NonprofitsMaryland Economic Development Corporation

Maryland Economic Development Corporation

BALTIMORE, MD

Total revenue

$210.5M

Total expenses

$219.2M

Net assets

Grants received

$6.7M

4 grants

EIN

521376562

Tax year

2023

Mission

To attract new businesses and encourage expansion of existing businesses in maryland through development, expansion, and/or modernization of facilities.

Programs

3 programs

Umcp housing is a program under which medco leases land used for the south campus commons and the courtyards at the umcp campus in prince george's county, maryland.

Expenses: $33.0M

Umcp energy is a program under which medco leases land, certain energy conversion facilities and steam, electricity and chilled water delivery systems at the umcp campus in prince george's county, maryland, and provides energy conversion, delivery and related services to umcp.

Expenses: $16.4M

Medco provided financing packages or favorable lease terms for many projects throughout the state. In addition, medco assisted organizations in their efforts to expand or modernize.

Expenses: $104.9M

Financials

FY 2023

Revenue

Contributions & grants
Program service revenue$199.0M
Investment income$11.1M
Other revenue$346K
Total revenue$210.5M

Expenses

Grants paid
Salaries & benefits$2.9M
Fundraising
Other expenses$216.3M
Total expenses$219.2M
Total assets$978.8M
Net assets

People

20 listed

NameRoleCompensation

J THOMAS SADOWSKI JR

EXECUTIVE DIRECTOR AND SECRETARY

Board

$320K

40 hrs/wk

KEASHA HAYTHE

BOARD OF DIRECTORS

Board

1 hrs/wk

JAMES HINEBAUGH JR

BOARD OF DIRECTORS (PART YEAR)

Board

1 hrs/wk

OMAR KARIM

BOARD OF DIRECTORS

Board

1 hrs/wk

MARY ANN MARBURY

BOARD OF DIRECTORS

Board

1 hrs/wk

SCOTT DORSEY

CHAIRMAN

Board

1 hrs/wk

JESSICA UNDERWOOD ESQ

BOARD OF DIRECTORS

Board

1 hrs/wk

SECRETARY PAUL J WIEDEFELD

BOARD OF DIRECTORS

Board

1 hrs/wk

DAVID YUNGMANN

BOARD OF DIRECTORS (PART YEAR)

Board

1 hrs/wk

HARRY SHASHO

BOARD OF DIRECTORS

Board

1 hrs/wk

RICHARD WOO

VICE CHAIRMAN

Board

1 hrs/wk

TEHMA HALLIE SMITH WILSON

TREASURER

Board

1 hrs/wk

SECRETARY KEVIN ANDERSON

BOARD OF DIRECTORS

Board

1 hrs/wk

ERIC COSTELLO

BOARD OF DIRECTORS

Board

1 hrs/wk

MICHAEL COTTINGHAM

BOARD OF DIRECTORS

Board

1 hrs/wk

JAMES R MILLER

CFO

Staff

$197K

40 hrs/wk

JOHN GENAKOS

DIRECTOR OF RE & DEVELOPMENT

Staff

$168K

40 hrs/wk

WYATT SHIFLETT

DIRECTOR OF FINANCING

Staff

$142K

40 hrs/wk

SARAH HORTA

DIRECTOR OF INNOVATION & STRATEGIC PARTNERSHIPS

Staff

$130K

40 hrs/wk

FRANCINA BRINKER

ASST DIRECTOR OF FINANCING

Staff

$126K

40 hrs/wk

Independent contractors

GILBANE BUILDING COMPANY

CONTRACTOR

$3.8M

ERNST & YOUNG US LLP

CONSULTANT

$1.9M

GRIMM AND PARKER

CONSULTANT

$898K

MADISON PARK NORTH LLC

CONTRACTOR

$769K

AAA COMPLETE BUILDING SERVICES INC

CONSULTANT

$560K

Grants received

Showing 4 of 4

FromAmountPurposeYear
$150K
PROTECT
2022
$30K
NATIONAL PARKS
2021

Funded by

$6.7M from 3 funders · 4 grants · 2021–2024

Neighborhood Impact Investment Fund Inc

$6.5M · 2 grants · 2023–2024

National Park Foundation

$150K · 1 grant · 2022

The Community Foundation Of

$30K · 1 grant · 2021

Details

EIN521376562
Subsection04
Ruling date1986-09
Formed1984
Employees19
Volunteers12
MARYLAND ECONOMIC DEVELOPMENT CORPORATION — Mission, Financials & Grants Received | Grantivo