Civic Intelligence

Bridge Investment Community Development Corporation

990 • Fiscal year 2016 • EIN 47-1937546

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 29, 2017

100 19th StreetRock Island, IL 61201

(309) 788-6311

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.35x

Higher debt load relative to assets than 78% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

88th percentile

0.76x

Higher debt load relative to revenue than 88% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

$640,175

No earlier filing loaded for comparison.

Net Assets

$415,926

No earlier filing loaded for comparison.

Liabilities

$224,249

No earlier filing loaded for comparison.

Revenue

$295,564

No earlier filing loaded for comparison.

Expenses

$50,005

No earlier filing loaded for comparison.

Net Income

$245,559

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2016: $640,175Liabilities 2016: $224,249Net Assets 2016: $415,9262016Assets 2017: $1,400,089Liabilities 2017: $989,152Net Assets 2017: $410,9372017Assets 2018: $2,058,543Liabilities 2018: $1,447,153Net Assets 2018: $611,3902018Assets 2019: $2,015,046Liabilities 2019: $1,305,627Net Assets 2019: $709,4192019Assets 2020: $2,334,604Liabilities 2020: $1,274,446Net Assets 2020: $1,060,1582020Assets 2021: $2,654,993Liabilities 2021: $1,429,482Net Assets 2021: $1,225,5112021Assets 2022: $3,078,238Liabilities 2022: $1,404,233Net Assets 2022: $1,674,0052022Assets 2023: $3,443,286Liabilities 2023: $1,045,386Net Assets 2023: $2,397,9002023Assets 2024: $9,944,286Liabilities 2024: $1,873,664Net Assets 2024: $8,070,6222024

Highlighted filing

2016

Assets$640,175
Liabilities$224,249
Net Assets$415,926

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $295,564Expenses 2016: $50,005Net Income 2016: $245,5592016Revenue 2017: $5,001Expenses 2017: $9,990Net Income 2017: -$4,9892017Revenue 2018: $272,571Expenses 2018: $72,118Net Income 2018: $200,4532018Revenue 2019: $205,343Expenses 2019: $107,314Net Income 2019: $98,0292019Revenue 2020: $636,620Expenses 2020: $285,881Net Income 2020: $350,7392020Revenue 2021: $289,705Expenses 2021: $124,352Net Income 2021: $165,3532021Revenue 2022: $590,634Expenses 2022: $142,140Net Income 2022: $448,4942022Revenue 2023: $931,765Expenses 2023: $207,870Net Income 2023: $723,8952023Revenue 2024: $5,899,593Expenses 2024: $226,871Net Income 2024: $5,672,7222024

Highlighted filing

2016

Revenue$295,564
Expenses$50,005
Net Income$245,559
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 29, 2017
Return Version
2016v3.0
Gross Receipts
$306,728
Mission and Program Overview

Mission

Support job creation and economic growth by providing community based lending and investment while fostering the creation and preservation of low and moderate income housing for low and moderate income households.

Support job creation and economic growth in low and moderate communities by providing community based lending and investment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$276,515-
Cash and Non-Interest-Bearing Accounts$271,651$214,894▼ $56,757
Land, Buildings, and Equipment, Net-$147,986-
Accounts Receivable-$750-
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$271,651$640,175▲ $368,524
Other Assets Total-$30-
Liabilities
Mortgage Notes Payable Secured by Investment Property$100,000$219,275▲ $119,275
Accounts Payable and Accrued Expenses$1,284$4,424▲ $3,140
Other Liabilities-$550-
Total Liabilities$101,284$224,249▲ $122,965
Net Assets / Fund Balance
Unrestricted Net Assets$170,367$415,926▲ $245,559
Total Net Assets Fund Balance$170,367$415,926▲ $245,559
Total Liabilities and Net Assets / Fund Balance$271,651$640,175▲ $368,524

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$147,986$2,014$150,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kevin PetersonChairman
Aj LossVice President
Brian HollenbackExecutive Director
Bill RenkTrustee
Dan BlocherTrustee
Dirk MemingerTrustee
Gary HayengaTrustee
Jeff RoseTrustee
John DalyTrustee
Karen ReynoldsTrustee
Lawrence DavisTrustee
Kevin SchoonmakerSecretary
Matt WynnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$300,000
Program Service Revenue
$5,492
Investment Income
$0
Other Revenue
$-9,928
All Other Contributions
$300,000
Change in Net Assets
$245,559

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential1$150,000
Total Noncash Contributions1$150,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$295,564
Revenue Not Reported on Form 990
$11,164
Total Revenue per Audited Statements
$306,728
Total Revenue per Form 990
$295,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$50,005
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$15,000--$15,000
Fees for Services Legal$647--$647
Travel$471--$471
Other Expenses$156--$156
All Other Expenses$72--$72
Conferences and Meetings$28--$28
Total Functional Expenses$50,005$0$0$50,005

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$61,169
Expenses per Audited Statements$50,005
Total Expenses per Form 990$50,005
Expenses Not Reported on Form 990$11,164
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Brian HollenbackExecutive DirectorLoan-see Part VNo$125,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$550
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Bridge investment communioty development has delegated day to day management of the organization to rock island economic growth corporation under a written managment services agreement. The management services agreement is dated december 30, 2014 and extends through december 31, 2017.

