Civic Intelligence

Jobs for Fall River Inc

990 • Fiscal year 2022 • EIN 04-2655817

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 17, 2023

139 South Main Street 400Fall River, MA 02721

(508) 324-2620

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.28x

Higher debt load relative to assets than 64% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

80th percentile

1.88x

Higher debt load relative to revenue than 80% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Net Margin

55th percentile

9.2%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

65th percentile

$227,543

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 14.0% of source-year revenue.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Asset Growth

21st percentile

-8.2%

Faster asset growth than 21% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

10th percentile

-41%

Faster revenue growth than 10% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$10,855,631

Down $968,458 (-8.2%) from 2021

Net Assets

Up

$7,790,384

Up $149,737 (+2.0%) from 2021

Liabilities

Down

$3,065,247

Down $1,118,195 (-27%) from 2021

Revenue

Down

$1,626,254

Down $1,137,222 (-41%) from 2021

Expenses

Up

$1,476,517

Up $320,058 (+28%) from 2021

Net Income

Down

$149,737

Down $1,457,280 (-91%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2011: $14,828,739Liabilities 2011: $6,676,160Net Assets 2011: $8,152,5792011Assets 2012: $16,667,930Liabilities 2012: $8,643,958Net Assets 2012: $8,023,9722012Assets 2013: $16,307,405Liabilities 2013: $8,564,444Net Assets 2013: $7,742,9612013Assets 2014: $14,949,526Liabilities 2014: $7,409,268Net Assets 2014: $7,540,2582014Assets 2015: $12,873,213Liabilities 2015: $5,899,236Net Assets 2015: $6,973,9772015Assets 2016: $12,044,101Liabilities 2016: $5,036,536Net Assets 2016: $7,007,5652016Assets 2017: $12,204,744Liabilities 2017: $4,998,287Net Assets 2017: $7,206,4572017Assets 2018: $12,016,770Liabilities 2018: $4,937,758Net Assets 2018: $7,079,0122018Assets 2019: $10,602,274Liabilities 2019: $4,162,736Net Assets 2019: $6,439,5382019Assets 2020: $10,298,907Liabilities 2020: $4,265,277Net Assets 2020: $6,033,6302020Assets 2021: $11,824,089Liabilities 2021: $4,183,442Net Assets 2021: $7,640,6472021Assets 2022: $10,855,631Liabilities 2022: $3,065,247Net Assets 2022: $7,790,3842022Assets 2023: $10,598,026Liabilities 2023: $2,967,254Net Assets 2023: $7,630,7722023Assets 2024: $10,067,879Liabilities 2024: $2,962,116Net Assets 2024: $7,105,7632024Assets 2025: $7,678,698Liabilities 2025: $2,751,080Net Assets 2025: $4,927,6182025

Highlighted filing

2022

Assets$10,855,631
Liabilities$3,065,247
Net Assets$7,790,384

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2011: $1,124,6862011Expenses 2012: $1,163,9962012Revenue 2013: $966,002Expenses 2013: $1,247,013Net Income 2013: -$281,0112013Revenue 2014: $936,390Expenses 2014: $1,139,093Net Income 2014: -$202,7032014Revenue 2015: $801,832Expenses 2015: $1,323,978Net Income 2015: -$522,1462015Revenue 2016: $959,047Expenses 2016: $925,459Net Income 2016: $33,5882016Revenue 2017: $1,057,566Expenses 2017: $858,674Net Income 2017: $198,8922017Revenue 2018: $1,193,459Expenses 2018: $1,320,904Net Income 2018: -$127,4452018Revenue 2019: $568,192Expenses 2019: $1,207,666Net Income 2019: -$639,4742019Revenue 2020: $662,906Expenses 2020: $1,068,814Net Income 2020: -$405,9082020Revenue 2021: $2,763,476Expenses 2021: $1,156,459Net Income 2021: $1,607,0172021Revenue 2022: $1,626,254Expenses 2022: $1,476,517Net Income 2022: $149,7372022Revenue 2023: $1,157,861Expenses 2023: $1,317,473Net Income 2023: -$159,6122023Revenue 2024: $1,120,696Expenses 2024: $1,645,705Net Income 2024: -$525,0092024Revenue 2025: $1,013,688Expenses 2025: $3,191,833Net Income 2025: -$2,178,1452025

Highlighted filing

2022

Revenue$1,626,254
Expenses$1,476,517
Net Income$149,737
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 17, 2023
Return Version
2021v4.2
Gross Receipts
$1,626,254
Mission and Program Overview

