Overview
What is Ocean State Business Development Au?
Ocean State Business Development Au is a nonprofit organization situated in Warwick, Rhode Island (RI). With a team of five dedicated individuals, their primary mission is to facilitate Section 504 SBA loans for businesses in compliance with the regulations set by the U.S. Small Business Association. Their goal is to efficiently provide unique capital and services to small businesses in Rhode Island, Massachusetts, and Connecticut. By offering assistance in acquiring equipment and commercial real estate, they help these businesses grow and thrive.
Official website here: www.osbda.com
Is Ocean State Business Development Au legitimate?
Ocean State Business Development Au is a legitimate nonprofit organization registered as a 501(c)(4) entity. Ocean State Business Development Au submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $603,091
Professional Fundraising Fees: $0
Other Salaries and Wages: $258,723
For more financial information, click here
Official website here: www.osbda.com
What is the mission statement of Ocean State Business Development Au?
Ocean State Business Development Au's mission is centered around effectively supplying unique capital and services to small businesses situated in Rhode Island, Massachusetts, and Connecticut. Their primary objective is to aid these businesses in procuring necessary equipment and commercial real estate, thereby facilitating their growth. The organization operates by following the rules and regulations set by the U.S. Small Business Association, specifically through Section 504 SBA loans.
Official website here: www.osbda.com
What is the revenue of Ocean State Business Development Au?
Ocean State Business Development Au's revenue in 2024 was $1,429,567.
Official website here: www.osbda.com
Who are the executives of Ocean State Business Development Au and what are their salaries?
The average compensation at Ocean State Business Development Au during 2024 was $215,454. There are 4 employees at Ocean State Business Development Au.
Here are 13 key members and their salaries:
- Compensation: $385,525
- Related: $0
- Other: $28,941
- Compensation: $161,834
- Related: $0
- Other: $8,320
- Compensation: $148,395
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
Official website here: www.osbda.com
Where can I find the form 990 for Ocean State Business Development Au?
Ocean State Business Development Au's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.osbda.com
Learn more at the official website: www.osbda.com
Mission Statement of Ocean State Business Development Au
Ocean State Business Development Au, with a focus on efficiency, aims to provide distinctive capital and services to small businesses situated in Rhode Island, Massachusetts, and Connecticut. The organization's mission is to assist these businesses in procuring essential equipment and commercial real estate, thereby facilitating their growth. To accomplish this, Ocean State Business Development Au adheres to the rules and regulations set forth by the United States Small Business Association while making Section 504 SBA loans. This commitment to helping small businesses expand and thrive is at the heart of Ocean State Business Development Au's mission.
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Impact
October, 2024
Ocean State Business Development Au significantly impacts small businesses in Rhode Island, Massachusetts, and Connecticut by providing unique capital and tailored services that facilitate their growth. Through its specialized focus on making Section 504 SBA loans, it enables businesses to acquire essential equipment and secure commercial real estate. This access to financing helps entrepreneurs expand their operations, invest in infrastructure, and create jobs, ultimately contributing to vibrant local economies. By supporting small businesses, Ocean State Business Development Au fosters community improvement and economic development in the region.
This information is meant to be a general summary of Ocean State Business Development Au. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Program Service Revenue: $1,429,567
- Gross Receipts: $1,429,567
Assets and Liabilities:
- Total Assets: $614,935
- Total Liabilities: $244,820
- Net Assets: $370,115
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$794,196
PROCESSING FEES
Revenue
$541,466
ESCROW FLOAT INTEREST
Revenue
$93,905
Organization Details
Founding Year
1980
Principal Officer
Russell A Gaston
Website
www.osbda.comNTEE Category
Code: S43 - Community improvement
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