Maryland Rural Development Corpora… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Phone

4104822585

Tax Period

2023-01-01 to 2023-12-31

Maryland Rural Development Corporation, founded in 1979, is a community nonprofit in the Community Improvement sector that reported $8.6M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

Provide Economic, Educational and Housing Assistance to individuals who are in need through the resources offered by government and private grants.

Program Service Accomplishments

Program 1

Expenses: $6,913,884 Revenue: $159,804

Head Start/Early Head Start - Provides child development pre-school curriculum for young children of low income families. The Program also receives the benefit of in-kind contribution valued at...

Head Start/Early Head Start - Provides child development pre-school curriculum for young children of low income families. The Program also receives the benefit of in-kind contribution valued at $659,387, made up of: $203,411 personnel, $61,730 reduction of rent, $11,583 goods & supplies, $167,806 professional services, and $11,858 meetings.

Program 2

Expenses: $1,135,769 Revenue: $0

Community Services Block grant provides housing & economic development assistance as well as a youth employment program providing job training and green conservation skills.

Program 3

Expenses: $415,451 Revenue: $127,579

The Circuit Rider program provides professional Town Managers to support small, rural municipalities, in rural Maryland with technical assistance in financial administration, land planning and zoning...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,345,295

Program Service Revenue $273,679

Investment Income $144

Other Revenue $27,168

TOTAL REVENUE $8,646,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,558,387

Fundraising Expenses $4,745

Program Expenses $8,465,104

Other Expenses $3,151,612

TOTAL EXPENSES $8,709,999

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,646,286	$9,659,102	-0.1%
Expenses	$8,709,999	$9,860,176	-0.1%
Net Income	$-63,713	$-201,074	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

153

Volunteers

164

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$140,362

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Shelley Heller	Board Member	1.00	Director	$0	$0	$0
Michael Wagener	Board Member	1.00	Director	$0	$0	$0
Jeff Ghrist	Board Member	1.00	Officer Director	$0	$0	$0
Michael Brandon	Board Member	1.00	Director	$0	$0	$0
Wilbur Levengood	Board Treasurer	1.00	Officer Director	$0	$0	$0
Bob Meffley	Board Chair	1.00	Officer Director	$0	$0	$0
Christopher Benzing	Executive Director	40.00	Officer	$126,443	$13,919	$140,362
Susan O'Neill	Board Member	1.00	Director	$0	$0	$0
Scott Warner	Board Member	1.00	Director	$0	$0	$0
Josetta Jones	Board Member	1.00	Director	$0	$0	$0
Joceyln Erby	Secretary	1.00	Officer Director	$0	$0	$0
John Harris	Vice Chair	1.00	Officer Director	$0	$0	$0
Patrice Green-Ross	Board Member	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$8,646,286	$8,709,999	$5,721,386	$-63,713
2022	$9,659,102	$9,860,176	$5,829,796	$-201,074
2021	$9,297,615	$9,324,623	$2,490,801	$-27,008
2020	$8,053,022	$7,576,925	$3,038,480	$476,097
2019	$6,896,335	$6,535,133	$2,676,083	$361,202
2018	$6,024,912	$5,884,026	$1,839,288	$140,886

Maryland Rural Development Corporation