EIN 52-1376562

Maryland Economic Development Corporation (MEDC)

IRS 501(c) type
501(c)(4)
Num. employees
12
Year formed
1984
Most recent tax filings
2019-06
NTEE code, primary
Financials as of 2019-06
Revenues
$129.5m
-$7m
-5.0%
 
$142m: Prog svcs
 
$1m: Invst income
 
$846k: Misc rev
Expenses
$160.5m
+$10m
7.0%
 
$100m: Expense, other
 
$31m: Deprec
 
$28m: Interest
 
$2m: Misc other expenses
Assets
$539m
+$6m
1.1%
 
$393m: Bldg & equip
 
$101m: Other assets
 
$26m: Savings
 
$19m: Misc other assets
Liabilities
$808.9m
+$37m
4.8%
 
$583m: Tax-exempt bonds
 
$100m: Other lia
 
$75m: Accts pay
 
$52m: Misc other liabilities
Description
The legislative purposes of MEDC are to: relieve unemployment in the State; encourage the increase of business activity and commerce and a balanced economy in the State; help retain and attract business activity and commerce in the State.

Program areas at MEDC

Chesapeake bay conference center is a hospitality project located in cambridge, Maryland.
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.
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.

Form 990s for MEDC

Fiscal year endingDate received by IRSFormPDF link
2019-062020-11-13990View PDF
2018-062019-06-19990View PDF
2017-062018-04-10990View PDF
2016-062017-07-19990OView PDF
2015-062016-04-06990OView PDF
...and 6 more Form 990s

Financials for MEDC

RevenuesFYE 06/2019
Total grants, contributions, etc.$670,566
Program services$142,091,663
Investment income and dividends$1,299,379
Tax-exempt bond proceeds$684,072
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-16,117,617
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$846,347
Total revenues$129,474,410

Personnel at MEDC

NameTitleCompensation
Jim MillerChief Financial Officer
Robert C. BrennanExecutive Director and Secretary$250,221
John GenakosDirector of Development / Associate Director for Development and Information Technology
 Subscribe to viewDirector of Special Projects
 Subscribe to viewDirector of Bond Financing / Assistant Director , Bond Financing
...and 12 more key personnel

Organizations like MEDC

OrganizationLocationRevenue
City of Scottsdale Municipal Property CorporationScottsdale, AZ$50,739,895
Cuyahoga County Convention Facilities Development CorporationCleveland, OH$61,880,216
NDC Housing and Economic Development CorporationNew York, NY$115,894,266
JobsOhio Beverage SystemColumbus, OH$537,286,146
Focus on EnergyMadison, WI$103,175,336
National Campus and Community Development Corporation (NCCDC)Austin, TX$41,100,258
SunSystem Development CorporationAltamonte Springs, FL$34,574,666
San Diego County Tobacco Securitization CorporationSan Diego, CA$33,352,097
The New Clinical Program Development CorporationNew Haven, CT$40,000,000
Louisville Arena AuthorityLouisville, KY$34,268,518
Iec Hotel CorporationWest Des Moines, IA$34,457,975
Municipal Improvement Corporation of Los AngelesLos Angeles, CA$70,901,113
Delta Dental of MassachusettsBoston, MA$306,599,248
Self-Help Ventures FundDurham, NC$62,183,272
San Diego Tourism Marketing District (SDTMD)San Diego, CA$45,650,397
San Francisco Tourism Improvement District (SF TID)San Francisco, CA$54,755,386
Rocky Mountain Health Plans (RMHP)Grand Junction, CO$618,950,733
Los Angeles Lomod CorporationLos Angeles, CA$575,722,626
Ut-Battelle Development CorporationOak Ridge, TN$36,682,909
Partnership for Supply Chain Management (PFSCM)Arlington, VA$603,056,799
Nef Community InvestmentsChicago, IL$42,728,716
ActBlueSomerville, MA$49,195,661
United Community FundNew York, NY$39,959,903
State Engagement FundRaleigh, NC$50,226,855
Boys and Girls Clubs of AmericaAtlanta, GA$55,172,790
Nonprofit Types
Issues
Characteristics
Key performance indicators
Total revenues
$129,474,410
2019
Yearly growth
-5%
% of revenues
n/a
Total expenses
$160,505,562
2019
Yearly growth
7%
% of expenses
n/a
Total assets
$539,019,716
2019
Yearly growth
1.1%
% of assets
n/a
Num. employees
12
2019
Yearly growth
20%
% of total
n/a
General information
Address
300 E Lombard Street No 1000
Baltimore, MD 21202
Metro area
Baltimore-Columbia-Towson, MD
Website URL
medco-corp.com/ 
Phone
(410) 625-0051
IRS details
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1984
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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