Bridges Foundation

Analysis

Bridges Foundation is a registered charity in United States, based in Waterford, ME. It received its IRS tax-exemption ruling in December 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Bridges Foundation reported income of $635k and spending of $585k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $320k to $635k (+98%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 95%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bridges Foundation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include Handicap Awareness & Support League Inc ($635k), Community Partnerships & Associates Inc ($635k) and Family Center of Hope ($635k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $19k (3.3% of expenses). Other salaries and wages came to $433k. At year end it held assets of $91k against liabilities of $221k, net assets of -$131k. It reported 28 employees.