Block Island Economic Development Foundation Inc (EIN 050381201) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

Gerard Pierce

Phone

4014870017

Tax Period

2023-01-01 to 2023-12-31

Block Island Economic Development Foundation Inc, founded in 1977, is a micro nonprofit in the Housing & Shelter sector that reported $59K in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $69K exceeded revenue, resulting in a 17% operating deficit.

Mission

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.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,200

Program Service Revenue $2,802

Investment Income $578

Other Revenue $42,882

TOTAL REVENUE $59,462

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,472

Fundraising Expenses $0

Program Expenses $56,475

Other Expenses $57,895

TOTAL EXPENSES $69,367

Year-over-Year Comparison

	2023	2022	Change
Revenue	$59,462	$51,020	+0.2%
Expenses	$69,367	$65,849	+0.1%
Net Income	$-9,905	$-14,829	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gerald Pierce	President	3.00	Officer Director	$0	$0	$0
Rebecca Brown	Secretary/Treasurer	2.00	Officer Director	$0	$0	$0
Roberta McCormick	Director	1.00	Director	$0	$0	$0
Linda Spak	Director	1.00	Director	$0	$0	$0
Gail Pierce	Director	1.00	Director	$0	$0	$0
Jennifer Taubman	Director	1.00	Director	$0	$0	$0
Monica Hull-Shea	Vice President	2.00	Officer Director	$0	$0	$0
Amadeus Mafosi	Director	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$59,462	$69,367	$396,600	$-9,905
2022	$51,020	$65,849	$414,873	$-14,829
2021	$44,775	$59,573	$441,384	$-14,798
2020	$45,408	$47,565	$464,228	$-2,157
2019	$42,781	$58,877	$472,490	$-16,096
2018	$47,635	$63,875	$496,530	$-16,240

Block Island Economic Development Foundation Inc