Pawtuckets Business Development Corporation
- Assets
- $691.7k
- Revenue
- $83.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Pawtucket, RI
- Founding
- 08/1981
- Data as of
- 06/2021
- EIN
- 05-0388178
Organization Overview
Pawtuckets Business Development Corporation is located in Pawtucket, RI. The organization was established in 1981. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pawtuckets Business Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Pawtuckets Business Development Corporation generated $83.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.2% each year . All expenses for the organization totaled $21.4k during the year ending 06/2021. While expenses have increased by 3.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION FOSTERS ECONOMIC GROWTH IN PAWTUCKET THROUGH GAP LOAN FINANCING TO PROMOTE EMPLOYMENT CREATION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF JUNE 30, 2021 THE CORPORATION MANAGED 43 COMMERCIAL "GAP FINANCING" LOANS WHICH ENABLED THE BORROWS TO CREATE LOW TO MODERATE JOBS.
AS OF JUNE 30, 2021 THE CORPORATION MANAGED 43 COMMERCIAL "GAP FINANCING" LOANS WHICH ENABLED THE BORROWS TO CREATE LOW TO MODERATE JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Hennigan Secretary | OfficerTrustee | 1 | $0 |
Linda Dewing Secretary | OfficerTrustee | 1 | $0 |
Richard Sugerman Vice President | OfficerTrustee | 1 | $0 |
John Neary Treasurer | OfficerTrustee | 1 | $0 |
Jan Brodie President | OfficerTrustee | 1 | $0 |
Isaac Amponsah Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,900 |
| Total Program Service Revenue | $18,943 |
| Investment income | $163 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,006 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,900 |
| Fees for services: Accounting | $10,683 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,050 |
| Office expenses | $734 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $21,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,202 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $618,890 |
| Intangible assets | $0 |
| Other assets | $7,752 |
| Total assets | $691,674 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $79,449 |
| Net assets with donor restrictions | $612,225 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $691,674 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pawtuckets Business Development Corporation has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Bristol County Savings Charitable Foundation Inc Taunton, MA PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeastern New England Defense Industry Alliance Middletown, RI | $1,374,254 | $9,240,701 |
Connstep Inc Hartford, CT | $5,391,864 | $6,270,830 |
Science Park Development Corporation New Haven, CT | $13,300,850 | $3,489,303 |
Commonwell Health Alliance Inc Boston, MA | $1,975,770 | $5,889,825 |
Interise Inc Boston, MA | $1,805,112 | $4,942,070 |
Fclt Co Boston, MA | $4,596,416 | $4,751,109 |
Franklin County Community Greenfield, MA | $6,618,816 | $3,631,573 |
Standardbed Owners Of Massachusetts Incorporated Plainville, MA | $907,568 | $2,563,364 |
Nfc Forum Inc Wakefield, MA | $1,899,401 | $1,800,460 |
Northeast Clean Energy Council Boston, MA | $696,894 | $1,678,012 |
Kendall Square Association Cambridge, MA | $1,449,691 | $1,405,804 |
Enterprise Ethereum Alliance Inc Wakefield, MA | $1,078,559 | $950,313 |