Civic Intelligence

Montgomery County Economic Development Corporation

990 • Fiscal year 2016 • EIN 81-0717388

Oct 06, 2015 to Jun 30, 2016 • Filed on May 12, 2017

Organization ProfileWWW.THINKMOCO.COM

View Organization Page

1801 Rockville Pike No 320Rockville, MD 20852

(301) 216-3832

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.12x

Higher debt load relative to assets than 63% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

59th percentile

0.07x

Higher debt load relative to revenue than 59% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

93rd percentile

52%

Higher net margin than 93% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets63rd percentile

Assets

$296,985

No earlier filing loaded for comparison.

Net Assets

$262,028

No earlier filing loaded for comparison.

Liabilities

$34,957

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin93rd percentile

Revenue

$500,000

No earlier filing loaded for comparison.

Expenses

$237,972

No earlier filing loaded for comparison.

Net Income

$262,028

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $296,985Liabilities 2016: $34,957Net Assets 2016: $262,0282016Assets 2017: $2,919,164Liabilities 2017: $1,229,354Net Assets 2017: $1,689,8102017Assets 2018: $2,590,515Liabilities 2018: $1,107,784Net Assets 2018: $1,482,7312018Assets 2019: $3,221,806Liabilities 2019: $1,114,524Net Assets 2019: $2,107,2822019Assets 2020: $4,129,581Liabilities 2020: $1,002,038Net Assets 2020: $3,127,5432020Assets 2021: $7,174,281Liabilities 2021: $4,550,580Net Assets 2021: $2,623,7012021Assets 2022: $2,827,028Liabilities 2022: $1,164,608Net Assets 2022: $1,662,4202022Assets 2023: $4,619,671Liabilities 2023: $2,696,606Net Assets 2023: $1,923,0652023

Highlighted filing

2016

Assets$296,985
Liabilities$34,957
Net Assets$262,028
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MRevenue 2016: $500,000Expenses 2016: $237,972Net Income 2016: $262,0282016Revenue 2017: $4,478,475Expenses 2017: $3,050,693Net Income 2017: $1,427,7822017Revenue 2018: $5,030,563Expenses 2018: $5,237,642Net Income 2018: -$207,0792018Revenue 2019: $5,109,698Expenses 2019: $4,485,147Net Income 2019: $624,5512019Revenue 2020: $7,128,842Expenses 2020: $6,108,581Net Income 2020: $1,020,2612020Revenue 2021: $21,976,364Expenses 2021: $22,480,206Net Income 2021: -$503,8422021Revenue 2022: $7,933,113Expenses 2022: $8,894,394Net Income 2022: -$961,2812022Revenue 2023: $7,205,268Expenses 2023: $6,944,623Net Income 2023: $260,6452023

Highlighted filing

2016

Revenue$500,000
Expenses$237,972
Net Income$262,028
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 6, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$500,000
Mission and Program Overview

Mission

Marketing and business development to drive economic growth in montgomery county, maryland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$275,775-
Cash and Non-Interest-Bearing Accounts-$21,210-
Total Assets$0$296,985▲ $296,985
Liabilities
Accounts Payable and Accrued Expenses-$28,991-
Other Liabilities$0$5,966▲ $5,966
Total Liabilities$0$34,957▲ $34,957
Net Assets / Fund Balance
Unrestricted Net Assets-$262,028-
Total Net Assets Fund Balance$0$262,028▲ $262,028
Total Liabilities and Net Assets / Fund Balance$0$296,985▲ $296,985
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Robert BuchananChair, Board of Directors
David PetrPresident and CEO
Robert BrewerVice Chair, Board of Directors
Warren EllisVice President, Marketing
Joyce FuhrmannVice President, Operations and Partnerships
Jacob SeskerVice President, Strategy
Gene SmithEx-officio Member, Board of Directors
Lily QiEx-officio Member, Board of Directors
Michael GillEx-officio Member, Board of Directors
Angela GrahamMember, Board of Directors
Cidalia Luis-akbarMember, Board of Directors
Ellie GilesMember, Board of Directors
James BradyMember, Board of Directors
Ron PaulMember, Board of Directors
S Tien WongMember, Board of Directors
Terry FordeMember, Board of Directors
Ola SageSecretary, Board of Directors
Sanjay RaiTreasurer, Board of Directors
Revenue and Support

Revenue Composition

Contributions and Grants
$500,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$262,028

Audited Revenue Reconciliation

Revenue per Audited Statements
$500,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$21,304
Total Revenue per Audited Statements
$521,304
Total Revenue per Form 990
$500,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$237,972
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising-$40,878-$40,878
All Other Expenses-$7,402-$7,402
Other Expenses-$5,405-$5,405
Office Expenses-$4,756-$4,756
Fees for Services Legal-$3,324-$3,324
Conferences and Meetings-$550-$550
Total Functional Expenses$0$237,972$0$237,972

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$259,276
Expenses per Audited Statements$237,972
Total Expenses per Form 990$237,972
Expenses Not Reported on Form 990$21,304
Expenses Not Reported on Financial Statements$0
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
Accrued Expenses$5,966
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

“The following mcedc board members have a business relationship with each other: - dr. Sanjay rai-treasurer - robert g brewer, jr-vice chair - tien wong-board member - terry forde-board member - ronald paul-board member”

Form 990, Part VI, Section B, Line 11

“The organization informs board members that the return is available upon request.”

