Civic Intelligence

Ocean State Business Development Authority Inc

990 • Fiscal year 2023 • EIN 05-0389516

Oct 01, 2022 to Sep 30, 2023 • Filed on Dec 22, 2023

Organization ProfileWWW.OSBDA.COM

View Organization Page

300 Jefferson BlvdWarwick, RI 02888

(401) 291-1361

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.40x

Higher debt load relative to assets than 83% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

61st percentile

0.18x

Higher debt load relative to revenue than 61% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

36th percentile

1.7%

Higher net margin than 36% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

97th percentile

$420,161

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 31.2% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

79th percentile

18%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

54th percentile

8.4%

Faster revenue growth than 54% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$614,935

Up $93,797 (+18%) from 2022

Net Assets

Up

$370,115

Up $23,329 (+6.7%) from 2022

Liabilities

Up

$244,820

Up $70,468 (+40%) from 2022

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin36th percentile

Revenue

Up

$1,348,315

Up $104,448 (+8.4%) from 2022

Expenses

Up

$1,324,986

Up $183,036 (+16%) from 2022

Net Income

Down

$23,329

Down $78,588 (-77%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$800K$600K$400K$200K$0Assets 2011: $155,296Liabilities 2011: $81,366Net Assets 2011: $73,9302011Assets 2012: $231,089Liabilities 2012: $78,963Net Assets 2012: $152,1262012Assets 2013: $201,585Liabilities 2013: $54,015Net Assets 2013: $147,5702013Assets 2014: $101,394Liabilities 2014: $39,515Net Assets 2014: $61,8792014Assets 2015: $46,814Liabilities 2015: $38,187Net Assets 2015: $8,6272015Assets 2016: $204,526Liabilities 2016: $107,488Net Assets 2016: $97,0382016Assets 2017: $334,142Liabilities 2017: $332,306Net Assets 2017: $1,8362017Assets 2018: $385,586Liabilities 2018: $335,327Net Assets 2018: $50,2592018Assets 2019: $375,656Liabilities 2019: $258,761Net Assets 2019: $116,8952019Assets 2020: $376,360Liabilities 2020: $218,478Net Assets 2020: $157,8822020Assets 2021: $504,852Liabilities 2021: $259,426Net Assets 2021: $245,4262021Assets 2022: $521,138Liabilities 2022: $174,352Net Assets 2022: $346,7862022Assets 2023: $614,935Liabilities 2023: $244,820Net Assets 2023: $370,1152023Assets 2024: $724,236Liabilities 2024: $379,410Net Assets 2024: $344,8262024Assets 2025: $616,957Liabilities 2025: $276,330Net Assets 2025: $340,6272025

Highlighted filing

2023

Assets$614,935
Liabilities$244,820
Net Assets$370,115
Open 2023 Filing

Operations Trend

Revenue Growth54th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $629,099Expenses 2011: $672,384Net Income 2011: -$43,2852011Expenses 2012: $632,0122012Revenue 2013: $665,089Expenses 2013: $669,645Net Income 2013: -$4,5562013Revenue 2014: $644,614Expenses 2014: $730,305Net Income 2014: -$85,6912014Revenue 2015: $576,948Expenses 2015: $630,200Net Income 2015: -$53,2522015Revenue 2016: $754,272Expenses 2016: $665,861Net Income 2016: $88,4112016Revenue 2017: $798,639Expenses 2017: $849,528Net Income 2017: -$50,8892017Revenue 2018: $889,580Expenses 2018: $841,157Net Income 2018: $48,4232018Revenue 2019: $939,776Expenses 2019: $873,140Net Income 2019: $66,6362019Revenue 2020: $982,598Expenses 2020: $941,612Net Income 2020: $40,9862020Revenue 2021: $1,104,933Expenses 2021: $993,024Net Income 2021: $111,9092021Revenue 2022: $1,243,867Expenses 2022: $1,141,950Net Income 2022: $101,9172022Revenue 2023: $1,348,315Expenses 2023: $1,324,986Net Income 2023: $23,3292023Revenue 2024: $1,429,567Expenses 2024: $1,414,431Net Income 2024: $15,1362024Revenue 2025: $1,480,658Expenses 2025: $1,484,857Net Income 2025: -$4,1992025

Highlighted filing

2023

Revenue$1,348,315
Expenses$1,324,986
Net Income$23,329
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Dec 22, 2023
Return Version
2022v5.0
Gross Receipts
$1,348,315
Mission and Program Overview

Mission

To efficiently provide unique capital and services to small businesses located in ri, ma and ct; helping them acquire equipment and commercial real estate to grow their businesses.

To efficently provide unique capital and services to small businesses located in ri, ma and ct; helping them acquire equipment and commercial real estate to grow their businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$387,740$446,672▲ $58,932
Prepaid Expenses and Deferred Charges$49,013$82,985▲ $33,972
Land, Buildings, and Equipment, Net$73,113$56,505▼ $16,608
Cash and Non-Interest-Bearing Accounts$10,809$28,310▲ $17,501
Savings and Temporary Cash Investments$163$163→ $0
Total Assets$521,138$614,935▲ $93,797
Other Assets Total$300$300→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$74,061$165,706▲ $91,645
Other Liabilities$97,705$76,000▼ $21,705
Accounts Payable and Accrued Expenses$2,586$3,114▲ $528
Total Liabilities$174,352$244,820▲ $70,468
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$346,786$370,115▲ $23,329
Total Net Assets Fund Balance$346,786$370,115▲ $23,329
Total Liabilities and Net Assets / Fund Balance$521,138$614,935▲ $93,797

