MONTGOMERY COUNTY ECONOMIC DEVELOP… - 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

2015

Legal Domicile

Principal Officer

PHILLIP JARED SMITH

Phone

2406416700

Tax Period

2024-07-01 to 2025-06-30

MONTGOMERY COUNTY ECONOMIC DEVELOPMENT C, founded in 2015, is a community nonprofit in the Community Improvement sector that reported $5.1M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year.

Mission

MARKETING AND BUSINESS DEVELOPMENT TO DRIVE ECONOMIC GROWTH IN MONTGOMERY COUNTY, MARYLAND.

Program Service Accomplishments

Program 1

Expenses: $4,415,142 Revenue: $110,953

MCEDC'S EFFORTS RESULTED IN THE CREATION OR RETENTION OF 1,506 JOBS. THROUGH 5,423 BUSINESS ASSISTANCES AND CONSULTATIONS WITH 1,050 COMPANIES, MCEDC SUPPORTED GROWTH ACROSS SIX KEY INDUSTRIES...

MCEDC'S EFFORTS RESULTED IN THE CREATION OR RETENTION OF 1,506 JOBS. THROUGH 5,423 BUSINESS ASSISTANCES AND CONSULTATIONS WITH 1,050 COMPANIES, MCEDC SUPPORTED GROWTH ACROSS SIX KEY INDUSTRIES, INCLUDING LIFE SCIENCES, TECHNOLOGY, REAL ESTATE, NONPROFIT, HOSPITALITY, AND CORPORATE HEADQUARTERS. IN PARTNERSHIP WITH THE LATINO ECONOMIC DEVELOPMENT CENTER, MCEDC ADMINISTERED THE ACCELERATING COMMUNITY EXCELLENCE (ACE) LOAN FUND, DESIGNED TO ASSIST SMALL, MINORITY AND WOMAN-OWNED BUSINESSES, WITH A SPECIAL EMPHASIS ON THOSE IN UNDERSERVED COMMUNITIES.CONTINUED ON SCHEDULE OMCEDC APPROVED 4 LOANS TOTALING $550,000. OF THAT $300,000 CAME FROM THE ACE LOAN FUND WITH $250,000 IN MATCHING FUNDS FROM LEDC. THREE OF THE LOAN RECIPIENTS WERE MONTGOMERY COUNTY BUSINESSES AND THE REMAINDER WERE IN TARGETED ZIP CODES IN THE STATE.

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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 $4,989,640

Program Service Revenue $110,953

Investment Income $34,497

Other Revenue $0

TOTAL REVENUE $5,135,090

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,267,410

Fundraising Expenses $0

Program Expenses $4,415,142

Other Expenses $2,196,771

TOTAL EXPENSES $5,464,181

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,135,090	$6,240,820	-0.2%
Expenses	$5,464,181	$6,348,144	-0.1%
Net Income	$-329,091	$-107,324	+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

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

$296,053

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD PEARSON	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
DR MUKESH KUMAR	VICE-CHAIR, BOARD OF DIRECTORS	2.00	Officer Director	$0	$0	$0
ANDY CHOD	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
KEVIN BEVERLY	IMMEDIATE PAST CHAIR, BOARD OF DIRECTORS	2.00	Officer Director	$0	$0	$0
DR ANNE KHADEMIAN	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
PETE BRISKMAN	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
MATTHEW LEE	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
SILVANA NANI	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
CHERLYN FREEMAN-WATKINS	MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
ANTHONY FEATHERSTON	EX-OFFICIO MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
RICHARD MADALENO	EX-OFFICIO MEMBER, BOARD OF DIRECTORS	2.00	Director	$0	$0	$0
COUNCILMEMBER MARILYN BALCOMBE	EX-OFFICIO MEMBER, BOARD OF DIRECTORS	4.00	Director	$0	$0	$0
JIM SOLTESZ	MEMBER, BOARD OF DIRECTORS	4.00	Director	$0	$0	$0
JENNIFER HSIN	TREASURER, BOARD OF DIRECTORS	4.00	Officer Director	$0	$0	$0
ELANA FINE	CHAIR, BOARD OF DIRECTORS	4.00	Officer Director	$0	$0	$0
KEVIN ANDERSON	EX-OFFICIO MEMBER, BOARD OF DIRECTORS	4.00	Director	$0	$0	$0
DEVANG SHAH	SECRETARY, BOARD OF DIRECTORS	4.00	Officer Director	$0	$0	$0
BILL TOMPKINS	PRESIDENT AND CEO	40.00	Officer	$277,163	$18,890	$296,053
STACEY HARDY	VP OF OPERATIONS	40.00	Highest	$183,999	$17,999	$201,998
LYNNE BENZION	DIRECTOR OF ECONOMIC DEVELOPMENT	40.00	Highest	$173,480	$19,056	$192,536
MICHAEL MITCHELL	VP OF MARKETING & COMMUNICATION	40.00	Highest	$177,190	$28,183	$205,373
LAUREEN M BABB	DIRECTOR OF ECONOMIC DEVELOPMENT	40.00	Highest	$181,081	$14,618	$195,699
PRAYAS NEUPANE	DIRECTOR OF ECONOMIC DEVELOPMENT	40.00	Highest	$163,197	$7,543	$170,740

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	$5,135,090	$5,464,181	$4,163,154	$-329,091
2024	$6,240,820	$6,348,144	$4,665,093	$-107,324
2023	$7,205,268	$6,944,623	$4,619,671	$260,645
2022	$7,933,113	$8,894,394	$2,827,028	$-961,281
2021	$21,976,364	$22,480,206	$7,174,281	$-503,842
2020	$7,128,842	$6,108,581	$4,129,581	$1,020,261
2019	$5,109,698	$4,485,147	$3,221,806	$624,551

MONTGOMERY COUNTY ECONOMIC DEVELOPMENT C