2024-12-18T12:01:28-06:00 2024-06-30 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2023-07-01 042655817 JOBS FOR FALL RIVER INC JOBS 5083242620 139 SOUTH MAIN STREET 400 FALL RIVER MA 02721 KENNETH FIOLA EXECUTIVE VICE PRESIDENT 5083242620 2024-12-17 1 1 JOLANTA TUCK CPA P01340068 7813803520 2024-12-13 2023 2024-10-15 13:58:12Z BRISTOL COUNTY EDC FRANK MARCHIONE 139 SOUTH MAIN STREET 400 FALL RIVER MA 02721 1120696 0 X BRISTOLCOUNTYEDC.COM X 1978 MA THE ORGANIZATION'S MISSION IS TO PROMOTE PROSPERITY AND THE GENERAL WELFARE OF THE CITIZENS OF THE CITY OF FALL RIVER BY STIMULATING ECONOMIC AND INDUSTRIAL GROWTH AND EXPANSION IN THE AREA TO INCLUDE THE CITY OF FALL RIVER AND THE TOWNS OF FREETOWN, SOMERSET AND WESTPORT. 24 24 5 25 0 0 420578 299999 730099 809341 6602 10919 582 437 1157861 1120696 107500 403845 0 0 524745 556131 0 0 0 685228 685729 1317473 1645705 -159612 -525009 10598026 10067879 2967254 2962116 7630772 7105763 X THE ORGANIZATION'S MISSION IS TO PROMOTE PROSPERITY AND THE GENERAL WELFARE OF THE CITIZENS OF THE CITY OF FALL RIVER BY STIMULATING ECONOMIC AND INDUSTRIAL GROWTH AND EXPANSION IN THE AREA TO INCLUDE THE CITY OF FALL RIVER AND THE TOWNS OF FREETOWN, SOMERSET AND WESTPORT. 0 0 596656 403845 143575 LENDING PROGRAMS, ORIGINATING FROM FEDERAL AND PRIVATE GRANTS OR LOANS: THE ORGANIZATION MAKES LOANS TO ELIGIBLE LOCAL BUSINESSES. 513961 250785 PROPERTY DEVELOPMENT ACTIVITIES: THE REFURBISHMENT AND OPERATION OF A HISTORIC DOWNTOWN BUILDING DEVELOPED AS COMMERCIAL, RETAIL AND/OR CAMPUS SPACE. LOCATED IN AN ECONOMICALLY CHALLENGED AREA OF FALL RIVER (THE "CITY") WITH THE INTENTION OF PROVIDING ECONOMIC DEVELOPMENT AND RECOVERY. 90303 PROPERTY RESTORATION ACTIVITIES: AT ITS INCEPTION, IT WAS TO RESTORE AND PRESERVE THE LINCOLN PARK CAROUSEL, A PHILADELPHIA TOBOGGAN COMPANY CAROUSEL CONSTRUCTED IN 1920. THE CAROUSEL WAS FULLY RESTORED AND OPERATIONAL IN 1985. THIS LOCAL LANDMARK WAS PLACED AT THE CITY'S WATERFRONT NEXT TO BATTLESHIP COVE. EFFECTIVE JULY 1, 2021, THE CAROUSEL WILL BE LEASED AND OPERATED BY FALL RIVER CAROUSEL CREAMERY. REVENUES DERIVED FROM ITS OPERATION ARE KEPT AND REPORTED BY THE UMMC AND APPLIED TO THEIR COSTS OF OPERATIONS. 415418 ECONOMIC DEVELOPMENT ACTIVITIES THAT INCLUDE ASSISTING LOCAL COMPANIES WITH THEIR EXPANSION PLANS OR OTHER BUSINESS CONCERNS: MARKETING THE CITY OF FALL RIVER WORLDWIDE, IN ORDER TO PURSUE NEW BUSINESS INVESTMENT OR OTHER SIMILAR INITIATIVES. 415418 1200920 0 1 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 5 1 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 0 0 MA X KENNETH FIOLA 5083242620 139 SOUTH MAIN STREET SUITE 400 FALL RIVER MA 02721 FRANK MARCHIONE PRESIDENT 1.00 X X 0 0 0 JAMES M KARAM VICE PRESIDENT 1.00 X X 0 0 0 CARLOS A DACUNHA TREASURER 1.00 X X 0 0 0 RON RUSIN CLERK 1.00 X X 0 0 0 MICHAEL BENEVIDES MEMBER AT LARGE 0.50 X 0 0 0 PAUL C BURKE MEMBER AT LARGE 0.50 X 0 0 0 MICHAEL BUSHELL MEMBER AT LARGE 0.50 X 0 0 0 FRANCISCO J CABRAL MEMBER AT LARGE 0.50 X 