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$56,505$73,206$129,711
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sean McintyrePresidentFT$366,025$54,136$420,161
-President-$196,625$223,536$420,161
John PimentalDirector-$800-$800
Kevin CaseyDirector-$800-$800
Ali HasanDirector-$600-$600
Cristina FedenDirector-$600-$600
Robert E NickersonDirector-$600-$600
Russell W HahnDirector-$600-$600
Sharyn HarringtonDirector-$600-$600
Charles C NewtonChairman-$400-$400

Board Members and Trustees

NameTitle
-Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,348,315
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$23,329

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,348,315
Total Revenue per Audited Statements
$1,348,315
Total Revenue per Form 990
$1,348,315
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$893,858
Other Expenses$431,128
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$751,613--$751,613
Other Employee Benefits$68,247--$68,247
Occupancy-$56,203-$56,203
Information Technology$46,331--$46,331
Payroll Taxes$43,838--$43,838
Pension Plan Contributions$30,160--$30,160
Fees for Services Other$22,391--$22,391
Depreciation Depletion$21,524--$21,524
Advertising$20,878--$20,878
Fees for Services Accounting$19,575--$19,575
Office Expenses$19,257--$19,257
Interest$14,848--$14,848
Insurance$14,517--$14,517
Travel$13,539--$13,539
Other Expenses$11,421--$11,421
All Other Expenses$6,923--$6,923
Fees for Services Management$5,800--$5,800
Total Functional Expenses$1,268,783$56,203$0$1,324,986

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,324,986
Total Expenses per Audited Statements$1,324,986
Total Expenses per Form 990$1,324,986
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Deposits$76,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Ocean State Business Development Au
EIN
05-0389516
Address
300 JEFFERSON BLVD, WARWICK, RI 02888

Signing Officer

Name
Russell Gaston
Title
President
Phone
4012911361
Signed
2023-12-22
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Ri
Voting Board Members
10
Independent Board Members
9
Employees
5

Preparer

Firm
Murray & Company
Address
205 AIRPORT RD, WARWICK, RI 02889-1029
Preparer
Robert R Recchia CPA
Phone
4017384422
Raw XML Appendix360 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt076000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01348315
IRS990ScheduleD/TotalBookValueLandBuildingsAmt056505
IRS990ScheduleD/TotalExpensesPerForm990Amt01324986
IRS990ScheduleD/TotalLiabilityAmt076000
IRS990ScheduleD/TotalRevenuePerForm990Amt01348315
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01348315
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01324986
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0196625
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount0168600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt0RUSSELL GASTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt054136
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt0800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0420161
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0521138
IRS990/TotalAssetsEOYAmt0614935
IRS990/TotalAssetsGrp/BOYAmt0521138
IRS990/TotalAssetsGrp/EOYAmt0614935
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt056203
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01268783
IRS990/TotalFunctionalExpensesGrp/TotalAmt01324986
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0174352
IRS990/TotalLiabilitiesEOYAmt0244820
IRS990/TotalLiabilitiesGrp/BOYAmt0174352
IRS990/TotalLiabilitiesGrp/EOYAmt0244820
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0346786
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0370115
IRS990/TotalOtherCompensationAmt054136
IRS990/TotalProgramServiceExpensesAmt01268783
IRS990/TotalProgramServiceRevenueAmt01348315
IRS990/TotalReportableCompFromOrgAmt0371025
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01348315
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01348315
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0521138
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0614935
IRS990/TravelGrp/ProgramServicesAmt013539
IRS990/TravelGrp/TotalAmt013539
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0300 JEFFERSON BLVD
IRS990/USAddress/CityNm0WARWICK
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002888
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.OSBDA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RUSSELL GASTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04012911361
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OCEAN STATE BUSINESS DEVELOPMENT AU
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0050389516
ReturnHeader/Filer/USAddress/AddressLine1Txt0300 JEFFERSON BLVD
ReturnHeader/Filer/USAddress/CityNm0WARWICK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002888
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0050475425
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MURRAY & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0205 AIRPORT RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WARWICK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0028891029
ReturnHeader/PreparerPersonGrp/PhoneNum04017384422
ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT R RECCHIA CPA
ReturnHeader/ReturnTs02024-01-17T09:08:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RUSSELL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GASTON
ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$614,935
Liabilities
$244,820
Net assets
$370,115
Revenue
$1,348,315
Expenses
$1,324,986
Net income
$23,329
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.62$0.28$0.34$1.48$1.48$0.00
2024Detailed filing. Detailed filing data is available for this year.$0.72$0.38$0.34$1.43$1.41$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.61$0.24$0.37$1.35$1.32$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.52$0.17$0.35$1.24$1.14$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.50$0.26$0.25$1.10$0.99$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.38$0.22$0.16$0.98$0.94$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.38$0.26$0.12$0.94$0.87$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.39$0.34$0.05$0.89$0.84$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.33$0.33$0.00$0.80$0.85$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.11$0.10$0.75$0.67$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.04$0.01$0.58$0.63$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.10$0.04$0.06$0.64$0.73$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.05$0.15$0.67$0.67$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.08$0.15$0.63
2011Summary only. Only limited summary data is available for this year.$0.16$0.08$0.07$0.63$0.67$0.04