Overview
What is Anne Arundel Economic Development Corporation?
Anne Arundel Economic Development Corporation, located at 2660 Riva Road, Annapolis, Maryland 21401, is a nonprofit organization dedicated to promoting economic growth within Anne Arundel County. Their primary mission is to support business development by offering financing options and disseminating economic information. By providing loans to businesses relocating or already established in the county, they aim to stimulate job creation and investment, ultimately enhancing the local economy. The corporation employs a team of 18 individuals, working tirelessly to foster a thriving business environment in Anne Arundel County.
Official website here: www.aaedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
The Anne Arundel Economic Development Corporation has earned a solid Three-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The overall score is derived entirely from a single beacon score, indicating a focus on financial transparency and governance. The organization has demonstrated exemplary practices with a fully independent board and a high program expense ratio, showing that a significant portion of its resources is directed towards its mission.
Strengths of the organization include a 100% independent board, with all members demonstrating a commitment to ethical governance. The charity has also received full points in various accountability metrics, such as document retention, conflict of interest policies, and comprehensive auditing practices. Their financial statements are rigorously overseen, suggesting a high level of financial integrity.
However, while the organization has strengths in governance and financial management, the rating reflects no additional beacons, which may imply limited data on other operational aspects or programmatic impact. Overall, the Anne Arundel Economic Development Corporation appears to be a reliable nonprofit with a clear commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Anne Arundel Economic Development Corporation legitimate?
Anne Arundel Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Anne Arundel 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 tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $396,560
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,302,315
For more financial information, click here
Official website here: www.aaedc.org
What is the mission statement of Anne Arundel Economic Development Corporation?
The Anne Arundel Economic Development Corporation's mission is centered around promoting economic growth. It aims to serve the needs of businesses by providing financing options and fostering an environment that increases the economic base of the county. This is achieved through encouraging job creation and attracting investments. The corporation provides loans to businesses, both existing and those relocating, within the county, with the objective of bolstering business development.
Official website here: www.aaedc.org
Who is the CEO of Anne Arundel Economic Development Corporation?
Amy Gowan is the CEO of Anne Arundel Economic Development Corporation The CEO's salary of Anne Arundel Economic Development Corporation is $0 and their total compensation is $0.
Official website here: www.aaedc.org
What is the revenue of Anne Arundel Economic Development Corporation?
Anne Arundel Economic Development Corporation's revenue in 2024 was $4,386,829.
Official website here: www.aaedc.org
Who are the executives of Anne Arundel Economic Development Corporation and what are their salaries?
The average compensation at Anne Arundel Economic Development Corporation during 2024 was $84,944. There are 20 employees and 14 volunteers at Anne Arundel Economic Development Corporation.
Here are 22 key members and their salaries (Anne Arundel Economic Development Corporation's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $140,720
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- Other: $63,997
- Compensation: $146,752
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- Other: $39,728
- Compensation: $110,854
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- Compensation: $155,161
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- Other: $51,370
- Compensation: $108,818
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- Other: $29,591
- Compensation: $109,139
- Related: $0
- Other: $29,669
Official website here: www.aaedc.org
Where can I find the form 990 for Anne Arundel Economic Development Corporation?
Anne Arundel Economic Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.aaedc.org
Learn more at the official website: www.aaedc.org
Mission Statement of Anne Arundel Economic Development Corporation
The Anne Arundel Economic Development Corporation, in its mission, aims to stimulate economic growth by offering financing options and disseminating essential economic information. This nonprofit organization's primary objective is to cater to the needs of businesses, whether they are already established within Anne Arundel County, Maryland, or considering relocation. By providing loans to these businesses, the corporation encourages the expansion and development of the local economy. This initiative ultimately contributes to the enhancement of Anne Arundel County's economic base, leading to an increase in job opportunities and investments.
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Impact
July, 2024
The Anne Arundel Economic Development Corporation plays a significant role in promoting economic development in Anne Arundel County, Maryland. By providing financing options and economic information, the organization actively supports business development within the county. Through its financial services, including providing loans to businesses located in or relocating to Anne Arundel County, the corporation helps encourage entrepreneurship, job growth, and investment in the local economy. Their efforts contribute to the overall improvement of the community and serve the business needs of the area, ultimately aiming to expand and diversify the economic base of Anne Arundel County.
This information is meant to be a general summary of Anne Arundel Economic Development Corporation. 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 2024.
- Investment Income: $55,906
- Program Service Revenue: $450,979
- Gross Receipts: $4,386,829
Assets and Liabilities:
- Total Assets: $9,320,610
- Total Liabilities: $7,288,965
- Net Assets: $2,031,645
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCIAL SERVICES
Revenue
$423,864
AGRICULTURAL MARKETING
Revenue
$27,115
Organization Details
Founding Year
1993
Principal Officer
Eric Devito
Website
www.aaedc.orgNTEE Category
Code: S31Z - Community improvement
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