Nonprofit · EIN 01-6019454
INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD
Tax-exempt (reinstated) · SANFORD, ME 04073
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $138,754 | $40,233 | $98,521 | $5,251,629 | $0 | $5,251,629 |
| December 31, 2023 | 990 | $102,452 | $37,485 | $64,967 | $4,625,739 | $5,000 | $4,620,739 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $31,988
- Investment income
- $106,766
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $25,000
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $60
- Program services (functional)
- $32,963
- Management and general (functional)
- $7,210
Balance sheet and other
- Total assets, start of year
- $4,625,739
- Total assets, end of year
- $5,251,629
- Total liabilities, end of year
- $0
- Net assets, end of year
- $5,251,629
- Land, buildings and equipment
- $1,256,942
- Publicly traded securities
- $3,906,574
- Gross receipts
- $138,754
- Employees
- 0
- Year formed
- 1959
- State of legal domicile
- ME
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Robert I Hardison | Director Trustee or director | – | $0 |
| Ted Hissong | Director Trustee or director | – | $0 |
| Gordon Collins | Director Trustee or director | – | $0 |
| David Jagger | Director Trustee or director | – | $0 |
| Michael Ralston | Director Trustee or director | – | $0 |
| Alex Shain | Director Trustee or director | – | $0 |
| Gwen Bedell Gadbois | Treasurer Officer | 4 | $0 |
| Edward J Titcomb | Secretary Officer | 1 | $0 |
| Allison Navia | Vice President Officer | 2 | $0 |
| David Nickerson | President Officer | 4 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ted Hissong | Director Trustee or director | – | $0 |
| Gordon Collins | Director Trustee or director | – | $0 |
| David Jagger | Director Trustee or director | – | $0 |
| Allison Navia | Director Trustee or director | – | $0 |
| David Nickerson | Director Trustee or director | – | $0 |
| Tom Cote | Director Trustee or director | – | $0 |
| Robert I Hardison | President Officer | 2 | $0 |
| Gwen Bedell Gadbois | Treasurer Officer | 4 | $0 |
| Edward J Titcomb | Secretary Officer | 1 | $0 |
| Michael Ralston | Vice President Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 917 MAIN ST STE B, SANFORD, ME 04073-3568
- In care of
- % GWEN BEDELL GADBOIS
- Principal officer (990 for 2024)
- Gwen B Gadbois, 917 Main Street Suite B, Sanford, ME 04073
- Signed the 990
- Gwen B Gadbois, Treasurer
- Phone
- (207) 324-4280
- Return prepared by
- Ferguson & Nichols
Mission
Development Corporation which has developed and manages a business park in Sanford. Works to recruite new companies to located in the business park.
Program accomplishments
- Grants funded the Sanford Regional Growth Council, Program Service Expenses maintained the business park.Expenses $32,963 · grants $25,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 01-6019454
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $5,251,629
- Income (IRS master file)
- $138,754
Revocation and reinstatement
- Exemption revoked
- May 15, 2010
- Posted by the IRS
- June 9, 2011
- Reinstated
- Effective May 15, 2010
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $138,754 | $40,233 | $5,251,629 | IRS |
| 990 | December 2023 | $102,452 | $37,485 | $4,625,739 | XML |
| 990 | December 2022 | $100,870 | $31,810 | $4,325,911 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-6019454).
Questions about INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD
- What is the EIN of INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD?
- The employer identification number (EIN) of INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD is 01-6019454.
- Is INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2010 and reinstated it effective May 15, 2010.
- Are donations to INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD?
- The 990 for the year ended December 31, 2024 names Gwen B Gadbois.
- Who are the officers and directors of INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD?
- The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
- How much revenue does INDUSTRIAL DEVELOPMENT CORPORATION OF SANFORD have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $138,754, expenses of $40,233 and total assets of $5,251,629 at year end.
Other nonprofits in SANFORD
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- SANFORD REGIONAL ECONOMIC GROWTH COUNCIL EIN 27-2534189 · last filed 990 for 2026
- BUILDING ENVELOPE PERFORMANCE INSTITUTE EIN 83-2221457 · last filed 990 for 2026
- MAINE PEOPLE BEFORE POLITICS EIN 27-3923887 · last filed 990-EZ for 2025
- YORK COUNTY COMMUNITY ACTION CORP EIN 01-6020406 · last filed 990 for 2025
- WAYPOINT MAINE INC EIN 01-0279587 · last filed 990 for 2025
- SHA DEVELOPMENT CORPORATION EIN 31-1699762 · last filed 990 for 2025
- YOUNG MENS CHRISTIAN ASSOCIATION SANFORD-SPRINGVALE EIN 01-0211814 · last filed 990 for 2024
All nonprofits in SANFORD · Maine · Community improvement and capacity building