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Bridges Impact Foundation FY2020 filing

Tax-deductible

Boston, MA501(c)(3)Foundations & GrantmakersEIN 81-3815673Revenue $288K in FY2020

On file with the IRS125 High St Ste 220, 02110-2737 · Boston, MATax-exempt since Apr 2017Publicly supported charity — 170(b)(1)(A)(vi)

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To foster and support the development of Impact investing, social entrepreneurship, and other innovative funding mechanisms to effect social change by, among other activities, (a) creating and facilitating educational forums, trainings, workshops and programs, (b) conducting, collecting, supporting, publishing and disseminating research, (c) and developing and promoting collaborations, relationships and field-based programs.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$165K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $109K a year · 13% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$165K
to officers and key staff · 38% of spending
Concern: pay to officers and key staff is 38% of spending; over 30%.
Pt VII · Sec A
Cash reserves
18 mo
of spending, in cash
Looks good: 18.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $260K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$142K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$288K
-76% vs prior year
Spent
$439K
To programs
85%
Net assets
$533K
By yearFY2019–FY2024
Revenue
$288K
FY2020▼ -76%
Tap a bar for its year
Revenue by fiscal year
FY2019$1.2M
FY2020$288K
FY2021$402K
FY2022$1.2M
FY2023$846K
FY2024$1.3M
Expenses
$439K
FY2020▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2019$495K
FY2020$439K
FY2021$746K
FY2022$764K
FY2023$914K
FY2024$1.2M
Net assets
$533K
FY2020▼ -31%
Tap a bar for its year
Net assets by fiscal year
FY2019$768K
FY2020$533K
FY2021$189K
FY2022$615K
FY2023$547K
FY2024$652K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2017.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $373K Management & general 10% · $46K Fundraising 5% · $21K

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; $165K paid to officers and key staff.

Part VII, Section A · reportable compensation
Michael McCreless
Program Manager - Impact Frontier
$165,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Walsh
Treasurer
$0Pt VII · Sec A
Tasha Seitz
Board Member
$0Pt VII · Sec A

Michael McCreless’s $182K as Executive Director is at the 77th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020FY2019
Michael McCreless$182,225$170,981$165,000$165,000$165,000$123,750
Adwoa Asare$137,160$125,745————
Nao Sudo$115,087$115,450————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Bridges Impact Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fosters impact investing and social entrepreneurship through education, research, and collaboration for social change.

Questions for Bridges Impact Foundation

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Provided by the organization

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1 program · $373K · in their own filed words · FY2020
01

In 2020, the bridges impact foundation continued to sponsor three programs: the impact management project (imp); impact frontiers; and the mba impact investment network and training (the turner miint).

