MARYLAND ECONOMIC DEVELOPMENT ASSO… - 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

1999

Legal Domicile

Principal Officer

RICHARD GRIFFIN

Phone

4103471246

Tax Period

2024-01-01 to 2024-12-31

MARYLAND ECONOMIC DEVELOPMENT ASSOCIATION INC (MEDA), founded in 1999, is a small nonprofit in the Community Improvement sector that reported $301K in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $290K left a modest 4% surplus.

Mission

A STATEWIDE ORGANIZATION OF ECONOMIC DEVELOPMENT PROFESSIONALS WHO PROMOTE ECONOMIC WELL-BEING IN MARYLAND BY WORKING TO IMPROVE THE BUSINESS CLIMATE AND PROFESSIONALISM IN THE FIELD OF ECON DEVELOPMT.

Program Service Accomplishments

Program 1

Expenses: $249,935 Revenue: $228,650

TO PROMOTE AND SUPPORT THE PROGRAMS OF THE MEDA FOUNDATION, INC. IN SUPPORT OF ECONOMIC WELL-BEING IN MARYLAND THROUGH EDUCATION AND PROFESSIONAL DEVELOPMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $64,100

Program Service Revenue $228,650

Investment Income $8,013

Other Revenue $0

TOTAL REVENUE $300,763

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,042

Fundraising Expenses $0

Program Expenses $249,935

Other Expenses $115,779

TOTAL EXPENSES $289,821

Year-over-Year Comparison

	2024	2023	Change
Revenue	$300,763	$278,201	+0.1%
Expenses	$289,821	$239,037	+0.2%
Net Income	$10,942	$39,164	-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

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD GRIFFIN	PRESIDENT	N/A	Officer Director	$0	$0	$0
TAMMI THOMAS	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
KELLY ROBERTSON-SLAGLE	SECRETARY	N/A	Officer Director	$0	$0	$0
RENEE WINSKY	TREASURER	N/A	Officer Director	$0	$0	$0
DANIEL THOMPSON	PAST PRESIDE	N/A	Officer Director	$0	$0	$0
DESTINY MITCHELL	DIRECTOR	N/A	Director	$0	$0	$0
EBONY STOCKS	DIRECTOR	N/A	Director	$0	$0	$0
JOHN STALFORT	DIRECTOR	N/A	Director	$0	$0	$0
JAMIE WILLIAMS	DIRECTOR	N/A	Director	$0	$0	$0
STEPHEN RICE	DIRECTOR	N/A	Director	$0	$0	$0
TRISH HEIDENREICH	DIRECTOR	N/A	Director	$0	$0	$0
LORI VALENTINE	DIRECTOR	N/A	Director	$0	$0	$0
ALLISON AKERS	DIRECTOR	N/A	Director	$0	$0	$0
ANDREA MANSFIELD	DIRECTOR	N/A	Director	$0	$0	$0
DAWN MEDLEY	DIRECTOR	N/A	Director	$0	$0	$0
JERRY SANFORD	DIRECTOR	N/A	Director	$0	$0	$0
DENISE BEAVER	DIRECTOR	N/A	Director	$0	$0	$0
JENNIFER LAHATTE	DIRECTOR	N/A	Director	$0	$0	$0
LARA FRITTS	DIRECTOR	N/A	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	$300,763	$289,821	$431,599	$10,942
2023	$278,201	$239,037	$470,929	$39,164
2022	$258,416	$228,037	$448,117	$30,379
2021	$239,005	$216,454	$426,691	$22,551
2020	$208,985	$184,884	$404,442	$24,101
2019	$218,290	$173,693	$382,681	$44,597
2018	$198,682	$193,344	$355,094	$5,338

MARYLAND ECONOMIC DEVELOPMENT ASSOCIATION INC (MEDA)