Maryland Rural Development Corporation

EIN: 521184645 501(c)(3) Community Improvement

Annapolis, MD

Total Revenue
$8,646,286
Total Expenses
$8,709,999
Total Assets
$5,721,386
Net Assets
$1,189,328
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
MD
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.

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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%)

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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

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Governance

Voting Members
13
Independent Members
13
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
6
$140,362
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
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
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