2019-02-14T12:46:57-06:00 2018-09-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2017-10-01 251635121 BRIDGEWAY CAPITAL INC BRID 4122012450 707 GRANT STREET SUITE 1920 PITTSBURGH PA 15219 MARK PETERSON PRESIDENT 4122012450 2019-02-13 1 EUGENE J LOGAN P00227231 4122613644 208.79.164.82 2019-02-13 13:00:12 ES P 9B917A9CD890140E230CF96B6B707F00B463B466 ED4C94F1B30A2419E19D98BACB4CD30BED54357B 2017 2019-02-21 02:37:17Z MARK PETERSON 707 GRANT STREET SUITE 1920 PITTSBURGH PA 15219 10594284 0 X WWW.BRIDGEWAYCAPITAL.ORG X 1990 PA BRIDGEWAY CAPITAL STRIVES TO MAKE WESTERN PENNSYLVANIA A THRIVING REGION FOR ALL BY PROVIDING ENTREPRENEURS, NONPROFITS, AND GROWING SMALL BUSINESSES WITH CAPITAL AND EDUCATIONAL OPPORTUNITIES NECESSARY TO STRENGTHEN SOCIAL SERVICES AND CREATE NEW BUSINESSES AND NEW JOBS. 17 15 30 25 0 8077 4426894 4963024 3602223 4250038 469224 408667 0 0 8498341 9621729 434500 509571 0 0 2865184 3091472 0 0 233300 3692786 3566267 6992470 7167310 1505871 2454419 86558726 95261116 46731811 53595820 39826915 41665296 X SEE SCHEDULE OBRIDGEWAY CAPITAL WORKS TO MAKE WESTERN PENNSYLVANIA A THRIVING REGION FOR ALL BY PROMOTING ECONOMIC OPPORTUNITY AND COMMUNITY REVITALIZATION. BRIDGEWAY CAPITAL ASSISTS UNDERSERVED POPULATIONS BY PROVIDING CAPITAL AND EDUCATION TO IGNITE BUSINESS AND JOB GROWTH, DEVELOP COMMUNITIES, SUPPORT ENTREPRENEURS AND EXPAND VITAL SERVICES THAT STRENGTHEN OUR REGION. 1 0 4804501 428071 4250038 LENDING BY BRIDGEWAY CAPITAL BENEFITED LOW-INCOME PEOPLE AND ASSISTED IN THE FORMATION AND GROWTH OF SMALL BUSINESSES AND NONPROFIT ORGANIZATIONS IN LOW- TO MODERATE-INCOME COMMUNITIES ACROSS 15 COUNTIES IN WESTERN PENNSYLVANIA. 107 BORROWERS RECEIVED LOANS TOTALING $21.5 MILLION, WHICH LEVERAGED $97.5 MILLION IN ADDITIONAL FINANCING. BORROWERS RANGED FROM ENTREPRENEURS STARTING THEIR FIRST BUSINESS TO ESTABLISHED BUSINESSES EXPANDING OPERATIONS AND DEVELOPING THEIR JOB BASE, TO NON-PROFITS PROVIDING CRITICAL SOCIAL SERVICES AND ORGANIZATIONS FOCUSED ON REVITALIZING DISTRESSED COMMUNITIES. THE ECONOMIC IMPACT OF THIS LENDING IS PROJECTED TO HELP CREATE 481 JOBS. 490466 81500 THE CRAFT BUSINESS ACCELERATOR (CBA) AT BRIDGEWAY CAPITAL SUPPORTS REGIONAL CRAFT BUSINESSES, MAKER ENTERPRISES, DESIGN-BUILD SHOPS, AND ENTREPRENEURIAL ARTISTS. THE CBA PROVIDES THESE "PRODUCERS" WITH BETTER ACCESS TO ELEMENTS OF BUSINESS SUCCESS: SPACE, CAPITAL, PEERS, MARKETS, GUIDANCE, AND WORKFORCE. SINCE ITS INCEPTION IN 2016, THE CBA FACILITATED OVER $1 MILLION IN SALES FOR PRODUCERS AND HELPED BRIDGEWAY FINANCE AND PROVIDE GRANT SUPPORT FOR $2 MILLION IN PROJECTS. WHEN PRODUCERS ACCESS RESOURCES AND OPPORTUNITY, THEIR GROWTH EXPANDS AND DIVERSIFIES THE REGIONAL