Civic Intelligence

Maryland Economic Development Association Inc (Meda)

990 • Fiscal year 2014 • EIN 52-2242009

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 08, 2015

Organization ProfileWWW.MEDAMD.COM
PO Box 27039Baltimore, MD 21230

(410) 347-1246

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.04x

Higher debt load relative to assets than 64% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

74th percentile

0.07x

Higher debt load relative to revenue than 74% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Net Margin

81st percentile

18%

Higher net margin than 81% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Asset Growth

59th percentile

7.8%

Faster asset growth than 59% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

44th percentile

-0.6%

Faster revenue growth than 44% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$324,146

Up $23,321 (+7.8%) from 2013

Net Assets

Up

$312,586

Up $30,351 (+11%) from 2013

Liabilities

Down

$11,560

Down $7,030 (-38%) from 2013

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin81st percentile

Revenue

Down

$173,283

Down $1,097 (-0.6%) from 2013

Expenses

Down

$142,932

Down $6,304 (-4.2%) from 2013

Net Income

Up

$30,351

Up $5,207 (+21%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2010: $312,638Liabilities 2010: $22,274Net Assets 2010: $290,3642010Assets 2011: $261,559Liabilities 2011: $8,706Net Assets 2011: $252,8532011Assets 2012: $281,296Liabilities 2012: $24,205Net Assets 2012: $257,0912012Assets 2013: $300,825Liabilities 2013: $18,590Net Assets 2013: $282,2352013Assets 2014: $324,146Liabilities 2014: $11,560Net Assets 2014: $312,5862014Assets 2015: $330,058Liabilities 2015: $10,206Net Assets 2015: $319,8522015Assets 2016: $332,265Liabilities 2016: $11,930Net Assets 2016: $320,3352016Assets 2017: $335,400Liabilities 2017: $11,936Net Assets 2017: $323,4642017Assets 2018: $355,094Liabilities 2018: $26,292Net Assets 2018: $328,8022018Assets 2019: $382,681Liabilities 2019: $9,282Net Assets 2019: $373,3992019Assets 2020: $404,442Liabilities 2020: $6,942Net Assets 2020: $397,5002020Assets 2021: $426,691Liabilities 2021: $6,640Net Assets 2021: $420,0512021Assets 2022: $448,117Liabilities 2022: $13,451Net Assets 2022: $434,6662022Assets 2023: $470,929Liabilities 2023: $6,642Net Assets 2023: $464,2872023Assets 2024: $431,599Liabilities 2024: $9,975Net Assets 2024: $421,6242024

Highlighted filing

2014

Assets$324,146
Liabilities$11,560
Net Assets$312,586
Open 2014 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0Expenses 2010: $122,5432010Expenses 2011: $130,4402011Expenses 2012: $153,7352012Revenue 2013: $174,380Expenses 2013: $149,236Net Income 2013: $25,1442013Revenue 2014: $173,283Expenses 2014: $142,932Net Income 2014: $30,3512014Revenue 2015: $162,125Expenses 2015: $154,859Net Income 2015: $7,2662015Revenue 2016: $177,065Expenses 2016: $164,352Net Income 2016: $12,7132016Revenue 2017: $191,315Expenses 2017: $171,747Net Income 2017: $19,5682017Revenue 2018: $198,682Expenses 2018: $193,344Net Income 2018: $5,3382018Revenue 2019: $218,290Expenses 2019: $173,693Net Income 2019: $44,5972019Revenue 2020: $208,985Expenses 2020: $184,884Net Income 2020: $24,1012020Revenue 2021: $239,005Expenses 2021: $216,454Net Income 2021: $22,5512021Revenue 2022: $258,416Expenses 2022: $228,037Net Income 2022: $30,3792022Revenue 2023: $278,201Expenses 2023: $239,037Net Income 2023: $39,1642023Revenue 2024: $300,763Expenses 2024: $289,821Net Income 2024: $10,9422024

Highlighted filing

2014

Revenue$173,283
Expenses$142,932
Net Income$30,351
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 8, 2015
Return Version
2014v5.0
Gross Receipts
$173,283
Mission and Program Overview

