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Nonprofit · EIN 02-0385121

GRANITE STATE ECONOMIC DEVELOPMENT CORP

Tax-exempt · PORTSMOUTH, NH 03801

Financials

$9.8M$8M2022$10.3M$8M2023$11.2M$9.2M2024
Revenue Expenses · by fiscal year end
Financials of GRANITE STATE ECONOMIC DEVELOPMENT CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$11,225,736$9,191,842$2,033,894$27,804,367$4,628,376$23,175,991
September 30, 2024990$10,340,764$8,048,792$2,291,972$25,295,149$4,452,492$20,842,657
September 30, 2023990$9,828,396$8,049,295$1,779,101$22,447,674$4,090,807$18,356,867
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$9,534,275
Investment income
$1,691,461
Net gain from sales of assets
$54,741
Other revenue
$0

Expenses

Grants and similar amounts paid
$300,500
Compensation of officers, directors and key employees
$6,047,339
Other salaries and wages
$464,975
Salaries, compensation and benefits (total)
$6,956,038
Professional fundraising fees
$0
Legal fees
$358,859
Accounting fees
$47,200
Occupancy
$102,195
Depreciation
$20,772
Program services (functional)
$8,125,052
Management and general (functional)
$1,066,790

Balance sheet and other

Total assets, start of year
$25,295,149
Total assets, end of year
$27,804,367
Total liabilities, end of year
$4,628,376
Net assets, end of year
$23,175,991
Land, buildings and equipment
$829,187
Publicly traded securities
$4,986,379
Net assets without donor restrictions
$23,175,991
Gross receipts
$15,517,995
Employees
29
Year formed
1982
State of legal domicile
NH

