Jobs For Fall River Inc
- Assets
- $10.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Fall River, MA
- Founding
- 04/1980
- Data as of
- 06/2022
- EIN
- 04-2655817
Organization Overview
Jobs For Fall River Inc, operating under the name Bristol County Edc, is located in Fall River, MA. The organization was established in 1980. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Bristol County Edc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bristol County Edc 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 06/2022, Bristol County Edc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 6.9% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING PROGRAMS, ORIGINATING FROM FEDERAL AND PRIVATE GRANTS OR LOANS: THE ORGANIZATION MAKES LOANS TO ELIGIBLE LOCAL BUSINESSES.
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.
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, THECAROUSEL 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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Fiola Executive Vice President | Officer | 40 | $218,916 |
Lynn Oliveira Chief Financial Officer | Officer | 40 | $85,236 |
Frank Marchione President | OfficerTrustee | 1 | $0 |
James M Karam Vice President | OfficerTrustee | 1 | $0 |
Ron Rusin Clerk | OfficerTrustee | 1 | $0 |
Carlos A Dacunha Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $853,268 |
| 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 | $853,268 |
| Total Program Service Revenue | $753,874 |
| Investment income | $4,210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,626,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $327,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $372,916 |
| Compensation of current officers, directors, key employees. | $300,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,504 |
| Pension plan accruals and contributions | $1,540 |
| Other employee benefits | $1,218 |
| Payroll taxes | $25,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,409 |
| Fees for services: Accounting | $27,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,696 |
| Advertising and promotion | $12,125 |
| Office expenses | $26,174 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $299,187 |
| Travel | $4,340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,368 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,905 |
| Insurance | $59,058 |
| All other expenses | $6,093 |
| Total functional expenses | $1,476,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,630 |
| Savings and temporary cash investments | $2,341,450 |
| Pledges and grants receivable | $34,011 |
| Accounts receivable, net | $49,652 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,796,179 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,896 |
| Net Land, buildings, and equipment | $4,061,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,827 |
| Other assets | $0 |
| Total assets | $10,855,631 |
| Accounts payable and accrued expenses | $112,173 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,272 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,947,802 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,065,247 |
| Net assets without donor restrictions | $3,115,726 |
| Net assets with donor restrictions | $4,674,658 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,855,631 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |