Bridges Academy INC FY2023 filing

Tax-deductible

Studio City, CA501(c)(3)Since 1998EducationEIN 95-4659439Revenue $12.8M in FY2023

On file with the IRSbridges.edu3921 Laurel Canyon Blvd, 91604-3710 · Studio City, CATax-exempt since Nov 2000School — 170(b)(1)(A)(ii)

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Bridges Academy is dedicated to understanding and educating gifted and highly gifted students with learning differences (twice-exceptional or 2e students) and fostering a successful academic and social experience for our students and the broader community. (continued on schedule o)

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$1.0M 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

FY2023 · 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
2 of 5
filings with a surplus
Average deficit $57K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 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
$1.0M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $101K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$17.0M
103% of total assets
Concern: liabilities are 103% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 15 voting members
Looks good: 13 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.8M
+18% vs prior year
Spent
$14.2M
To programs
85%
Net assets
−$459K
By yearFY2020–FY2024
Revenue
$12.8M
FY2023▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$9.3M
FY2021$10.8M
FY2022$10.9M
FY2023$12.8M
FY2024$13.0M
FY2024$10.9M
Expenses
$14.2M
FY2023▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$9.4M
FY2021$9.7M
FY2022$10.6M
FY2023$14.2M
FY2024$13.2M
FY2024$11.2M
Net assets
−$459K
FY2023▼ -149%
Tap a bar for its year
Net assets by fiscal year
FY2020−$614K
FY2021$443K
FY2022$943K
FY2023−$459K
FY2024−$585K
FY2024−$1.0M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Nov 2000.

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% · $12.1M Management & general 12% · $1.7M Fundraising 3% · $450K

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

23 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Head of School (la and Online)
$250,697Pt VII · Sec A
Associate Head of School
$117,484Pt VII · Sec A
Interim Ms Director
$109,486Pt VII · Sec A
Director of Admissions
$106,232Pt VII · Sec A
Director of Counseling
$104,149Pt VII · Sec A
Business Manager
$99,207Pt VII · Sec A
Assistant Head of School (seattle)
$88,301Pt VII · Sec A
Head of School (la and Online)
$85,071Pt VII · Sec A

Mark Long’s $283K as CEO/Interim Head of School is at the 61st percentile of top reported officer pay among 3683 $10–100M education 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Mark Long$283,305$159,792————
Carl Sabatino——$250,697$243,639$232,289$205,178
Keri Borzello—$206,242$85,071———
Jennifer Allen—$158,239$88,301———
Anna Schaerf$147,611$118,033$104,149———
Deborah Lazer$125,766—————
Anthony Vo$122,407$107,378$99,207$94,291$91,528$80,988
Christopher R Weibe——$117,484$113,834$102,935—

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.

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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 15aYes
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Helps students succeed academically and socially with small classes and tailored teaching.

Provided by the organization

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1 program · $12.1M · in their own filed words · FY2022
01

Bridges academy is a day school with two campuses located in studio city, california, and seattle, washington that educates a diverse group of 217 gifted students (grades 4-12) with a range of strengths, interests, and learning differences. We refer to these students as twice-exceptional or 2e.

$12.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 5 funders →
Grants paid · 7 grants · $7.1M · 2019–2024
Trillium AcademyWA · FY2024$1,062,449
Unitemized GrantFY2024$953,752
Unitemized GrantFY2023$1,009,110
Unitemized GrantFY2022$1,167,044
Unitemized GrantFY2021$1,080,189
Unitemized GrantFY2020$874,647
Unitemized GrantFY2019$934,422