ECONOMY. THEY CREATE JOBS, REACTIVATE INDUSTRIAL SPACES, REVITALIZE MAIN STREETS, AND ENHANCE PITTSBURGH'S NATIONAL REPUTATION AS A DYNAMIC, 21ST-CENTURY CITY. 181542 0 BRIDGEWAY CAPITAL EDUCATED AND ASSISTED CURRENT AND POTENTIAL BORROWERS WITH ONE-ON-ONE BUSINESS SKILL ASSESSMENTS AND COACHING, TUITION ASSISTANCE FOR INSTRUCTIONAL AND MANAGEMENT SKILLS DEVELOPMENT PROGRAMS, AND OTHER FORMS OF ASSISTANCE TO HELP THEM MANAGE AND GROW THEIR BUSINESSES. THE EDUCATION HAS HELPED TO IMPROVE BORROWERS' FINANCIAL MANAGEMENT, BUSINESS STRATEGY, AND OTHER BUSINESS OPERATIONS, AND HAS CONTRIBUTED TO THE ECONOMIC DEVELOPMENT OF WESTERN PENNSYLVANIA. BRIDGEWAY CAPITAL ALSO CONTINUED TO PROVIDE PROFESSIONAL REAL ESTATE CONSULTING SERVICES, FREE OF CHARGE, TO NONPROFIT ORGANIZATIONS SEEKING ADVICE REGARDING THEIR FACILITY NEEDS AND CHALLENGES. 5476509 1 1 0 1 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 73 0 1 30 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 17 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X MARK PETERSON 4122012450 707 GRANT STREET SUITE 1920 PITTSBURGH PA 15219 DAN ADAMSKI DIRECTOR 0.50 X 0 0 0 GEORGIA BERNER DIRECTOR 0.50 X 0 0 0 KEVIN BOLDING DIRECTOR 0.50 X 0 0 0 TERRY HAINES DIRECTOR 0.50 X 0 0 0 ANDREW HAYS DIRECTOR (EXITED 10/8/17) 0.50 X 0 0 0 THOMAS J KELLY JR DIRECTOR 0.50 X 0 0 0 BLAINE A LAMPERSKI DIRECTOR 0.50 X 0 0 0 JAY R MANGOLD DIRECTOR (EXITED 4/24/18) 0.50 X 0 0 0 DENIS MCLAUGHLIN DIRECTOR 0.50 X 0 0 0 THOMAS D MICHAEL DIRECTOR 0.50 X 0 0 0 RONA NESBIT DIRECTOR (EXITED 9/28/18) 0.50 X 0 0 0 CAROL A NEYLAND DIRECTOR 0.50 X 0 0 0 MELVIN WASHINGTON DIRECTOR (ENTERED 7/24/18) 0.50 X 0 0 0 DERRICK WILSON DIRECTOR (ENTERED 1/16/18) 0.50 X 0 0 0 CHARLES R BROFF CHAIRPERSON 0.50 X X 0 0 0 RONALD A DONATELLI VICE CHAIRPERSON (AS OF 7/24/18) 0.50 X X 0 0 0 RICHARD WITHERSPOON TREASURER 0.50 X X 0 0 0 SUSAN APEL SECRETARY (THROUGH 7/24/18) 0.50 X X 0 0 0 LYNN DAVENPORT SECRETARY (AS OF 7/24/18) 0.50 X X 0 0 0 MARK PETERSON PRESIDENT & CEO 38.00 2.00 X X 177532 0 113264 SCOTT LANGILL ASSISTANT SECRETARY 38.00 2.00 X 114090 0 32898 THOMAS BOGDEWIC CHIEF UNDERWRITING OFFICER 40.00 X 134981 0 25574 MATTHEW MADIA CHIEF STRATEGY & DEVELOPMENT OFFICER 40.00 X 106744 0 19164 DWAYNE RANKIN CHIEF LENDING OFFICER 40.00 X 109156 0 33433 642503 0 224333 5 0 1 0 ALLEN & GERRITSEN 2 SEAPORT LANE 7TH FLOOR BOSTON MA 02210 CONSULTING 146516 GRIFFITH MCCAGUE & HAPPEL PC 408 CEDAR AVENUE PITTSBURGH PA 15212 LEGAL-COLLECTION 121059 DELOITTE CONSULTING LLP 200 BERKELEY STREET BOSTON MA 02116 CONSULTING 119390 3 1074120 3888904 4963024 LOAN PROGRAM INTEREST 525990 3824888 3824888 LOAN PROGRAM FEES 525990 425150 425150 4250038 441879 441879 