2024-02-16T09:05:49-06:00 2023-06-30 520982413 GROSS MENDELSOHN & ASSOCIATES PA 1801 PORTER STREET SUITE 500 BALTIMORE MD 21230 990 2022-07-01 521298515 PRINCE GEORGE'S COUNTY ECONOMIC DEVELOPMENT CORPORATION PRIN 3015834650 1801 MCCORMICK DRIVE 350 LARGO MD 20774 RAMSEY KOOJO CONTROLLER 3015834650 2024-02-16 1 RAMSEY KOOJO XXX-XX-XXXX 0 LISA B JOHNSON P01250416 4106855512 2024-02-16 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID S IANNUCCI 1801 MCCORMICK DRIVE 350 LARGO MD 20774 5105140 0 X WWW.PGCEDC.COM X 1983 MD PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING BUSINESS SERVICES TO ATTRACT, RETAIN, AND EXPAND BUSINESSES IN THE COUNTY, GROWING BOTH JOBS AND THE COMMERCIAL TAX BASE. 11 11 25 0 0 0 135695 299122 4161137 4801176 4103 4842 0 0 4300935 5105140 0 0 0 0 2523057 2948202 0 0 572770 1005345 1817661 3528402 4765863 772533 339277 6056042 6894343 803213 1302237 5252829 5592106 X PROVIDE SERVICES TO HELP RETAIN, ATTRACT, AND EXPAND BUSINESSES, CREATE JOBS, AND PROMOTE PRINCE GEORGE'S COUNTY, MARYLAND, REGIONALLY AND GLOBALLY. 0 0 909813 777681 THE PURPOSE OF THE PRINCE GEORGE'S COUNTY ECONOMIC DEVELOPMENT CORPORATION'S (EDC)COMMUNITY OUTREACH PROGRAM IS TO INFORM AND EDUCATE THE BUSINESS COMMUNITY ON VARIOUS PROGRAMS, INCENTIVES, AND ASSISTANCE AVAILABLE IN PRINCE GEORGE'S COUNTY FOR THE PURPOSE OF BUSINESS ATTRACTION, EXPANSION, AND RETENTION. 1874013 2417600 THE PURPOSE OF THE EDC'S BUSINESS DEVELOPMENT PROGRAM IS TO FACILITATE THE ECONOMIC GROWTH AND DEVELOPMENT OF PRINCE GEORGE'S COUNTY. 363832 690507 EDC'S INTERNATIONAL DEPARTMENT PROMOTES BUSINESS EXPANSION, ATTRACTION AND RETENTION OF PRINCE GEORGE'S COUNTY COMPANIES DOING BUSINESS INTERNATIONALLY. THE EDC IS FOCUSED ON EXPANDING AND GROWING EXPORTS FROM COUNTY'S BUSINESSES THROUGH OUTREACH, CONNECTING BUSINESSES WITH RESOURCES TO EXPLORE FOREIGN MARKETS AND INCREASE EXPORTING CAPACITY, AND SUPPORTING TRADE MISSIONS TO TARGET GLOBAL MARKETS. IN ADDITION, EDC'S FOCUS INCLUDES EXPANDING AND GROWING COUNTY'S BUSINESSES THROUGH THE ATTRACTION OF FOREIGN DIRECT INVESTMENT BY HOSTING FOREIGN BUSINESS, MATCHMAKING, SERVING AS A SOFT LANDING FOR FOREIGN COMPANIES AND PROMOTING PRINCE GEORGES COUNTY AS THE BEST PLACE FOR INTERNATIONAL BUSINESS. 196060 915388 EDC PROVIDES SMALL BUSINESSES WITH TECHNICAL ASSISTANCE, TRAININGS, AND SEMINARS ON IMPORTANT TOPICS INCLUDING BUSINESS OPERATIONS, MANAGEMENT, FINANCE, MARKETING, STRATEGIC PLANNING, BUSINESS DEVELOPMENT, AND HUMAN RESOURCES. SMALL BUSINESSES ARE ALSO CONNECTED WITH RESOURCE PARTNERS, PROCUREMENT OPPORTUNITIES, AND GUIDANCE ON FEDERAL, STATE, AND LOCAL INCENTIVES AND WORKFORCE PROGRAMS. 196060 915388 3343718 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 25 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X THE ORGANIZATION 3015834650 1801 MCCORMICK DRIVE SUITE 350 LARGO MD 20774 ORLAN JOHNSON CHAIRMAN 1.00 X X 0 0 0 MARVA JO CAMP VICE CHAIRMAN 1.00 X X 0 0 0 ANDREW ROUD TREASURER 1.00 X X 0 0 0 GARY MICHAEL TREASURER 1.00 X X 0 0 0 ANGIE RODGERS DIRECTOR 1.00 X 0 0 0 CONNIE EVANS DIRECTOR 1.00 X 0 0 0 JAMES R ESTEPP DIRECTOR 1.00 X 0 0 0 MELISSA LAVINSON DIRECTOR 1.00 X 0 0 0 JASON PETERMAN DIRECTOR 1.00 X 0 0 0 KERRY WATSON SECRETARY 1.00 X X 0 0 0 DR JOSEPH WRIGHT DIRECTOR 1.00 X 0 0 0 DAVID S IANNUCCI PRESIDENT/CEO 40.00 X 212051 0 13910 EBONY STOCKS EXECUTIVE VICE PRESIDENT 40.00 X 149711 0 37136 RAMSEY KOOJO CONTROLLER 40.00 X 137763 0 6888 LORI C VALENTINE VP OF POLICY AND PUBLIC RE 40.00 X 135081 0 47127 634606 0 105061 4 0 1 0 0 299122 299122 PRINCE GEORGE'S COUNTY 561000 3982600 3982600 INTERNATIONAL INCOME 561000 340506 340506 