Civic Intelligence

Rockville Economic Development Inc

EIN 52-2056731 • 501(c)3 • Rockville, MD

Profile

Assure the city of rockville's economic vitality by providing knowledge, access, resources and direction to companies at all stages of growth. Redi helps businesses to launch, locate and expand in the city.

51 Monroe Street Pe-20Rockville, MD 20850

www.rockvilleredi.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

80th percentile

0.42x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

77th percentile

0.37x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

40th percentile

0.5%

Higher net margin than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

90th percentile

$208,154

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

50th percentile

3.6%

Faster asset growth than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

56th percentile

11%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$1,951,429

Up $68,500 (+3.6%) from 2024

Liabilities

Up

$810,277

Up $58,133 (+7.7%) from 2024

Net Assets

Up

$1,141,152

Up $10,367 (+0.9%) from 2024

Revenue

Up

$2,212,860

Up $218,792 (+11%) from 2024

Expenses

Down

$2,202,493

Down $9,714 (-0.4%) from 2024

Net Income

Up

$10,367

Up $228,506 (+105%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $530,690Liabilities 2011: $517Net Assets 2011: $530,1732011Assets 2012: $588,883Liabilities 2012: $25,502Net Assets 2012: $563,3812012Assets 2013: $606,808Liabilities 2013: $5,311Net Assets 2013: $601,4972013Assets 2014: $688,466Liabilities 2014: $68,034Net Assets 2014: $620,4322014Assets 2015: $785,215Liabilities 2015: $96,966Net Assets 2015: $688,2492015Assets 2016: $611,373Liabilities 2016: $83,062Net Assets 2016: $528,3112016Assets 2017: $719,964Liabilities 2017: $68,843Net Assets 2017: $651,1212017Assets 2018: $730,528Liabilities 2018: $48,475Net Assets 2018: $682,0532018Assets 2019: $768,603Liabilities 2019: $40,083Net Assets 2019: $728,5202019Assets 2020: $980,214Liabilities 2020: $125,779Net Assets 2020: $854,4352020Assets 2021: $1,358,692Liabilities 2021: $301,352Net Assets 2021: $1,057,3402021Assets 2022: $1,644,147Liabilities 2022: $444,637Net Assets 2022: $1,199,5102022Assets 2023: $2,358,526Liabilities 2023: $1,009,602Net Assets 2023: $1,348,9242023Assets 2024: $1,882,929Liabilities 2024: $752,144Net Assets 2024: $1,130,7852024Assets 2025: $1,951,429Liabilities 2025: $810,277Net Assets 2025: $1,141,1522025

Highlighted filing

2025

Assets$1,951,429
Liabilities$810,277
Net Assets$1,141,152

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $774,667Expenses 2011: $692,337Net Income 2011: $82,3302011Revenue 2012: $1,250,698Expenses 2012: $1,217,490Net Income 2012: $33,2082012Revenue 2013: $808,640Expenses 2013: $770,524Net Income 2013: $38,1162013Revenue 2014: $907,713Expenses 2014: $888,778Net Income 2014: $18,9352014Revenue 2015: $982,720Expenses 2015: $907,993Net Income 2015: $74,7272015Revenue 2016: $895,454Expenses 2016: $1,055,393Net Income 2016: -$159,9392016Revenue 2017: $1,250,963Expenses 2017: $1,128,154Net Income 2017: $122,8092017Revenue 2018: $1,098,043Expenses 2018: $1,067,111Net Income 2018: $30,9322018Revenue 2019: $1,543,236Expenses 2019: $1,451,077Net Income 2019: $92,1592019Revenue 2020: $1,614,016Expenses 2020: $1,488,101Net Income 2020: $125,9152020Revenue 2021: $1,951,049Expenses 2021: $1,748,144Net Income 2021: $202,9052021Revenue 2022: $2,488,151Expenses 2022: $2,026,342Net Income 2022: $461,8092022Revenue 2023: $2,382,137Expenses 2023: $2,232,723Net Income 2023: $149,4142023Revenue 2024: $1,994,068Expenses 2024: $2,212,207Net Income 2024: -$218,1392024Revenue 2025: $2,212,860Expenses 2025: $2,202,493Net Income 2025: $10,3672025

