Bridges Academy INC FY2024 filing

Tax-deductible

Studio City, CA501(c)(3)Since 1998EducationEIN 95-4659439Revenue $13.0M in FY2024

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.
$750K 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

FY2024 · 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
2 of 6
filings with a surplus
Average deficit $106K a year · under 1% of revenue · last 6 filings
Concern: a surplus in 2 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
$750K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 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
$15.3M
104% of total assets
Concern: liabilities are 104% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.0M
+2% vs prior year
Spent
$13.2M
To programs
85%
Net assets
−$585K
By yearFY2020–FY2025
Revenue
$13.0M
FY2024▲ +2%
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
FY2025$10.9M
Expenses
$13.2M
FY2024▼ -7%
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
FY2025$11.2M
Net assets
−$585K
FY2024▼ -27%
Tap a bar for its year
Net assets by fiscal year
FY2020−$614K
FY2021$443K
FY2022$943K
FY2023−$459K
FY2024−$585K
FY2025−$1.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 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% · $11.2M Management & general 12% · $1.6M Fundraising 3% · $429K

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

21 people listed on the 990; $750K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$206,242Pt VII · Sec A
Interim Head of School
$159,792Pt VII · Sec A
Assistant Head of School (
$158,239Pt VII · Sec A
Director of Counseling
$118,033Pt VII · Sec A
Business Manager
$107,378Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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 II1 listed

Programs and updates

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

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Provided by the organization

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1 program · $11.2M · in their own filed words · FY2023
01

Bridges academy is a los angeles-based college preparatory, co-educational, independent school for gifted and highly gifted twice-exceptional students, offering two day schools, (grades 4-12) and online high school (grades 9-12).BRIDGES academy provides a rigorous, innovative curriculum that emphasizes the strengths, gifts, and talents…

