2024-05-14T17:58:22-04:00 2023-06-30 521094722 BERT SMITH & CO 1090 VERMONT AVE NW STE 920 WASHINGTON DC 200052125 990 2022-07-01 270037508 EAST BALTIMORE DEVELOPMENT INC EAST 4102340660 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 CHERYL WASHINGTON PRESIDENT AND CEO 4102340660 2024-05-14 CHERYL WASHINGTON 999009999 false STEPHANIE LANE CPA P00606886 2023935600 2024-05-14 2022 2023-04-26 12:10:37Z CHERYL WASHINGTON 919 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 8589679 false X WWW.EBDI.ORG X 2002 MD EBDI'S MISSION IS TO SUCCESSFULLY ATTRACT MARKET-ORIENTED INVESTMENT, DEVELOPMENT, POPULATION AND ENTERPRISE TO THE EAST BALTIMORE COMMUNITY WHILE EQUIPPING COMMUNITY RESIDENTS WITH THE SKILLS, INFORMATION, AND RESOURCES THEY NEED TO BENEFIT FROM NEW HOUSING, EMPLOYMENT, BUSINESS, AND AND EDUCATIONAL OPPORTUNITIES. 17 17 8 21 0 2702162 8312531 670500 133462 23046697 2783 3843585 140903 30262944 8589679 272572 0 1005569 1241576 0 0 8627359 1997841 9632928 3511989 20630016 5077690 12751192 18690336 100009 961463 12651183 17728873 X EBDI'S MISSION IS TO SUCCESSFULLY ATTRACT MARKET-ORIENTED INVESTMENT, DEVELOPMENT, POPULATION AND ENTERPRISE TO THE EAST BALTIMORE COMMUNITY WHILE EQUIPPING COMMUNITY RESIDENTS WITH THE SKILLS, INFORMATION, AND RESOURCES THEY NEED TO BENEFIT FROM NEW HOUSING, EMPLOYMENT, BUSINESS, AND AND EDUCATIONAL OPPORTUNITIES. false false 2371792 272572 277148 EBDI WORKED WITH DEVELOPERS, THE CITY OF BALTIMORE, AND THE STATE OF MARYLAND TO COMPLETE PRE-DEVELOPMENT ACTIVITIES NECESSARY TO MAKE WAY FOR FOUR NEW RESIDENTIAL DEVELOPMENT PROJECTS THAT WILL YIELD OVER 500 UNITS OF MARKET-RATE AND AFFORDABLE RENTAL AND FOR-SALE HOMES. IN ADDITION, THE DEVELOPMENT OF THE NEXT COMMERCIAL/LAB BUILDING IS UNDERWAY AND THE SITE FOR A FUTURE GROCERY STORE/MIXED USE DEVELOPMENT HAS BEEN IDENTIFIED. EBDI ULTIMATELY PLANS TO BUILD AN ADDITIONAL 500 UNITS OF MIXED-INCOME HOUSING ALONG WITH TWO TO THREE ADDITIONAL COMMERCIAL BUILDINGS AND A PARKING GARAGE OVER THE NEXT 10 YEARS. EBDI CONSIDERS ITS APPROACH TO BE "RESPONSIBLE REDEVELOPMENT" WITH A FOCUS ON ECONOMIC AND COMMUNITY DEVELOPMENT EFFORTS THAT ARE INCLUSIVE AND MITIGATE THE EFFECTS OF GENTRIFICATION. 2371792 true true false false false false false false false false true false false false false true false true false false false false false false false false false true false true false false false false false false false false true false false false true true true false false false true 22 0 8 true false false false false false false false false X 17 17 false true false false false false false true true false false true true true true true true true false false X X X CHERYL WASHINGTON 4102340660 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 CHERYL WASHINGTON PRESIDENT AN 40.00 X 257646 0 24515 KAREN JOHNSON CHF REAL EST 40.00 X 249923 0 30891 JOHNNY COLEMAN BOARD MEMBER 1.00 X 0 0 0 RONALD DANIELS BOARD MEMBER 1.00 X 0 0 0 ANTONIO GLOVER BOARD MEMBER 1.00 X 0 0 0 THOMASINA HIERS SECRETARY 1.00 X X 0 0 0 JEANNE HITCHCOCK CHAIRPERSON 1.00 X X 0 0 0 GAVIN JOHNSON BOARD MEMBER 1.00 X 0 0 0 VENROY JULY BOARD MEMBER 1.00 X 0 0 0 TRACY KARTYE BOARD MEMBER 1.00 X 0 0 0 ANTHONY KING TREASURER 1.00 X X 0 0 0 CORY MCCRAY BOARD MEMBER 1.00 X 0 0 0 ABRAHAM ROSENTHAL BOARD MEMBER 1.00 X 0 0 0 TODD SCOTT BOARD MEMBER 1.00 X 0 0 0 TABER SMALL BOARD MEMBER 1.00 X 0 0 0 ROBERT STOKES SR BOARD MEMBER 1.00 X 0 0 0 COLIN TARBERT BOARD MEMBER 1.00 X 0 0 0 CARON WATKINS BOARD MEMBER 1.00 X 0 0 0 JUSTIN WILLIAMS BOARD MEMBER 