2025-11-12T09:10:04-06:00 2024-12-31 050495839 ALSD LTD 1604 Broad Street Cranston RI 02905 990 2024-01-01 222956223 Block Island Economic Development Foundation Inc BLOC 4014870017 PO Box 619 Block Island RI 02807 Gerard Pierce President 4014870017 2025-11-12 1 0 Richard Streitfeld P00290819 4012230205 2024 2025-03-06 01:10:19Z Gerard Pierce Box 619 Block Island Rhode Island RI 02807 444731 1 1 9134 X N/A X 1977 RI The Foundation (BIED) and its subsidiaries' mission is to improve economic and social conditions for residents of Block Island.BIED has done this by providing low and moderate housing. BIED has also built and now managesa community center that provides child care and senior activities. BIED also operates a gallery for local artists. 9 9 0 0 0 0 13200 18196 2802 6614 0 520 6497 -26933 22499 -1603 0 0 0 0 11472 13299 0 0 0 57895 75632 69367 88931 -46868 -90534 1491920 1360969 1936933 1878514 -445013 -517545 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 child care and senior activities, operates an art gallery for local residents and rents residential units to residents. 0 0 76819 32572 Spring Street Gallery is a cooperative of Block Island artists who learn from each other, develop their work , provide art related programs and sell their work at a small summer Gallery on the island. The Community Center serves all BI residents BIED housing subsidiary owns and operates 16 low income rental apartments on Block Island called "E. Searles Ball Memorial Housing." The project is a subsidized rental housing project under the auspices of USDA -- Rural Development. However all income and expense is reported as rental revenue and rental expense. 76819 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X Gerard Pierce 4014665470 PO Box 619 Block Island RI 02807 X Roberta McCormick Director 1.00 X 0 0 0 Linda Spak Director 3.00 X 0 0 0 Gail Pierce Director 3.00 X 0 0 0 Jennifer Taubman Director 1.00 X 0 0 0 Amadeus Mafosi Director 1.00 X 0 0 0 Gerald Pierce President 3.00 X X 0 0 0 Rebecca Brown Secretary/Treasurer 3.00 X X 0 0 0 Monica Hull Shea Vice-President 3.00 X X 0 0 0 0 0 0 0 0 0 0 0 18196 18196 Other Comm Center Reve 611710 6614 6614 6614 520 520 345253 404758 -59505 -59505 -59505 74148 41576 32572 32572 -1603 -20319 0 520 13299 11969 1330 2558 2558 1200 1200 1449 1449 2767 2490 277 51570 46413 5157 2821 2821 8366 7529 837 Gallery Internet 2012 1811 201 Grant Exp Gallery 1980 1782 198 Other CC CTr 909 818 91 88931 76819 12112 0 224378 232272 18770 3787477 2678112 1215488 1109365 33284 19332 1491920 1360969 65588 67234 1691508 1653307 145334 135796 34503 22177 1936933 1878514 X -445013 -517545 -445013 -517545 1491920 1360969 -90534 18002 0 X 0 0 0 X 11750 12950 7709 13200 18196 63805 334586 282447 283204 377397 351867 1629501 346336 295397 290913 390597 370063 1693306 0 0 0 1693306 112 20 20 8 520 680 112 20 20 8 520 680 346448 295417 290933 390605 370583 1693986 0.99960 0.99980 0.00040 0.00020 X 238000 238000 3549477 2678112 871365 1109365 Secuirty Deposits owed tenants 17241 PPP Loan Payable 2000 Misc (A/P Negative) 2936 22177 X Part X, Line 2: The organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the agency and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for years ending June 30, 2018 and 2017. Form 990, Part VI, Section B, line 11b The 990 is provided to members of the board before filing, Form 990, Part VI, Section C, line 19 The organization's 990 is made public through Guidestar's website. The organization believes the 990 provides sufficient information to the publlc. Block Island Economic Development Housing Corp PO Box 619 Block Island RI 02807 050416560 Housing RI Charity Line 10 Block Island Economic Development Foundation 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0