Overview
What is East Baltimore Development Inc?
East Baltimore Development Inc (EBDI) is a nonprofit organization based in Baltimore, Maryland. In 2022, they continued their efforts to revitalize the East Baltimore community by collaborating with developers, the city, and state agencies. Their mission is to attract investment, development, population, and enterprise to the area while equipping residents with the necessary skills, information, and resources to benefit from new opportunities. EBDI's initiatives include the development of market-rate and affordable residential projects, commercial/lab buildings, and a future grocery store/mixed-use development, which together will yield over 1,000 new units and commercial spaces. Their approach focuses on economic and community development with an emphasis on mitigating gentrification. EBDI's partners in this project include the City of Baltimore, the State of Maryland, Johns Hopkins University and Medicine, the Annie E. Casey Foundation, and the Harry and Jeanette Weinberg Foundation, among others. Their East Baltimore Initiative leverages the world-class health delivery and research facilities at Johns Hopkins Medical Campus to drive economic growth in the neighborhood and region. Despite the challenges posed by the COVID-19 pandemic, EBDI secured funding from the city and Johns Hopkins University in 2022 and anticipates receiving additional funding from development rights fees in 2023. EBDI has a commitment to substantive participation by local, minority-owned, and women-owned enterprises, with over $437 million in construction contracts awarded to date. The completed revitalization project is projected to generate $1.8 billion of public/private investment in the community over 20 years.
Official website here: www.ebdi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
East Baltimore Development Inc has achieved a perfect score of 100%, earning a Four-Star rating from Charity Navigator. This exceptional rating reflects the organization’s commitment to accountability and financial transparency, which are critical for trust among donors and beneficiaries. The rating is based solely on the charity's performance in the Accountability & Finance beacon, indicating a strong emphasis on these areas.
The organization boasts a wholly independent board, consisting of 17 members, which contributes to its strong governance practices. Additionally, the charity has comprehensive policies in place, including a conflict of interest policy and a whistleblower policy, demonstrating a commitment to ethical operations. Financially, the organization maintains a low liability-to-assets ratio and impressive program expense ratios, indicating efficient use of resources to further its mission.
However, it is worth noting that while the financial metrics are strong, feedback on program impact and community engagement was not provided in the available data. This lack of qualitative insight means that while the organization is financially sound, its overall effectiveness and impact on the community it serves remain to be assessed through further detailed evaluations or testimonials.
This AI summary has been generated from information found on Charity Navigator.
Is East Baltimore Development Inc legitimate?
East Baltimore Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Baltimore Development Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $289,421
Professional Fundraising Fees: $0
Other Salaries and Wages: $546,679
For more financial information, click here
Official website here: www.ebdi.org
What is the mission statement of East Baltimore Development Inc?
The East Baltimore Development Inc is dedicated to drawing market-oriented investments, development, population, and businesses to the community, all while equipping local residents with essential skills, information, and resources to benefit from new housing, employment, and educational opportunities. Leveraging the world-class health and research facilities that anchor the neighborhood, city, and region, this initiative aims to economically empower the community. The East Baltimore Development Foundation, a related non-profit organization, was established in 2008 to support and carry out the charitable and educational purposes of East Baltimore Development Inc.
Official website here: www.ebdi.org
Who is the CEO of East Baltimore Development Inc?
Cheryl Washington is the Board Member of East Baltimore Development Inc. The CEO's salary of East Baltimore Development Inc is $271,960 and their total compensation is $295,484.
Official website here: www.ebdi.org
What is the revenue of East Baltimore Development Inc?
East Baltimore Development Inc's revenue in 2022 was $30,262,944.
Official website here: www.ebdi.org
Who are the executives of East Baltimore Development Inc and what are their salaries?
The average compensation at East Baltimore Development Inc during 2022 was $104,512. There are 8 employees and 21 volunteers at East Baltimore Development Inc.
Here are 19 key members and their salaries (East Baltimore Development Inc's CEO's salary is $271,960 and their total compensation is $295,484):
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- Compensation: $271,960
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- Other: $23,524
- Compensation: $249,729
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- Other: $29,234
Official website here: www.ebdi.org
Where can I find the form 990 for East Baltimore Development Inc?
East Baltimore Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ebdi.org
Learn more at the official website: www.ebdi.org
Mission Statement of East Baltimore Development Inc
East Baltimore Development Inc, a mission-driven organization, aims to draw market-oriented investment, development, population, and enterprise to the East Baltimore community. By doing so, the initiative seeks to provide community residents with the essential skills, information, and resources necessary to benefit from new housing, employment, business, and educational opportunities. The organization's endeavors are grounded in the world-class health and research facilities that anchor and economically power the neighborhood, city, and region.
The East Baltimore Development Foundation, Inc. (EBDF), a related non-profit entity, was established in 2008 to support and carry out the charitable and educational purposes of East Baltimore Development Inc as a non-stock corporation solely for charitable and educational purposes. EBDF serves as a Type I supporting organization, as defined by the IRS, and plays a crucial role in achieving the organization's objectives.
In essence, East Baltimore Development Inc is dedicated to fostering a thriving and self-sufficient community by attracting investment, development, and opportunities that empower residents to succeed. The organization's activities serve to strengthen the community as a whole, creating a positive ripple effect that benefits both residents and the broader region.
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Impact
August, 2024
East Baltimore Development Inc's impact is seen in its successful efforts to attract market-oriented investment, development, population, and enterprise to the East Baltimore community. By working with developers, city and state agencies, and various partners, EBDI has facilitated the completion of pre-development activities for new residential and commercial projects, including over 500 units of market-rate and affordable housing. Additionally, EBDI's responsible redevelopment approach aims to mitigate the effects of gentrification and create inclusive economic and community development opportunities. The organization's commitment to local, minority-owned, and women-owned enterprises has resulted in over $437 million in construction contracts awarded to date, with a focus on providing job opportunities for the East Baltimore workforce. Overall, EBDI's initiatives are projected to generate $1.8 billion of public/private investment in the community over 20 years, with significant progress made towards this goal through the $1.1 billion already invested.
This information is meant to be a general summary of East Baltimore Development Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $23,046,697
- Program Service Revenue: $670,500
- Gross Receipts: $30,681,390
Assets and Liabilities:
- Total Assets: $12,751,192
- Total Liabilities: $100,009
- Net Assets: $12,651,183
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$618,845
APPLICATION & OTHER FE
Revenue
$51,655
Organization Details
Founding Year
2002
Phone
(410) 234-0660Principal Officer
Cheryl Washington
Main Address
929 N WOLFE STREET STE 1106, BALTIMORE, MD, 21205
Website
www.ebdi.orgNTEE Category
Code: S30 - Community improvement
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