Civic Intelligence

Bridging Virginia Inc.

990 • Fiscal year 2023 • EIN 85-2003331

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 10, 2024

1717 E Cary StreetRichmond, VA 23223

(804) 501-6413

Siviq Scores

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

Liabilities / Assets

78th percentile

0.36x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.43x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

83rd percentile

33%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

84th percentile

$154,944

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 17.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

86th percentile

40%

Faster asset growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

40%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$1,066,703

Flat from 2023

Net Assets

Flat

$683,080

Flat from 2023

Liabilities

Flat

$383,623

Flat from 2023

Revenue

Flat

$884,884

Flat from 2023

Expenses

Flat

$596,386

Flat from 2023

Net Income

Flat

$288,498

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $111,435Liabilities 2020: $109,0572020Assets 2021: $226,378Liabilities 2021: $100,000Net Assets 2021: $126,3782021Assets 2022: $763,558Liabilities 2022: $218,864Net Assets 2022: $544,6942022Assets 2023: $1,066,703Liabilities 2023: $383,623Net Assets 2023: $683,0802023Assets 2023: $1,066,703Liabilities 2023: $383,623Net Assets 2023: $683,0802023Assets 2024: $1,633,793Liabilities 2024: $746,465Net Assets 2024: $887,3282024

Highlighted filing

2023

Assets$1,066,703
Liabilities$383,623
Net Assets$683,080

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2020: $10,000Expenses 2020: $7,622Net Income 2020: $2,3782020Revenue 2021: $198,500Expenses 2021: $74,500Net Income 2021: $124,0002021Revenue 2022: $631,808Expenses 2022: $213,492Net Income 2022: $418,3162022Revenue 2023: $884,884Expenses 2023: $596,386Net Income 2023: $288,4982023Revenue 2023: $884,884Expenses 2023: $596,386Net Income 2023: $288,4982023Revenue 2024: $1,509,364Expenses 2024: $1,305,116Net Income 2024: $204,2482024

Highlighted filing

2023

Revenue$884,884
Expenses$596,386
Net Income$288,498
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 10, 2024
Return Version
2023v5.0
Gross Receipts
$884,884
Mission and Program Overview

Mission

To support largely minority-owned small businesses in virginia by providing access to a affordable loan capital and financial services.

To support largely minority-owned small businesses in virginia by providing access to affordable loan capital and financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$447,339$369,911▼ $77,428
Savings and Temporary Cash Investments$103,273$269,809▲ $166,536
Other Notes and Loans Receivable, Net$145,773$230,847▲ $85,074
Pledges and Grants Receivable$40,000$155,000▲ $115,000
Loans From Officers Directors$100,000$48,000▼ $52,000
Prepaid Expenses and Deferred Charges$11,673$16,141▲ $4,468
Accounts Receivable$15,000$9,500▼ $5,500
Total Assets$763,558$1,066,703▲ $303,145
Other Assets Total$500$15,495▲ $14,995
Liabilities
Unsecured Notes Loans Payable$100,834$299,352▲ $198,518
Accounts Payable and Accrued Expenses$11,167$14,577▲ $3,410
Other Liabilities$6,863$11,694▲ $4,831
Deferred Revenue-$10,000-
Total Liabilities$218,864$383,623▲ $164,759
Net Assets / Fund Balance
Net Assets With Donor Restrictions$100,000$480,443▲ $380,443
Net Assets Without Donor Restrictions$444,694$202,637▼ $242,057
Total Net Assets Fund Balance$544,694$683,080▲ $138,386
Total Liabilities and Net Assets / Fund Balance$763,558$1,066,703▲ $303,145
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leah FremouwPresident/ceFT$150,000$4,944$154,944
Leah FremouwPresident/CEO-$150,000$4,944$154,944