Mission

The organization's mission is to promote prosperity and the general welfare of the citizens of the city of fall river by stimulating economic and industrial growth and expansion in the area to include the city of fall river and the towns of freetown, somerset and westport.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,257,891$4,061,986▼ $195,905
Other Notes and Loans Receivable, Net$4,744,201$3,796,179▼ $948,022
Savings and Temporary Cash Investments$2,211,984$2,341,450▲ $129,466
Cash and Non-Interest-Bearing Accounts$295,120$504,630▲ $209,510
Accounts Receivable$140,924$49,652▼ $91,272
Intangible Assets$48,827$48,827→ $0
Pledges and Grants Receivable$106,985$34,011▼ $72,974
Prepaid Expenses and Deferred Charges$18,157$18,896▲ $739
Total Assets$11,824,089$10,855,631▼ $968,458
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,772,412$2,947,802▼ $824,610
Unsecured Notes Loans Payable$250,000$0▼ $250,000
Accounts Payable and Accrued Expenses$155,655$112,173▼ $43,482
Escrow Account Liability$5,375$5,272▼ $103
Total Liabilities$4,183,442$3,065,247▼ $1,118,195
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,436,134$4,674,658▲ $238,524
Net Assets Without Donor Restrictions$3,204,513$3,115,726▼ $88,787
Total Net Assets Fund Balance$7,640,647$7,790,384▲ $149,737
Total Liabilities and Net Assets / Fund Balance$11,824,089$10,855,631▼ $968,458

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,912,686$3,740,508$7,653,194
Land$135,000-$135,000
Other Land Buildings$14,300$85,003$99,303
Equipment$0$46,469$46,469
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kenneth FiolaExecutive Vice PresidentFT$203,379$24,784$228,163
Lynn OliveiraChief Financial OfficerFT$85,236$33,582$118,818

Board Members and Trustees

NameTitle
Frank MarchionePresident
James M KaramVice President
Ron RusinClerk
Bruce FernandesMember at Large
Francisco J CabralMember at Large
Fred M FrancoMember at Large
James P SabraMember at Large
James WallaceMember at Large
Janna LafranceMember at Large
John SilvaMember at Large
Kenneth R RezendesMember at Large
Maria Ferreira-bedardMember at Large
Mark CordeiroMember at Large
Michael BenevidesMember at Large
Michael BushellMember at Large
Michael LundMember at Large
Michelle PelletierMember at Large
Paul C BurkeMember at Large
Paul S MedeirosMember at Large
Rebecca CollinsMember at Large
Robert MongeonMember at Large
Carlos a DacunhaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$853,268
Program Service Revenue
$753,874
Investment Income
$4,210
Other Revenue
$14,902
Change in Net Assets
$149,737

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,626,254
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,626,254
Total Revenue per Form 990
$1,626,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$674,365
Salaries, Compensation, and Employee Benefits$474,652
Grants and Similar Amounts Paid$327,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$72,165$300,751-$372,916
Grants to Domestic Orgs$327,500--$327,500
Occupancy$292,667$6,520-$299,187
Depreciation Depletion$194,935$970-$195,905
Other Salaries and Wages$38,099$35,405-$73,504
Insurance$53,227$5,831-$59,058
Interest$27,228$140-$27,368
Fees for Services Accounting$10,250$16,760-$27,010
Office Expenses$8,268$17,906-$26,174
Payroll Taxes$25,474--$25,474
Fees for Services Other$9,325$6,371-$15,696
Advertising$12,120$5-$12,125
Other Expenses-$6,093-$6,093
Travel$1,250$3,090-$4,340
Pension Plan Contributions$591$949-$1,540
Fees for Services Legal-$1,409-$1,409
Other Employee Benefits-$1,218-$1,218
Total Functional Expenses$1,073,099$403,418$0$1,476,517

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,476,517
Total Expenses per Audited Statements$1,476,517
Total Expenses per Form 990$1,476,517
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization contemporaneously documents meetings held by the finance committee but does not do so for meetings of the executive committee. The executive committee, consisting of the officers of the organization, meets monthly and does not keep minutes; an agenda of each meeting is prepared and maintained. The executive committee does have the authority, granted by the board of directors, to approve raises and the financial statement audit. Approval of such is either documented in memo form or contract and approvals are noted at the next board of directors meeting.

Form 990, Part VI, Section B, Line 11B

Executive director reviews the form 990 and submits the form for approval by the executive committee. The full board has reviewed form 990 prior to submission.

Form 990, Part VI, Section B, Line 12C

Each member of the board of directors receives a copy of the conflict of interest policy and annually is required to return provided statement that they have read this policy and to state whether any conflicts exist and if so what conflicts there are.

