Civic Intelligence

Maryland Economic Development Association Inc (Meda)

990 • Fiscal year 2022 • EIN 52-2242009

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 10, 2023

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

62nd percentile

0.03x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.05x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

68th percentile

12%

Higher net margin than 68% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

59th percentile

5.0%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

47th percentile

8.1%

Faster revenue growth than 47% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$448,117

Up $21,426 (+5.0%) from 2021

Net Assets

Up

$434,666

Up $14,615 (+3.5%) from 2021

Liabilities

Up

$13,451

Up $6,811 (+103%) from 2021

Revenue

Up

$258,416

Up $19,411 (+8.1%) from 2021

Expenses

Up

$228,037

Up $11,583 (+5.4%) from 2021

Net Income

Up

$30,379

Up $7,828 (+35%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$448,117
Liabilities$13,451
Net Assets$434,666

Operations Trend

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

2022

Revenue$258,416
Expenses$228,037
Net Income$30,379
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 10, 2023
Return Version
2022v5.0
Gross Receipts
$258,416
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$240,606$242,826▲ $2,220
Cash and Non-Interest-Bearing Accounts$127,525$136,748▲ $9,223
Savings and Temporary Cash Investments$50,492$50,508▲ $16
Accounts Receivable$375$13,055▲ $12,680
Land, Buildings, and Equipment, Net$7,693$4,705▼ $2,988
Prepaid Expenses and Deferred Charges-$275-
Total Assets$426,691$448,117▲ $21,426
Liabilities
Accounts Payable and Accrued Expenses$5,040$10,851▲ $5,811
Deferred Revenue$1,600$2,600▲ $1,000
Total Liabilities$6,640$13,451▲ $6,811
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$420,051$434,666▲ $14,615
Total Net Assets Fund Balance$420,051$434,666▲ $14,615
Total Liabilities and Net Assets / Fund Balance$426,691$448,117▲ $21,426

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,405$23,941$28,346
Equipment$300$3,391$3,691
Compensation and Service Providers

Board Members and Trustees

NameTitle
Daniel ThompsonPresident
Allison AkersDirector
Amy VelichDirector
Andrea MansfieldDirector
Dawn MedleyDirector
Denise BeaverDirector
Ebony StocksDirector
Jamie WilliamsDirector
Jerry SanfordDirector
John StalfortDirector
Kelly SlagleDirector
Lori ValentineDirector
N Gordon KnoxDirector
Trish HeidenreichDirector
Laurie Boyer BabbPast Preside
Tammi ThomasSecretary
Renee WinskyTreasurer
Richard GriffinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$48,800
Program Service Revenue
$209,600
Investment Income
$16
Other Revenue
$0
Change in Net Assets
$30,379
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$171,954
Other Expenses$56,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$143,548$15,950-$159,498
Fees for Services Other$11,248$3,749-$14,997
Payroll Taxes$11,210$1,246-$12,456
Information Technology$8,002$2,001-$10,003
Fees for Services Accounting$2,485$1,065-$3,550
Depreciation Depletion$2,689$299-$2,988
Insurance$2,677$298-$2,975
Office Expenses$1,580$395-$1,975
Other Expenses$1,291$144-$1,435
Travel$490$123-$613
Conferences and Meetings$517$58-$575
Total Functional Expenses$201,996$26,041$0$228,037
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 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
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
Renee Winsky
Title
Treasurer
Phone
4103471246
Signed
2023-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Thompson
Formed
1999
Legal Domicile
Md
Voting Board Members
18
Independent Board Members
18
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/OtherExpensesGrp/ProgramServicesAmt21291
IRS990/OtherExpensesGrp/TotalAmt013408
IRS990/OtherExpensesGrp/TotalAmt13564
IRS990/OtherExpensesGrp/TotalAmt21435
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt015950
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0143548
IRS990/OtherSalariesAndWagesGrp/TotalAmt0159498
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0240606
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0242826
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01246
IRS990/PayrollTaxesGrp/ProgramServicesAmt011210
IRS990/PayrollTaxesGrp/TotalAmt012456
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0275
IRS990/PrincipalOfficerNm0DANIEL THOMPSON
IRS990/PriorPeriodAdjustmentsAmt0-15764
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0209600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0209600
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/PYContributionsGrantsAmt049995
IRS990/PYInvestmentIncomeAmt010
IRS990/PYOtherExpensesAmt050433
IRS990/PYProgramServiceRevenueAmt0189000
IRS990/PYRevenuesLessExpensesAmt022551
IRS990/PYSalariesCompEmpBnftPaidAmt0166021
IRS990/PYTotalExpensesAmt0216454
IRS990/PYTotalRevenueAmt0239005
IRS990/ReconcilationRevenueExpnssAmt030379
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0209600
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050492
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050508
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0300
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03391
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03691
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04405
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023941
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028346
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04705
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0426691
IRS990/TotalAssetsEOYAmt0448117
IRS990/TotalAssetsGrp/BOYAmt0426691
IRS990/TotalAssetsGrp/EOYAmt0448117
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt048800
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026041
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0201996
IRS990/TotalFunctionalExpensesGrp/TotalAmt0228037
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06640
IRS990/TotalLiabilitiesEOYAmt013451
IRS990/TotalLiabilitiesGrp/BOYAmt06640
IRS990/TotalLiabilitiesGrp/EOYAmt013451
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0420051
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0434666
IRS990/TotalProgramServiceExpensesAmt0201996
IRS990/TotalProgramServiceRevenueAmt0209600
IRS990/TotalRevenueGrp/ExclusionAmt016
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0209600
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0258416
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0426691
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0448117
IRS990/TravelGrp/ManagementAndGeneralAmt0123
IRS990/TravelGrp/ProgramServicesAmt0490
IRS990/TravelGrp/TotalAmt0613
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0WWW.MEDAMD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RENEE WINSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04103471246
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-10
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02023-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LYNNE E CHAPUT CPA
ReturnHeader/ReturnTs02023-05-15T22:57:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEPHEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PRIMOSCH
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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