Civic Intelligence

Economic Development Foundation of Rhode

EIN 05-0319515 • 501(c)4 • Cumberland, RI

Profile

To develop and sell real estate to facilitate local tax base expansion and quality job opportunites in the state of rhode island.

1300 Highland Corporate Dr 202Cumberland, RI 02864

www.edf-ri.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

60th percentile

0.13x

Higher debt load relative to revenue than 60% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Net Margin

11th percentile

-23%

Higher net margin than 11% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

92nd percentile

$221,414

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 66.7% of source-year revenue.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Asset Growth

24th percentile

-3.6%

Faster asset growth than 24% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

56th percentile

11%

Faster revenue growth than 56% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$4,313,657

Down $162,690 (-3.6%) from 2024

Liabilities

Down

$42,236

Down $85,500 (-67%) from 2024

Net Assets

Down

$4,271,421

Down $77,190 (-1.8%) from 2024

Operations
Liabilities / Revenue60th percentileNet Margin11th percentile

Revenue

Up

$332,003

Up $34,119 (+11%) from 2024

Expenses

Down

$409,193

Down $133,565 (-25%) from 2024

Net Income

Up

-$77,190

Up $167,684 (+68%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $7,034,334Liabilities 2011: $697,279Net Assets 2011: $6,337,0552011Assets 2012: $8,043,880Liabilities 2012: $2,096,250Net Assets 2012: $5,947,6302012Assets 2013: $7,938,055Liabilities 2013: $2,060,425Net Assets 2013: $5,877,6302013Assets 2014: $6,865,208Liabilities 2014: $343,677Net Assets 2014: $6,521,5312014Assets 2015: $6,406,702Liabilities 2015: $104,887Net Assets 2015: $6,301,8152015Assets 2016: $6,191,308Liabilities 2016: $106,161Net Assets 2016: $6,085,1472016Assets 2017: $6,057,131Liabilities 2017: $130,850Net Assets 2017: $5,926,2812017Assets 2018: $5,934,825Liabilities 2018: $121,873Net Assets 2018: $5,812,9522018Assets 2019: $5,744,595Liabilities 2019: $122,796Net Assets 2019: $5,621,7992019Assets 2020: $5,551,780Liabilities 2020: $174,171Net Assets 2020: $5,377,6092020Assets 2021: $5,351,051Liabilities 2021: $113,124Net Assets 2021: $5,237,9272021Assets 2022: $5,078,883Liabilities 2022: $119,262Net Assets 2022: $4,959,6212022Assets 2023: $4,740,774Liabilities 2023: $147,289Net Assets 2023: $4,593,4852023Assets 2024: $4,476,347Liabilities 2024: $127,736Net Assets 2024: $4,348,6112024Assets 2025: $4,313,657Liabilities 2025: $42,236Net Assets 2025: $4,271,4212025

Highlighted filing

2025

Assets$4,313,657
Liabilities$42,236
Net Assets$4,271,421
Open 2025 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $704,8572011Expenses 2012: $678,6172012Revenue 2013: $609,818Expenses 2013: $679,818Net Income 2013: -$70,0002013Revenue 2014: $574,836Expenses 2014: $538,547Net Income 2014: $36,2892014Revenue 2015: $349,923Expenses 2015: $569,639Net Income 2015: -$219,7162015Revenue 2016: $379,315Expenses 2016: $604,955Net Income 2016: -$225,6402016Revenue 2017: $442,971Expenses 2017: $601,837Net Income 2017: -$158,8662017Revenue 2018: $410,502Expenses 2018: $523,831Net Income 2018: -$113,3292018Revenue 2019: $345,531Expenses 2019: $536,684Net Income 2019: -$191,1532019Revenue 2020: $417,669Expenses 2020: $661,859Net Income 2020: -$244,1902020Revenue 2021: $363,981Expenses 2021: $503,663Net Income 2021: -$139,6822021Revenue 2022: $245,832Expenses 2022: $524,138Net Income 2022: -$278,3062022Revenue 2023: $522,042Expenses 2023: $888,178Net Income 2023: -$366,1362023Revenue 2024: $297,884Expenses 2024: $542,758Net Income 2024: -$244,8742024Revenue 2025: $332,003Expenses 2025: $409,193Net Income 2025: -$77,1902025

