Blackstone Valley Development Corp

Organization Overview

Blackstone Valley Development Corp is located in Pawtucket, RI. The organization was established in 2009. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blackstone Valley Development Corp 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 12/2021, Blackstone Valley Development Corp generated $169.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $317.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSES FOR WHICH THE CORPORATION IS FORMED ARE AS FOLLOWS: A) TO WORK COOPERATIVELY WITH THE ARC OF BLACKSTONE VALLEY (ABV), A RHODE ISLAND CHARITABLE CORPORATION WHICH IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, WITHOUT LIMITATION, TO ACQUIRE, DEVELOP, OWN, AND OPERATE REAL PROPERTY IN CONNECTION WITH PROJECTS SPONSORED BY ABV OR ITS AFFILIATED ENTITIES, B) TO DEVELOP, INITIATE, AND OPERATE COMMUNITY PROJECTS WHICH COMBAT COMMUNITY DETERIORATION, PROVIDE RELIEF FOR UNDERPRIVILEGED MEMBERS OF THE COMMUNITY AND WHICH ARE CONSISTENT WITH COMMUNITY NEEDS AND DESIRES IN RHODE ISLAND AND ADJACENT STATES (TARGET AREA), AND C) TO ASSIST RESIDENTS AND OTHER ORGANIZATIONS WORKING IN THE TARGET AREA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACQUIRE, DEVELOP, OWN, AND OPERATE REAL PROPERTY IN CONNECTION WITH PROJECTS SPONSORED BY THE ARC OF BLACKSTONE VALLEY OR ITS AFFILIATED ENTITIES.


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $0
Dividends & Interest $12,960
Net Rental Income-$105,159
Net Gain on Sale of Assets $16,622
Capital Gain Net Income $16,622
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $169,369

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