0001145549-23-015999.txt : 20230313 0001145549-23-015999.hdr.sgml : 20230313 20230313121913 ACCESSION NUMBER: 0001145549-23-015999 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230313 DATE AS OF CHANGE: 20230313 EFFECTIVENESS DATE: 20230313 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRIDGES INVESTMENT FUND INC CENTRAL INDEX KEY: 0000014170 IRS NUMBER: 476027880 STATE OF INCORPORATION: NE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-01209 FILM NUMBER: 23726512 BUSINESS ADDRESS: STREET 1: 13333 CALIFORNIA STREET STREET 2: SUITE 500 CITY: OMAHA STATE: NE ZIP: 68154 BUSINESS PHONE: 402-397-4700 MAIL ADDRESS: STREET 1: 13333 CALIFORNIA STREET STREET 2: SUITE 500 CITY: OMAHA STATE: NE ZIP: 68154 0000014170 S000006176 Bridges Investment Fund, Inc. C000017015 Bridges Investment Fund, Inc. BRGIX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000014170 XXXXXXXX false false false N-1A true Bridges Investment Fund Inc 811-01209 0000014170 54930075FX4DSGKQ4I88 13333 California Street Suite 500 Omaha 68154 US-NE US 4023974700 U.S. Bancorp Fund Services, LLC 615 East Michigan Street Milwaukee 53202 8336121912 Accountant and Transfer Agent U.S. Bank, National Association 1555 North River Center Drive Suite 302 Milwaukee 53212 8336121912 Custodian Quasar Distributors, LLC 111 East Kilbourn Avenue Suite 2200 Milwaukee 53202-3101 8336121912 Distributor Cohen & Company, Ltd. 342 North Water Street Suite 830 Milwaukee 53202 4142036340 Independent Registered Public Accounting Firm N Y N N-1A 1 Y Daniel J. Brabec N/A N Nathan Phillips Dodge III N/A N Jeffrey C. Royal N/A N Greg Harris N/A N Kelly A. Walters N/A N Lyn Wallin Ziegenbein N/A N Edson L. Bridges III 002280928 Y Robert W. Bridges N/A Y Greg Harris N/A N Nancy K. Dodge 002280880 13333 California Street Suite 500 Omaha 68154 XXXXXX N N N N N N N Quasar Distributors, LLC 8-52323 000103848 N/A N N Cohen & Company, Ltd. 925 N/A Cohen & Company, Ltd. 00925 N/A N N N N N N N Bridges Investment Fund, Inc. S000006176 54930075FX4DSGKQ4I88 N 1 0 0 N/A N N N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Y N N N Bridges Investment Management Inc 801-57056 000108028 N/A N US Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc 5493000F4ZO33MV32P92 N N U.S. Bank, National Association 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N US Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N Y Bridges Investment Management Inc N/A Y N N Capital Institutional Services Inc 8-22273 000007551 54930061X8RDWFDJIS05 7355.000000000000 7355.000000000000 0.000000000000 N 212133969.000000000000 N N true INTERNAL CONTROL RPT 2 bridgesinternalcontrol.htm BRIDGES INTERNAL CONTROL LETTER 12.31.22

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Directors of
Bridges Investment Fund, Inc.
 
In planning and performing our audit of the financial statements of Bridges Investment Fund, Inc. (the “Fund”) as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N‐CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and directors of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
 
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2022.

This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ COHEN & COMPANY, LTD.

COHEN & COMPANY, LTD.
Milwaukee, Wisconsin
February 24, 2023