Form 990, Part VI, Line 11B: Form 990 Review Process

A preliminary draft of the form 990 is provided to the appropriate board/committee members for approval before it is finalized for signature.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The board annually reviews conflict of interest statements; any changes are required to be promptly disclosed to the bod.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Files are maintained in the organization's office and upon request designated persons are notified to provide copies to requestor.

Filing and Contact Details

Filer

Filer Name
Bridge Investment Community Development
EIN
47-1937546
Phone
3097886311
Address
100 19TH STREET, ROCK ISLAND, IL 61201

Signing Officer

Name
Kevin Peterson
Title
Director
Signed
2017-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Peterson
Formed
2014
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Timmer And Associates CPA PC
Address
4480 - 48th Avenue Ct Suite 3, Rock Island, IL 61201-9203
Preparer
John D Timmer CPA
Phone
3097882304
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization has received notification that it qualifies as a tax-exempt organization under Section 501 (c) (3) of the U.S. Internal Revenue Code and the corresponding provisions of Illinois law and, accordingly, is not subject to federal or state income taxes. As of December 31, 2016, management is not aware of any uncertain tax positions and related tax benefits which would be material to the Organizations financial statements. The Organization files U.S. and Illinois information returns which, for years subsequent to 2014, are subject to examination by taxing authorities

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

RENTAL EXPENSES $11164

Part XII, Line 2D: Other expenses and losses per audited F/S

RENTAL EXPENSES $11164

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IRS990/MissionDesc0SUPPORT JOB CREATION AND ECONOMIC GROWTH BY PROVIDING COMMUNITY BASED LENDING AND INVESTMENT WHILE FOSTERING THE CREATION AND PRESERVATION OF LOW AND MODERATE INCOME HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0100000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0219275
IRS990/NetAssetsOrFundBalancesBOYAmt0170367
IRS990/NetAssetsOrFundBalancesEOYAmt0415926
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0-9928
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-9928
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0150000
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt030
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0CONTRACTED SERVICES
IRS990/OtherExpensesGrp/Desc1TELEPHONE/INTERNET
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt030933
IRS990/OtherExpensesGrp/ProgramServicesAmt11864
IRS990/OtherExpensesGrp/ProgramServicesAmt2834
IRS990/OtherExpensesGrp/ProgramServicesAmt3156
IRS990/OtherExpensesGrp/TotalAmt030933
IRS990/OtherExpensesGrp/TotalAmt11864
IRS990/OtherExpensesGrp/TotalAmt2834
IRS990/OtherExpensesGrp/TotalAmt3156
IRS990/OtherLiabilitiesGrp/EOYAmt0550
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0276515
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0KEVIN PETERSON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2MISC INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0272
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2220
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0272
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2220
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0215202
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt044835
IRS990/PYRevenuesLessExpensesAmt0170367
IRS990/PYTotalExpensesAmt044835
IRS990/PYTotalRevenueAmt0215202
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0245559
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-9928
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0300000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0215202
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0515202
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01508
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01508
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt05220
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt05220
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01508
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01508
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0520422
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0305220
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0215202
IRS990ScheduleA/Total509Grp/TotalAmt0520422
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0306728
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0215202
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0521930
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0147986
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02014
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0150000
IRS990ScheduleD/ExpensesNotReportedAmt011164
IRS990ScheduleD/ExpensesSubtotalAmt050005
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt011164
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0550
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherRevenueAmt011164
IRS990ScheduleD/RevenueNotReportedAmt011164
IRS990ScheduleD/RevenueSubtotalAmt0295564
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization has received notification that it qualifies as a tax-exempt organization under Section 501 (c) (3) of the U.S. Internal Revenue Code and the corresponding provisions of Illinois law and, accordingly, is not subject to federal or state income taxes. As of December 31, 2016, management is not aware of any uncertain tax positions and related tax benefits which would be material to the Organizations financial statements. The Organization files U.S. and Illinois information returns which, for years subsequent to 2014, are subject to examination by taxing authorities
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES $11164
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES $11164
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0147986
IRS990ScheduleD/TotalExpensesPerForm990Amt050005
IRS990ScheduleD/TotalLiabilityAmt0550
IRS990ScheduleD/TotalRevenuePerForm990Amt0295564
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0306728
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt061169
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0BRIAN HOLLENBACK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false

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