Nonprofit · EIN 05-0389516
OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC
Tax-exempt · WARWICK, RI 02888
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $1,480,658 | $1,484,857 | -$4,199 | $616,957 | $276,330 | $340,627 |
| September 30, 2024 | 990 | $1,429,567 | $1,414,431 | $15,136 | $724,236 | $379,410 | $344,826 |
| September 30, 2023 | 990 | $1,348,315 | $1,324,986 | $23,329 | $614,935 | $244,820 | $370,115 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,480,658
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $609,064
- Other salaries and wages
- $303,855
- Salaries, compensation and benefits (total)
- $1,126,985
- Professional fundraising fees
- $0
- Accounting fees
- $19,600
- Occupancy
- $55,844
- Travel
- $18,188
- Depreciation
- $18,251
- Program services (functional)
- $1,484,857
Balance sheet and other
- Total assets, start of year
- $724,236
- Total assets, end of year
- $616,957
- Total liabilities, end of year
- $276,330
- Net assets, end of year
- $340,627
- Land, buildings and equipment
- $19,181
- Net assets without donor restrictions
- $340,627
- Gross receipts
- $1,480,658
- Employees
- 4
- Year formed
- 1980
- 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 September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUSSELL A GASTON | PRESIDENT Trustee or director, Officer | 40 | $423,925 | $25,800 |
| JAMES TIERNEY | VP COMMERCIA Key employee | 40 | $175,076 | $30,903 |
| SHARYN HARRINGTON | DIRECTOR Trustee or director | 1 | $800 | $0 |
| ERIC LICHATIN | DIRECTOR Trustee or director | 1 | $800 | $0 |
| MICHAEL LEVINSON | DIRECTOR Trustee or director | 1 | $800 | $0 |
| SEAN MCINTYRE | DIRECTOR Trustee or director | 1 | $600 | $0 |
| KEVIN CASEY | DIRECTOR Trustee or director | 1 | $600 | $0 |
| CRISTINA FEDEN | DIRECTOR Trustee or director | 1 | $600 | $0 |
| ROBERT E NICKERSON | DIRECTOR Trustee or director | 1 | $600 | $0 |
| RUSSELL W HAHN | CHAIRMAN Trustee or director | 2 | $400 | $0 |
| HASAN ALI | DIRECTOR Trustee or director | 1 | $400 | $0 |
| JOHN PIMENTAL | DIRECTOR Trustee or director | 1 | $200 | $0 |
990 for the year ended September 30, 2024: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUSSELL A GASTON | PRESIDENT Trustee or director, Officer | 40 | $385,525 | $28,941 |
| JAMES TIERNEY | VP COMMERCIA Key employee | 40 | $161,834 | $8,320 |
| AMBER PERRY | AVP PORTFOLI Highest-paid employee | 40 | $148,395 | $0 |
| HASAN ALI | DIRECTOR Trustee or director | 1 | $800 | $0 |
| KEVIN CASEY | DIRECTOR Trustee or director | 1 | $800 | $0 |
| SHARYN HARRINGTON | DIRECTOR Trustee or director | 1 | $800 | $0 |
| ROBERT E NICKERSON | DIRECTOR Trustee or director | 1 | $800 | $0 |
| CRISTINA FEDEN | DIRECTOR Trustee or director | 1 | $600 | $0 |
| MICHAEL LEVINSON | DIRECTOR Trustee or director | 1 | $600 | $0 |
| ERIC LICHATIN | DIRECTOR Trustee or director | 1 | $600 | $0 |
| JOHN PIMENTAL | DIRECTOR Trustee or director | 1 | $600 | $0 |
| RUSSELL W HAHN | CHAIRMAN Trustee or director | 2 | $400 | $0 |
| SEAN MCINTYRE | DIRECTOR Trustee or director | 1 | $400 | $0 |
990 for the year ended September 30, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUSSELL GASTON | PRESIDENT Trustee or director, Officer | 40 | $366,025 | $54,136 |
| SEAN MCINTYRE | DIRECTOR Trustee or director | – | $800 | $0 |
| JOHN PIMENTAL | DIRECTOR Trustee or director | – | $800 | $0 |
| KEVIN CASEY | DIRECTOR Trustee or director | – | $600 | $0 |
| CRISTINA FEDEN | DIRECTOR Trustee or director | – | $600 | $0 |
| SHARYN HARRINGTON | DIRECTOR Trustee or director | – | $600 | $0 |
| ALI HASAN | DIRECTOR Trustee or director | – | $600 | $0 |
| ROBERT E NICKERSON | DIRECTOR Trustee or director | – | $600 | $0 |
| RUSSELL W HAHN | CHAIRMAN Trustee or director | – | $400 | $0 |
| CHARLES C NEWTON | DIRECTOR Trustee or director | – | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 300 JEFFERSON BLVD STE 105, WARWICK, RI 02888-3860
- Principal officer (990 for 2024)
- RUSSELL A GASTON, 300 JEFFERSON BLVD, WARWICK, RI 02888
- Signed the 990
- RUSSELL A GASTON, PRESIDENT
- Phone
- (401) 291-1504
- Website
- WWW.OSBDA.COM
- Return prepared by
- WADOVICK & COMPANY
Mission
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.
Program accomplishments
- MAKING SECTION 504 SBA LOANS TO BUSINESSES IN ACCORDANCE WITH THE RULES AND REGULATIONS PROMULGATED BY THE US SMALL BUSINESS ADMINISTRATION.Expenses $1,484,857
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 05-0389516
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Exempt since
- 1983
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $616,957
- Income (IRS master file)
- $1,480,658
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $1,480,658 | $1,484,857 | $616,957 | XML |
| 990 | September 2024 | $1,429,567 | $1,414,431 | $724,236 | XML |
| 990 | September 2023 | $1,348,315 | $1,324,986 | $614,935 | XML |
| 990 | September 2022 | – | – | – | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 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 05-0389516).
Questions about OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC
- What is the EIN of OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC?
- The employer identification number (EIN) of OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC is 05-0389516.
- Is OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1983.
- Which annual return does OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY 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 OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC?
- The 990 for the year ended September 30, 2025 names RUSSELL A GASTON.
- Who are the officers and directors of OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC?
- The 990 for the year ended September 30, 2025 lists 12 people; 12 received compensation from the organization, the highest $423,925 (RUSSELL A GASTON, PRESIDENT).
- How much revenue does OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $1,480,658, expenses of $1,484,857 and total assets of $616,957 at year end.
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