Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 05-0319515

ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC

Tax-exempt · CUMBERLAND, RI 02864

Financials

$298K$543K2023$332K$409K2024
Revenue Expenses · by fiscal year end
Financials of ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$332,003$409,193-$77,190$4,313,657$42,236$4,271,421
June 30, 2024990$297,884$542,758-$244,874$4,476,347$127,736$4,348,611
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$27,000
Investment income
$2,975
Other revenue
$302,028

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$180,915
Salaries, compensation and benefits (total)
$218,326
Professional fundraising fees
$0
Accounting fees
$15,203
Depreciation
$10,683
Program services (functional)
$109,713
Management and general (functional)
$299,480

Balance sheet and other

Total assets, start of year
$4,476,347
Total assets, end of year
$4,313,657
Total liabilities, end of year
$42,236
Net assets, end of year
$4,271,421
Land, buildings and equipment
$173,758
Net assets without donor restrictions
$4,271,421
Gross receipts
$332,003
Employees
2
Volunteers
13
Year formed
1968
State of legal domicile
RI

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 June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
SCOTT GIBBSPRESIDENT THROUGH DEC 2024
Officer
40$221,414
MICHELLE GODINVICE PRESIDENT
Officer
40$106,139
COLIN P KANECHAIRMAN
Trustee or director, Officer
0$0
LARRY D RIGGSVICE CHAIRMAN
Trustee or director, Officer
0$0
LAUREL L BOWERMANSECRETARY
Trustee or director, Officer
0$0
LLOYD R GARIEPYTREASURER
Trustee or director, Officer
0$0
JAMES J BELLIVEAUDIRECTOR
Trustee or director
0$0
ANTHONY W CANERDIRECTOR
Trustee or director
0$0
DANA M NEWBROOKDIRECTOR
Trustee or director
0$0
JOHN F MCJENNETT IIIDIRECTOR
Trustee or director
0$0
JOHN J VERNANCIODIRECTOR
Trustee or director
0$0
ROBERT E NAULTDIRECTOR
Trustee or director
0$0
ALAN J DOYLEDIRECTOR
Trustee or director
0$0
STEPHEN M DYLAGDIRECTOR
Trustee or director
0$0
GARY S SASSEDIRECTOR
Trustee or director
0$0
990 for the year ended June 30, 2024: 14 people
NameTitleHours / weekCompensation
SCOTT GIBBSPRESIDENT
Officer
40$234,000
JOHN F MCJENNETT IIICHAIRMAN
Trustee or director, Officer
0$0
ROBERT E NAULTVICE CHAIRMAN
Trustee or director, Officer
0$0
LAUREL L BOWERMANSECRETARY
Trustee or director, Officer
0$0
LLOYD R GARIEPYTREASURER
Trustee or director, Officer
0$0
JAMES J BELLIVEAUDIRECTOR
Trustee or director
0$0
ANTHONY W CANERDIRECTOR
Trustee or director
0$0
DANA M NEWBROOKDIRECTOR
Trustee or director
0$0
LARRY D RIGGSDIRECTOR
Trustee or director
0$0
JOHN J VERNANCIODIRECTOR
Trustee or director
0$0
COLIN P KANEDIRECTOR
Trustee or director
0$0
ALAN J DOYLEDIRECTOR
Trustee or director
0$0
STEPHEN M DYLAGDIRECTOR
Trustee or director
0$0
GARY S SASSEDIRECTOR
Trustee or director
0$0

Address and contacts

Address (IRS master file)
1300 HIGHLAND CORPORATE DR STE 202, CUMBERLAND, RI 02864-8710
Principal officer (990 for 2024)
MICHELLE GODIN, 1300 HIGHLAND CORPORATE DR 202, CUMBERLAND, RI 02864
Signed the 990
MICHELLE GODIN, VICE PRESIDENT
Phone
(401) 658-1050
Return prepared by
CBIZ ADVISORS LLC

Mission

TO DEVELOP AND SELL REAL ESTATE TO FACILITATE LOCAL TAX BASE EXPANSION AND QUALITY JOB OPPORTUNITES IN THE STATE OF RHODE ISLAND.

990 for the year ended June 30, 2025

Program accomplishments

  • THE CORPORATION WAS INITIATED TO DEVELOP AND SELL REAL ESTATE TO FACILITATE LOCAL TAX BASE EXPANSION AND QUALITY JOB OPPORTUNITIES IN THE STATE OF RI
    Expenses $109,713 · revenue $329,028

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 June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
05-0319515
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
1973
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$4,313,657
Income (IRS master file)
$332,003

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$332,003$409,193$4,313,657IRS
990June 2024$297,884$542,758$4,476,347XML
990June 2023$522,042$888,178$4,740,774IRS
990June 2022–––IRS
990June 2021–––IRS
990June 2019–––IRS
990June 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 05-0319515).

Questions about ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC

What is the EIN of ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC?
The employer identification number (EIN) of ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC is 05-0319515.
Is ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1973.
Are donations to ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC 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 ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC?
The 990 for the year ended June 30, 2025 names MICHELLE GODIN.
Who are the officers and directors of ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC?
The 990 for the year ended June 30, 2025 lists 15 people; 2 received compensation from the organization, the highest $221,414 (SCOTT GIBBS, PRESIDENT THROUGH DEC 2024).
How much revenue does ECONOMIC DEVELOPMENT FOUNDATION OF RHODE ISLAND INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $332,003, expenses of $409,193 and total assets of $4,313,657 at year end.

Other nonprofits in CUMBERLAND

All nonprofits in CUMBERLAND · Rhode Island