Form 990, Part VI, Section B, Line 15A

Executive committee approves compensation of executive director per approval of the board. Compensation is recorded by contract over five year period. See schedule j.

Form 990, Part VI, Section C, Line 18

All forms are available upon request. Form 990 is also available at www.guidestar.org.

Form 990, Part VI, Section C, Line 19

A copy of the bylaws is available upon request and after consideration. The conflict of interest policy is available upon request. The articles of incorporation are available via the office of the secretary of the commonwealth of massachusetts. Copies of financial statements are available upon request and are also accessible online through the commonwealth of massachusetts division of public charities.

Filing and Contact Details

Filer

Filer Name
Jobs for Fall River Inc
EIN
04-2655817
Phone
5083242620
Address
139 SOUTH MAIN STREET 400, FALL RIVER, MA 02721
Doing Business As
Bristol County Edc

Signing Officer

Name
Kenneth Fiola
Title
Executive Vice President
Phone
5083242620
Signed
2023-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Marchione
Formed
1978
Legal Domicile
Ma
Voting Board Members
22
Independent Board Members
22
Employees
4
Volunteers
22

Preparer

Firm
Cohnreznick Llp
Address
10 FORBES ROAD SUITE 200, BRAINTREE, MA 02184
Preparer
Jolanta Tuck CPA
Phone
7813803520
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

The escrow liability at the end of the year was $5,272.

PART X, LINE 2:

The organization accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the consolidated financial statements regarding a tax position taken or expected to be taken in a tax return. The organization has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the consolidated financial statements at june 30, 2022 and 2021. Generally, the organization's information/tax returns remain open for possible federal income tax examination for three years after the filing date. The organization is not currently under examination by any taxing jurisdiction, however years subsequent to 2018 remain open for audit.