1.00 X 0 0 0 507569 55406 2 false true false THE NELSON IDEATION GROUP LLC 23 SHERATON RD RANDALLSTOWN MD 21133 MONITORING 132320 NELSON MULLINS RILEY AND SCARBOROUGH 100 S CHARLES STREET SUITE 1200 BALTIMORE MD 21201 LEGAL 125060 NICOLE M HARRELL CPA LLC 3701 OLD COURT ROAD STE 20A PIKESVILLE MD 21208 ACCOUNTING 121645 ROBERT MELLO 1728 JACKSON STREET BALTIMORE MD 21230 CONSULTANT 112251 4 798586 7513945 6600000 8312531 DEVELOPERS FEE 110862 110862 PROGRAM FEES 22600 22600 133462 2783 2783 131403 131403 131403 131403 OTHER REVENUE 9500 9500 9500 8589679 277148 X 272572 272572 260100 113300 146800 760928 331471 429457 43972 19155 24817 113713 49535 64178 62863 27384 35479 139238 129815 9423 201011 201011 546132 546132 248 248 42685 42685 10452 10452 120767 120767 5896 5896 8293 8293 230512 230512 102065 75189 26876 PROPERTY OPERATING COSTS 507981 507981 PROPERTY AND SPECIAL TAXE 54557 54557 OTHER EXPENSES 28004 28004 3511989 2371792 1140197 0 1338991 1048605 271218 15179 19470 19105386 1774927 11125804 17330459 291802 12751192 18690336 91509 830338 8500 131125 100009 961463 X 12438766 17516456 212417 212417 12651183 17728873 12751192 18690336 5077690 X false true X true false X 2719739 1906266 4173163 2702162 1712531 13213861 2719739 1906266 4173163 2702162 1712531 13213861 862317 12351544 3 111015 134186 245204 33420 15038 54 4000 9500 62012 13521077 133462 0.91350 0.88380 X PART II, LINE 10 62,012 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16557840 16557840 463301 457494 5807 2084245 1317433 766812 17330459 X 8592068 2389 2389 8589679 8589679 3592098 80109 80109 3511989 3511989 SCHEDULE D, PAGE 3, PART X EBDI ADOPTED GUIDANCE IN THE FASB ASC TOPIC, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, EBDI MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES, BASED ON UPON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINITY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST, AND PENALITIES ON INCOME TAXES AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED EBDI'S TAX POSITIONS AND CONCLUDED THAT EBDI HAVE TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. SCHEDULE D, PAGE 4, PART XI, LINE 2D EAST BALTIMORE DEVELOPMENT FOUNDATION 2,389 SCHEDULE D, PAGE 4, PART XII, LINE 2D EAST BALTIMORE DEVELOPMENT FOUNDATION 80,109 true BRNI 1212 N WOLFE ST BALTIMORE MD 21213 250000 HEBCAC REPAIRS BRNI 1717 HENNEMAN AVENUE BALTIMORE MD 21213 22572 EAST END REPAIRS X X false false false false false false false false false CHERYL WASHINGTON PRESIDENT AND CEO 257646 15441 9074 282161 KAREN JOHNSON CHF REAL ESTATE OFC 249923 14175 16716 280814 X 1 6600000 FMV false false false FORM 990 - ORGANIZATION'S MISSION EBDI'S MISSION IS TO SUCCESSFULLY ATTRACT MARKET-ORIENTED INVESTMENT, DEVELOPMENT, POPULATION AND ENTERPRISE TO THE EAST BALTIMORE COMMUNITY WHILE EQUIPPING COMMUNITY RESIDENTS WITH THE SKILLS, INFORMATION, AND RESOURCES THEY NEED TO BENEFIT FROM NEW HOUSING, EMPLOYMENT, BUSINESS, AND AND EDUCATIONAL OPPORTUNITIES. FORM 990, PAGE 2, PART III, LINE 4A EBDI WORKED WITH DEVELOPERS, THE CITY OF BALTIMORE, AND THE STATE OF MARYLAND TO COMPLETE PRE-DEVELOPMENT ACTIVITIES NECESSARY TO MAKE WAY FOR FOUR NEW RESIDENTIAL DEVELOPMENT PROJECTS THAT WILL YIELD OVER 500 UNITS OF MARKET-RATE AND AFFORDABLE RENTAL AND FOR-SALE HOMES. IN ADDITION, THE DEVELOPMENT OF THE NEXT COMMERCIAL/LAB BUILDING IS UNDERWAY AND THE SITE FOR A FUTURE GROCERY STORE/MIXED USE DEVELOPMENT HAS BEEN IDENTIFIED. EBDI ULTIMATELY PLANS TO BUILD AN ADDITIONAL 500 UNITS OF MIXED-INCOME HOUSING