Overview
What is Maryland Economic Development Corporation?
The Maryland Economic Development Corporation (MEDCO) is a nonprofit organization based in Baltimore, Maryland. Their primary mission is to stimulate business growth and economic development in the state by attracting new businesses and expanding existing ones. They achieve this goal by offering development, expansion, and modernization of facilities, particularly vacant or underutilized industrial sites. MEDCO provides businesses with favorable financing and facilities, as well as management and consulting expertise to help them thrive. The organization's focus on productive employment and strengthening the economy and tax base is essential to its mission.
Official website here: www.medco-corp.com
Is Maryland Economic Development Corporation legitimate?
Maryland Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Maryland Economic Development Corporation 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 not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $473,551
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,031,781
For more financial information, click here
What is the mission statement of Maryland Economic Development Corporation?
The Maryland Economic Development Corporation (MEDCO) is dedicated to expanding productive employment and growing the economy and tax base of the state. It achieves this goal by developing and modernizing under-utilized industrial sites and facilities, as well as providing other economic resources. In pursuit of its mission, MEDCO offers businesses favorable financing rates for facilities and provides management and consulting expertise. The organization's primary focus is on creating new opportunities for businesses and encouraging growth within existing ones.
Official website here: www.medco-corp.com
Who is the CEO of Maryland Economic Development Corporation?
J Thomas Sadowski Jr is the Chairman of Maryland Economic Development Corporation.
Official website here: www.medco-corp.com
What is the revenue of Maryland Economic Development Corporation?
Maryland Economic Development Corporation's revenue in 2022 was $218,789,271.
Official website here: www.medco-corp.com
Who are the executives of Maryland Economic Development Corporation and what are their salaries?
The average compensation at Maryland Economic Development Corporation during 2022 was $107,524. There are 14 employees and 12 volunteers at Maryland Economic Development Corporation.
Here are 20 key members and their salaries:
- Robert C Brennan (Executive Director And Sec-Part Year)
- Richard S Cassard (Director Of Special Projects)
- James R Miller (Cfo)
- John Genakos (Director Of Development)
- J Thomas Sadowski Jr (Executive Director And Secretary)
- Louis J Nocar (Controller)
- Scott Dorsey (Chairman) [Trustee/Director]
- Richard Woo (Vice Chairman) [Trustee/Director]
- Tehma Hallie Smith Wilson (Treasurer) [Trustee/Director]
- Michael Cottingham (Board Of Directors)
- Secretary R Michael Gill (Board Of Directors)
- Barry Glassman (Board Of Directors)
- Ed Gosselin (Board Of Directors)
- James Hinebaugh Jr (Board Of Directors)
- Mary Ann Marbury (Board Of Directors)
- Secretary James F Ports (Board Of Directors)
- Secretary Kelly Schulz (Board Of Directors - Part Year)
- Harry Shasho (Board Of Directors)
- Secretary Gregory Slater (Board Of Directors - Part Year)
- Jessica Underwood Esq (Board Of Directors)
Official website here: www.medco-corp.com
Where can I find the form 990 for Maryland Economic Development Corporation?
The Maryland Economic Development Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.medco-corp.com
Learn more at the official website: www.medco-corp.com
Mission Statement of Maryland Economic Development Corporation
Maryland Economic Development Corporation, or MEDCO, is a key player in Maryland's economic landscape. With a primary focus on business development, MEDCO aims to expand productive employment and the state's economy and tax base. To achieve this goal, MEDCO identifies and develops under-utilized industrial sites and facilities, as well as other economic resources.
MEDCO's mission is multifaceted. It encompasses the provision of facilities and financing for businesses at favorable rates. These resources enable new ventures to take root and existing businesses to expand and modernize, contributing to the state's economic growth. MEDCO's role extends beyond just financial support. The organization also offers management and consulting expertise, ensuring the long-term success of the businesses it supports.
As a catalyst for economic growth, MEDCO plays a vital role in Maryland's business community. By developing and revitalizing under-utilized industrial sites, MEDCO creates an environment that attracts new businesses and encourages existing ones to expand. This, in turn, leads to increased employment opportunities and a stronger tax base for the state. Through its commitment to business development, Maryland Economic Development Corporation fosters a thriving and sustainable economy.
Impact
This information is meant to be a general summary of Maryland Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Maryland Economic Development Corporation plays a significant role in attracting new businesses and fostering the growth of existing businesses in Maryland. Through the development, expansion, and modernization of facilities, such as the Chesapeake Bay Conference Center in Cambridge, Maryland, MEDCO contributes to the state's economic growth and job creation. By providing facilities and financing at favorable rates, along with management and consulting expertise, MEDCO helps to revitalize vacant or underutilized industrial sites and other economic resources, thereby expanding productive employment opportunities and bolstering Maryland's economy and tax base.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPERATIONS OF CBCC
Revenue
$42,285,636
OPERATIONS OF UMCP HOUSING
Revenue
$32,120,838
ENERGY SERVICES CHARGES
Revenue
$19,987,864
OPERATIONS OF TOWSON WEST
Revenue
$8,022,113
OPERATIONS OF MORGAN
Revenue
$7,592,908
Organization Details
Founding Year
1984
Phone
(410) 625-0051
Principal Officer
J Thomas Sadowski Jr
Main Address
7 SAINT PAUL STREET 940, BALTIMORE, MD, 21202
Website
www.medco-corp.com
NTEE Category
Code: S30 - Community improvement
If you are a representative of Maryland Economic Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.