Civic Intelligence

Block Island Economic Development Foundation Inc.

990 • Fiscal year 2015 • EIN 05-0381201

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 09, 2016

Organization ProfileN/A
PO Box 619Block Island, RI 02807

(401) 487-0017

Siviq Scores

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

Liabilities / Assets

80th percentile

0.40x

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

15.32x

Higher debt load relative to revenue than 99% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

4th percentile

-87%

Higher net margin than 4% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

29th percentile

-4.1%

Faster asset growth than 29% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

26%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$570,888

Down $24,513 (-4.1%) from 2014

Net Assets

Down

$343,443

Down $12,966 (-3.6%) from 2014

Liabilities

Down

$227,445

Down $11,547 (-4.8%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin4th percentile

Revenue

Up

$14,848

Up $3,058 (+26%) from 2014

Expenses

Down

$27,815

Down $363 (-1.3%) from 2014

Net Income

Up

-$12,967

Up $3,421 (+21%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$600K$400K$200K$0Assets 2014: $595,401Liabilities 2014: $238,992Net Assets 2014: $356,4092014Assets 2015: $570,888Liabilities 2015: $227,445Net Assets 2015: $343,4432015Assets 2016: $536,486Liabilities 2016: $221,123Net Assets 2016: $315,3632016Assets 2017: $524,189Liabilities 2017: $212,886Net Assets 2017: $311,3032017Assets 2018: $496,530Liabilities 2018: $201,467Net Assets 2018: $295,0632018Assets 2019: $472,490Liabilities 2019: $193,523Net Assets 2019: $278,9672019Assets 2020: $464,228Liabilities 2020: $187,417Net Assets 2020: $276,8112020Assets 2021: $441,384Liabilities 2021: $179,371Net Assets 2021: $262,0132021Assets 2022: $414,873Liabilities 2022: $167,689Net Assets 2022: $247,1842022Assets 2023: $396,600Liabilities 2023: $159,774Net Assets 2023: $236,8262023Assets 2024: $372,536Liabilities 2024: $149,084Net Assets 2024: $223,4522024

Highlighted filing

2015

Assets$570,888
Liabilities$227,445
Net Assets$343,443
Open 2015 Filing

Operations Trend

Revenue Growth78th percentile

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

$100K$50K$0-$50KRevenue 2014: $11,790Expenses 2014: $28,178Net Income 2014: -$16,3882014Revenue 2015: $14,848Expenses 2015: $27,815Net Income 2015: -$12,9672015Revenue 2016: $6,234Expenses 2016: $34,314Net Income 2016: -$28,0802016Revenue 2017: $48,670Expenses 2017: $52,730Net Income 2017: -$4,0602017Revenue 2018: $47,635Expenses 2018: $63,875Net Income 2018: -$16,2402018Revenue 2019: $42,781Expenses 2019: $58,877Net Income 2019: -$16,0962019Revenue 2020: $45,408Expenses 2020: $47,565Net Income 2020: -$2,1572020Revenue 2021: $44,775Expenses 2021: $59,573Net Income 2021: -$14,7982021Revenue 2022: $51,020Expenses 2022: $65,849Net Income 2022: -$14,8292022Revenue 2023: $59,462Expenses 2023: $69,367Net Income 2023: -$9,9052023Revenue 2024: $75,555Expenses 2024: $88,931Net Income 2024: -$13,3762024

Highlighted filing

2015

Revenue$14,848
Expenses$27,815
Net Income-$12,967
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 9, 2016
Return Version
2015v2.1
Gross Receipts
$107,419
Mission and Program Overview

Mission

The Foundation's mission

The Foundation's mission is to improve economic and social conditions for residents of Block Island. BIED has built and manages a community center that provides child care and senior activities, operates an art gallery for local residents and rents residential units to residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$543,014$512,586▼ $30,428
Cash and Non-Interest-Bearing Accounts$33,149$41,658▲ $8,509
Savings and Temporary Cash Investments$12,433$12,505▲ $72
Accounts Receivable$6,805$4,139▼ $2,666
Total Assets$595,401$570,888▼ $24,513
Liabilities
Mortgage Notes Payable Secured by Investment Property$223,134$215,164▼ $7,970
Accounts Payable and Accrued Expenses$14,858$11,281▼ $3,577
Other Liabilities$1,000$1,000→ $0
Total Liabilities$238,992$227,445▼ $11,547
Net Assets / Fund Balance
Unrestricted Net Assets$356,409$343,443▼ $12,966
Total Net Assets Fund Balance$356,409$343,443▼ $12,966
Total Liabilities and Net Assets / Fund Balance$595,401$570,888▼ $24,513

