Bridge Street Development Corporation

Analysis

Bridge Street Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bridge Street Development Corporation reported income of $4.5m and spending of $4.6m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $4.5m (+191%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bridge Street Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Techsolve Inc ($4.5m), Louisiana Industries for the Disabled Inc ($4.5m) and Enableutah ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Other salaries and wages came to $3.1m. At year end it held assets of $2.8m against liabilities of $990k, net assets of $1.8m. It reported 101 employees.