORATION R 20975 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION R 81928 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION S 79674 LOAN PRINCIPAL REPAID IN CASH BRIDGEWAY DEVELOPMENT CORPORATION K 247 RENT PAID IN CASH