Highlighted filing

2025

Revenue$2,212,860
Expenses$2,202,493
Net Income$10,367

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.95$0.81$1.14$2.21$2.20$0.01
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.88$0.75$1.13$1.99$2.21$0.22
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.36$1.01$1.35$2.38$2.23$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.64$0.44$1.20$2.49$2.03$0.46
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.30$1.06$1.95$1.75$0.20
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.13$0.85$1.61$1.49$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.77$0.04$0.73$1.54$1.45$0.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.05$0.68$1.10$1.07$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.07$0.65$1.25$1.13$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.08$0.53$0.90$1.06$0.16
2015Summary only. Only limited summary data is available for this year.$0.79$0.10$0.69$0.98$0.91$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.07$0.62$0.91$0.89$0.02
2013Summary only. Only limited summary data is available for this year.$0.61$0.01$0.60$0.81$0.77$0.04
2012Summary only. Only limited summary data is available for this year.$0.59$0.03$0.56$1.25$1.22$0.03
2011Summary only. Only limited summary data is available for this year.$0.53$0.00$0.53$0.77$0.69$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 2, 2026
Return Version
2024v5.5
Gross Receipts
$2,212,860
Mission and Program Overview

Mission

Assure the city of rockville's economic vitality by providing knowledge, access, resources and direction to companies at all stages of growth. Redi helps businesses to launch, locate and expand in the city.

To identify and develop economic opportunities to help rockville prosper.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,035,018$1,202,757▲ $167,739
Accounts Receivable$30,462$280,593▲ $250,131
Cash and Non-Interest-Bearing Accounts$250,143$177,907▼ $72,236
Pledges and Grants Receivable$169,900$0▼ $169,900
Intangible Assets$38,463$29,457▼ $9,006
Prepaid Expenses and Deferred Charges$9,448$9,082▼ $366
Land, Buildings, and Equipment, Net$2,199$732▼ $1,467
Total Assets$1,882,929$1,951,429▲ $68,500
Other Assets Total$347,296$250,901▼ $96,395
Liabilities
Other Liabilities$633,873$661,139▲ $27,266
Accounts Payable and Accrued Expenses$118,271$149,138▲ $30,867
Total Liabilities$752,144$810,277▲ $58,133
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$930,288$940,655▲ $10,367
Net Assets With Donor Restrictions$200,497$200,497→ $0
Total Net Assets Fund Balance$1,130,785$1,141,152▲ $10,367
Total Liabilities and Net Assets / Fund Balance$1,882,929$1,951,429▲ $68,500

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$50,974$50,974
Equipment$732$13,119$13,851
Other Land Buildings$0$6,730$6,730
Other Assets Org$7,387--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cynthia RivardeChief Executive OfficerFT$195,389$12,765$208,154
Richelle WilsonDeputy DirectorFT$120,617$3,677$124,294
Danette Nguyen Until 122024Mwbc Managing DirectorFT$116,389$1,759$118,148

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Devan ConsultingAccounting Services160 HILLSIDE DRIVE, Swannanoa, NC 28778$102,840
Revenue and Support

Revenue Composition

Contributions and Grants
$2,109,898
Program Service Revenue
$88,813
Investment Income
$11,785
Other Revenue
$2,364
Change in Net Assets
$10,367

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,212,860
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$17,616
Total Revenue per Audited Statements
$2,230,476
Total Revenue per Form 990
$2,212,860
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,092,526
Other Expenses$891,149
Grants and Similar Amounts Paid$218,818
Total Fundraising Expense$500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$689,507$18,700-$708,207
Grants to Domestic Orgs$218,818--$218,818
Current Officers, Directors, Trustees, and Key Employees$185,146$27,666-$212,812
Fees for Services Other$130,370$67,277-$197,647
Advertising$134,544--$134,544
Occupancy$119,158$4,458-$123,616
Fees for Services Accounting-$121,340-$121,340
Office Expenses$71,681$28,257-$99,938
Other Employee Benefits$73,820$5,467-$79,287
Payroll Taxes$67,925$2,254-$70,179
Travel$28,393$3,750-$32,143
Pension Plan Contributions$19,176$2,865-$22,041
Depreciation Depletion$16,716$886-$17,602
Information Technology$12,469$2,183-$14,652
Insurance$7,781$286-$8,067
Fees for Services Legal$4,834$722-$5,556
Other Expenses$557$2,798$500$557
Total Functional Expenses$1,912,915$289,078$500$2,202,493