0 0 0 TIMOTHY CHAVES MEMBER AT LARGE 0.50 X 0 0 0 REBECCA COLLINS MEMBER AT LARGE 0.50 X 0 0 0 MARK CORDEIRO MEMBER AT LARGE 0.50 X 0 0 0 BRUCE FERNANDES MEMBER AT LARGE 0.50 X 0 0 0 MARIA FERREIRA-BEDARD MEMBER AT LARGE 0.50 X 0 0 0 FRED M FRANCO MEMBER AT LARGE 0.50 X 0 0 0 ROBIN HODKINSON MEMBER AT LARGE 0.50 X 0 0 0 JANNA LAFRANCE MEMBER AT LARGE 0.50 X 0 0 0 MICHAEL LUND MEMBER AT LARGE 0.50 X 0 0 0 STEPHANIE MANCINI MEMBER AT LARGE 0.50 X 0 0 0 PAUL S MEDEIROS MEMBER AT LARGE 0.50 X 0 0 0 ROBERT MONGEON MEMBER AT LARGE 0.50 X 0 0 0 MICHELLE PELLETIER MEMBER AT LARGE 0.50 X 0 0 0 KENNETH R REZENDES MEMBER AT LARGE 0.50 X 0 0 0 JAMES P SABRA MEMBER AT LARGE 0.50 X 0 0 0 JOHN SILVA MEMBER AT LARGE (UNTIL 4/24) 0.50 X 0 0 0 JAMES WALLACE MEMBER AT LARGE 0.50 X 0 0 0 KENNETH FIOLA EXECUTIVE VICE PRESIDENT 40.00 X 240440 0 9277 LYNN OLIVEIRA CHIEF FINANCIAL OFFICER 40.00 X 102872 0 39518 343312 0 48795 2 0 1 0 0 299999 299999 MGMT & CONSULTING FEES 541610 415418 415418 RENTAL INCOME 531120 250785 250785 LOAN INTEREST 522200 136208 136208 LOAN ORIG.& SERV. FEES 522200 6930 6930 809341 10919 10919 437 437 437 1120696 809778 0 10919 403845 403845 401324 79001 322323 116893 101407 15486 2732 1272 1460 5208 5208 29974 21381 8593 32597 32597 1265 1265 1813 1813 34637 7465 27172 383312 376301 7011 6274 6274 16865 9000 7865 196040 196040 6209 6209 EQUIPMENT RENTAL AND MA 6717 6717 1645705 1200920 444785 0 274718 184812 1952988 2570361 28667 41131 38293 196743 4282387 3232168 23026 23978 8034515 4264656 3949120 3769859 48827 48827 10598026 10067879 123810 193047 21980 9924 21799 14023 2799665 2745122 2967254 2962116 X 3870920 3223622 3759852 3882141 7630772 7105763 10598026 10067879 -525009 0 X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 135000 135000 7751444 4126958 3624486 46469 46469 0 101602 91229 10373 3769859 X 1120696 0 1120696 0 1120696 1645705 0 1645705 0 1645705 PART IV, LINE 2B: THE ESCROW LIABILITY AT THE END OF THE YEAR WAS $14,023. PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GENERALLY, THE ORGANIZATION'S INFORMATION/TAX RETURNS REMAIN OPEN FOR POSSIBLE FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS AFTER THE FILING DATE. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION, HOWEVER FISCAL YEARS SINCE 2021 REMAIN OPEN FOR AUDIT. 1 DUNNY'S INC 16 BEDFORD STREET FALL RIVER MA 02720 454305251 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID DIRTY LAUNDRY INC 129 FRONT STREET FALL RIVER MA 02721 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID TA RESTAURANT INC 408 SO MAIN STREET FALL RIVER MA 02721 830346843 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID SAGRES RESTAURANT INC 177-181 COLUMBIA STREET FALL RIVER MA 02720 042692356 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID GINA'S RESTAURANT LLC 950 WILSON ROAD FALL RIVER MA 02720 204005866 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID THE JUICE'D CAFE OF FALL RIVER INC 1475 PLYMOUTH AVE FALL RIVER MA 02721 842618215 