Greater Fall River Development Corporation

Organization Overview

Greater Fall River Development Corporation is located in Fall River, MA. The organization was established in 1969. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Fall River Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 04/2023, Greater Fall River Development Corporation generated $641.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 32.5% each year . All expenses for the organization totaled $299.8k during the year ending 04/2023. While expenses have increased by 5.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2016, Greater Fall River Development Corporation has awarded 81 individual grants totaling $1,820,391. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

BUSINESS AND JOB DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

UPGRADING AND DEVELOPING LAND FOR SALE TO MAKE AVAILABLE TO NEW BUSINESSES TO START/EXPAND, THUS CREATING NEW JOBS FOR THE GREATER FALL RIVER AREA.


GRANTS TO LOCAL SCHOOL/ORGANIZATIONS TO SUPPORT PROGRAMS AND DEVELOPMENT


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Board, Officers & Key Employees

Name (title)Compensation
Peter Saulino ESQ
Clerk
$450
Robert Bogan
President
$0
Philip Pelletier
Vice President
$0
Steve Kenyon
Treasurer
$0
Peter Cabral
Assistant Treasurer
$0
James Palumbo
Assistant Clerk
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $215,516
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $401,196
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $641,232

Grants Awarded

Over the last fiscal year, Greater Fall River Development Corporation has awarded $162,207 in support to 5 organizations.

Grant RecipientAmount

FALL RIVER HISTORICAL SOCIETY

PURPOSE: Capital Campaign

$25,000

UASPIRE

PURPOSE: Program Sponsorship

$30,000

FALL RIVER DEACONESS HOME

PURPOSE: Technology Grant

$7,207

WESTPORT COMMUNITY SCHOOLS

PURPOSE: Educational Grant

$25,000

UNIVERSITY OF MA - DARTMOUTH

PURPOSE: Scholarship Fund

$75,000
View Grant Profile

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