Highlighted filing

2025

Revenue$332,003
Expenses$409,193
Net Income-$77,190
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,313,657
Liabilities
$42,236
Net assets
$4,271,421
Revenue
$332,003
Expenses
$409,193
Net income
-$77,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.31$0.04$4.27$0.33$0.41$0.08
2024Detailed filing. Detailed filing data is available for this year.$4.48$0.13$4.35$0.30$0.54$0.24
2023Detailed filing. Detailed filing data is available for this year.$4.74$0.15$4.59$0.52$0.89$0.37
2022Detailed filing. Detailed filing data is available for this year.$5.08$0.12$4.96$0.25$0.52$0.28
2021Detailed filing. Detailed filing data is available for this year.$5.35$0.11$5.24$0.36$0.50$0.14
2020Detailed filing. Detailed filing data is available for this year.$5.55$0.17$5.38$0.42$0.66$0.24
2019Detailed filing. Detailed filing data is available for this year.$5.74$0.12$5.62$0.35$0.54$0.19
2018Detailed filing. Detailed filing data is available for this year.$5.93$0.12$5.81$0.41$0.52$0.11
2017Detailed filing. Detailed filing data is available for this year.$6.06$0.13$5.93$0.44$0.60$0.16
2016Detailed filing. Detailed filing data is available for this year.$6.19$0.11$6.09$0.38$0.60$0.23
2015Detailed filing. Detailed filing data is available for this year.$6.41$0.10$6.30$0.35$0.57$0.22
2014Detailed filing. Detailed filing data is available for this year.$6.87$0.34$6.52$0.57$0.54$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.94$2.06$5.88$0.61$0.68$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.04$2.10$5.95$0.68
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.03$0.70$6.34$0.70
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$332,003
Mission and Program Overview

Mission

To develop and sell real estate to facilitate local tax base expansion and quality job opportunites in the state of rhode island.

To develop and sell real estate to facilitate local tax base expansion and quality job opportunities in the state of ri

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,187,997$2,228,178▲ $40,181
Savings and Temporary Cash Investments$876,286$717,434▼ $158,852
Cash and Non-Interest-Bearing Accounts$280,102$264,078▼ $16,024
Land, Buildings, and Equipment, Net$184,441$173,758▼ $10,683
Prepaid Expenses and Deferred Charges$8,697$7,368▼ $1,329
Accounts Receivable$4,000$5,588▲ $1,588
Total Assets$4,476,347$4,313,657▼ $162,690
Other Assets Total$934,824$917,253▼ $17,571
Liabilities
Deferred Revenue$27,986$27,986→ $0
Accounts Payable and Accrued Expenses$99,750$14,250▼ $85,500
Total Liabilities$127,736$42,236▼ $85,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,348,611$4,271,421▼ $77,190
Total Net Assets Fund Balance$4,348,611$4,271,421▼ $77,190
Total Liabilities and Net Assets / Fund Balance$4,476,347$4,313,657▼ $162,690

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$170,023$195,651-
Equipment$3,735$37,123-
Other Assets Org$917,253--
Other Securities$2,228,178--
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Scott GibbsPresident Through Dec 2024FT$221,414$221,414
Michelle GodinVice PresidentFT$106,139$106,139

Board Members and Trustees

NameTitle
Colin P KaneChairman
Larry D RiggsVice Chairman
Alan J DoyleDirector
Anthony W CanerDirector
Dana M NewbrookDirector
Gary S SasseDirector
James J BelliveauDirector
John F Mcjennett IiiDirector
John J VernancioDirector
Robert E NaultDirector
Stephen M DylagDirector
Laurel L BowermanSecretary
Lloyd R GariepyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$27,000
Investment Income
$2,975
Other Revenue
$302,028
Change in Net Assets
$-77,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$218,326
Other Expenses$190,867
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$93,609$87,306-$180,915
Fees for Services Other-$40,405-$40,405
Other Employee Benefits$7,337$13,131-$20,468
Payroll Taxes$8,767$8,176-$16,943
Office Expenses-$16,873-$16,873
Fees for Services Accounting-$15,203-$15,203
Insurance-$12,758-$12,758
Depreciation Depletion-$10,683-$10,683
Information Technology-$8,239-$8,239
All Other Expenses-$7,752-$7,752
Other Expenses-$4,598-$4,598
Advertising-$1,515-$1,515
Total Functional Expenses$109,713$299,480$0$409,193
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“The board occasionally votes to authorize the executive committee to finalize legal documents, as long as there are no significant changes from what was presented to the board.”

