2024-11-14T13:13:55-08:00 2023-12-31 363794537 Timmer And Associates CPA PC 4480 - 48th Avenue Ct Suite 3 Rock Island IL 61201 990 2023-01-01 471937546 BRIDGE INVESTMENT COMMUNITY DEVELOPMENT BRID 3097946711 100 19TH STREET 109 ROCK ISLAND IL 61201 KEVIN SCHOONMAKER Chair 2024-11-14 true true JOHN D TIMMER CPA P00118477 3097882304 2023 2024-10-15 13:58:12Z KEVIN SCHOONMAKER 100 19TH STREET 109 ROCK ISLAND IL 61201 947893 false X WWW.BRIDGEINVESTMENTCDC.ORG X 2014 IL SUPPORT JOB CREATION AND ECONOMIC GROWTH IN LOW AND MODERATE INCOME COMMUNITIES BY PROVIDING COMMUNITY BASED LENDING AND INVESTMENT. 14 14 0 15 0 516698 838791 77416 98727 0 -3480 -5753 590634 931765 0 0 0 0 0 142140 207870 142140 207870 448494 723895 3078238 3443286 1404233 1045386 1674005 2397900 SUPPORT JOB CREATION AND ECONOMIC GROWTH BY PROVIDING COMMUNITY BASED LENDING AND INVESTMENT WHILE FOSTERING THE CREATION AND PRESERVATION OF LOW AND MODERATE INCOME HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS. false false 160920 97303 PROMOTED THE PURPOSE OF THE ORGANIZATION TO RECRUIT MEMBERS WHO ARE COMMITTED TO THE ORGANIZATION'S MISSION AND ADMINISTERED LENDING ACTIVITIES INCLUDING ORIGINATING AND SERVICING LOANS. 160920 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false true 1 0 true 0 false false false false false false false 0 false false false false false false false X 14 14 false true false false false false false true true false false true true true true true true false false false IL CINDY BERG 3097946711 100 19TH STREET SUITE 109 ROCK ISLAND IL 61201 X SAMEER KULKARNI Director 0.00 0.00 X 0 0 0 DAN BLOCHER Director 0.00 0.00 X 0 0 0 BRIAN HOLLENBACK Executive Dir. 0.00 0.00 X X 0 0 0 KAREN REYNOLDS Director 0.00 0.00 X 0 0 0 MARCUS WYNN Director 0.00 0.00 X 0 0 0 CHUCK SORENSEN Director 0.00 0.00 X 0 0 0 JOHN DALY Director 0.00 0.00 X 0 0 0 JUSTIN PETERSON Director 0.00 0.00 X 0 0 0 MATT WYNN Treasurer 0.00 0.00 X X 0 0 0 FRANK NOWINSKI Director 0.00 0.00 X 0 0 0 DIRK MEMINGER Secretary 0.00 0.00 X X 0 0 0 KEVIN SCHOONMAKER Chairman 0.00 0.00 X X 0 0 0 RIC PARADES Director 0.00 0.00 X 0 0 0 DR AHMED OKBA Director 0.00 0.00 X 0 0 0 0 false false false 0 47238 791553 47238 838791 INTEREST INCOME-CASH 280 280 INTEREST INCOME-LOANS 89692 89692 LOAN FEE REVENUE 7331 7331 MISC INCOME 1279 1279 RETURNED CHECK CHARGES 145 145 98727 0 0 0 10375 16128 -5753 -5753 -5753 0 0 0 0 0 931765 92974 X 0 0 0 0 0 0 0 0 0 0 18555 9555 9000 0 0 0 0 0 69307 41507 27800 0 1955 1955 0 0 8742 8742 386 386 0 0 25407 25407 0 0 4439 4439 SUBCONTRACT 35492 35492 TELEPHONE/INTERNET 17894 17894 MARKETING 12736 12736 PROVISION FOR LOAN LOSS 5000 5000 7957 2246 5711 207870 160920 46950 0 101265 367787 0 0 8549 55 0 0 2756283 2851517 0 0 156693 47907 114385 108786 0 0 0 0 97756 115141 3078238 3443286 73032 110439 1330226 934447 975 500 1404233 1045386 X 1483728 2063821 190277 334079 1674005 2397900 3078238 3443286 723895 X true X true X true false X 165000 422000 227500 518413 838791 2171704 0 3450 3525 7100 6850 7331 28256 0 0 168450 425525 234600 525263 846122 2199960 0 0 2199960 55667 48381 55104 80550 101771 341473 0 55667 48381 55104 80550 101771 341473 0 0 224117 473906 289704 605813 947893 2541433 0.86560 0.85340 0.13440 0.14660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150000 41214 108786 6693 6693 108786 TENANT SECURITY DEPOSITS 500 500 X 931765 931765 931765 207870 207870 207870 Part X : FIN48 Footnote The Organization has received notification that it qualifies as a tax-exempt organization under Section 501 (c) (3) of the U.S. Internal Revenue Code and the corresponding provisions of Illinois law and, accordingly, is not subject to federal or state income taxes. As of December 31, 2023, management is not aware of any uncertain tax positions and related tax benefits which would be material to the Organization. BRIAN HOLLENBACK EXECUTIVE DIRECTOR LOAN-SEE PART V false Schedule L, Part V Supplemental Information PART IV (1) - BRIAN HOLLENBACK IS THE PRESIDENT OF ROCK ISLAND ECONOMIC GROWTH CORPORATION. BRIDGE INVESTMENT COMMUNITY DEVELOPMENT CORPORATION LOANED ROCK ISLAND ECONOMIC GROWTH CORPORATION A TOTAL OF $1,258,376. THESE LOANS WERE REVIEWED AND APPROVED BY BRIDGE INVESTMENT CDC'S LOAN COMMITTEE WHICH IS ENTIRELY INDEPENDENT OF ROCK ISLAND ECONOMIC GROWTH CORPORATION AND INCLUDE FEES AND/OR INTEREST RATES COMPARABLE TO OTHER LOANS. Loan Forgiven 47238 false false false Form 990, Part VI, Section A, Line 3 BRIDGE INVESTMENT COMMUNITY DEVELOPMENT HAS DELEGATED DAY TO DAY MANAGEMENT OF THE ORGANIZATION TO ROCK ISLAND ECONOMIC GROWTH CORPORATION UNDER A WRITTEN MANAGMENT SERVICES AGREEMENT. THE MANAGEMENT SERVICES AGREEMENT IS DATED January 1, 2022 AND RENEWS ANNUALLY UNTIL NOTICE IS GIVEN BY EITHER PARTY. Form 990, Part VI, Section B, Line 11b A PRELIMINARY DRAFT OF THE FORM 990 IS PROVIDED TO THE APPROPRIATE BOARD/COMMITTEE MEMBERS FOR APPROVAL BEFORE IT IS FINALIZED FOR SIGNATURE. Form 990, Part VI, Section B, Line 12c THE BOARD ANNUALLY REVIEWS CONFLICT OF INTEREST STATEMENTS; ANY CHANGES ARE REQUIRED TO BE PROMPTLY DISCLOSED TO THE BOD. Form 990, Part VI, Section C, Line 19 FILES ARE MAINTAINED IN THE ORGANIZATION'S OFFICE AND UPON REQUEST DESIGNATED PERSONS ARE NOTIFIED TO PROVIDE COPIES TO REQUESTOR.