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended September 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
STEVE ALDRICHPRESIDENT
Officer
40$481,300$95,214
FRED PALAZZOLOSENIOR VICE PRESIDENT
Officer
40$436,475$88,597
SEAN FITZGERALDVICE PRESIDENT
Officer
40$310,400$97,652
PAUL COLLINSVICE PRESIDENT
Officer
40$290,000$88,864
PAM BAILEYVICE PRESIDENT
Officer
40$250,200$60,782
ROBIN LAPOINTEVICE PRESIDENT
Officer
40$237,500$54,722
MATTHEW COLLINSVICE PRESIDENT
Officer
40$229,275$50,780
BARBARA ARENAVICE PRESIDENT
Officer
40$208,850$61,389
CARISSA MURRAYVICE PRESIDENT
Officer
40$200,500$57,753
TRACY GAYLORDVICE PRESIDENT
Officer
40$215,550$40,900
ETHAN SWAINVICE PRESIDENT
Officer
40$197,282$58,915
LISA MOUSSEAUKEY EMPLOYEE
Key employee
40$196,800$55,955
ASHLEY MCCARTHYEMPLOYEE
Highest-paid employee
40$163,500$56,129
PIERRE DURANDEMPLOYEE
Highest-paid employee
40$136,350$49,040
JACLYN ST ONGEEMPLOYEE
Highest-paid employee
40$127,400$44,684
12 more people on this return
NameTitleHours / weekCompensationOther / benefits
CATHY PICARDOEMPLOYEE
Highest-paid employee
40$127,000$40,083
ALAN ABRAHAMFORMER EMPLOYEE
Former
0$165,000$0
SCOTT GARDINERFORMER EMPLOYEE
Former
0$165,000$0
BRANDT ABRAHAMEMPLOYEE
Highest-paid employee
40$124,194$30,381
BIRGIT CHRISTIANSENDIRECTOR
Trustee or director
1.5$0$0
NANCY CARMERDIRECTOR
Trustee or director
1.5$0$0
DAVID GOMPERSDIRECTOR
Trustee or director
1.5$0$0
PAUL BERGERONDIRECTOR
Trustee or director
1.5$0$0
JEFF ANGERSDIRECTOR
Trustee or director
1.5$0$0
WILLIAM POWERSDIRECTOR
Trustee or director
1.5$0$0
MARY DRISCOLLDIRECTOR
Trustee or director
1.5$0$0
CAROLYN CLOUTIERDIRECTOR
Trustee or director
1.5$0$0
990 for the year ended September 30, 2024: 27 people
NameTitleHours / weekCompensationOther / benefits
STEVE ALDRICHPRESIDENT
Officer
40$422,250$145,262
FRED PALAZZOLOSENIOR VICE PRESIDENT
Officer
40$387,025$138,645
SEAN FITZGERALDVICE PRESIDENT
Officer
40$300,400$97,700
SCOTT GARDINERFORMER EMPLOYEE
Former
0$359,132$26,119
PAUL COLLINSVICE PRESIDENT
Officer
40$280,225$61,250
MATTHEW COLLINSVICE PRESIDENT
Officer
40$235,400$50,780
PAM BAILEYVICE PRESIDENT
Officer
40$225,200$60,830
BARBARA ARENAVICE PRESIDENT
Officer
40$208,100$61,437
ROBIN LAPOINTEVICE PRESIDENT
Officer
40$209,300$54,410
ETHAN SWAINVICE PRESIDENT
Officer
40$190,200$58,963
CARISSA MURRAYVICE PRESIDENT
Officer
40$175,083$57,801
TRACY GAYLORDVICE PRESIDENT
Officer
40$190,200$40,900
LISA MOUSSEAUKEY EMPLOYEE
Key employee
40$158,600$56,003
ASHLEY MCCARTHYEMPLOYEE
Highest-paid employee
40$147,508$56,177
PIERRE DURANDEMPLOYEE
Highest-paid employee
40$126,850$49,088
ALAN ABRAHAMFORMER EMPLOYEE
Former
0$165,000$0
CATHY PICARDOEMPLOYEE
Highest-paid employee
40$122,800$40,083
JACLYN ST ONGEEMPLOYEE
Highest-paid employee
40$107,517$44,732
BRANDT ABRAHAMEMPLOYEE
Highest-paid employee
40$100,900$30,429
DAVID GOMPERSDIRECTOR
Trustee or director
1.5$0$0
PAUL BERGERONDIRECTOR
Trustee or director
1.5$0$0
BIRGIT CHRISTIANSENDIRECTOR
Trustee or director
1.5$0$0
NANCY CARMERDIRECTOR
Trustee or director
1.5$0$0
MARY DRISCOLLDIRECTOR
Trustee or director
1.5$0$0
CAROLYN CLOUTIERDIRECTOR
Trustee or director
1.5$0$0
JEFF ANGERSDIRECTOR
Trustee or director
1.5$0$0
WILLIAM POWERSDIRECTOR
Trustee or director
1.5$0$0
990 for the year ended September 30, 2023: 26 people
NameTitleHours / weekCompensationOther / benefits
SCOTT GARDINERFORMER EMPLOYEE
Former
0$391,180$87,104
STEVE ALDRICHPRESIDENT
Officer
40$374,803$89,497
FRED PALAZZOLOSENIOR VICE PRESIDENT
Officer
40$324,918$93,966
SEAN FITZGERALDVICE PRESIDENT
Officer
40$305,600$91,710
PAUL COLLINSVICE PRESIDENT
Officer
40$314,044$82,804
MATTHEW COLLINSVICE PRESIDENT
Officer
40$253,900$46,080
ALAN ABRAHAMFORMER EMPLOYEE
Former
0$289,833$0
BARBARA ARENAVICE PRESIDENT
Officer
40$209,001$58,632
ETHAN SWAINVICE PRESIDENT
Officer
40$200,500$62,218
PAM BAILEYVICE PRESIDENT
Officer
40$200,000$55,138
TRACY GAYLORDVICE PRESIDENT
Officer
40$204,500$45,633
CARISSA MURRAYVICE PRESIDENT
Officer
40$158,917$59,172
ROBIN LAPOINTEVICE PRESIDENT
Officer
40$164,167$45,774
LISA MOUSSEAUKEY EMPLOYEE
Key employee
40$146,958$51,998
ASHLEY MCCARTHYEMPLOYEE
Highest-paid employee
40$130,000$50,915
PIERRE DURANDEMPLOYEE
Highest-paid employee
40$120,940$57,605
CATHY PICARDOEMPLOYEE
Highest-paid employee
40$119,667$38,462
BRANDT ABRAHAMEMPLOYEE
Highest-paid employee
40$115,500$22,140
CAROLYN CLOUTIERDIRECTOR
Trustee or director
1.5$0$0
DAVID GOMPERSDIRECTOR
Trustee or director
1.5$0$0
NANCY CARMERDIRECTOR
Trustee or director
1.5$0$0
BIRGIT CHRISTIANSENDIRECTOR
Trustee or director
1.5$0$0
PAUL BERGERONDIRECTOR
Trustee or director
1.5$0$0
MARY DRISCOLLDIRECTOR
Trustee or director
1.5$0$0
WILLIAM POWERSDIRECTOR
Trustee or director
1.5$0$0
JEFF ANGERSDIRECTOR
Trustee or director
1.5$0$0

