Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1983.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $605K paid to officers and key staff.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Russell a Gaston | $423,925 | $385,525 | — | — | — | — |
| Russell Gaston | — | — | $366,025 | $335,788 | $326,276 | $280,613 |
| James Tierney | $175,076 | $161,834 | — | — | — | — |
| Amber Perry | — | $148,395 | — | — | — | — |
| Russell W Hahn | $400 | $400 | $400 | $800 | $600 | $800 |
| Sean McIntyre | $600 | $400 | $800 | $600 | $600 | $600 |
| John Pimental | $200 | $600 | $800 | $200 | — | — |
| Kevin Casey | $600 | $800 | $600 | $800 | $800 | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Provides capital and services to small businesses for equipment and real estate to fuel growth.
Questions for Ocean State Business Development Authority INC
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Making section 504 sba loans to businesses in accordance with the rules and regulations promulgated by the us small business administration.
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $39K | $3K |
| Land, buildings, equipmentLn 10c | $37K | $19K |
| Total assetsLn 16 | $724K | $617K |
| LiabilitiesLn 26 | $379K | $276K |
| Net assetsLn 32 | $345K | $341K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $609K | $609K | ||
| Other salaries and wagesLn 7 | $304K | $304K | ||
| Pension plan contributionsLn 8 | $45K | $45K | ||
| Other employee benefitsLn 9 | $95K | $95K | ||
| Payroll taxesLn 10 | $74K | $74K | ||
| Accounting feesLn 11c | $20K | $20K | ||
| Other fees for servicesLn 11g | $16K | $16K | ||
| Advertising and promotionLn 12 | $18K | $18K | ||
| Office expensesLn 13 | $50K | $50K | ||
| Information technologyLn 14 | $53K | $53K | ||
| OccupancyLn 16 | $56K | $56K | ||
| TravelLn 17 | $18K | $18K | ||
| InterestLn 20 | $26K | $26K | ||
| Depreciation, depletion and amortizationLn 22 | $18K | $18K | ||
| InsuranceLn 23 | $23K | $23K | ||
| Other expenses (24a–d)Ln 24 | $62K | $62K | ||
| Total functional expensesLn 25 | $1.5M | $1.5M | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $1.5M | $1.5M | −$4K | $341K | 990 PDF |
| FY2024 | $1.4M | $1.4M | $15K | $345K | 990 PDF |
| FY2023 | $1.3M | $1.3M | $23K | $370K | 990 PDF |
| FY2022 | $1.2M | $1.1M | $102K | $347K | 990 PDF |
| FY2021 | $1.1M | $993K | $112K | $245K | 990 PDF |
| FY2020 | $983K | $942K | $41K | $158K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,480,658 revenue, 12 lines filed
Part VI · Governance 10 of 11 board members independent, 1 to look at
Part VIII · Statement of revenue $1,480,658 across 2 lines filed
Part IX · Statement of functional expenses $1,484,857 across 16 lines filed
Part X · Balance sheet $616,957 assets, 12 lines filed
Part XI · Reconciliation of net assets $340,627 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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