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$12.8M
Ln 12
Fees for servicesLn 2g$10.8M
Gifts and grantsLn 1h$1.8M
Other incomeLn 4–11$229K
Money outPt IX
$14.2M
Ln 25
Programscol B$12.1M
Managementcol C$1.7M
Fundraisingcol D$450K
Owns and owesPt X
−$459K
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$16.5M
LiabilitiesLn 26$17.0M
PeoplePt VI, VII
23
listed · VII A
PaidVII A9
Voting boardVI 1a15
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Fees for servicesLn 2g$10.8M
Investment incomeLn 3$42K
Other incomeLn 4–11$229K
Total revenueLn 12$12.8M
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$3.1M
InvestmentsLn 11–13$1.0M
Land, buildings, equipmentLn 10c$11.1M
Other assetsLn 15$934K
Total assetsLn 16$16.5M
LiabilitiesLn 26$17.0M
Net assetsLn 32−$459K
OperationsPt I, VI
EmployeesI 593
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$4.9M$3.1M
InvestmentsLn 11–13$1.0M
Land, buildings, equipmentLn 10c$11.4M$11.1M
Total assetsLn 16$16.7M$16.5M
LiabilitiesLn 26$15.7M$17.0M
Net assetsLn 32$943K−$459K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.2M$1.2M
Pay of current officers, directors and key staffLn 5$647K$457K$171K$20K
Other salaries and wagesLn 7$7.6M$6.6M$742K$283K
Pension plan contributionsLn 8$274K$238K$25K$10K
Other employee benefitsLn 9$912K$785K$93K$34K
Payroll taxesLn 10$655K$559K$72K$24K
Legal feesLn 11b$19K$15K$4K$569
Accounting feesLn 11c$37K$37K
Other fees for servicesLn 11g$27K$20K$6K$797
Advertising and promotionLn 12$15K$12K$3K$456
Office expensesLn 13$154K$117K$32K$5K
OccupancyLn 16$409K$311K$86K$12K
Conferences, conventions and meetingsLn 19$3K$3K$721$103
InterestLn 20$432K$328K$91K$13K
Depreciation, depletion and amortizationLn 22$196K$149K$41K$6K
InsuranceLn 23$106K$81K$22K$3K
Other expenses (24a–d)Ln 24$1.5M$1.2M$255K$36K
All other expensesLn 24e$74K$65K$8K$1K
Total functional expensesLn 25$14.2M$12.1M$1.7M$450K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $13.0M$13.2M−$203K−$585K 990 PDF
FY2023 Viewing $12.8M$14.2M−$1.4M−$459K 990 PDF
FY2022 $10.9M$10.6M$315K$943K 990 PDF
FY2021 $10.8M$9.7M$1.1M$443K 990 PDF
FY2020 $9.3M$9.4M−$30K−$614K 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 FY2023 990 (6 parts)
Part I · Summary $12,817,873 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,355,353$1,772,267
I-9 Program service revenuePrior year $9,363,736$10,774,780
I-10 Investment incomePrior year $1,526$42,302
I-11 Other revenuePrior year $180,468$228,524
I-12 Total revenuePrior year $10,901,083$12,817,873
I-13 Grants and similar amounts paidPrior year $1,080,189$1,167,044
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,498,485$10,067,077
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,007,573$3,007,374
I-18 Total expensesPrior year $10,586,247$14,241,495
I-19 Revenue less expensesPrior year $314,836−$1,423,622
Part VI · Governance 13 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $12,817,873 across 8 lines filed
VIII-1f All other contributions, gifts and grants$1,772,267
VIII-1h Total contributions, gifts and grants$1,772,267
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,774,780$10,774,780
VIII-3 Investment incomeExcluded from tax $42,302$42,302
VIII-6 Net rental income or lossExcluded from tax $111,190$111,190
VIII-8 Net income from fundraising eventsExcluded from tax $46,308$46,308
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $71,026$71,026
VIII-12 Total revenueRelated to mission $10,774,780 · Unrelated business $0 · Excluded from tax $270,826$12,817,873
Part IX · Statement of functional expenses $14,241,495 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $1,167,044$1,167,044
IX-5 Pay of current officers, directors and key staffPrograms $456,831 · Management $170,538 · Fundraising $19,751$647,120
IX-7 Other salaries and wagesPrograms $6,553,644 · Management $742,362 · Fundraising $283,339$7,579,345
IX-8 Pension plan contributionsPrograms $238,271 · Management $25,344 · Fundraising $10,301$273,916
IX-9 Other employee benefitsPrograms $784,735 · Management $93,355 · Fundraising $33,927$912,017
IX-10 Payroll taxesPrograms $558,768 · Management $71,753 · Fundraising $24,158$654,679
IX-11b Legal feesPrograms $15,131 · Management $3,565 · Fundraising $569$19,265
IX-11c Accounting feesManagement $37,433$37,433
IX-11g Other fees for servicesPrograms $20,181 · Management $5,576 · Fundraising $797$26,554
IX-12 Advertising and promotionPrograms $11,547 · Management $3,191 · Fundraising $456$15,194
IX-13 Office expensesPrograms $116,977 · Management $32,322 · Fundraising $4,617$153,916
IX-16 OccupancyPrograms $311,084 · Management $85,958 · Fundraising $12,279$409,321
IX-19 Conferences, conventions and meetingsPrograms $2,611 · Management $721 · Fundraising $103$3,435
IX-20 InterestPrograms $328,477 · Management $90,763 · Fundraising $12,966$432,206
IX-22 Depreciation, depletion and amortizationPrograms $148,800 · Management $41,116 · Fundraising $5,874$195,790
IX-23 InsurancePrograms $80,729 · Management $22,307 · Fundraising $3,187$106,223
IX-24 Other expenses (24a–d)Programs $1,242,632 · Management $254,800 · Fundraising $36,400$1,533,832
IX-24e All other expensesPrograms $65,066 · Management $7,997 · Fundraising $1,142$74,205
IX-25 Total functional expensesPrograms $12,102,528 · Management $1,689,101 · Fundraising $449,866$14,241,495
Part X · Balance sheet $16,532,468 assets, 17 lines filed
Asset lines not itemized here account for $44,237; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,982,004$1,050,221
X-2 Savings and temporary cash investmentsStart of year $2,873,956$2,067,631
X-3 Pledges and grants receivableStart of year $15,000$14,524
X-4 Accounts receivableStart of year $64,196$190,141
X-9 Prepaid expenses and deferred chargesStart of year $148,815$116,072
X-10c Land, buildings and equipment, netStart of year $11,442,250$11,084,602
X-11 Publicly traded securities$1,030,568
X-15 Other assetsStart of year $98,672$934,472
X-16 Total assetsStart of year $16,670,130$16,532,468
X-17 Accounts payable and accrued expensesStart of year $521,333$583,134
X-19 Deferred revenueStart of year $4,181,890$4,530,078
X-25 Other liabilitiesStart of year $0$854,050
X-26 Total liabilitiesStart of year $15,726,833$16,991,621
X-27 Net assets without donor restrictionsStart of year $113,865−$1,558,827
X-28 Net assets with donor restrictionsStart of year $829,432$1,099,674
X-32 Total net assets or fund balancesStart of year $943,297−$459,153
X-33 Total liabilities and net assetsStart of year $16,670,130$16,532,468
Part XI · Reconciliation of net assets −$459,153 net assets at year end
XI-1 Total revenue$12,817,873
XI-2 Total expenses$14,241,495
XI-3 Revenue less expenses−$1,423,622
XI-4 Net assets at start of year$943,297
XI-5 Net unrealized gains (losses) on investments$21,172
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$459,153

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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