GRANITE STATE ECONOMIC DEVELOPMENT CORP Charity Report

Public IRS 990 nonprofit record

GRANITE STATE ECONOMIC DEVELOPMENT CORP

EIN 02-0385121 · Homeowners & Tenants Associations (L50)

What they do

to CREATE ECONOMIC DEVELOPMENT BY ASSISTING BUSINESSES to ACQUIRE SBA 504 FINANCING to EXPAND THEIR BUSINESSES BY ACQUIRING, RENOVATING or CONSTRUCTING REAL ESTATE AND/OR ACQUIRING MACHINERY & EQUIPMENT. THE EXPANDED BUSINESSES LEAD to THE CREATION AND/OR RETENTION of JOBS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $88.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders27 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

72.38%of revenue went to mission work88.4% of expenses · Program services

$81.88spent for every $100 of revenueRevenue covered expenses this year.

9.50%of revenue went to management and office costs11.6% of expenses

$3.02in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $576,514 for STEVE ALDRICH (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$11,225,736

Mission workProgram services$8,125,05272.38% of revenue88.4% of expenses

ManagementOffice and general costs$1,066,7909.50% of revenue11.6% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$2,033,89418.12% of revenueShown in gray on the chart

Total expenses$9,191,84281.88% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 88.4% mission · 11.6% management · 0.0% fundraisingTotal expenses: 81.88% of revenue

2023Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 77.84% of revenue

2022Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 81.90% of revenue

2021Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 89.02% of revenue

2020Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 94.90% of revenue

2019Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 96.89% of revenue

2018Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 95.82% of revenue

2017Expense mix: 88.0% mission · 12.0% management · 0.0% fundraisingTotal expenses: 91.91% of revenue

Money in and money out

Revenue$11,225,736

Expenses$9,191,842

Annual surplus $2,033,894 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$8,125,052 · 88.4% of expenses

Management and office costs$1,066,790 · 11.6% of expenses

See all reported dollar amounts

Revenue$11,225,736

Expenses$9,191,842

Assets$27,804,367

Income$15,517,995

Mission work (program services)$8,125,052

Grants given$1,733,100

Average grant$20,881

Management and general$1,066,790

Stocks and bonds$4,986,379

Accounting fees$47,200

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

STEVE ALDRICHPRESIDENT · 40 hrs/week $576,514Base $481,300 · Other $95,214

FRED PALAZZOLOSENIOR VICE PRESIDENT · 40 hrs/week $525,072Base $436,475 · Other $88,597

SEAN FITZGERALDVICE PRESIDENT · 40 hrs/week $408,052Base $310,400 · Other $97,652

PAUL COLLINSVICE PRESIDENT · 40 hrs/week $378,864Base $290,000 · Other $88,864

PAM BAILEYVICE PRESIDENT · 40 hrs/week $310,982Base $250,200 · Other $60,782

ROBIN LAPOINTEVICE PRESIDENT · 40 hrs/week $292,222Base $237,500 · Other $54,722

MATTHEW COLLINSVICE PRESIDENT · 40 hrs/week $280,055Base $229,275 · Other $50,780

BARBARA ARENAVICE PRESIDENT · 40 hrs/week $270,239Base $208,850 · Other $61,389

CARISSA MURRAYVICE PRESIDENT · 40 hrs/week $258,253Base $200,500 · Other $57,753

TRACY GAYLORDVICE PRESIDENT · 40 hrs/week $256,450Base $215,550 · Other $40,900

ETHAN SWAINVICE PRESIDENT · 40 hrs/week $256,197Base $197,282 · Other $58,915

LISA MOUSSEAUKEY EMPLOYEE · 40 hrs/week $252,755Base $196,800 · Other $55,955

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (27)

STEVE ALDRICHPRESIDENT

FRED PALAZZOLOSENIOR VICE PRESIDENT

SEAN FITZGERALDVICE PRESIDENT

PAUL COLLINSVICE PRESIDENT

PAM BAILEYVICE PRESIDENT

ROBIN LAPOINTEVICE PRESIDENT

MATTHEW COLLINSVICE PRESIDENT

BARBARA ARENAVICE PRESIDENT

CARISSA MURRAYVICE PRESIDENT

TRACY GAYLORDVICE PRESIDENT

ETHAN SWAINVICE PRESIDENT

LISA MOUSSEAUKEY EMPLOYEE

ASHLEY MCCARTHYEMPLOYEE

PIERRE DURANDEMPLOYEE

JACLYN ST ONGEEMPLOYEE

CATHY PICARDOEMPLOYEE

SCOTT GARDINERFORMER EMPLOYEE

ALAN ABRAHAMFORMER EMPLOYEE

BRANDT ABRAHAMEMPLOYEE

JEFF ANGERSDIRECTOR

MARY DRISCOLLDIRECTOR

NANCY CARMERDIRECTOR

DAVID GOMPERSDIRECTOR

PAUL BERGERONDIRECTOR

CAROLYN CLOUTIERDIRECTOR

BIRGIT CHRISTIANSENDIRECTOR

WILLIAM POWERSDIRECTOR

About this charity

Recognized since: January 1989
Location: ONE CATE ST 3RD FLOOR, PORTSMOUTH, NH 03801-7108
County: Rockingham
In care of: % STEVE ALDRICH
Primary officer: STEVE ALDRICH, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(603) 436-0009

Filing and classification

Latest tax year: 2024
Tax period began: October 1, 2024
Return type: 990
Tax preparer: CINDY COURTNEY CPA CFP PLLC
NTEE classification: Homeowners & Tenants Associations (L50)
IRS tax category: Homeowners & Tenants Associations
Grant-giving organization: Yes

GRANITE STATE ECONOMIC DEVELOPMENT CORP

GRANITE STATE ECONOMIC DEVELOPMENT CORP

What they do

Should I give to this charity?

Basic facts we verified

Money made simple

Ask these three easy questions

Financial picture

How each $100 of revenue was used

Has the pattern changed?

Money in and money out

Reported spending amounts

Leadership and board

People reported as paid

About this charity

How to reach them

Filing and classification

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