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

“Annually, each officer, director and committee member will complete a statement indicating whether they have any conflicts of interest or they or a family member does business with mcedc.”

Form 990, Part VI, Section B, Line 15

“The mcedc board of directors will appoint an independent compensation committee, which will review compensation of the president & ceo and make recommendations to the board of directors. Further, this committee will establish procedures for setting compensation and reviewing performance of all other employees. These procedures will require that no persons with a conflict of interest will be involved in setting their own compensation.”

Form 990, Part VI, Section C, Line 19

“Mcedc's board of directors complies with the state of maryland's open meetings act. All meetings are properly noticed to the public, including a posting of meeting agendas and minutes on mcedc's website.”

Filing and Contact Details

Filer

Filer Name
Montgomery County Economic Development
EIN
81-0717388
Phone
3012163832
Address
1801 ROCKVILLE PIKE NO 320, ROCKVILLE, MD 20852

Signing Officer

Name
Sanjay Rai
Title
President and CEO
Phone
3012163832
Signed
2017-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Petr
Formed
2015
Legal Domicile
Md
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
500 EAST PRATT STREET 4TH FLOOR, BALTIMORE, MD 21202
Preparer
Damien Nickle CPA
Phone
4107834900
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Mcedc is in the process of applying for exemption from federal income tax in accordance with section 501(c)(3) of the irc. While mcedc currently does not have a determination letter from the irs to be treated as a tax exempt entity pursuant to section 501(c)(3) of the irc, management does not believe the organization has engaged in any activities that would be deemed to constitute unrelated business income or prevent the organization from obtaining a qualifying tax exempt status. Accordingly, no provision or benefit for income taxes has been recorded in the accompanying financial statements and the organization has not identified any uncertain tax positions that qualify for recognition or disclosure in notes to the financial statements. Mcedc is required to file tax returns with the irs beginning with its 2016 tax year and, as of june 30, 2016, the organization was in compliance with all irs filing requirements.”