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,220,109
Expenses per Audited Statements$2,202,493
Total Expenses per Form 990$2,202,493
Expenses Not Reported on Form 990$17,616
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Podville MediaRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$40,000
Montgomery County Green Bank CorporationRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$25,520
The Tot SpaceRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$15,440
Next Level Rentals & RealtyRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$15,000
The Center for Rheumatic DiseasesRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$13,600
Julian Sisman Dba Prepare for PerformanceRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$12,500
Gowda Informatics Automation and Technologies LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$9,548
The Donaldson Group LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,548
Decipher Events LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,500
Nature by TrejokRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,500
Unlimited DetailingRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,500
Walking Liberty LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,500
Wani Designs LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$7,500
Flood Law LLCRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$5,640
Lady VinterRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$5,500
Gapbuster IncRockville, MD-Impact Program Payment for Small Business Impact Program That Redi Oversees.$5,220
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$359,586
Lease Liability-operating$294,128
Lease Liability-finance$7,425
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Board members consist of business owners and other professionals in the city of rockville, so business relationships between them may exist.

Form 990, Part VI, Section A, Line 6

Redi has one member, the mayor and council of the city of rockville, md.

Form 990, Part VI, Section A, Line 7A

The member of redi appoints the directors annually.

Form 990, Part VI, Section B, Line 11B

Redi's 990 is prepared by an independent accounting firm and reviewed by the executive director prior to filing with the irs. It was also made available to the board before filing.

Form 990, Part VI, Section B, Line 12C

Board members and staff sign an acknowledgement of the conflict of interest policy annually.

Form 990, Part VI, Section B, Line 15A

The executive director salary is benchmarked against city of rockville salary adjustments and is subject to review and approval by the finance committee.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Rockville Economic Development Inc
EIN
52-2056731
Phone
3013158096
Address
51 MONROE STREET PE-20, ROCKVILLE, MD 20850

Signing Officer

Name
Cynthia Rivarde
Title
Chief Executive Officer
Phone
3013158096
Signed
2026-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Rivarde
Formed
1997
Legal Domicile
Md
Voting Board Members
23
Independent Board Members
23
Employees
12
Volunteers
23

Preparer

Firm
Snyder Cohn Pc
Address
11200 ROCKVILLE PIKE SUITE 415, NORTH BETHESDA, MD 20852
Preparer
Keith Jennings
Phone
3016526700
Supplemental Narrative

Additional Explanations

PART XII, LINE 2C:

The organization has an audit committee that assumes responsibility for the oversight of the audit of its financial statements, as well as the selection of an independent accountant.

Financial Statement Notes

PART X, LINE 2:

Redi accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax effect is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for uncertain tax positions. Interest and penalties, if any, are accrued as a component of general and administrative expenses when assessed. Redi has identified its tax status as a tax exempt entity under section 501(c)(3) and its determination that it has no unrelated business income as tax positions; however, the organization has determined that such tax positions do not result in an uncertainty requiring recognition. Income tax years ended prior to june 30, 2022 are no longer subject to audit by taxing authorities.

Raw XML AppendixShowing 400 of 790 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0149138
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IRS990/AccountsReceivableGrp/EOYAmt0280593
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO IDENTIFY AND DEVELOP ECONOMIC OPPORTUNITIES TO HELP ROCKVILLE PROSPER.
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IRS990/AdvertisingGrp/TotalAmt0134544
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IRS990/Desc0ECONOMIC DEVELOPMENT ACTIVITIES INCLUDING BUSINESS RECRUITMENT, DEVELOPMENT AND BUSINESS RETENTION. REDI ALSO MANAGES INCENTIVE PROGRAMS TO ENCOURAGE NEW BUSINESS LOCATIONS & EXISTING BUSINESS EXPANSIONS IN THE CITY OF ROCKVILLE.
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IRS990/Form990PartVIISectionAGrp/PersonNm2BEI MA
IRS990/Form990PartVIISectionAGrp/PersonNm3TODD PEARSON
IRS990/Form990PartVIISectionAGrp/PersonNm4NIKHIL BIJLANI
IRS990/Form990PartVIISectionAGrp/PersonNm5SUZANNE OSBORN
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IRS990/Form990PartVIISectionAGrp/PersonNm7RICHARD ALVAREZ
IRS990/Form990PartVIISectionAGrp/PersonNm8BRIDGET NEWTON UNITL NOV 2023
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IRS990/Form990PartVIISectionAGrp/TitleTxt0IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19LIAISON
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23LIAISON
IRS990/Form990PartVIISectionAGrp/TitleTxt24CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt25DEPUTY DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26MWBC MANAGING DIRECTOR
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