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

“Forms 990 are prepared by board elected cpa firm. Board reviews all financial statements of organization.”

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

“When a potential conflict of interest arises, the board member exits the room during discussion and abstains from voting.”

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

“The compensation committee annually reviews the officers' compensation and submits recommendations to the board of directors. The recommendations are reviewed by the board and are ratified by a board vote.”

Form 990, Part VI, Section C, Line 18

“Documents available upon request.”

Form 990, Part VI, Section C, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Economic Development Foundation of Rhode
EIN
05-0319515
Phone
4016581050
Address
1300 HIGHLAND CORPORATE DR 202, CUMBERLAND, RI 02864

Signing Officer

Name
Michelle Godin
Title
Vice President
Phone
4016581050
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Godin
Formed
1968
Legal Domicile
Ri
Voting Board Members
13
Independent Board Members
13
Employees
2
Volunteers
13

Preparer

Firm
Cbiz Advisors LLC
Address
100 WESTMINSTER STREET SUITE 500, PROVIDENCE, RI 02903
Preparer
David Fontaine
Phone
4016004500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The economic development foundation of ri, inc. Is exempt from income taxes under the internal revenue code 501(c)(4) as an other-than-private foundation. The organization may be subject to taxes on unrelated business income. However, management believes there was none for the years ended june 30, 2025 and 2024. The organization evaluates their uncertain tax positions as required by asc topic 740, income taxes. The organization does not believe that it has taken any tax positions that would require the recording of a tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next twelve months. Accordingly, the organization has not recognized liabilities for any uncertain tax positions as of june 30, 2025 and 2024. If the organization was to incur an income tax liability in the future, interest on any income tax liability would be reported as interest expense and penalties on any income tax liability would be reported as income tax expense.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT THROUGH DEC 2024
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01968
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0332003
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt08239
IRS990/InformationTechnologyGrp/TotalAmt08239
IRS990/InsuranceGrp/ManagementAndGeneralAmt012758
IRS990/InsuranceGrp/TotalAmt012758
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IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt02187997
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt02228178
IRS990/IRPDocumentCnt03
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt0184441
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0173758
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IRS990/LegalDomicileStateCd0RI
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO DEVELOP AND SELL REAL ESTATE TO FACILITATE LOCAL TAX BASE EXPANSION AND QUALITY JOB OPPORTUNITES IN THE STATE OF RHODE ISLAND.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04348611
IRS990/NetAssetsOrFundBalancesEOYAmt04271421
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04348611
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt04271421
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt016873
IRS990/OfficeExpensesGrp/TotalAmt016873
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0934824
IRS990/OtherAssetsTotalGrp/EOYAmt0917253
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt013131
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt07337
IRS990/OtherEmployeeBenefitsGrp/TotalAmt020468
IRS990/OtherExpensesGrp/Desc0MAINTENANCE
IRS990/OtherExpensesGrp/Desc1CONDO EXPENSES
IRS990/OtherExpensesGrp/Desc2PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt055991
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt111516
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25334
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34598
IRS990/OtherExpensesGrp/TotalAmt055991
IRS990/OtherExpensesGrp/TotalAmt111516
IRS990/OtherExpensesGrp/TotalAmt25334
IRS990/OtherExpensesGrp/TotalAmt34598
IRS990/OtherRevenueMiscGrp/BusinessCd0531120
IRS990/OtherRevenueMiscGrp/BusinessCd1531120
IRS990/OtherRevenueMiscGrp/Desc0PASS THRU INCOME SUBSI
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0243581
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt158447
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0243581
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt158447
IRS990/OtherRevenueTotalAmt0302028
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt087306
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt093609
IRS990/OtherSalariesAndWagesGrp/TotalAmt0180915
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08176