939343 972555 -33212 -33212 -33212 9621729 4250038 0 408667 509571 509571 844485 285755 433314 125416 1565397 1252978 278731 33688 170011 105574 52308 12129 325155 225146 85490 14519 186424 112520 61757 12147 15731 3895 7171 4665 78964 37921 40636 407 4000 4000 88304 88304 261966 187847 74119 91937 33734 58203 51735 26660 23464 1611 105396 51902 48383 5111 215121 135969 65848 13304 52958 45211 7747 158042 77259 80783 1692113 1692113 29094 17707 9484 1903 52818 31597 17746 3475 ALLOWANCE FOR LOAN LOSS 494824 494824 LOAN EXPENSES 106369 106369 PUBLICATIONS/DUES/SUBSC 16199 5736 10457 6 EQUIPMENT MAINTENANCE & 14101 8446 4736 919 36595 27775 8820 7167310 5476509 1457501 233300 523925 330262 6566399 8155068 3730950 1490557 452661 501751 56075172 58773738 375211 412863 399074 294511 122867 104563 15011026 20851827 2615965 3660703 1084550 979784 86558726 95261116 426931 579657 1794507 1576953 3655888 11454051 40843236 39985159 11249 0 46731811 53595820 X 32869093 35947249 6952322 5712547 5500 5500 39826915 41665296 86558726 95261116 X 2454419 -659189 43151 X X 0 1 X 1 1 1 X 7329686 6102082 10838457 4426894 4963024 33660143 2074098 2662981 3055489 3602223 4250038 15644829 9403784 8765063 13893946 8029117 9213062 49304972 5599284 2850000 5256500 830000 3715000 18250784 18349 151804 137993 167985 266769 742900 5617633 3001804 5394493 997985 3981769 18993684 30311288 507540 313642 315248 371110 441879 1949419 507540 313642 315248 371110 441879 1949419 9911324 9078705 14209194 8400227 9654941 51254391 0.59140 0.57540 0.03800 0.04430 X 0 1 0 0 0 0 0 0 1 4000 4000 0 PART II-B, LINE 1: WORK TO STRENGTHEN THE BASE OF SUPPORT FOR THE SMALL BUSINESS ADMINISTRATION'S MICROLOAN PROGRAM IN CONGRESS AND TO DEVELOP AND PRIORITIZE A LIST OF ISSUES TO BE ADDRESSED IN REAUTHORIZING THE SMALL BUSINESS ACT. 0 1 X 399074 294511 104563 104563 X 8962540 -659189 -659189 9621729 0 9621729 7167310 0 7167310 0 7167310 PART IV, LINE 2B: BRIDGEWAY CAPITAL (BRIDGEWAY) IS IN POSSESSION OF FUNDS AWARDED FROM SEVERAL LOCAL FOUNDATIONS FOR THE ESTABLISHMENT OF A THIRD-PARTY BOND GUARANTEE PROGRAM FOR MINORITY AND WOMEN-OWNED CONTACTORS. THE CONTRACTS GOVERNING THE PROGRAM HAVE ENDED, AND BRIDGEWAY IS WORKING WITH THE FOUNDATIONS TO DETERMINE THE NEXT STEPS. BRIDGEWAY HAS A CONTRACT WITH THE MANCHESTER CITIZENS CORPORATION FOR BRIDGEWAY TO HOLD FUNDS GRANTED BY THE RICHARD KING MELLON FOUNDATION (RKMF) FOR A LOAN THAT HAS BEEN FUNDED. BRIDGEWAY HAS A CONTRACT TO HOLD FUNDS GRANTED BY THE RICHARD KING MELLON FOUNDATION (RKMF) TO MAKE PRE-DEVELOPMENT RECOVERABLE GRANTS TO NON-PROFITS. