2025-03-07T14:00:00-05:00 2024-09-30 264156406 WADOVICK & COMPANY 1300 DIVISION RD STE 104 WEST WARWICK RI 02893 990 2023-10-01 050389516 OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC OCEA 4012911504 300 JEFFERSON BLVD WARWICK RI 02888 RUSSELL A GASTON PRESIDENT 4012911504 2025-03-07 true JEFFREY D WADOVICK CPA P01204328 4018234004 2025-03-07 X 2023 2025-03-06 01:10:19Z RUSSELL A GASTON 300 JEFFERSON BLVD WARWICK RI 02888 1429567 false X WWW.OSBDA.COM X 1980 RI 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. 11 10 4 0 0 1348315 1429567 0 0 1348315 1429567 0 0 893858 1047967 0 0 431128 366464 1324986 1414431 23329 15136 614935 724236 244820 379410 370115 344826 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. false false 1180330 1429567 MAKING SECTION 504 SBA LOANS TO BUSINESSES IN ACCORDANCE WITH THE RULES AND REGULATIONS PROMULGATED BY THE US SMALL BUSINESS ADMINISTRATION. 1180330 false false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false true false false false false false false false false false false false false false 8 0 true 4 true false false false false false false false false X 11 10 false false false false false false false true true false false false true true false true false true false false X RUSSELL A GASTON 4012911504 300 JEFFERSON BLVD WARWICK RI 02888 RUSSELL A GASTON PRESIDENT 40.00 X X 385525 0 28941 JAMES TIERNEY VP COMMERCIA 40.00 X 161834 0 8320 AMBER PERRY AVP PORTFOLI 40.00 X 148395 0 0 HASAN ALI DIRECTOR 1.00 X 800 0 0 KEVIN CASEY DIRECTOR 1.00 X 800 0 0 SHARYN HARRINGTON DIRECTOR 1.00 X 800 0 0 ROBERT E NICKERSON DIRECTOR 1.00 X 800 0 0 CRISTINA FEDEN DIRECTOR 1.00 X 600 0 0 MICHAEL LEVINSON DIRECTOR 1.00 X 600 0 0 ERIC LICHATIN DIRECTOR 1.00 X 600 0 0 JOHN PIMENTAL DIRECTOR 1.00 X 600 0 0 RUSSELL W HAHN CHAIRMAN 2.00 X 400 0 0 SEAN MCINTYRE DIRECTOR 1.00 X 400 0 0 702154 37261 3 false true false SERVICE FEES 900004 794196 794196 PROCESSING FEES 900004 541466 541466 ESCROW FLOAT INTEREST 900004 93905 93905 1429567 1429567 1429567 603091 603091 258723 258723 42701 42701 94755 94755 48697 48697 22300 22300 8260 8260 15234 15234 47145 32617 14528 55137 55137 56196 56196 14471 14471 22699 22699 20355 20355 19971 19971 MEALS AND ENTERTAINMENT 35434 35434 BAD DEBTS/CANCELLATIONS 29442 29442 CREDIT/FLOOD REPORTS 10039 10039 DUES AND SUBSCRIPTIONS 7580 7580 2201 2201 1414431 1180330 234101 0 28310 38349 163 163 446672 565672 82985 130995 93563 56505 37432 300 82620 614935 724236 3114 2882 50000 165706 142338 76000 184190 244820 379410 X 370115 344826 370115 344826 614935 724236 X 15136 -40040 -385 X false true X true false 130995 93563 37432 37432 ROU ASSET, NET 82320 DEPOSIT 300 82620 CUSTOMER DEPOSITS 100000 OPERATING LEASE LIABILITY 84190 184190 X 1429567 1429567 1429567 1414816 385 385 1414431 1414431 SCHEDULE D, PAGE 3, PART X THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL. MANAGEMENT BELIEVES THAT THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH ITS TAXEXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVEL. THE ORGANIZATION EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY GAAP. AS OF SEPTEMBER 30, 2024 AND 2023, THE ORGANIZATION DOES NOT BELIEVE THAT IT HAS TAKEN ANY TAX POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY NOR DOES IT BELIEVE THAT THERE ARE ANY REALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT TWELVE MONTHS. THE ORGANIZATION ANNUALLY FILES IRS FORM 990, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE ORGANIZATION CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. SCHEDULE D, PAGE 4, PART XII, LINE 2D ROU ASSET 385 false false false false false false false false false RUSSELL A GASTON PRESIDENT 197425 187300 800 13641 15300 414466 JAMES TIERNEY VP COMMERCIAL LENDIN 129394 32440 7120 1200 170154 NOTE PAYABLE - OFFICER RUSSELL GASTON-CEO CASH FLOW/LIQUIDITY X 50000 50000 false true false 50000 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 FORM 990, PART XI, LINE 9 BOOK TO TAX - ROU ASSET LEASE EXP -385