Brightbridge Inc

Analysis

Brightbridge Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in August 1983, 43 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Brightbridge Inc reported income of $6.8m and spending of $5.7m, spending 83% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.8m to $6.8m (+143%), an average of +34% a year. The sharpest change came in the year to June 2023, when income rose by 97%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Brightbridge Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within TN. Charities of a similar size with the same main cause include Hire360 ($6.8m), Cincinnati USA Regional Chamber Foundation ($6.8m) and Watauga Opportunities Inc ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 101% of the total. Compensation of current officers, directors and key employees was $704k (12% of expenses). Other salaries and wages came to $867k. At year end it held assets of $141.8m against liabilities of $134.3m, net assets of $7.6m. It reported 19 employees.