ALONG WITH TWO TO THREE ADDITIONAL COMMERCIAL BUILDINGS AND A PARKING GARAGE OVER THE NEXT 10 YEARS. EBDI CONSIDERS ITS APPROACH TO BE "RESPONSIBLE REDEVELOPMENT" WITH A FOCUS ON ECONOMIC AND COMMUNITY DEVELOPMENT EFFORTS THAT ARE INCLUSIVE AND MITIGATE THE EFFECTS OF GENTRIFICATION. FORM 990, PAGE 6, PART VI, LINE 3 EBDI DELEGATED PORTIONS OF ITS ACCOUNTING FUNCTIONS TO TWO INDIVIDUALS. NICOLE M HARRELL, CPA ANALYZES AND RECONCILES THE ACCOUNT BALANCES; PREPARES THE FINANCIAL REPORTS, 990 SCHEDULES, AND THE FINANCE COMMITTEE AND BOARD PACKAGES QUARTERLY MEETINGS; ASSISTS WITH THE ANNUAL AUDIT; AND REVIEWS THE MONTHLY FINANCIAL STATEMENTS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 WAS REVIEWED BY THE PRESIDENT AND CEO AND THE FINANCE/AUDIT COMMITTEE PRIOR TO SUBMISSION. THE FINANCE/AUDIT COMMITTEE INCLUDES SENIOR MANAGERS FROM SEVERAL FOUNDATIONS AND PARTNERS WITH NATIONAL AND LOCAL ACCOUNTING FIRMS. THE COMMENTS FROM THE REVIEW TEAM ARE INCORPORATED INTO THE FINAL DOCUMENT AND THEN EMAILED TO THE FULL BOARD OF DIRECTORS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C EBDI HAS A WRITTEN CONFLICT OF INTEREST POLICY. KEY EMPLOYEES, OFFICERS, AND DIRECTORS UPDATE THEIR DISCLOSURE STATEMENT ANNUALLY. WHENEVER THERE IS A REASON TO BELIEVE THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN EBDI AND AN INTERESTED PARTY, THE BOARD OF DIRECTORS SHALL DETERMINE THE APPROPRIATE ORGANIZATIONAL RESPONSE. WHERE THE ACTUAL OR POTENTIAL CONFLICT EXISTS, THE PRESIDENT AND CEO SHALL REVIEW THE MATTER AND TAKE APPROPRIATE ACTION AS NECESSARY TO PROTECT THE INTERESTS OF EBDI. THE CEO SHALL REPORT TO THE CHAIRMAN THE RESULTS OF ANY REVIEW AND THE ACTION PROPOSED TO BE TAKEN. THE CHAIRMAN, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, SHALL DETERMINE IF ANY FURTHER BOARD REVIEW OR ACTION IS REQUIRED. AN INTERESTED PARTY WHO HAS AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A PROPOSED ACTION OR TRANSACTION WITH EBDI SHALL NOT PARTICIPATE IN ANY WAY IN, OR BE PRESENT DURING, THE DELIBERATIONS AND DECISION MAKING RELATED TO THE PROPOSED ACTION OF TRANSACTION. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION OF THE PRESIDENT AND CEO IS ESTABLISHED BY THE BOARD OF DIRECTORS AND IS DETERMINED AND DOCUMENTED ANNUALLY BASED ON UPON COMPARABLE COMPENSATION DATA. BONUSES FOR THE PREVIOUS YEAR ARE DETERMINED BASED UPON ACHIEVEMENT OF SPECIFIC ORGANIZATION GOALS. THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS ESTABLISHED BY THE PRESIDENT AND CEO WITH APPROVAL OF THE BOARD OF DIRECTORS THROUGH THE BUDGET PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 ORGANIZATIONAL DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104D, UPON WRITTEN REQUEST TO EBDI. EBDI WILL ARRANGE A MUTUALLY CONVENIENT TIME FOR REVIEW AT EBDI'S MAIN OFFICE AT 929 N. WOLFE STREET, BALTIMORE, MARYLAND. FORM 990, PART IX, LINE 11G CONTRACTUAL SERVICES 546,132 0 0 929 N WOLFE STREET LLC 929 N WOLFE ST SUITE 1106 BALTIMORE MD 21205 MANAGEMENT MD N/A 1809 ASHLAND AVENUE LLC 929 N WOLFE ST SUITE 1106 BALTIMORE MD 21205 MANAGEMENT MD N/A R ONE DEVELOPMENT LLC 929 N WOLFE ST SUITE 1106 BALTIMORE MD 21205 MANAGEMENT MD N/A EAST BALTIMORE DEVELOPMENT FOUNDATION INC 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 263871581 CHARITABLE MD 501C3 N/A true 929 N WOLFE STREET LLC 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 549300623 CHARITABLE MD 501C3 7 N/A false false false false false false false false false false false false false false false false false false false false