$11.2Mprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$13.0M
Ln 12
Fees for servicesLn 2g$12.0M
Gifts and grantsLn 1h$829K
Other incomeLn 4–11$208K
Money outPt IX
$13.2M
Ln 25
Programscol B$11.2M
Managementcol C$1.6M
Fundraisingcol D$429K
Owns and owesPt X
−$585K
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$14.7M
LiabilitiesLn 26$15.3M
PeoplePt VI, VII
21
listed · VII A
PaidVII A5
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$829K
Fundraising eventsLn 1c$65K
Fees for servicesLn 2g$12.0M
Investment incomeLn 3$9K
Other incomeLn 4–11$208K
Total revenueLn 12$13.0M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$211K
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$11.2M
Other assetsLn 15$468K
Total assetsLn 16$14.7M
LiabilitiesLn 26$15.3M
Net assetsLn 32−$585K
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 FY24End FY24
Cash and savingsLn 1–2$3.1M$1.4M
InvestmentsLn 11–13$1.0M$1.1M
Land, buildings, equipmentLn 10c$11.1M$11.2M
Total assetsLn 16$16.5M$14.7M
LiabilitiesLn 26$17.0M$15.3M
Net assetsLn 32−$459K−$585K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.0M$1.0M
Pay of current officers, directors and key staffLn 5$463K$395K$51K$17K
Other salaries and wagesLn 7$7.3M$6.1M$913K$253K
Pension plan contributionsLn 8$292K$245K$36K$10K
Other employee benefitsLn 9$808K$679K$101K$28K
Payroll taxesLn 10$634K$533K$79K$22K
Legal feesLn 11b$22K$18K$3K$758
Accounting feesLn 11c$56K$56K
Other fees for servicesLn 11g$38K$32K$5K$1K
Advertising and promotionLn 12$8K$7K$1K$282
Office expensesLn 13$153K$129K$19K$5K
OccupancyLn 16$922K$776K$114K$32K
Conferences, conventions and meetingsLn 19$52K$44K$6K$2K
InterestLn 20$433K$365K$54K$15K
Depreciation, depletion and amortizationLn 22$208K$175K$26K$7K
InsuranceLn 23$97K$82K$12K$3K
Other expenses (24a–d)Ln 24$718K$597K$88K$32K
Total functional expensesLn 25$13.2M$11.2M$1.6M$429K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.9M$11.2M−$349K−$1.0M 990 PDF
FY2024 Viewing $13.0M$13.2M−$203K−$585K 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $13,016,046 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,772,267$829,135
I-9 Program service revenuePrior year $10,774,780$11,970,089
I-10 Investment incomePrior year $42,302$9,099
I-11 Other revenuePrior year $228,524$207,723
I-12 Total revenuePrior year $12,817,873$13,016,046
I-13 Grants and similar amounts paidPrior year $1,167,044$1,009,110
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,067,077$9,502,840
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,007,374$2,707,068
I-18 Total expensesPrior year $14,241,495$13,219,018
I-19 Revenue less expensesPrior year −$1,423,622−$202,972
Part VI · Governance 15 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
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 $13,016,046 across 9 lines filed
VIII-1c Fundraising events$64,924
VIII-1f All other contributions, gifts and grants$764,211
VIII-1h Total contributions, gifts and grants$829,135
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,970,089$11,970,089
VIII-3 Investment incomeExcluded from tax $9,099$9,099
VIII-6 Net rental income or lossExcluded from tax $115,381$115,381
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $92,342$92,342
VIII-12 Total revenueRelated to mission $11,970,089 · Unrelated business $0 · Excluded from tax $216,822$13,016,046
Part IX · Statement of functional expenses $13,219,018 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $1,009,110$1,009,110
IX-5 Pay of current officers, directors and key staffPrograms $395,342 · Management $50,767 · Fundraising $17,092$463,201
IX-7 Other salaries and wagesPrograms $6,141,182 · Management $912,933 · Fundraising $252,607$7,306,722
IX-8 Pension plan contributionsPrograms $245,182 · Management $36,392 · Fundraising $10,091$291,665
IX-9 Other employee benefitsPrograms $678,982 · Management $100,564 · Fundraising $27,968$807,514
IX-10 Payroll taxesPrograms $533,100 · Management $78,647 · Fundraising $21,991$633,738
IX-11b Legal feesPrograms $18,373 · Management $2,711 · Fundraising $758$21,842
IX-11c Accounting feesManagement $55,931$55,931
IX-11g Other fees for servicesPrograms $32,014 · Management $4,723 · Fundraising $1,321$38,058
IX-12 Advertising and promotionPrograms $6,832 · Management $1,008 · Fundraising $282$8,122
IX-13 Office expensesPrograms $128,599 · Management $18,972 · Fundraising $5,306$152,877
IX-16 OccupancyPrograms $775,879 · Management $114,463 · Fundraising $32,004$922,346
IX-19 Conferences, conventions and meetingsPrograms $43,541 · Management $6,423 · Fundraising $1,797$51,761
IX-20 InterestPrograms $364,538 · Management $53,779 · Fundraising $15,037$433,354
IX-22 Depreciation, depletion and amortizationPrograms $174,999 · Management $25,817 · Fundraising $7,219$208,035
IX-23 InsurancePrograms $81,718 · Management $12,056 · Fundraising $3,371$97,145
IX-24 Other expenses (24a–d)Programs $596,917 · Management $88,287 · Fundraising $32,393$717,597
IX-25 Total functional expensesPrograms $11,226,308 · Management $1,563,473 · Fundraising $429,237$13,219,018
Part X · Balance sheet $14,670,036 assets, 17 lines filed
Asset lines not itemized here account for $22,906; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,050,221$1,173,746
X-2 Savings and temporary cash investmentsStart of year $2,067,631$211,195
X-3 Pledges and grants receivableStart of year $14,524$2,500
X-4 Accounts receivableStart of year $190,141$438,410
X-9 Prepaid expenses and deferred chargesStart of year $116,072$130,998
X-10c Land, buildings and equipment, netStart of year $11,084,602$11,159,482
X-11 Publicly traded securitiesStart of year $1,030,568$1,062,449
X-15 Other assetsStart of year $934,472$468,350
X-16 Total assetsStart of year $16,532,468$14,670,036
X-17 Accounts payable and accrued expensesStart of year $583,134$510,213
X-19 Deferred revenueStart of year $4,530,078$3,256,633
X-25 Other liabilitiesStart of year $854,050$455,439
X-26 Total liabilitiesStart of year $16,991,621$15,254,619
X-27 Net assets without donor restrictionsStart of year −$1,558,827−$1,648,800
X-28 Net assets with donor restrictionsStart of year $1,099,674$1,064,217
X-32 Total net assets or fund balancesStart of year −$459,153−$584,583
X-33 Total liabilities and net assetsStart of year $16,532,468$14,670,036
Part XI · Reconciliation of net assets −$584,583 net assets at year end
XI-1 Total revenue$13,016,046
XI-2 Total expenses$13,219,018
XI-3 Revenue less expenses−$202,972
XI-4 Net assets at start of year−$459,153
XI-5 Net unrealized gains (losses) on investments$77,542
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$584,583

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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