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IRS990/Desc0THE MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION (MCEDC) BRINGS A BIG AND BOLD APPROACH TO ACHIEVING GREATER ECONOMIC COMPETITIVENESS AND PROSPERITY ACROSS MONTGOMERY COUNTY, MD.A NONPROFIT ORGANIZATION WITH A FRESH PUBLIC/PRIVATE PERSPECTIVE, ENTREPRENEURIAL SPIRIT, AND PROACTIVE APPROACH TO ECONOMIC DEVELOPMENT, THE MCEDC IS FOCUSED ON MAXIMIZING MONTGOMERY COUNTY'S RICH DIVERSITY OF PEOPLE, TALENT AND MULTITUDE OF WORKFORCE AND BUSINESS EXPERTISE TO KEEP IT AT THE LEADING EDGE OF TODAY' S HYPER-COMPETITIVE ECONOMIC DEVELOPMENT ENVIRONMENT.COMPRISED OF A HIGHLY TALENTED TEAM OF 11 ON ITS BOARD OF DIRECTORS, THE MCEDC IS COMMITTED TO UPHOLDING AND EXTENDING THE COUNTY'S VIBRANT COMMUNITY AND LEVERAGING THE ADVANTAGES IT BRINGS FOR THE FUTURE OF BUSINESS ACROSS THE REGION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER, BOARD OF DIRECTORS
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IRS990/Form990PartVIISectionAGrp/TitleTxt12EX-OFFICIO MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt13EX-OFFICIO MEMBER, BOARD OF DIRECTORS
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT, STRATEGY
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDENT, OPERATIONS AND PARTNERSHIPS
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDENT, MARKETING
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IRS990/GovernmentGrantsAmt0500000
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0500000
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InitialReturnInd0X
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MD
IRS990/LoanOutstandingInd01
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MARKETING AND BUSINESS DEVELOPMENT TO DRIVE ECONOMIC GROWTH IN MONTGOMERY COUNTY, MARYLAND.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesEOYAmt0262028
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04756
IRS990/OfficeExpensesGrp/TotalAmt04756
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0HUMAN RESOURCES
IRS990/OtherExpensesGrp/Desc1BUSINESS OPERATIONS - I
IRS990/OtherExpensesGrp/Desc2EVENTS/SPONSORSHIPS
IRS990/OtherExpensesGrp/Desc3MEMBERSHIP/SUBS SERVICE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt087348
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt161726
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt226583
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt35405
IRS990/OtherExpensesGrp/TotalAmt087348
IRS990/OtherExpensesGrp/TotalAmt161726
IRS990/OtherExpensesGrp/TotalAmt226583
IRS990/OtherExpensesGrp/TotalAmt35405
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt05966
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DAVID PETR
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYExcessBenefitTransInd00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0262028
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0500000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0500000
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0500000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0500000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0500000
IRS990ScheduleA/TotalSupportAmt0500000
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt021304
IRS990ScheduleD/DonatedServicesUseFcltsAmt021304
IRS990ScheduleD/ExpensesNotReportedAmt021304
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0237972
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05966
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED EXPENSES
IRS990ScheduleD/RevenueNotReportedAmt021304
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0500000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MCEDC IS IN THE PROCESS OF APPLYING FOR EXEMPTION FROM FEDERAL INCOME TAX IN ACCORDANCE WITH SECTION 501(C)(3) OF THE IRC. WHILE MCEDC CURRENTLY DOES NOT HAVE A DETERMINATION LETTER FROM THE IRS TO BE TREATED AS A TAX EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE IRC, MANAGEMENT DOES NOT BELIEVE THE ORGANIZATION HAS ENGAGED IN ANY ACTIVITIES THAT WOULD BE DEEMED TO CONSTITUTE UNRELATED BUSINESS INCOME OR PREVENT THE ORGANIZATION FROM OBTAINING A QUALIFYING TAX EXEMPT STATUS. ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS AND THE ORGANIZATION HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN NOTES TO THE FINANCIAL STATEMENTS. MCEDC IS REQUIRED TO FILE TAX RETURNS WITH THE IRS BEGINNING WITH ITS 2016 TAX YEAR AND, AS OF JUNE 30, 2016, THE ORGANIZATION WAS IN COMPLIANCE WITH ALL IRS FILING REQUIREMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0237972
IRS990ScheduleD/TotalLiabilityAmt05966
IRS990ScheduleD/TotalRevenuePerForm990Amt0500000
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0521304
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0259276
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0DAVID PETR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0HOUSING
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT AND CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING MCEDC BOARD MEMBERS HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER: - DR. SANJAY RAI-TREASURER - ROBERT G BREWER, JR-VICE CHAIR - TIEN WONG-BOARD MEMBER - TERRY FORDE-BOARD MEMBER - RONALD PAUL-BOARD MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION INFORMS BOARD MEMBERS THAT THE RETURN IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, EACH OFFICER, DIRECTOR AND COMMITTEE MEMBER WILL COMPLETE A STATEMENT INDICATING WHETHER THEY HAVE ANY CONFLICTS OF INTEREST OR THEY OR A FAMILY MEMBER DOES BUSINESS WITH MCEDC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MCEDC BOARD OF DIRECTORS WILL APPOINT AN INDEPENDENT COMPENSATION COMMITTEE, WHICH WILL REVIEW COMPENSATION OF THE PRESIDENT & CEO AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS. FURTHER, THIS COMMITTEE WILL ESTABLISH PROCEDURES FOR SETTING COMPENSATION AND REVIEWING PERFORMANCE OF ALL OTHER EMPLOYEES. THESE PROCEDURES WILL REQUIRE THAT NO PERSONS WITH A CONFLICT OF INTEREST WILL BE INVOLVED IN SETTING THEIR OWN COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MCEDC'S BOARD OF DIRECTORS COMPLIES WITH THE STATE OF MARYLAND'S OPEN MEETINGS ACT. ALL MEETINGS ARE PROPERLY NOTICED TO THE PUBLIC, INCLUDING A POSTING OF MEETING AGENDAS AND MINUTES ON MCEDC'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0296985
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0296985
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0500000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0237972
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0237972
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt034957
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt034957
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0262028
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0500000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0296985
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0262028
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01801 ROCKVILLE PIKE 320
IRS990/USAddress/CityNm0ROCKVILLE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd020852
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.THINKMOCO.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$296,985
Liabilities
$34,957
Net assets
$262,028
Revenue
$500,000
Expenses
$237,972
Net income
$262,028
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$4.62$2.70$1.92$7.21$6.94$0.26
2022Summary only. Only limited summary data is available for this year.$2.83$1.16$1.66$7.93$8.89$0.96
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.17$4.55$2.62$22.0$22.5$0.50
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.13$1.00$3.13$7.13$6.11$1.02
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$1.11$2.11$5.11$4.49$0.62
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.59$1.11$1.48$5.03$5.24$0.21
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.92$1.23$1.69$4.48$3.05$1.43
2016Detailed filing. Detailed filing data is available for this year.$0.30$0.03$0.26$0.50$0.24$0.26