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (CODIFICATION OR ASC) TOPIC ON INCOME TAXES, WHICH PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN COMBINED FINANCIAL STATEMENTS. THE ORGANIZATION'S COMBINED STATEMENTS OF FINANCIAL POSITION AT SEPTEMBER 30, 2018 AND 2017 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION WOULD ACCRUE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE, IF ANY WERE TO BE INCURRED. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2015. 1 ACTION HOUSING INC 611 WILLIAM PENN PL 800 PITTSBURGH PA 15219 250965469 501C3 40000 N/A N/A REAL ESTATE PRE-DEVELOPMENT FAY-PENN ECONOMIC DEVELOPMENT COUNCIL 1040 EBERLY WAY SUITE 200 LEMONT FURNACE PA 15456 251649514 501C3 20000 N/A N/A REAL ESTATE PRE-DEVELOPMENT HILL DISTRICT FEDERAL CREDIT UNION 2021 CENTRE AVE PITTSBURGH PA 15219 251399163 NON PROFIT 9188 N/A N/A OPERATING SUPPORT - LOAN LOSS ASSISTANCE LA DORITA LLC 2312 MAIN STREET SHARPSBURG PA 15215 473729575 FOR-PROFIT 50000 OTHER LOAN FORGIVENESS-ENTREPRENEUR INCUBATOR PROGRAM LOAN FORGIVENESS MA'AT CONSTRUCTION GROUP LLC 7120 KELLY STREET SUITE 100-B PITTSBURGH PA 15208 251828646 FOR-PROFIT 60201 OTHER LOAN FORGIVENESS-LABOR TRAINING PROGRAM LOAN FORGIVENESS PITTSBURGH GLASS CENTER INC 5472 PENN AVE PITTSBURGH PA 15206 251814656 501C3 31000 N/A N/A REAL ESTATE PRE-DEVELOPMENT THE DOOR CAMPAIGN INC 606 LIBERTY AVE SUITE 221 PITTSBURGH PA 15222 463765178 501C3 30000 N/A N/A REAL ESTATE PRE-DEVELOPMENT TREK DEVELOPMENT GROUP INCORPORATED 130 7TH STREET SUTE 300 PITTSBURGH PA 15222 232874035 FOR-PROFIT 40000 N/A N/A REAL ESTATE PRE-DEVELOPMENT URBAN ACADEMY OF GREATER PITTSBURGH CHARTER SCHOOL 437 TURRETT STREET PITTSBURGH PA 15206 251814573 501C3 40000 N/A N/A REAL ESTATE PRE-DEVELOPMENT 5 4 PART I, LINE 2: GRANT INFORMATION IS DOCUMENTED IN A DATABASE CONTAINING DETAILED INFORMATION ABOUT THE RECIPIENT, THEIR BUSINESS, AND THE INTERNAL APPROVAL PROCESS AND SUPPORT SUBSTANTIATING THE GRANT. GRANT RECIPIENTS ARE REVIEWED INTERNALLY BY SENIOR MANAGEMENT AND OTHER RELEVANT STAFF FOR ELIGIBLITY. X X X 0 0 0 0 0 0 0 1 0 MARK PETERSON PRESIDENT & CEO 169890 0 0 0 7642 0 90880 0 22384 0 290796 0 0 0 THOMAS BOGDEWIC CHIEF UNDERWRITING OFFICER 134939 0 0 0 42 0 0 0 25574 0 160555 0 0 0 PART I, LINE 7 PART II, COLUMN (C) INCLUDES A $75,000 ACCRUED BONUS FOR MARK PETERSON. THE AMOUNT WAS ACCRUED IN THE AUDITED FINANCIAL STATEMENTS AT SEPTEMBER 30, 2018. RICHARD WITHERSPOON TRUSTEE & TREASURER, RICHARD WITHERSPOON IS CEO OF HILL DISTRICT FCU 200000 QUASI-INVESTMENT KNOWN AS A SECONDARY CAPITAL ACCOUNT 0 FORM 990, PART III, LINE 2 THE CRAFT BUSINESS ACCELERATOR PROGRAM WAS CREATED IN 2016. SEE PART III, 4B FOR MORE INFORMATION ABOUT THE PROGRAM. