CITY OF BALTIMORE DEVELOPMENT CORP… - 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

1991

Legal Domicile

Principal Officer

COLIN TARBERT

Phone

4108379305

Tax Period

2023-07-01 to 2024-06-30

CITY OF BALTIMORE DEVELOPMENT CORPORATIO, founded in 1991, is a community nonprofit in the Community Improvement sector that reported $2.6M in total revenue in fiscal year 2023. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $9.9M exceeded revenue, resulting in a 279% operating deficit.

Mission

THE CITY OF BALTIMORE DEVELOPMENT CORPORATION (BDC) IS CONTRACTED WITH THE CITY OF BALTIMORE TO PROVIDE ECONOMIC DEVELOPMENT SERVICES. WITH A MISSION TO RETAIN AND EXPAND EXISTING EMPLOYERS AND ATTRACT NEW ONES, WE WORK COLLABORATIVELY WITHIN CITY GOVERNMENT, AND WITH PRIVATE PARTNERS, TO DELIVER SERVICES THAT WILL HELP YOUR BUSINESS GROW.

Program Service Accomplishments

Program 1

Expenses: $6,571,583 Revenue: $1,123,426

BUSINESS ASSISTANCE, SITE ANALYSIS, FINANCIAL PACKAGING, OMBUDSMAN, PROMOTING AND MARKETING OF BALTIMORE, MD

Program 2

Expenses: $1,467,395 Revenue: $1,119,659

SITE DEVELOPMENT COST, SITE ACQUISTION, CONSULTANTS, ENGINEERING, CONSTRUCTION, AND OPERATION DEVELOPMENT OF AREAS OWNED BY AND/OR LOCATED IN BALTIMORE, MD

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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 $375,201

Program Service Revenue $1,290,138

Investment Income $952,947

Other Revenue $0

TOTAL REVENUE $2,618,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,501,922

Fundraising Expenses $0

Program Expenses $8,038,978

Other Expenses $8,414,074

TOTAL EXPENSES $9,915,996

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,618,286	$7,592,660	-0.7%
Expenses	$9,915,996	$9,959,023	0.0%
Net Income	$-7,297,710	$-2,366,363	+2.1%

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

Volunteers

N/A

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

$1,064,953

Total Directors

$287,359

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COLIN TARBERT	PRESIDENT & CEO	37.50	Officer Director	$250,131	$37,228	$287,359
KIMBERLY CLARK	EXECUTIVE VP/SECRETARY	37.50	Officer	$209,481	$30,158	$239,639
NANCY JORDAN-HOWARD	CHIEF OPERATING OFFICER	37.50	Officer	$206,750	$17,028	$223,778
JEFFREY PILLAS	CHIEF FINANCIAL OFFICER	37.50	Officer	$164,431	$29,803	$194,234
CHAVEL DIXON	CONTROLLER/TREASURER	37.50	Officer	$107,101	$12,842	$119,943
DAN TAYLOR	MANAGING DIRECTOR - BUSINESS & NEIGHBORHOOD DEVE	37.50	Highest	$131,087	$29,581	$160,668
LARYSA SALAMACHA	MANAGING DIRECTOR - STRATEGY, RESEARCH & ANALYTICS	37.50	Highest	$120,057	$23,272	$143,329
AUGIE CHIASERA	CHAIR	1.00	Director	$0	$0	$0
JEFFREY HARGRAVE	VICE-CHAIR	1.00	Director	$0	$0	$0
ARNOLD WILLIAMS CPA	IMMEDIATE PAST CHAIR	1.00	Director	$0	$0	$0
ELDA DEVARIE	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY FRALEY	DIRECTOR	1.00	Director	$0	$0	$0
MIRIAM FUCHS	DIRECTOR	1.00	Director	$0	$0	$0
ALICE KENNEDY	DIRECTOR	1.00	Director	$0	$0	$0
CARIM KHOUZAMI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MOCKSTEN	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA WELLS-SIMS	DIRECTOR	1.00	Director	$0	$0	$0
SHELONDA STOKES	DIRECTOR	1.00	Director	$0	$0	$0
DR MOHAN SUNTHA	DIRECTOR	1.00	Director	$0	$0	$0
PAUL E TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WALTON	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN WILLIAMS	DIRECTOR	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
2025	No data	No data	No data	No data
2024	$2,618,286	$9,915,996	$30,646,132	$-7,297,710
2023	$6,026,374	$11,490,233	$29,043,367	$-5,463,859
2022	$7,592,660	$9,959,023	$34,390,220	$-2,366,363
2021	$13,864,142	$25,519,602	$22,115,045	$-11,655,460
2020	$9,152,119	$11,168,406	$31,908,066	$-2,016,287
2019	$9,876,305	$9,422,765	$26,936,434	$453,540
2018	$14,655,514	$14,123,983	$28,685,288	$531,531

CITY OF BALTIMORE DEVELOPMENT CORPORATIO