Address and contacts

Address (IRS master file)
ONE CATE ST 3RD FLOOR, PORTSMOUTH, NH 03801-7108
In care of
% STEVE ALDRICH
Signed the 990
STEVE ALDRICH, PRESIDENT
Phone
(603) 436-0009
Return prepared by
Cindy Courtney CPA CFP PLLC

Mission

TO CREATE ECONOMIC DEVELOPMENT BY ASSISTING BUSINESSES TO ACQUIRE SBA 504 FINANCING TO EXPAND THEIR BUSINESSES BY ACQUIRING, RENOVATING OR CONSTRUCTING REAL ESTATE AND/OR ACQUIRING MACHINERY & EQUIPMENT. THE EXPANDED BUSINESSES LEAD TO THE CREATION AND/OR RETENTION OF JOBS.

990 for the year ended September 30, 2025

Program accomplishments

  • TO CREATE ECONOMIC DEVELOPMENT BY ASSISTING BUSINESSES TO ACQUIRE SBA 504 FINANCING TO EXPAND THEIR BUSINESSES BY ACQUIRING, RENOVATING OR CONSTRUCTING REAL ESTATE AND/OR ACQUIRING MACHINERY & EQUIPMENT. THE EXPANDED BUSINESSES LEAD TO THE CREATION AND/OR RETENTION OF JOBS WITHIN THE STATES OF OPERATIONS, INCLUDING MAINE, NEW HAMPSHIRE, VERMONT AND MASSACHUSETTS.
    Expenses $8,125,052 · grants $300,500

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 15, 2027Not due yet
2024September 30, 2025February 16, 2026990 on file
2023September 30, 2024February 17, 2025990 on file

IRS record

EIN
02-0385121
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
1989
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$27,804,367
Income (IRS master file)
$15,517,995

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$11,225,736$9,191,842$27,804,367XML
990September 2024$10,340,764$8,048,792$25,295,149XML
990September 2023$9,828,396$8,049,295$22,447,674XML
990September 2022$9,324,758$8,300,783$20,832,618IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––IRS
990September 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 02-0385121).

Questions about GRANITE STATE ECONOMIC DEVELOPMENT CORP

What is the EIN of GRANITE STATE ECONOMIC DEVELOPMENT CORP?
The employer identification number (EIN) of GRANITE STATE ECONOMIC DEVELOPMENT CORP is 02-0385121.
Is GRANITE STATE ECONOMIC DEVELOPMENT CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1989.
Are donations to GRANITE STATE ECONOMIC DEVELOPMENT CORP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does GRANITE STATE ECONOMIC DEVELOPMENT CORP file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of GRANITE STATE ECONOMIC DEVELOPMENT CORP due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GRANITE STATE ECONOMIC DEVELOPMENT CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who are the officers and directors of GRANITE STATE ECONOMIC DEVELOPMENT CORP?
The 990 for the year ended September 30, 2025 lists 27 people; 19 received compensation from the organization, the highest $481,300 (STEVE ALDRICH, PRESIDENT).
How much revenue does GRANITE STATE ECONOMIC DEVELOPMENT CORP have?
On its 990 for the year ended September 30, 2025 it reported revenue of $11,225,736, expenses of $9,191,842 and total assets of $27,804,367 at year end.

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