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID JOES CARPET CORPORATION 333 BANK STREET FALL RIVER MA 02720 473657382 12500 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID THE PINK BEAN LLC 202 SLADES FERRY AVE SOMERSET MA 02726 463927528 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID PRO BEAUTY OF FALL RIVER INC 101 PRESIDENT AVE FALL RIVER MA 02720 473561273 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID TJ'S MUSIC INC 347 S MAIN STREET FALL RIVER MA 02721 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID FALL RIVER SPINE & DISC CENTER INC 415 ELSBREE STREET FALL RIVER MA 02720 562313180 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID STUDIO VOGUE INC 76 JETTE STREET SWANSEA MA 02777 25000 0 ECONOMIC STABILIZATION FOLLOWING LOSSES DUE TO COVID 0 12 PART I, LINE 2: GRANTEES ARE REQUIRED TO REPORT JOB CREATION/RETENTION NUMBERS THROUGHOUT THE YEAR. THE LOAN AGREEMENTS ALSO SPECIFY THAT THE FUNDS MUST BE USED FOR THE INTENDED PURPOSES. X X 0 0 0 0 0 0 0 0 0 KENNETH FIOLA EXECUTIVE VICE PRESIDENT 227063 0 0 0 13377 0 7273 0 2466 0 250179 0 0 0 PART I, LINE 3 EXECUTIVE COMMITTEE APPROVES COMPENSATION OF EXECUTIVE DIRECTOR PER APPROVAL OF THE BOARD. COMPENSATION IS RECORDED BY CONTRACT OVER FIVE YEAR PERIOD. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION CONTEMPORANEOUSLY DOCUMENTS MEETINGS HELD BY THE FINANCE COMMITTEE BUT DOES NOT DO SO FOR MEETINGS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE, CONSISTING OF THE OFFICERS OF THE ORGANIZATION, MEETS MONTHLY AND DOES NOT KEEP MINUTES; AN AGENDA OF EACH MEETING IS PREPARED AND MAINTAINED. THE EXECUTIVE COMMITTEE DOES HAVE THE AUTHORITY, GRANTED BY THE BOARD OF DIRECTORS, TO APPROVE RAISES AND THE FINANCIAL STATEMENT AUDIT. APPROVAL OF SUCH IS EITHER DOCUMENTED IN MEMO FORM OR CONTRACT AND APPROVALS ARE NOTED AT THE NEXT BOARD OF DIRECTORS MEETING. FORM 990, PART VI, SECTION B, LINE 11B EXECUTIVE DIRECTOR REVIEWS THE FORM 990 AND SUBMITS THE FORM FOR APPROVAL BY THE EXECUTIVE COMMITTEE. THE FULL BOARD HAS REVIEWED FORM 990 PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS RECEIVES A COPY OF THE CONFLICT OF INTEREST POLICY AND ANNUALLY IS REQUIRED TO RETURN PROVIDED STATEMENT THAT THEY HAVE READ THIS POLICY AND TO STATE WHETHER ANY CONFLICTS EXIST AND IF SO WHAT CONFLICTS THERE ARE. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE COMMITTEE APPROVES COMPENSATION OF EXECUTIVE DIRECTOR PER APPROVAL OF THE BOARD. COMPENSATION IS RECORDED BY CONTRACT OVER FIVE YEAR PERIOD. FORM 990, PART VI, SECTION C, LINE 18 ALL FORMS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE BYLAWS IS AVAILABLE UPON REQUEST AND AFTER CONSIDERATION. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE ARTICLES OF INCORPORATION ARE AVAILABLE VIA THE OFFICE OF THE SECRETARY OF THE COMMONWEALTH OF MASSACHUSETTS. COPIES OF FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ARE ALSO ACCESSIBLE ONLINE THROUGH THE COMMONWEALTH OF MASSACHUSETTS DIVISION OF PUBLIC CHARITIES.