Southeastern New England Defense Industry Alliance
- Assets
- $2.8m
- Revenue
- $20.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Middletown, RI
- Founding
- 02/2015
- Data as of
- 12/2023
- EIN
- 26-2133253
Organization Overview
Southeastern New England Defense Industry Alliance, operating under the name Senedia, is located in Middletown, RI. The organization was established in 2015. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Senedia employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Senedia is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Senedia generated $20.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 61.6% each year . All expenses for the organization totaled $19.9m during the year ending 12/2023. While expenses have increased by 65.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENABLE THE DEVELOPMENT OF CRITICAL TECHNOLOGIES, FOSTER THOUGHT LEADERSHIP, AND FACILITATE WORKFORCE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORNERSTONE OTHER TRANSACTIONS AUTHORITY (OTA) PROVIDES PROGRAM MANAGEMENT SUPPORT TO REGIONAL WORKFORCE DEVELOPMENT EFFORTS FOCUSED ON TRADE AND INDUSTRIAL SKILLED CURRENT AND FUTURE WORKERS IN SUPPORT OF THE SUBMARINE SHIPBUILDING SUPPLY CHAIN.
MEMBER SUPPORT - MEMBERSHIP EVENTS WHICH INCLUDE NETWORKING AND TECHNICAL INFORMATION EVENTS ON TOPICS SUCH AS CYBERSECURITY, UNMANNED TECHNOLOGY, AND NEW TECHNOLOGIES. A SOCIAL MEDIA PROGRAM IS IN PLACE TO SHARE RELEVANT INFORMATION IN A TIMELY MANNER WITH MEMBERS.
REAL JOBS RI PROVIDES PROGRAM MANAGEMENT SUPPORT FOR WORKFORCE DEVELOPMENT EFFORTS IN SUPPORT OF THE DEFENSE SECTOR INTERNSHIP PROGRAM FOCUSED ON ENGINEERING, SCIENCE, IT/CYBER, SUPPLY CHAIN AND BUSINESS MANAGEMENT, AND VETERANS. THE PROGRAM HELPS DEVELOP THE PIPELINE OF CURRENT AND FUTURE DEFENSE SECTOR WORKERS FOR THE DEFENSE SECTOR.
CONFERENCES AND INDUSTRY PARTNERSHIP- ON BEHALF OF OUR MEMBER COMPANIES AND THE SOUTHEASTERN NE DEFENSE INDUSTRY AT LARGE, WE IDENTIFY, CHAMPION AND COORDINATE ISSUES THAT CONTRIBUTE TO THE NATIONAL SECURITY AND PROVIDE BENEFIT TO THE DEFENSE SECTOR. MEMBERSHIP, EDUCATION, DEVELOPMENT, AND OUTREACH EFFORTS ARE PROVIDED INCLUDING INCUMBENT AND FUTURE WORKFORCE DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Donohue Magee Executive Director | Officer | 20 | $78,443 |
Jaime Degala Director | Trustee | 1 | $0 |
Richard Beretta Director | Trustee | 1 | $0 |
Donald Mccormack Director | Trustee | 1 | $0 |
Paul Ferraro Director | Trustee | 1 | $0 |
Dennis Mclaughlin Director | Trustee | 1 | $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 | $20,054,209 |
| Investment income | $11,287 |
| 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 | $20,065,496 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $80,896 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $277,655 |
| Pension plan accruals and contributions | $6,088 |
| Other employee benefits | $0 |
| Payroll taxes | $30,605 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,261,791 |
| Advertising and promotion | $3,627 |
| Office expenses | $21,863 |
| Information technology | $53,335 |
| Royalties | $0 |
| Occupancy | $28,935 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $131,139 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,375 |
| All other expenses | $0 |
| Total functional expenses | $19,917,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $420,940 |
| Savings and temporary cash investments | $247,075 |
| Pledges and grants receivable | $30,325 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,327 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,108,088 |
| Total assets | $2,807,755 |
| Accounts payable and accrued expenses | $2,011,406 |
| Grants payable | $0 |
| Deferred revenue | $34,270 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,153 |
| Total liabilities | $2,079,829 |
| Net assets without donor restrictions | $693,656 |
| Net assets with donor restrictions | $34,270 |
| 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 | $2,807,755 |