EVENT AND SPONSORSHIP 561000 276794 276794 OTHER INCOME 561000 70001 70001 INCUBATOR REVENUE 561000 66275 66275 65000 65000 4801176 4842 4842 5105140 4801176 0 4842 790727 531690 148056 110981 1652952 1088676 316357 247919 71542 52994 11924 6624 261826 193945 43638 24243 171155 126781 28526 15848 266609 197488 44435 24686 59537 44101 9923 5513 985930 730318 164322 91290 199563 147824 33260 18479 147881 109541 24647 13693 34704 25707 5784 3213 55026 40760 9171 5095 35686 26434 5948 3304 OTHER OPERATING EXPENSE 20318 15052 3384 1882 COUNTY INCUBATOR EXPENS 12407 12407 4765863 3343718 849375 572770 3824381 5176869 952068 952163 0 170222 994948 169414 176448 215694 1173600 963619 105079 209981 3118 0 6056042 6894343 545433 515215 251667 779109 6113 7913 803213 1302237 X 5252829 5592106 5252829 5592106 6056042 6894343 339277 0 X X 0 1 X 1 0 X 319825 284236 776888 135695 299122 1815766 497487 514437 517585 527937 2057446 319825 781723 1291325 653280 827059 3873212 3873212 8200 6167 4103 4842 23312 751297 751297 4647821 20545380 0.83330 0.93130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38400 38080 320 416242 214231 202011 718958 711308 7650 209981 INCUBATOR SERVICE AGREEMENT DEPOSITS 7913 7913 X 5633077 527937 527937 5105140 0 5105140 5293800 527937 527937 4765863 0 4765863 PART X, LINE 2: THE CORPORATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2022. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. THE CORPORATION'S FEDERAL EXEMPT TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED. X X 0 0 0 0 0 0 0 0 0 DAVID S IANNUCCI PRESIDENT/CEO 212051 0 0 0 0 0 10684 0 3226 0 225961 0 0 0 EBONY STOCKS EXECUTIVE VICE PRESIDENT 149711 0 0 0 0 0 7613 0 29523 0 186847 0 0 0 LORI C VALENTINE VP OF POLICY AND PUBLIC RE 135081 0 0 0 0 0 7041 0 40086 0 182208 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS THOROUGHLY REVIEWED BY THE CONTROLLER BEFORE IT IS PRESENTED TO THE FINANCE COMMITTEE FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE PGCEDC ADVISORY BOARD SHOULD ACT IN THE BEST INTEREST OF PGCEDC, RATHER THAN IN THE FURTHERANCE OF THEIR OWN PERSONAL INTERESTS OR THE INTERESTS OF THIRD PARTIES. AS A RESULT, BOARD MEMBERS SHALL AVOID ACTUAL, APPARENT OR POTENTIAL CONFLICTS OF INTEREST. SINCE NO POLICY CAN REFERENCE EVERY POTENTIAL CONFLICT, BOARD MEMBERS AGREE TO BE SENSITIVE TO TAC'S INTENT TO BE BEYOND REPROACH IN ITS ACTIONS. BOARD MEMBERS SHALL DISCLOSE TO THE CHAIRMAN OF THE BOARD ANY ACTUAL, APPARENT OR POTENTIAL CONFLICTS OF INTEREST AS SOON AS THE SITUATION ARISES. THIS INCLUDES INTERESTS THAT THEY MAY HAVE WITH ANY INDIVIDUAL OR ENTITY DOING BUSINESS WITH, OR PROPOSING TO DO BUSINESS WITH PGCEDC. FOR THE PURPOSE OF THIS POLICY, AN INTEREST SHALL BE CONSIDERED ANY OF THE FOLLOWING: A. EMPLOYMENT WITH SAID INDIVIDUAL OR ENTITY; B. A BUSINESS RELATIONSHIP WITH SAID INDIVIDUAL OR ENTITY; C. A FINANCIAL INTEREST, OTHER THAN HOLDING COMMON STOCK, WITH SAID ENTITY; D. A FAMILY RELATIONSHIP WITH SAID INDIVIDUAL OR THE PRINCIPALS OR EMPLOYEES OF SAID ENTITY. THIS DISCLOSURE SHALL INCLUDE THE NAME OF THE INDIVIDUAL OR ENTITY DOING BUSINESS, OR PROPOSING TO DO BUSINESS, WITH PGEEDC AND THE INTEREST THAT BOARD MEMBERS HAVE WITH SAID INDIVIDUAL OR ENTITY. FORM 990, PART VI, SECTION B, LINE 15 THE COUNTY EXECUTIVE NOMINATES THE PRESIDENT/CEO WHO MUST BE VETTED AND APPROVED BY THE BOARD OF DIRECTORS FOR PGCEDC. THE COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS AND MUST BE WITHIN THE SALARY RANGE APPROVED BY THE OFFICE OF MANAGEMENT & BUDGETS [OMB]. FORM 990, PART VI, SECTION C, LINE 19 THE EDC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED.