Civic Intelligence

Ocean State Business Development Authority Inc

990 • Fiscal year 2025 • EIN 05-0389516

Oct 01, 2024 to Sep 30, 2025 • Filed on Jan 09, 2026

Organization ProfileWWW.OSBDA.COM
300 Jefferson Boulevard Suite 105Warwick, RI 02818

(401) 291-1504

Siviq Scores

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

Liabilities / Assets

87th percentile

0.45x

Higher debt load relative to assets than 87% of similar nonprofits.

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

Liabilities / Revenue

64th percentile

0.19x

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

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

Net Margin

28th percentile

-0.3%

Higher net margin than 28% of similar nonprofits.

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

Top Officer Pay

99th percentile

$449,725

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 30.4% of source-year revenue.

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

Asset Growth

5th percentile

-15%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

39th percentile

3.6%

Faster revenue growth than 39% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$616,957

Down $107,279 (-15%) from 2024

Net Assets

Down

$340,627

Down $4,199 (-1.2%) from 2024

Liabilities

Down

$276,330

Down $103,080 (-27%) from 2024

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin28th percentile

Revenue

Up

$1,480,658

Up $51,091 (+3.6%) from 2024

Expenses

Up

$1,484,857

Up $70,426 (+5.0%) from 2024

Net Income

Down

-$4,199

Down $19,335 (-128%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2025

Assets$616,957
Liabilities$276,330
Net Assets$340,627
Open 2025 Filing

Operations Trend

Revenue Growth39th 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

2025

Revenue$1,480,658
Expenses$1,484,857
Net Income-$4,199
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Jan 9, 2026
Return Version
2024v5.0
Gross Receipts
$1,480,658
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 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 ehtier businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$565,672$558,367▼ $7,305
Land, Buildings, and Equipment, Net$37,432$19,181▼ $18,251
Loans From Officers Directors$50,000$16,086▼ $33,914
Cash and Non-Interest-Bearing Accounts$38,349$2,853▼ $35,496
Savings and Temporary Cash Investments$163$163→ $0
Total Assets$724,236$616,957▼ $107,279
Other Assets Total$82,620$36,393▼ $46,227
Liabilities
Other Liabilities$184,190$139,248▼ $44,942
Mortgage Notes Payable Secured by Investment Property$142,338$119,223▼ $23,115
Accounts Payable and Accrued Expenses$2,882$1,773▼ $1,109
Total Liabilities$379,410$276,330▼ $103,080
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$344,826$340,627▼ $4,199
Total Net Assets Fund Balance$344,826$340,627▼ $4,199
Total Liabilities and Net Assets / Fund Balance$724,236$616,957▼ $107,279

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,181$111,814$130,995
Other Assets Org$300--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Russell a GastonPresidentFT$423,925$55,503$449,725
James TierneyVP CommerciaFT$175,076$30,903$205,979
James TierneyVP Commercial Lendin-$175,076$1,200$205,979
Eric LichatinDirector-$800-$800
Michael LevinsonDirector-$800-$800
Sharyn HarringtonDirector-$800-$800
Cristina FedenDirector-$600-$600
Kevin CaseyDirector-$600-$600
Robert E NickersonDirector-$600-$600
Sean McintyreDirector-$600-$600
Russell W HahnChairman-$400-$400
Hasan AliDirector-$400-$400
John PimentalDirector-$200-$200
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,480,658
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-4,199

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,480,658
Total Revenue per Audited Statements
$1,480,658
Total Revenue per Form 990
$1,480,658
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,126,985
Other Expenses$357,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$609,064--$609,064
Other Salaries and Wages$303,855--$303,855
Other Employee Benefits$94,676--$94,676
Payroll Taxes$74,122--$74,122
Occupancy$55,844--$55,844
Information Technology$52,888--$52,888
Office Expenses$49,865--$49,865
Pension Plan Contributions$45,268--$45,268
Interest$25,519--$25,519
Insurance$22,889--$22,889
Fees for Services Accounting$19,600--$19,600
Depreciation Depletion$18,251--$18,251
Travel$18,188--$18,188
Advertising$17,790--$17,790
Fees for Services Other$15,529--$15,529
Other Expenses$2,276--$2,276
Total Functional Expenses$1,484,857$0$0$1,484,857

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,484,857
Total Expenses per Audited Statements$1,484,857
Total Expenses per Form 990$1,484,857
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$50,000$16,086▼ $33,914
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Deposits$102,000
Operating Lease Liability$37,248
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 15A

“Compensation approved by board during budgeting process annually.”