$373Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Builders Initiative FoundationFY2024$250K
Walske Charitable FoundationFY2024$10K
Total grants receivedfrom 2 funders$260K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$288K
Ln 12
Fees for servicesLn 2g$148K
Gifts and grantsLn 1h$140K
Other incomeLn 4–11$360
Money outPt IX
$439K
Ln 25
Programscol B$373K
Managementcol C$46K
Fundraisingcol D$21K
Owns and owesPt X
$533K
net assets · Ln 32
Cash and savingsLn 1–2$671K
Total assetsLn 16$675K
LiabilitiesLn 26$142K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$140K
Fees for servicesLn 2g$148K
Investment incomeLn 3$1
Other incomeLn 4–11$360
Total revenueLn 12$288K
Assets in detailPt X, end of year
CashLn 1$666K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$671K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$675K
LiabilitiesLn 26$142K
Net assetsLn 32$533K
OperationsPt I, VI
EmployeesI 55
VolunteersI 686
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$612K$671K
Land, buildings, equipmentLn 10c$2K$2K
Total assetsLn 16$825K$675K
LiabilitiesLn 26$57K$142K
Net assetsLn 32$768K$533K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$263K$246K$9K$9K
Pension plan contributionsLn 8$9K$8K$294$294
Other employee benefitsLn 9$10K$9K$325$325
Payroll taxesLn 10$19K$17K$601$601
Legal feesLn 11b$105$105
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$100K$76K$13K$11K
Office expensesLn 13$9K$3K$6K
OccupancyLn 16$3K$2K$695
TravelLn 17$4K$4K
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$468$468
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$439K$373K$46K$21K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.3M$1.2M$105K$652K 990 PDF
FY2023 $846K$914K−$68K$547K 990 PDF
FY2022 $1.2M$764K$426K$615K 990 PDF
FY2021 $402K$746K−$344K$189K 990 PDF
FY2020 Viewing $288K$439K−$151K$533K 990 PDF
FY2019 $1.2M$495K$685K$768K 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 FY2020 990 (6 parts)
Part I · Summary $288,144 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,033,738$140,000
I-9 Program service revenuePrior year $133,020$147,783
I-10 Investment incomePrior year $10$1
I-11 Other revenuePrior year $0$360
I-12 Total revenuePrior year $1,166,768$288,144
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $188,394$300,137
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $294,800$139,106
I-18 Total expensesPrior year $483,194$439,243
I-19 Revenue less expensesPrior year $683,574−$151,099
Part VI · Governance 2 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $288,144 across 6 lines filed
VIII-1f All other contributions, gifts and grants$140,000
VIII-1h Total contributions, gifts and grants$140,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $147,783$147,783
VIII-3 Investment incomeExcluded from tax $1$1
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $360$360
VIII-12 Total revenueRelated to mission $147,783 · Unrelated business $0 · Excluded from tax $361$288,144
Part IX · Statement of functional expenses $439,243 across 13 lines filed
IX-7 Other salaries and wagesPrograms $245,519 · Management $8,519 · Fundraising $8,519$262,557
IX-8 Pension plan contributionsPrograms $8,460 · Management $294 · Fundraising $294$9,048
IX-9 Other employee benefitsPrograms $9,366 · Management $325 · Fundraising $325$10,016
IX-10 Payroll taxesPrograms $17,314 · Management $601 · Fundraising $601$18,516
IX-11b Legal feesManagement $105$105
IX-11c Accounting feesManagement $15,236$15,236
IX-11g Other fees for servicesPrograms $75,625 · Management $13,344 · Fundraising $10,809$99,778
IX-13 Office expensesPrograms $2,789 · Management $6,173$8,962
IX-16 OccupancyPrograms $2,190 · Management $695$2,885
IX-17 TravelPrograms $3,959$3,959
IX-19 Conferences, conventions and meetingsPrograms $2,609$2,609
IX-22 Depreciation, depletion and amortizationManagement $468$468
IX-24 Other expenses (24a–d)Programs $5,104$5,104
IX-25 Total functional expensesPrograms $372,935 · Management $45,760 · Fundraising $20,548$439,243
Part X · Balance sheet $674,593 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $606,701$666,375
X-2 Savings and temporary cash investmentsStart of year $5,000$5,000
X-9 Prepaid expenses and deferred charges$1,581
X-10c Land, buildings and equipment, netStart of year $2,105$1,637
X-16 Total assetsStart of year $824,806$674,593
X-17 Accounts payable and accrued expensesStart of year $1,163$1,178
X-19 Deferred revenue$85,537
X-25 Other liabilitiesStart of year $55,855$54,819
X-26 Total liabilitiesStart of year $57,018$141,534
X-27 Net assets without donor restrictionsStart of year $318,637$220,430
X-28 Net assets with donor restrictionsStart of year $449,151$312,629
X-32 Total net assets or fund balancesStart of year $767,788$533,059
X-33 Total liabilities and net assetsStart of year $824,806$674,593
Part XI · Reconciliation of net assets $533,059 net assets at year end
XI-1 Total revenue$288,144
XI-2 Total expenses$439,243
XI-3 Revenue less expenses−$151,099
XI-4 Net assets at start of year$767,788
XI-9 Other changes in net assets−$83,630
XI-10 Net assets at end of year$533,059

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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