2025-11-12T09:11:24-06:00 2024-12-31 050495839 ALSD LTD 1604 Broad Street Cranston RI 02905 990 2024-01-01 050381201 Block Island Economic Development Foundation Inc BLOC 4014870017 PO Box 619 Block Island RI 02807 Gerard Pierce President 4014870017 2025-11-12 1 0 Richard Streitfeld P00290819 4012230205 2024 2025-03-06 01:10:19Z Gerard Pierce Box 619 Block Island Rhode Island RI 02807 151288 0 X N/A X 1977 RI 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 childcare and senior activities, operates an art gallery for local residents and rents residential units to residents. 9 9 0 0 0 0 13200 18196 2802 6614 578 520 42882 50225 59462 75555 0 0 0 0 11472 13299 0 0 0 57895 75632 69367 88931 -9905 -13376 396600 372536 159774 149084 236826 223452 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 childcare and senior activities, operates an art gallery for local residents and rents residential units to residents. 0 0 74261 32572 Spring Street Gallery is a cooperative of Block Island artists who learn from each other, develop their work, provide art related programs and sell their work at a small summer Gallery on the island. The Community Center provides programs to BI residents. 74261 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X Gerard Pierce 4014870017 PO Box 619 Block Island RI 02807 X Gerald Pierce President 3.00 X X 0 0 0 Rebecca Brown Secretary/Treasurer 2.00 X X 0 0 0 Roberta McCormick Director 1.00 X 0 0 0 Linda Spak Director 1.00 X 0 0 0 Gail Pierce Director 1.00 X 0 0 0 Jennifer Taubman Director 1.00 X 0 0 0 Monica Hull-Shea Vice President 2.00 X X 0 0 0 Amadeus Mafosi Director 1.00 X 0 0 0 0 0 0 0 0 0 0 0 18196 18196 Other Comm Service Rev 711130 6614 6614 6614 520 520 51810 34157 17653 17653 17653 74148 41576 32572 32572 75555 56839 0 520 13299 11969 1330 2558 2558 1200 1200 1449 1449 2767 2490 277 51570 46413 5157 2821 2821 8366 7529 837 Gallery Internet and Ro 2012 1811 201 Grant Exp Gallery 1980 1782 198 Other Operating Comm Ct 909 818 91 88931 74261 14670 0 132697 142831 13977 14476 11692 11149 1091225 887145 238234 204080 396600 372536 10340 9188 145334 135796 4100 4100 159774 149084 X 236826 223452 236826 223452 396600 372536 -13376 0 X 0 0 0 X 11750 12950 15048 13200 18196 71144 33546 31817 43175 45684 56839 211061 45296 44767 58223 58884 75035 282205 0 0 0 282205 112 8 578 520 1218 112 8 578 520 1218 45408 44775 58223 59462 75555 283423 0.99570 0.99620 0.00430 0.00380 X 100000 100000 873176 774087 99089 118049 113058 4991 204080 Security deposit 2100 PPP Loan Payable 2000 4100 X Part X, Line 2: The organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the agency and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for years ending June 30, 2022 and 2023 Form 990, Part VI, Section B, line 11b 990 is reviewed by board members prior to filing Form 990, Part VI, Section C, line 19 The organization's 990 is made public through Guidestar's website. The organization believes the 990 provides sufficient information to the publlc.