Bridges Foundation INC FY2021 filing

Tax-deductible

Memphis, TN501(c)(3)EIN 63-1019523Revenue $411K in FY2021

On file with the IRS477 N 5th St, 38105-1869 · Memphis, TNTax-exempt since Mar 1985Publicly supported charity — 170(b)(1)(A)(vi)

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Provide educational programs for youth. The sole purpose of this organization is to assist in funding the non-profit activities of Bridges USA, INC.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $588K a year · 117% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$986K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$411K
Spent
$838K
To programs
95%
Net assets
$23.2M
By yearFY2021–FY2025
Revenue
$411K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$411K
FY2022$523K
FY2023$322K
FY2024$709K
FY2025$540K
Expenses
$838K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$838K
FY2022$1.1M
FY2023$1.1M
FY2024$1.2M
FY2025$1.1M
Net assets
$23.2M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$23.2M
FY2022$18.7M
FY2023$18.5M
FY2024$18.6M
FY2025$20.0M

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $800K Management & general 5% · $38K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/CFO
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bridges Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds educational programs for youth, supporting Bridges USA's non-profit activities.

Questions for Bridges Foundation INC

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Provided by the organization

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1 program · $800K · in their own filed words · FY2020
01

The foundation was organized and operated as a type ii supporting organization described in section 509(a)(1) or section 509(a)(2) exclusively for the benefit of and to assist in carrying out the purpose of youth education through bridges, U.S.A., inc.

$800Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $4.9M · 2020–2024
Bridges USA INCTN · FY2024$998,093
Bridges USA INCTN · FY2023$1,100,000
Bridges USA INCTN · FY2022$986,689
Bridges USA INCTN · FY2021$977,971
Bridges USA INCTN · FY2020$800,452

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$411K
Ln 12
Investment incomeLn 3$390K
Gifts and grantsLn 1h$11K
Other incomeLn 4–11$10K
Money outPt IX
$838K
Ln 25
Programscol B$800K
Managementcol C$38K
Owns and owesPt X
$23.2M
net assets · Ln 32
Cash and savingsLn 1–2$29K
Total assetsLn 16$24.2M
LiabilitiesLn 26$986K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11K
Investment incomeLn 3$390K
Other incomeLn 4–11$10K
Gains on assetsLn 7−$233K
Total revenueLn 12$411K
Assets in detailPt X, end of year
CashLn 1$29K
Cash and savings togetherLn 1–2$29K
InvestmentsLn 11–13$24.0M
Other assetsLn 15$0
Total assetsLn 16$24.2M
LiabilitiesLn 26$986K
Net assetsLn 32$23.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$20K$29K
InvestmentsLn 11–13$18.5M$24.0M
Total assetsLn 16$18.7M$24.2M
LiabilitiesLn 26$722K$986K
Net assetsLn 32$18.0M$23.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$800K$800K
Investment management feesLn 11f$26K$26K
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$838K$800K$38K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $540K$1.1M−$608K$20.0M 990 PDF
FY2024 $709K$1.2M−$522K$18.6M 990 PDF
FY2023 $322K$1.1M−$808K$18.5M 990 PDF
FY2022 $523K$1.1M−$577K$18.7M 990 PDF
FY2021 Viewing $411K$838K−$427K$23.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $410,959 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,149$11,023
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $680,523$389,792
I-11 Other revenuePrior year $0$10,144
I-12 Total revenuePrior year $704,672$410,959
I-13 Grants and similar amounts paidPrior year $958,555$800,452
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $127,995$37,727
I-18 Total expensesPrior year $1,086,550$838,179
I-19 Revenue less expensesPrior year −$381,878−$427,220
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $410,959 across 6 lines filed
VIII-1f All other contributions, gifts and grants$11,023
VIII-1h Total contributions, gifts and grants$11,023
VIII-3 Investment incomeExcluded from tax $622,967$622,967
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$233,175−$233,175
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business −$7,183 · Excluded from tax $17,327$10,144
VIII-12 Total revenueRelated to mission $0 · Unrelated business −$7,183 · Excluded from tax $407,119$410,959
Part IX · Statement of functional expenses $838,179 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $800,452$800,452
IX-11f Investment management feesManagement $25,777$25,777
IX-24 Other expenses (24a–d)Management $11,950$11,950
IX-25 Total functional expensesPrograms $800,452 · Management $37,727 · Fundraising $0$838,179
Part X · Balance sheet $24,162,344 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $19,513$29,080
X-3 Pledges and grants receivableStart of year $115,899$92,450
X-11 Publicly traded securitiesStart of year $18,521,006$24,040,814
X-15 Other assetsStart of year $37,477$0
X-16 Total assetsStart of year $18,693,895$24,162,344
X-25 Other liabilitiesStart of year $722,177$986,034
X-26 Total liabilitiesStart of year $722,177$986,034
X-27 Net assets without donor restrictionsStart of year $1,381,945$1,488,026
X-28 Net assets with donor restrictionsStart of year $16,589,773$21,688,284
X-32 Total net assets or fund balancesStart of year $17,971,718$23,176,310
X-33 Total liabilities and net assetsStart of year $18,693,895$24,162,344
Part XI · Reconciliation of net assets $23,176,310 net assets at year end
XI-1 Total revenue$410,959
XI-2 Total expenses$838,179
XI-3 Revenue less expenses−$427,220
XI-4 Net assets at start of year$17,971,718
XI-5 Net unrealized gains (losses) on investments$5,631,812
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$23,176,310

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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