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$800,403
Program Service Revenue
$81,278
Investment Income
$3,011
Other Revenue
$192
All Other Contributions
$650,403
Change in Net Assets
$288,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$343,581
Salaries, Compensation, and Employee Benefits$236,105
Total Fundraising Expense$84,884
Grants and Similar Amounts Paid$16,700
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$142,909$27,413$13,447$183,769
Current Officers, Directors, Trustees, and Key Employees$53,226$53,225$43,549$150,000
Other Salaries and Wages$20,108$20,107$16,451$56,666
Advertising$45,440--$45,440
Information Technology$7,171$14,469-$21,640
Grants to Domestic Orgs$16,700--$16,700
Payroll Taxes$5,463$5,463$4,498$15,424
Interest$14,053--$14,053
Other Employee Benefits$5,534$5,534$2,947$14,015
Fees for Services Accounting$9,301$1,784$875$11,960
Insurance$1,205$7,943-$9,148
Travel$2,649$3,974-$6,623
Occupancy$2,400$3,600-$6,000
Fees for Services Legal$4,511$865$424$5,800
Office Expenses$1,127$1,689-$2,816
Other Expenses$816$1,224$2,693$2,040
Conferences and Meetings$753$1,130-$1,883
All Other Expenses$522$469-$991
Total Functional Expenses$356,691$154,811$84,884$596,386
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Metropolitan Business League--Funding$16,700
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$100,000$48,000▼ $52,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease - Long Term$5,978
Operating Lease - Current$5,716
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of the 990 is reviewed by the board prior to filing with the irs.

Form 990, Page 6, Part VI, Line 12C

The organization does not make the governing documents, conflict of interest policy and financial statements available to the public.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Bridging Virginia Inc
EIN
85-2003331
Phone
8045016413
Address
1717 E CARY STREET, RICHMOND, VA 23223

Signing Officer

Name
Harrison Roday
Title
Chairman
Phone
8045016413
Signed
2024-06-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leah Fremouw
Formed
2020
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
5
Employees
2
Volunteers
1

Preparer

Firm
Harris Hardy & Johnstone Pc
Address
300 ARBORETUM PL STE 660, RICHMOND, VA 23236
Preparer
Pamela M Leonard CPA
Phone
8045600560
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

142,909 27,413 13,447

Form 990, Part XI, Line 9

Adj to net assets from audit -150,112

Financial Statement Notes

Schedule D, Page 3, Part X

The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the center may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the center and various positions related to the potential sources of unrelated business taxable income (ubti). The center has recognized no uncertain tax positions for the years ended december 31, 2023 and 2022.

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IRS990/PYRevenuesLessExpensesAmt0418316
IRS990/PYSalariesCompEmpBnftPaidAmt0110202
IRS990/PYTotalExpensesAmt0213492
IRS990/PYTotalRevenueAmt0631808
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0288498
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0103273
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0269809
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt05
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0800403
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0628407
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0198500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt010000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01637310
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03011
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01159
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04170
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt081470
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt05
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01637310
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0800403
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0628407
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0198500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt010000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01637310
IRS990ScheduleA/TotalSupportAmt01641485
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/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05978
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15716
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE - LONG TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE - CURRENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE CENTER MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE CENTER AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBTI). THE CENTER HAS RECOGNIZED NO UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalLiabilityAmt011694
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt016700
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FUNDING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0METROPOLITAN BUSINESS LEAGUE
IRS990ScheduleI/RecipientTable/RecipientEIN0540836123
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0150000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt04164
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt0780
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LEAH FREMOUW
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0154944
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt048000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0INITIAL FUNDING FOR ORGANIZATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0109057
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0HARRISON RODAY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD CHAIRMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt048000
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS REVIEWED BY THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT MAKE THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3142,909 27,413 13,447
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ADJ TO NET ASSETS FROM AUDIT -150,112
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0763558
IRS990/TotalAssetsEOYAmt01066703
IRS990/TotalAssetsGrp/BOYAmt0763558
IRS990/TotalAssetsGrp/EOYAmt01066703
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0800403
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt084884
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0154811
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0356691
IRS990/TotalFunctionalExpensesGrp/TotalAmt0596386
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0218864
IRS990/TotalLiabilitiesEOYAmt0383623
IRS990/TotalLiabilitiesGrp/BOYAmt0218864
IRS990/TotalLiabilitiesGrp/EOYAmt0383623
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0544694
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0683080

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