IRS990/PayrollTaxesGrp/ProgramServicesAmt08767
IRS990/PayrollTaxesGrp/TotalAmt016943
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08697
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07368
IRS990/PrincipalOfficerNm0MICHELLE GODIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531310
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt027000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt027000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherExpensesAmt0176229
IRS990/PYOtherRevenueAmt0251074
IRS990/PYProgramServiceRevenueAmt043000
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IRS990/PYSalariesCompEmpBnftPaidAmt0366529
IRS990/PYTotalExpensesAmt0542758
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0297884
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-77190
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0329028
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0876286
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0717434
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0170023
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0195651
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0365674
IRS990ScheduleD/EquipmentGrp/BookValueAmt03735
IRS990ScheduleD/EquipmentGrp/DepreciationAmt037123
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt040858
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0917253
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND INVENTORY
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02228178
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN SUBSIDIARY
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/ProtectionNaturalHabitatInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ECONOMIC DEVELOPMENT FOUNDATION OF RI, INC. IS EXEMPT FROM INCOME TAXES UNDER THE INTERNAL REVENUE CODE 501(C)(4) AS AN OTHER-THAN-PRIVATE FOUNDATION. THE ORGANIZATION MAY BE SUBJECT TO TAXES ON UNRELATED BUSINESS INCOME. HOWEVER, MANAGEMENT BELIEVES THERE WAS NONE FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. THE ORGANIZATION EVALUATES THEIR UNCERTAIN TAX POSITIONS AS REQUIRED BY ASC TOPIC 740, INCOME TAXES. THE ORGANIZATION DOES NOT BELIEVE THAT IT HAS TAKEN ANY TAX POSITIONS THAT WOULD REQUIRE THE RECORDING OF A TAX LIABILITY, NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT TWELVE MONTHS. ACCORDINGLY, THE ORGANIZATION HAS NOT RECOGNIZED LIABILITIES FOR ANY UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2025 AND 2024. IF THE ORGANIZATION WAS TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE AND PENALTIES ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INCOME TAX EXPENSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0173758
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0917253
IRS990ScheduleD/TotalBookValueSecuritiesAmt02228178
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0221414
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SCOTT GIBBS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT THROUGH DEC 2024
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0221414
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE COMPENSATION COMMITTEE ANNUALLY REVIEWS THE OFFICERS' COMPENSATION AND SUBMITS RECOMMENDATIONS TO THE BOARD OF DIRECTORS. THE RECOMMENDATIONS ARE REVIEWED BY THE BOARD AND ARE RATIFIED BY A BOARD VOTE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OCCASIONALLY VOTES TO AUTHORIZE THE EXECUTIVE COMMITTEE TO FINALIZE LEGAL DOCUMENTS, AS LONG AS THERE ARE NO SIGNIFICANT CHANGES FROM WHAT WAS PRESENTED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORMS 990 ARE PREPARED BY BOARD ELECTED CPA FIRM. BOARD REVIEWS ALL FINANCIAL STATEMENTS OF ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WHEN A POTENTIAL CONFLICT OF INTEREST ARISES, THE BOARD MEMBER EXITS THE ROOM DURING DISCUSSION AND ABSTAINS FROM VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION COMMITTEE ANNUALLY REVIEWS THE OFFICERS' COMPENSATION AND SUBMITS RECOMMENDATIONS TO THE BOARD OF DIRECTORS. THE RECOMMENDATIONS ARE REVIEWED BY THE BOARD AND ARE RATIFIED BY A BOARD VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0ECONOMIC DEVELOPMENT FOUNDATION OF RI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt1ECONOMIC DEVELOPMENT FOUNDATION OF RI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd10
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0261626022
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1270228725
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd01
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd11
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1RI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.67800
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct10.87510
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0REAL ESTATE HOLDING
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1REAL ESTATE HOLDING
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0HIGHLAND CCC I LLC

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