OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC

EIN: 050389516

WARWICK, RI

Total Revenue
$1,480,658
Total Expenses
$1,484,857
Total Assets
$616,957
Net Assets
$340,627
🔒

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

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
RI
Principal Officer
RUSSELL A GASTON
Phone
4012911504
Tax Period
2024-10-01 to 2025-09-30

OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC, founded in 1980, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024.

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 Service Accomplishments

Program 1
Expenses: $1,484,857

MAKING SECTION 504 SBA LOANS TO BUSINESSES IN ACCORDANCE WITH THE RULES AND REGULATIONS PROMULGATED BY THE US SMALL BUSINESS ADMINISTRATION.

🔒

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%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,480,658
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,480,658

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,126,985
Fundraising Expenses $0
Program Expenses $1,484,857
Other Expenses $357,872
TOTAL EXPENSES $1,484,857

Year-over-Year Comparison

2024 2023 Change
Revenue $1,480,658 $1,429,567 +0.0%
Expenses $1,484,857 $1,414,431 +0.0%
Net Income $-4,199 $15,136 -1.3%
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

Sign In

Governance

Voting Members
11
Independent Members
10
Employees
4
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
1
$449,725
Total Directors
11
$455,525
Key Employees
1
$205,979
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RUSSELL W HAHN CHAIRMAN 2.00
Director
$400 $0 $400
RUSSELL A GASTON PRESIDENT 40.00
Officer Director
$423,925 $25,800 $449,725
SEAN MCINTYRE DIRECTOR 1.00
Director
$600 $0 $600
JOHN PIMENTAL DIRECTOR 1.00
Director
$200 $0 $200
KEVIN CASEY DIRECTOR 1.00
Director
$600 $0 $600
CRISTINA FEDEN DIRECTOR 1.00
Director
$600 $0 $600
SHARYN HARRINGTON DIRECTOR 1.00
Director
$800 $0 $800
HASAN ALI DIRECTOR 1.00
Director
$400 $0 $400
ROBERT E NICKERSON DIRECTOR 1.00
Director
$600 $0 $600
ERIC LICHATIN DIRECTOR 1.00
Director
$800 $0 $800
MICHAEL LEVINSON DIRECTOR 1.00
Director
$800 $0 $800
JAMES TIERNEY VP COMMERCIA 40.00
Key Emp
$175,076 $30,903 $205,979
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
2025 $1,480,658 $1,484,857 $616,957 $-4,199
2024 $1,429,567 $1,414,431 $724,236 $15,136
2023 $1,348,315 $1,324,986 $614,935 $23,329
2022 $1,243,867 $1,141,950 $521,138 $101,917
2021 $1,104,933 $993,024 $504,852 $111,909
2020 $982,598 $965,977 $344,495 $16,621
2020 $982,598 $941,612 $376,360 $40,986
2019 $939,776 $873,140 $375,656 $66,636
2018 $889,580 $841,157 $385,586 $48,423
Explore More Nonprofits
→Top 100 Nonprofits in Rhode Island →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare OCEAN STATE BUSINESS DEVELOPMENT AUTHORITY INC with other nonprofits in Rhode Island and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.