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
EIN
05-0389516
Phone
4012911504
Address
300 JEFFERSON BOULEVARD SUITE 105, WARWICK, RI 02818

Signing Officer

Name
Russell a Gaston
Title
President
Phone
4012911504
Signed
2026-01-09

Organization Details

Principal Officer
Russell a Gaston
Formed
1980
Legal Domicile
Ri
Voting Board Members
11
Independent Board Members
10
Employees
4

Preparer

Firm
Wadovick & Company
Address
1300 DIVISION RD STE 104, WEST WARWICK, RI 02893
Preparer
Jeffrey D Wadovick CPA
Phone
4018234004
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rou asset 0 book to tax - rou asset lease exp 0”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“ROU ASSET 0”

Raw XML AppendixShowing 400 of 415 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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IRS990/OtherExpensesGrp/TotalAmt32276
IRS990/OtherLiabilitiesGrp/BOYAmt0184190
IRS990/OtherLiabilitiesGrp/EOYAmt0139248
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0303855
IRS990/OtherSalariesAndWagesGrp/TotalAmt0303855
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IRS990/PayrollTaxesGrp/ProgramServicesAmt074122
IRS990/PayrollTaxesGrp/TotalAmt074122
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IRS990/PensionPlanContributionsGrp/TotalAmt045268
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IRS990/ProgramServiceRevenueGrp/Desc1PROCESSING FEES
IRS990/ProgramServiceRevenueGrp/Desc2ESCROW FLOAT INTEREST
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1419575
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYRevenuesLessExpensesAmt015136
IRS990/PYSalariesCompEmpBnftPaidAmt01047967
IRS990/PYTotalExpensesAmt01414431
IRS990/PYTotalRevenueAmt01429567
IRS990/ReconcilationRevenueExpnssAmt0-4199
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0163
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0163
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt019181
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0111814
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0130995
IRS990ScheduleD/ExpensesSubtotalAmt01484857
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt036093
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1300
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ROU ASSET, NET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0102000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt137248
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt01480658
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ROU ASSET 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt036393
IRS990ScheduleD/TotalExpensesPerForm990Amt01484857
IRS990ScheduleD/TotalLiabilityAmt0139248
IRS990ScheduleD/TotalRevenuePerForm990Amt01480658
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01480658
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01484857
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0423925
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1175076
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt029703
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VP COMMERCIAL LENDIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0449725
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1205979
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt016086
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW/LIQUIDITY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt050000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0NOTE PAYABLE - OFFICER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0RUSSELL GASTON-CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/TotalBalanceDueAmt016086
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION APPROVED BY BOARD DURING BUDGETING PROCESS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ROU ASSET 0 BOOK TO TAX - ROU ASSET LEASE EXP 0
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0616957
IRS990/TotalAssetsGrp/BOYAmt0724236
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01484857
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0276330
IRS990/TotalLiabilitiesGrp/BOYAmt0379410
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0340627
IRS990/TotalOtherCompensationAmt056703
IRS990/TotalProgramServiceExpensesAmt01484857
IRS990/TotalProgramServiceRevenueAmt01480658
IRS990/TotalReportableCompFromOrgAmt0604801
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01480658
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01480658
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0724236
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0616957
IRS990/TravelGrp/ProgramServicesAmt018188
IRS990/TravelGrp/TotalAmt018188
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0300 JEFFERSON BLVD
IRS990/USAddress/CityNm0WARWICK
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002888
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.OSBDA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RUSSELL A GASTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04012911504
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-01-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OCEAN STATE BUSINESS DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0AUTHORITY INC
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0050389516
ReturnHeader/Filer/PhoneNum04012911504
ReturnHeader/Filer/USAddress/AddressLine1Txt0300 JEFFERSON BOULEVARD SUITE 105
ReturnHeader/Filer/USAddress/CityNm0WARWICK
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$616,957
Liabilities
$276,330
Net assets
$340,627
Revenue
$1,480,658
Expenses
$1,484,857
Net income
-$4,199
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2025 filings • 501(c)4 • $1M-$5M nonprofits