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE FOR POLICY PLANNING IN CONSULTATION WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, AS WELL AS FOR ONGOING EVALUATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION B, LINE 11B BRIDGEWAY CAPITAL'S (BRIDGEWAY) CONTROLLER GATHERS INFORMATION FOR THE FORM 990 FROM THE FINANCIAL SYSTEM AND PROVIDES THE INFORMATION TO THE INDEPENDENT AUDIT FIRM TO PREPARE A DRAFT. THE CHIEF FINANCIAL OFFICER AND PRESIDENT OF BRIDGEWAY REVIEW THE DRAFT FOR ACCURACY AND CHANGES ARE MADE AS APPROPRIATE. THE FINAL FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BRIDGEWAY BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C BRIDGEWAY DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM TO BOARD MEMBERS EACH YEAR FOR COMPLETION. SENIOR MANAGEMENT REVIEWS THE FORMS TO ASSESS AND ADDRESS, IF NECESSARY, ANY CONFLICTS THAT ARE DISCLOSED. CONFLICTS ARE BROUGHT TO THE BOARD'S ATTENTION AND DISCUSSED OPENLY AT BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 15A THE SALARY OF BRIDGEWAY'S PRESIDENT & CEO IS SET BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. AT THE BEGINNING OF THE FISCAL YEAR, THE EXECUTIVE COMMITTEE SETS GOALS FOR PRESIDENT & CEO AS WELL AS REVIEWING PERFORMANCE RELATED TO GOALS FROM THE PRIOR FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 BRIDGEWAY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES WITHIN 30 DAYS UPON WRITTEN REQUEST AND IMMEDIATELY IN THE CASE OF IN-PERSON REQUESTS. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 43,151. FORM 990, PART XII, LINE 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT:: THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. ADDITIONALLY, THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. BRIDGEWAY DEVELOPMENT CORPORATION 707 GRANT STREET SUITE 1920 PITTSBURGH PA 15219 800842724 REAL ESTATE DEVELOPMENT PA 501(C)(2) BRIDGEWAY CAPITAL INC 1 15CCD CORP 707 GRANT STREET SUITE 1920 PITTSBURGH PA 15219 471471501 REAL ESTATE DEVELOPMENT PA BRIDGEWAY CAPITAL INC C 1266885 1.00000 1 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 BRIDGEWAY DEVELOPMENT CORPORATION A 7065 INTEREST BILLED ON LOAN 15CCD CORPORATION B 422211 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION B 1128815 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION D 6760000 GUARANTEE BRIDGEWAY DEVELOPMENT CORPORATION D 796539 LOAN PRINCIPAL ADVANCED IN CASH BRIDGEWAY DEVELOPMENT CORPORATION L 37594 CONTRACT BILLED 15CCD CORPORATION L 8803 CONTRACT BILLED BRIDGEWAY DEVELOPMENT CORPORATION Q 275672 CASH PAYMENT 15CCD CORPORATION Q 144924 CASH PAYMENT 15CCD CORPORATION R 135584 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION R 36442 CASH PAYMENT BRIDGEWAY DEVELOPMENT CORPORATION S 59755 LOAN PRINCIPAL REPAID IN CASH