Mission

A statewide organization of economic development professionals who promote economic well-being in maryland by working to improve the business climate and professionalism in the field of econ developmt.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$156,795$188,320▲ $31,525
Savings and Temporary Cash Investments$65,509$65,235▼ $274
Cash and Non-Interest-Bearing Accounts$56,665$48,695▼ $7,970
Land, Buildings, and Equipment, Net$19,031$16,334▼ $2,697
Prepaid Expenses and Deferred Charges$2,750$2,750→ $0
Accounts Receivable$75$2,000▲ $1,925
Pledges and Grants Receivable-$812-
Total Assets$300,825$324,146▲ $23,321
Liabilities
Accounts Payable and Accrued Expenses$15,090$9,760▼ $5,330
Deferred Revenue$3,500$1,800▼ $1,700
Total Liabilities$18,590$11,560▼ $7,030
Net Assets / Fund Balance
Unrestricted Net Assets$282,235$312,586▲ $30,351
Total Net Assets Fund Balance$282,235$312,586▲ $30,351
Total Liabilities and Net Assets / Fund Balance$300,825$324,146▲ $23,321

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$16,187$6,393$22,580
Equipment$147$2,050$2,197
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Robert BrennanPresident
Brian DarmodyDirector
Daniel ThompsonDirector
Heather GrammDirector
James RichardsonDirector
John DevineDirector
John WasilisinDirector
Lara FrittsDirector
Paige BethkeDirector
Renee WinskyDirector
Rhonda RayDirector
Sean Looney-
Laurie BoyerPast Preside
Keasha HaytheSecretary
Kimberly ClarkTreasurer
Larry TweleVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$56,532
Program Service Revenue
$116,675
Investment Income
$76
Other Revenue
$0
All Other Contributions
$6,282
Change in Net Assets
$30,351
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$107,009
Other Expenses$35,923
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,072$9,786-$97,858
Payroll Taxes$8,236$915-$9,151
Travel$2,646$661-$3,307
Information Technology$2,328$582-$2,910
Depreciation Depletion$2,482$215-$2,697
Insurance$2,328$259-$2,587
Fees for Services Accounting$1,641$704-$2,345
Office Expenses$1,125$281-$1,406
Other Expenses$835$646-$835
Total Functional Expenses$128,425$14,507$0$142,932
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Election of officers is subject to the approval of membership.”

Form 990, Page 6, Part VI, Line 7B

“All bylaw changes are subject to the approval of the membership.”

Form 990, Page 6, Part VI, Line 11B

“Treasurer/financial officer review form 990 with board of directors.”

Form 990, Page 6, Part VI, Line 15A

“The executive committee reviews and approves the compensation of the executive director on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“The governing documents and financial statements are available upon request at the organization's office.”

Filing and Contact Details

Filer

Filer Name
Maryland Economic Development
EIN
52-2242009
Phone
4103471246
Address
PO BOX 27039, BALTIMORE, MD 21230

Signing Officer

Name
Sean Looney
Title
Treasurer
Phone
4103471246
Signed
2015-06-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Twele
Formed
1999
Legal Domicile
Md
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
20

Preparer

Firm
P C Financial Services LLC
Address
P O BOX 1003, MILLERSVILLE, MD 21108
Preparer
Lynne E Chaput CPA
Phone
4107290618
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers assist with conferences, activities, committees and board positions.”

Form 990, Page 2, Part III, Line 4D

“Opportunities for members to develop partnerships and networking to promote economic growth in the state of maryland through local planning, workforce, transportation, international trade, tourism and finance.”

