Civic Intelligence

Maryland Economic Development Association Inc (Meda)

990 • Fiscal year 2023 • EIN 52-2242009

Jan 01, 2023 to Dec 31, 2023 • Filed on Mar 08, 2024

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

56th percentile

0.01x

Higher debt load relative to assets than 56% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.02x

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

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

75th percentile

14%

Higher net margin than 75% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

59th percentile

5.1%

Faster asset growth than 59% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

53rd percentile

7.7%

Faster revenue growth than 53% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$470,929

Up $22,812 (+5.1%) from 2022

Net Assets

Up

$464,287

Up $29,621 (+6.8%) from 2022

Liabilities

Down

$6,642

Down $6,809 (-51%) from 2022

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin75th percentile

Revenue

Up

$278,201

Up $19,785 (+7.7%) from 2022

Expenses

Up

$239,037

Up $11,000 (+4.8%) from 2022

Net Income

Up

$39,164

Up $8,785 (+29%) from 2022

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

2023

Assets$470,929
Liabilities$6,642
Net Assets$464,287
Open 2023 Filing

Operations Trend

Revenue Growth53rd 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

2023

Revenue$278,201
Expenses$239,037
Net Income$39,164
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 8, 2024
Return Version
2023v5.0
Gross Receipts
$278,201
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
Savings and Temporary Cash Investments$50,508$300,558▲ $250,050
Other Notes and Loans Receivable, Net$242,826--
Cash and Non-Interest-Bearing Accounts$136,748$142,561▲ $5,813
Accounts Receivable$13,055$24,189▲ $11,134
Land, Buildings, and Equipment, Net$4,705$3,582▼ $1,123
Prepaid Expenses and Deferred Charges$275$39▼ $236
Total Assets$448,117$470,929▲ $22,812
Liabilities
Accounts Payable and Accrued Expenses$10,851$4,242▼ $6,609
Deferred Revenue$2,600$2,400▼ $200
Total Liabilities$13,451$6,642▼ $6,809
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$434,666$464,287▲ $29,621
Total Net Assets Fund Balance$434,666$464,287▲ $29,621
Total Liabilities and Net Assets / Fund Balance$448,117$470,929▲ $22,812

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,282$25,064$28,346
Equipment$300$3,391$3,691
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Richard GriffinPresident
Allison AkersDirector
Amy VelichDirector
Andrea MansfieldDirector
Dawn MedleyDirector
Denise BeaverDirector
Ebony StocksDirector
Jerry SanfordDirector
John StalfortDirector
Lara FrittsDirector
Lori RatzburgDirector
Lori ValentineDirector
N Gordon KnoxDirector
Rosa CruzDirector
Trish HeidenreichDirector
Daniel ThompsonPast Preside
Kelly Robertson-slagleSecretary
Renee WinskyTreasurer
Tammi ThomasVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$57,050
Program Service Revenue
$221,100
Investment Income
$51
Other Revenue
$0
Change in Net Assets
$39,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$177,912
Other Expenses$61,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$148,530$16,503-$165,033
Fees for Services Other$12,674$4,225-$16,899
Payroll Taxes$11,591$1,288-$12,879
Information Technology$6,461$1,615-$8,076
Fees for Services Accounting$2,527$1,083-$3,610
Office Expenses$2,858$715-$3,573
Insurance$2,758$306-$3,064
Depreciation Depletion$1,011$112-$1,123
Travel$865$216-$1,081
Other Expenses$540$161-$540
All Other Expenses$367$92-$459
Total Functional Expenses$208,504$30,533$0$239,037
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
2024-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Griffin
Formed
1999
Legal Domicile
Md
Voting Board Members
19
Independent Board Members
19
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/TotalAmt21614
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0148530
IRS990/OtherSalariesAndWagesGrp/TotalAmt0165033
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01288
IRS990/PayrollTaxesGrp/ProgramServicesAmt011591
IRS990/PayrollTaxesGrp/TotalAmt012879
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0275
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt039
IRS990/PrincipalOfficerNm0RICHARD GRIFFIN
IRS990/PriorPeriodAdjustmentsAmt0-9543
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0221100
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.
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IRS990/PYInvestmentIncomeAmt016
IRS990/PYOtherExpensesAmt056083
IRS990/PYProgramServiceRevenueAmt0209600
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IRS990/PYSalariesCompEmpBnftPaidAmt0171954
IRS990/PYTotalExpensesAmt0228037
IRS990/PYTotalRevenueAmt0258416
IRS990/ReconcilationRevenueExpnssAmt039164
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IRS990/RelatedEntityInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt03391
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt025064
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028346
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03582
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt057050
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0208504
IRS990/TotalFunctionalExpensesGrp/TotalAmt0239037
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0278201
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0448117
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0470929
IRS990/TravelGrp/ManagementAndGeneralAmt0216
IRS990/TravelGrp/ProgramServicesAmt0865
IRS990/TravelGrp/TotalAmt01081
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt019
IRS990/VotingMembersIndependentCnt019
IRS990/WebsiteAddressTxt0WWW.MEDAMD.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RENEE WINSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04103471246
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-08
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/IRSResponsiblePrtyInfoCurrInd0true
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

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$470,929
Liabilities
$6,642
Net assets
$464,287
Revenue
$278,201
Expenses
$239,037
Net income
$39,164
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
Peer Organizations

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