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IRS990/Form990PartVIISectionAGrp/PersonNm16ROBERT MONGEON
IRS990/Form990PartVIISectionAGrp/PersonNm17MICHELLE PELLETIER
IRS990/Form990PartVIISectionAGrp/PersonNm18KENNETH R REZENDES
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMES P SABRA
IRS990/Form990PartVIISectionAGrp/PersonNm20JOHN SILVA
IRS990/Form990PartVIISectionAGrp/PersonNm21JAMES WALLACE
IRS990/Form990PartVIISectionAGrp/PersonNm22KENNETH FIOLA
IRS990/Form990PartVIISectionAGrp/PersonNm23LYNN OLIVEIRA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt22218916
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2385236
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt19MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt21MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHIEF FINANCIAL OFFICER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01978
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt022
IRS990/GovernmentGrantsAmt0853268
IRS990/GrantAmt0327500
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0327500
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0327500
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01626254
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt022
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt05831
IRS990/InsuranceGrp/ProgramServicesAmt053227
IRS990/InsuranceGrp/TotalAmt059058
IRS990/IntangibleAssetsGrp/BOYAmt048827
IRS990/IntangibleAssetsGrp/EOYAmt048827
IRS990/InterestGrp/ManagementAndGeneralAmt0140
IRS990/InterestGrp/ProgramServicesAmt027228
IRS990/InterestGrp/TotalAmt027368
IRS990/InvestmentIncomeGrp/ExclusionAmt04210
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04210
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt08
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03871980
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04257891
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04061986
IRS990/LandBldgEquipCostOrOtherBssAmt07933966
IRS990/LegalDomicileStateCd0MA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt014902
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt014902
IRS990/MissionDesc0THE ORGANIZATION'S MISSION IS TO PROMOTE PROSPERITY AND THE GENERAL WELFARE OF THE CITIZENS OF THE CITY OF FALL RIVER BY STIMULATING ECONOMIC AND INDUSTRIAL GROWTH AND EXPANSION IN THE AREA TO INCLUDE THE CITY OF FALL RIVER AND THE TOWNS OF FREETOWN, SOMERSET AND WESTPORT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt03772412
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt02947802
IRS990/NetAssetsOrFundBalancesBOYAmt07640647
IRS990/NetAssetsOrFundBalancesEOYAmt07790384
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03204513
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03115726
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt06520
IRS990/OccupancyGrp/ProgramServicesAmt0292667
IRS990/OccupancyGrp/TotalAmt0299187
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt017906
IRS990/OfficeExpensesGrp/ProgramServicesAmt08268
IRS990/OfficeExpensesGrp/TotalAmt026174
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01218
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01218
IRS990/OtherExpensesGrp/Desc0EQUIPMENT RENTAL AND MA
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06093
IRS990/OtherExpensesGrp/TotalAmt06093
IRS990/OtherInd0X
IRS990/OtherRevenueTotalAmt014902
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt035405
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt038099
IRS990/OtherSalariesAndWagesGrp/TotalAmt073504
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04744201
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03796179
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt025474
IRS990/PayrollTaxesGrp/TotalAmt025474
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0949
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0591
IRS990/PensionPlanContributionsGrp/TotalAmt01540
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0106985
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt034011
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt018157
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt018896
IRS990/PrincipalOfficerNm0FRANK MARCHIONE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1541610
IRS990/ProgramServiceRevenueGrp/BusinessCd2522200
IRS990/ProgramServiceRevenueGrp/BusinessCd3522200
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL RECEIPTS
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc2INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc3LOAN ORIG.& SERV. FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0328713
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1245688
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2172375
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt37098
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0328713
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1245688
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2172375
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt37098
IRS990/ProgSrvcAccomActy2Grp/Desc0PROPERTY DEVELOPMENT ACTIVITIES: THE REFURBISHMENT AND OPERATION OF A HISTORIC DOWNTOWN BUILDING DEVELOPED AS COMMERCIAL, RETAIL AND/OR CAMPUS SPACE. LOCATED IN AN ECONOMICALLY CHALLENGED AREA OF FALL RIVER (THE "CITY") WITH THE INTENTION OF PROVIDING ECONOMIC DEVELOPMENT AND RECOVERY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0486585
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0328713
IRS990/ProgSrvcAccomActy3Grp/Desc0PROPERTY RESTORATION ACTIVITIES: AT ITS INCEPTION, IT WAS TO RESTORE AND PRESERVE THE LINCOLN PARK CAROUSEL, A PHILADELPHIA TOBOGGAN COMPANY CAROUSEL CONSTRUCTED IN 1920. THE CAROUSEL WAS FULLY RESTORED AND OPERATIONAL IN 1985. THIS LOCAL LANDMARK WAS PLACED AT THE CITY'S WATERFRONT NEXT TO BATTLESHIP COVE. EFFECTIVE JULY 1, 2021, THECAROUSEL WILL BE LEASED AND OPERATED BY FALL RIVER CAROUSEL CREAMERY. REVENUES DERIVED FROM ITS OPERATION ARE KEPT AND REPORTED BY THE UMMC AND APPLIED TO THEIR COSTS OF OPERATIONS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt063314
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ECONOMIC DEVELOPMENT ACTIVITIES THAT INCLUDE ASSISTING LOCAL COMPANIES WITH THEIR EXPANSION PLANS OR OTHER BUSINESS CONCERNS: MARKETING THE CITY OF FALL RIVER WORLDWIDE, IN ORDER TO PURSUE NEW BUSINESS INVESTMENT OR OTHER SIMILAR INITIATIVES.
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0245688
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01978812
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt04461
IRS990/PYOtherExpensesAmt0697616
IRS990/PYOtherRevenueAmt02228
IRS990/PYProgramServiceRevenueAmt0777975
IRS990/PYRevenuesLessExpensesAmt01607017
IRS990/PYSalariesCompEmpBnftPaidAmt0458843
IRS990/PYTotalExpensesAmt01156459
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02763476
IRS990/ReconcilationRevenueExpnssAmt0149737
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.68$2.75$4.93$1.01$3.19$2.18
2024Detailed filing. Detailed filing data is available for this year.$10.1$2.96$7.11$1.12$1.65$0.53
2023Detailed filing. Detailed filing data is available for this year.$10.6$2.97$7.63$1.16$1.32$0.16
2022Detailed filing. Detailed filing data is available for this year.$10.9$3.07$7.79$1.63$1.48$0.15
2021Detailed filing. Detailed filing data is available for this year.$11.8$4.18$7.64$2.76$1.16$1.61
2020Detailed filing. Detailed filing data is available for this year.$10.3$4.27$6.03$0.66$1.07$0.41
2019Detailed filing. Detailed filing data is available for this year.$10.6$4.16$6.44$0.57$1.21$0.64
2018Detailed filing. Detailed filing data is available for this year.$12.0$4.94$7.08$1.19$1.32$0.13
2017Detailed filing. Detailed filing data is available for this year.$12.2$5.00$7.21$1.06$0.86$0.20
2016Detailed filing. Detailed filing data is available for this year.$12.0$5.04$7.01$0.96$0.93$0.03
2015Detailed filing. Detailed filing data is available for this year.$12.9$5.90$6.97$0.80$1.32$0.52
2014Detailed filing. Detailed filing data is available for this year.$14.9$7.41$7.54$0.94$1.14$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$8.56$7.74$0.97$1.25$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$8.64$8.02$1.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$6.68$8.15$1.12