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IRS990/OtherSalariesAndWagesGrp/TotalAmt097858
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0156795
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0188320
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0915
IRS990/PayrollTaxesGrp/ProgramServicesAmt08236
IRS990/PayrollTaxesGrp/TotalAmt09151
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0812
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02750
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02750
IRS990/PrincipalOfficerNm0LARRY TWELE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0116675
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0116675
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OPPORTUNITIES FOR MEMBERS TO DEVELOP PARTNERSHIPS AND NETWORKING TO PROMOTE ECONOMIC GROWTH IN THE STATE OF MARYLAND THROUGH LOCAL PLANNING, WORKFORCE, TRANSPORTATION, INTERNATIONAL TRADE, TOURISM AND FINANCE.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt067677
IRS990/PYInvestmentIncomeAmt0103
IRS990/PYOtherExpensesAmt045446
IRS990/PYProgramServiceRevenueAmt0106600
IRS990/PYRevenuesLessExpensesAmt025144
IRS990/PYSalariesCompEmpBnftPaidAmt0103790
IRS990/PYTotalExpensesAmt0149236
IRS990/PYTotalRevenueAmt0174380
IRS990/ReconcilationRevenueExpnssAmt030351
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0116675
IRS990/SavingsAndTempCashInvstGrp/BOYAmt065509
IRS990/SavingsAndTempCashInvstGrp/EOYAmt065235
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0147
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02050
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02197
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016187
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06393
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt022580
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016334
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ASSIST WITH CONFERENCES, ACTIVITIES, COMMITTEES AND BOARD POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OPPORTUNITIES FOR MEMBERS TO DEVELOP PARTNERSHIPS AND NETWORKING TO PROMOTE ECONOMIC GROWTH IN THE STATE OF MARYLAND THROUGH LOCAL PLANNING, WORKFORCE, TRANSPORTATION, INTERNATIONAL TRADE, TOURISM AND FINANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTION OF OFFICERS IS SUBJECT TO THE APPROVAL OF MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BYLAW CHANGES ARE SUBJECT TO THE APPROVAL OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TREASURER/FINANCIAL OFFICER REVIEW FORM 990 WITH BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0300825
IRS990/TotalAssetsEOYAmt0324146
IRS990/TotalAssetsGrp/BOYAmt0300825
IRS990/TotalAssetsGrp/EOYAmt0324146
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt056532
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014507
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0128425
IRS990/TotalFunctionalExpensesGrp/TotalAmt0142932
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018590
IRS990/TotalLiabilitiesEOYAmt011560
IRS990/TotalLiabilitiesGrp/BOYAmt018590
IRS990/TotalLiabilitiesGrp/EOYAmt011560
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0282235
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0312586
IRS990/TotalProgramServiceExpensesAmt0128425
IRS990/TotalProgramServiceRevenueAmt0116675
IRS990/TotalRevenueGrp/ExclusionAmt076
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0116675
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0173283
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0300825
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0324146
IRS990/TravelGrp/ManagementAndGeneralAmt0661
IRS990/TravelGrp/ProgramServicesAmt02646
IRS990/TravelGrp/TotalAmt03307
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0282235
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0312586
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 27039
IRS990/USAddress/CityNm0BALTIMORE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021230
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.MEDAMD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SEAN LOONEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04103471246
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-06-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARYLAND ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC (MEDA)
ReturnHeader/Filer/BusinessNameControlTxt0MARY
ReturnHeader/Filer/EIN0522242009
ReturnHeader/Filer/PhoneNum04103471246
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 27039
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021230
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0522223052
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0P C FINANCIAL SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 1003
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MILLERSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021108
ReturnHeader/PreparerPersonGrp/PhoneNum04107290618
ReturnHeader/PreparerPersonGrp/PreparationDt02015-06-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LYNNE E CHAPUT CPA
ReturnHeader/ReturnTs02015-07-20T21:29:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$324,146
Liabilities
$11,560
Net assets
$312,586
Revenue
$173,283
Expenses
$142,932
Net income
$30,351
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.32$0.10$4.22$3.01$2.90$0.11
2023Detailed filing. Detailed filing data is available for this year.$4.71$0.07$4.64$2.78$2.39$0.39
2022Detailed filing. Detailed filing data is available for this year.$4.48$0.13$4.35$2.58$2.28$0.30
2021Detailed filing. Detailed filing data is available for this year.$4.27$0.07$4.20$2.39$2.16$0.23
2020Detailed filing. Detailed filing data is available for this year.$4.04$0.07$3.98$2.09$1.85$0.24
2019Detailed filing. Detailed filing data is available for this year.$3.83$0.09$3.73$2.18$1.74$0.45
2018Detailed filing. Detailed filing data is available for this year.$3.55$0.26$3.29$1.99$1.93$0.05
2017Detailed filing. Detailed filing data is available for this year.$3.35$0.12$3.23$1.91$1.72$0.20
2016Detailed filing. Detailed filing data is available for this year.$3.32$0.12$3.20$1.77$1.64$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.30$0.10$3.20$1.62$1.55$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.24$0.12$3.13$1.73$1.43$0.30
2013Detailed filing. Detailed filing data is available for this year.$3.01$0.19$2.82$1.74$1.49$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.24$2.57$1.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.09$2.53$1.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$0.22$2.90$1.23