Overview
What is Montgomery County Economic Development C?
Montgomery County Economic Development Corporation (MCEDC) is a nonprofit organization situated in Rockville, Maryland, with a strong focus on fostering economic growth and prosperity in Montgomery County. Driven by a talented team of 13 board members, MCEDC employs a public-private perspective, entrepreneurial spirit, and proactive approach to economic development. Their mission is to accelerate the growth, retention, and attraction of businesses in key sectors, thereby promoting equitable and inclusive economic growth in the area. MCEDC leverages the county's diverse talent pool and workforce expertise to maintain its competitive edge in the dynamic economic landscape. Their activities aim to drive business development and contribute to the vibrancy of the local community, ultimately ensuring sustainable economic growth for the region.
Official website here: www.thinkmoco.com
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 90% (Four-Star out of Four Star Rating)**
The Montgomery County Economic Development Corporation has received a Four-Star rating from Charity Navigator, reflecting a high level of accountability and financial health. The organization excels in maintaining an independent board with no conflicts of interest, displaying strong governance practices. Its financial management is notably robust, with a program expense ratio of 93.46%, indicating that a significant majority of resources are directed toward their mission.
Strengths highlighted include thorough oversight mechanisms, a whistleblower policy, and transparency in financial reporting practices. These factors contribute to a favorable perception of their operational integrity, which is critical in fostering trust among potential donors and community stakeholders.
However, the organization has room for improvement, particularly regarding its liabilities to assets ratio, which stands at 58.37%, suggesting some level of financial risk. Despite this, they continue to show strong performance in program expenses and governance, making them a commendable option for support.
**User Reviews: Not Available**
This AI summary has been generated from information found on Charity Navigator.
Is Montgomery County Economic Development C legitimate?
Montgomery County Economic Development C is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montgomery County Economic Development C 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: $265,577
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,314,690
For more financial information, click here
Official website here: www.thinkmoco.com
What is the mission statement of Montgomery County Economic Development C?
Montgomery County Economic Development Corporation, often referred to as MCEDC, is dedicated to promoting equitable and inclusive economic growth, prosperity, and sustainability in its area. Their mission is achieved through activities that stimulate the expansion, retention, and attraction of businesses in key industry sectors. The organization focuses on marketing and business development to drive economic growth, leveraging its diverse population, talent, and workforce expertise to maintain a competitive edge in an evolving economic landscape. The MCEDC is led by a talented team of board members, committed to upholding and extending the community's vibrancy, utilizing the region's advantages for future business success.
Official website here: www.thinkmoco.com
Who is the CEO of Montgomery County Economic Development C?
Bill Tompkins is the Principal Officer of Montgomery County Economic Development C. The CEO's salary of Montgomery County Economic Development C is $252,882 and their total compensation is $266,959.
Official website here: www.thinkmoco.com
What is the revenue of Montgomery County Economic Development C?
Montgomery County Economic Development C's revenue in 2022 was $7,933,113.
Official website here: www.thinkmoco.com
Who are the executives of Montgomery County Economic Development C and what are their salaries?
The average compensation at Montgomery County Economic Development C during 2022 was $92,152. There are 28 employees and 11 volunteers at Montgomery County Economic Development C.
Here are 19 key members and their salaries (Montgomery County Economic Development C's CEO's salary is $252,882 and their total compensation is $266,959):
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- Compensation: $252,882
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- Other: $14,077
- Compensation: $202,188
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- Compensation: $155,745
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- Other: $21,784
- Compensation: $168,497
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- Other: $12,476
Official website here: www.thinkmoco.com
Where can I find the form 990 for Montgomery County Economic Development C?
Montgomery County Economic Development C's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thinkmoco.com
Learn more at the official website: www.thinkmoco.com
Mission Statement of Montgomery County Economic Development C
Montgomery County Economic Development Corporation (MCEDC) is a nonprofit organization committed to driving economic growth in Montgomery County, Maryland. With a fresh public-private perspective, an entrepreneurial spirit, and a proactive approach to economic development, the MCEDC aims to maximize the county's rich diversity of people, talent, and workforce expertise. The corporation's mission is to advance equitable and inclusive economic growth, prosperity, and sustainability in Montgomery County by accelerating the growth, retention, and attraction of businesses in key industry sectors. By leveraging the county's advantages and extending its vibrant community, the MCEDC seeks to keep Montgomery County at the forefront of today's highly competitive economic development environment. The corporation is led by a highly talented team of 11 voting and 2 non-voting board members, all dedicated to upholding and extending Montgomery County's thriving community for the future of business across the region.
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Impact
July, 2024
Montgomery County Economic Development C's impact is focused on advancing equitable and inclusive economic growth, prosperity, and sustainability in Montgomery County, Maryland. They work to accelerate the growth, retention, and attraction of businesses in key industry sectors to achieve greater economic competitiveness and prosperity across the county. Through a fresh public/private perspective and proactive approach to economic development, Montgomery County Economic Development C aims to maximize the county's diversity, talent, and workforce expertise to keep it at the leading edge of today's hyper-competitive economic development environment. Their efforts include marketing and business development to drive economic growth in Montgomery County.
This information is meant to be a general summary of Montgomery County Economic Development C. 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: $723
- Program Service Revenue: $129,964
- Gross Receipts: $7,933,113
Assets and Liabilities:
- Total Assets: $2,827,028
- Total Liabilities: $1,164,608
- Net Assets: $1,662,420
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REIMBURSEMENT INCOME
Revenue
$129,964
Organization Details
Founding Year
2015
Phone
(240) 641-6700Principal Officer
Bill Tompkins
Main Address
1801 ROCKVILLE PIKE 320, ROCKVILLE, MD, 20852
Website
www.thinkmoco.comNTEE Category
Code: S30 - Community improvement
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