PLATINUM2023

BRIDGE FUND OF NEW YORK INC

We prevent homelessness among the working poor

New York, NY   |  http://www.thebridgefund.org

Mission

The mission of The Bridge Fund is to prevent homelessness for vulnerable, working poor individuals and families who are threatened with the loss of their housing, but often do not qualify for emergency government assistance because they have some income.

Ruling year info

1995

Mr.

Mr. Anthony Sabia

Main address

271 Madison Avenue Ste 907

New York, NY 10016 USA

Show more contact info

EIN

13-3824852

NTEE code info

Human Service Organizations (P20)

Financial Counseling, Money Management (P51)

Food Banks, Food Pantries (K31)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The Bridge Fund of New York Inc. is a privately funded program dedicated to preventing homelessness among the working poor, one of the most vulnerable sectors of our population. The Bridge Fund offers a unique and comprehensive package of services aimed at helping families and individuals overcome their immediate housing crisis (usually the threat of eviction) and maintain long-term stability.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

The Bridge Fund of New York,

The Bridge Fund of New York City
The Bridge Fund of Westchester

Population(s) Served
Economically disadvantaged people
Unemployed people

Preventing homelessness among the working poor of Westchester County, New York with modest, interest-free loans or grants to pay rental arrears, combined with budget counseling to help clients achieve long term housing stability.

Population(s) Served
Economically disadvantaged people
Unemployed people

Preventing homelessness among the working poor of New York City's five boroughs with modest, interest-free loans or grants to pay rental arrears, combined with budget counseling to help clients achieve long term housing stability.

Population(s) Served
Economically disadvantaged people
Unemployed people

Provide comprehensive financial counseling to Bridge Fund clients for the end in mind of preventing a re-occurrence of rental arrears assistance. Counseling includes budget review, income enhancement strategies, referral to eligible income benefits such earn income tax credits, SNAP and Utility assistance.

Population(s) Served
Adults

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Direct service to individuals children and households

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

Includes the number of households, individuals, and children who received aid in Westchester and New York City.

Total Food Cards Purchased

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

The total number of food cards purchased for households, individuals, and children in Westchester and New York City.

Number of households that obtain/retain permanent housing for at least 6 months

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

Economically disadvantaged people

Total expenditures

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

The Bridge Fund of New York,

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

Total dollar amount spent on direct assistance from various sources (Bridge Fund, Networked Funds, and Client contributions) in Westchester and New York City.

Hours of literacy instruction delivered

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Hours of budget counseling in 2022.

Total dollar amount spent on food cards

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Total dollar amount spent on food cards for households, individuals, and children in Westchester and New York City.

Total number of people assisted with utilities

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Total number of people assisted with utility payments in Westchester and New York City.

Total dollars distributed for utilities assistance

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Total dollars spent on utilities assistance for households, individuals, and children in Westchester and New York City.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

At The Bridge Fund, we aim to provide rent relief to our working poor clients located within the five boroughs of New York City and Westchester County, New York. Additionally, we provide guidance to our clients to ensure long-term stability, such as: Information and referrals, budget and career counseling, and financial assistance. Through these resources we hope to teach skills to help our clients remain safely in their homes.

The Bridge Fund prevents homelessness by providing intensive services and interest-free loans, grants or subsidies to pay outstanding rent. Our financial assistance to clients averages $1,500 per household and represents a fraction of the cost of shelter placement, which, for a family, is estimated to be more than $62,000-a-year. Loan repayments can be as little as $5 per month. Consistently, at least 90% of the households that receive our complete package of services are in their homes one-year after our initial intervention!
Approximately 105 organizations and government agencies refer clients to the program by faxing or emailing a completed application, which is reviewed by a case handler within 24 hours. Tenants who contact The Bridge Fund directly are also considered. Those who are facing eviction proceedings and seem to meet the following criteria are invited for an office interview:

Valid reason for owing rent
Enough income to maintain housing beyond our intervention
Viable rental arrears (amount owed can and should be paid)
Continued tenancy rights can be legally preserved

Clients that prove eligible (or can be helped to establish eligibility) and comply with all Bridge Fund directives and requests for documentation receive both services and one-time financial assistance to pay rental arrears or short-term rent subsidies.
All Bridge Fund clients are in imminent danger of eviction or foreclosure due to unforeseen emergencies that cause them to fall behind in their rent payments. These include temporary job loss, funeral expenses and uninsured illness. They have little or no savings, supplement their incomes with food stamps, WIC or other benefits, and use 43% of their $2,332 monthly net income to meet their rent obligations. The average household consists of two individuals. Fifty-eight percent are African American, 31 percent are Hispanic and the remaining 11 percent are Caucasian or other.

As of 2022, 92% of our clients remain stably housed, two-years after we provide emergency financial assistance.

Financials

BRIDGE FUND OF NEW YORK INC
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

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BRIDGE FUND OF NEW YORK INC

Board of directors
as of 09/06/2023
SOURCE: Self-reported by organization
Board chair

Oscar Pollock

Ingalls & Snyder LLC

Oscar S. Pollock

Ingalls & Snyder, LLC

Mary Nan Pollock

Richard D. Ditoro

Lonza Group

Bruce R. Barniker

Bruce Barniker LLC

Joseph H. Cruickshank

The Clark Foundation

Kenneth A. Chandler

Newsmax Media

Paul H. Henkel

Alliance Bernstein

Benjamin K. Joseph

The Related Companies LP

D.Roger B. Liddell

Clear Harbor Asset Management LLC

Tony Pandjiris

Technology Investor

Eon Parks

Martin de Porres Group Homes

James H. Thatcher

Ingalls & Snyder

Foster Birch

Oppenheimer and Co Inc.

Organizational demographics

SOURCE: Self-reported; last updated 6/16/2021

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male, Not transgender (cisgender)
Sexual orientation
Heterosexual or straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 09/01/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.