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$412,586$571,441$984,027
Land$100,000-$100,000
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Peter SaxonPresident
Monica Hull SheaVice-President
Amadeus MafosiDirector
Gail PierceDirector
Heather Russo LittlefieldDirector
Kathleen SaxonDirector
Laurel NelsonDirector
Linda SpakDirector
Rebecca BrownSecretary
Diane LambTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$12,800
Program Service Revenue
$3,165
Investment Income
$72
Other Revenue
$-1,189
All Other Contributions
$5,500
Change in Net Assets
$-12,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,554
Salaries, Compensation, and Employee Benefits$8,261
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,261$0$0$8,261
Occupancy$6,279$0$0$6,279
Advertising$4,183$0$0$4,183
Fees for Services Accounting$0$2,737$0$2,737
Other Expenses$2,202$0$0$2,202
Total Functional Expenses$25,078$2,737$0$27,815
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security deposits$1,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Block Island Economic Development Foundation Inc
EIN
05-0381201
Phone
4014870017
Address
PO Box 619, Block Island, RI 02807

Signing Officer

Name
Peter Saxon
Title
President
Phone
4014870017
Signed
2016-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Lee Taubman
Formed
1977
Legal Domicile
Ri
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
25

Preparer

Firm
Aaronson Lavoie Streitfeld Diaz & Co Pc
Address
1604 BROAD ST, CRANSTON, RI 02905-4130
Preparer
Richard Streitfeld
Phone
4012230205
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board members review the return”

Pt VI, Line 2

“Peter and Kathleen Saxon are husband and wife”

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0365
IRS990ScheduleA/InvestmentIncomeCYPct00.00410
IRS990ScheduleA/InvestmentIncomePYPct00.00380
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.99590
IRS990ScheduleA/PublicSupportPY509Pct00.99620
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt089206
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt015965
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt06400
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt06752
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0-8606
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt068695
IRS990ScheduleA/Total509Grp/TotalAmt089206
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt089571
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0412586
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0571441
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0984027
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0512586
IRS990ScheduleD/TotalLiabilityAmt01000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board members review the return
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Peter and Kathleen Saxon are husband and wife
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 2
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0595401
IRS990/TotalAssetsEOYAmt0570888
IRS990/TotalAssetsGrp/BOYAmt0595401
IRS990/TotalAssetsGrp/EOYAmt0570888
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt012800
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02737
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt025078
IRS990/TotalFunctionalExpensesGrp/TotalAmt027815
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0238992
IRS990/TotalLiabilitiesEOYAmt0227445
IRS990/TotalLiabilitiesGrp/BOYAmt0238992
IRS990/TotalLiabilitiesGrp/EOYAmt0227445
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0356409
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0343443
IRS990/TotalProgramServiceExpensesAmt025078
IRS990/TotalProgramServiceRevenueAmt03165
IRS990/TotalRevenueGrp/ExclusionAmt072
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01976
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014848
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0595401
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0570888
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0356409
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0343443
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 619
IRS990/USAddress/CityNm0Block Island
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002807
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER SAXON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04014870017
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Block Island Economic Development Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0BLOC
ReturnHeader/Filer/EIN0050381201
ReturnHeader/Filer/PhoneNum04014870017
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 619
ReturnHeader/Filer/USAddress/CityNm0Block Island
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002807
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AARONSON LAVOIE STREITFELD DIAZ & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01604 BROAD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CRANSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0029054130
ReturnHeader/PreparerPersonGrp/PhoneNum04012230205
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD STREITFELD
ReturnHeader/ReturnTs02016-11-09T12:11:02-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$570,888
Liabilities
$227,445
Net assets
$343,443
Revenue
$14,848
Expenses
$27,815
Net income
-$12,967
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$1.49$2.23$0.76$0.89$0.13
2023Detailed filing. Detailed filing data is available for this year.$3.97$1.60$2.37$0.59$0.69$0.10
2022Detailed filing. Detailed filing data is available for this year.$4.15$1.68$2.47$0.51$0.66$0.15
2021Detailed filing. Detailed filing data is available for this year.$4.41$1.79$2.62$0.45$0.60$0.15
2020Detailed filing. Detailed filing data is available for this year.$4.64$1.87$2.77$0.45$0.48$0.02
2019Detailed filing. Detailed filing data is available for this year.$4.72$1.94$2.79$0.43$0.59$0.16
2018Detailed filing. Detailed filing data is available for this year.$4.97$2.01$2.95$0.48$0.64$0.16
2017Detailed filing. Detailed filing data is available for this year.$5.24$2.13$3.11$0.49$0.53$0.04
2016Detailed filing. Detailed filing data is available for this year.$5.36$2.21$3.15$0.06$0.34$0.28
2015Detailed filing. Detailed filing data is available for this year.$5.71$2.27$3.43$0.15$0.28$0.13
2014Summary only. Only limited summary data is available for this year.$5.95$2.39$3.56$0.12$0.28$0.16