2024-05-14T15:30:57-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-07-01 521810772 ANNE ARUNDEL ECONOMIC DEVELOPMENT CORPORATION ANNE 4102227410 2660 RIVA ROAD 200 ANNAPOLIS MD 21401 ERIC DEVITO CHAIRMAN 4102227410 2024-05-14 1 ERIC DEVITO XXX-XX-XXXX 0 ROBERT WILLIAMS P01345960 5712279500 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIC DEVITO 2660 RIVA ROAD 200 ANNAPOLIS MD 21401 3689720 0 X WWW.AAEDC.ORG X 1993 MD TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING FINANCING OPTIONS AND PROVIDE ECONOMIC INFORMATION. 13 13 19 13 0 0 3242370 3175468 707641 507807 1916 6445 0 0 3951927 3689720 564619 356683 0 0 2214519 2401699 0 0 0 797146 964007 3576284 3722389 375643 -32669 9320610 10622173 7288965 8623197 2031645 1998976 TO SERVE BUSINESS NEEDS AND TO INCREASE ANNE ARUNDEL COUNTY ECONOMIC BASE THROUGH JOB GROWTH AND INVESTMENT. 0 0 653840 499121 FINANCIAL SERVICES:PROVIDES LOANS TO BUSINESSES LOCATED IN OR RELOCATING TO, ANNE ARUNDEL COUNTY, MARYLAND. THE PROGRAM IS FOR THE PURPOSE OF ENCOURAGING BUSINESS DEVELOPMENT WITHIN THE COUNTY. 1701474 356683 ANNE ARUNDEL ECONOMIC DEVELOPMENT CORPORATION SERVES AS A MANAGER OF MARYLAND SMALL MINORITY AND WOMEN-OWNED BUSINESS LOAN FUND, WHICH RECEIVES 1.5% OF VIDEO LOTTERY TERMINAL REVENUE FROM MARYLAND CASINOS. SMALL AND MINORITY, WOMEN AND VETERAN OWNED BUSINESSES LOCATED WITHIN 10 MILES OF ANY OF MARYLAND'S THREE CASINOS AND THOSE LOCATED ELSEWHERE IN THE STATE MAY BE ELIGIBLE FOR LOANS OF BETWEEN $25,000 TO $500,000 FOR PURPOSES SUCH AS BUSINESS AND COMMERCIAL REAL ESTATE ACQUISITION AND EXPANSION, LEASEHOLD IMPROVEMENTS, EQUIPMENT AND VEHICLE PURCHASE, AND WORKING CAPITAL. 230904 8686 AGRICULTURAL MARKETING:PROVIDING LEASING OF AGRICULTURAL EQUIPMENT AND OBJECTS AND TO PROMOTE AND ENCOURAGE THE DEVELOPMENT OF AGRICULTURE IN ANNE ARUNDEL COUNTY AND SOUTHERN MARYLAND. 2586218 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 110 0 19 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X LISA GRUNDER 4102227410 2660 RIVA ROAD SUITE 200 ANNAPOLIS MD 21401 ERIC DEVITO CHAIRMAN OF THE BOARD 10.00 X X 0 0 0 KEVIN CARTER VICE CHAIR 5.00 X X 0 0 0 JOEL ROZNER VICE CHAIR TO MAR 2022 5.00 X X 0 0 0 JEFFERY ARMIGER TREASURER 5.00 X X 0 0 0 KATHLEEN MCCOLLUM SECRETARY 5.00 X X 0 0 0 PHIONA BAREEBE BOARD MEMBER 2.00 X 0 0 0 ANN BRENNAN BOARD MEMBER 2.00 X 0 0 0 HAMILTON CHANEY BOARD MEMBER 2.00 X 0 0 0 M JAMES FAISON BOARD MEMBER 2.00 X 0 0 0 STUART FORSYTH BOARD MEMBER 2.00 X 0 0 0 PAUL GABLE BOARD MEMBER 5.00 X 0 0 0 KAYLA GRIFFITH BOARD MEMBER 2.00 X 0 0 0 TYLER PATTON BOARD MEMBER 2.00 X 0 0 0 ELIOT POWELL BOARD MEMBER 2.00 X 0 0 0 KEVIN NOLAN BOARD MEMBER TO FEB 2023 2.00 X 0 0 0 MARIAM NASSIER-PELLETIER BOARD MEMBER TO MAY 2023 2.00 X 0 0 0 STEPHEN PRIMOSCH V.P. OF FINANCIAL SERVICES 40.00 X 129824 0 61160 AMY GOWAN PRESIDENT/CEO FROM APRIL 2023 40.00 X 0 0 0 JILL SEAMON ADMINISTRATIVE OFFICER 40.00 X 141927 0 47314 ROSA CRUZ-PENEFIEL V.P. OF COMMUNICATIONS 40.00 X 129824 0 67044 WESLEY MACQUILLIAM V.P., BUS. DEV'T & REAL ES 40.00 X 125672 0 34279 527247 0 209797 4 0 1 0 0 3175468 3175468 FINANCIAL SERVICES 561499 499121 499121 AGRICULTURAL MARKETING 561499 8686 8686 507807 6445 6445 3689720 507807 0 6445 356683 356683 845669 845669 1045927 482660 563267 375624 192508 183116 -426 -24753 24327 134905 89037 45868 35395 35395 22104 22104 317947 138700 179247 117223 114617 2606 33736 31920 1816 52010 18438 33572 36946 34935 2011 8025 8025 49104 38443 10661 19149 10949 8200 BAD DEBT 97217 97217 SPECIAL EVENTS 64503 64503 TRAINING EXPENSES 56396 56396 RESEARCH 38296 38296 15956 15956 3722389 2586218 1136171 0 5296155 5599863 880724 882773 1302066 1259166 6209 9987 665140 465899 229391 199241 1606065 2671143 9320610 10622173 458650 448758 919577 1494591 5910738 6679848 7288965 8623197 X 1444096 1389762 205344 197482 382205 411732 2031645 1998976 9320610 10622173 -32669 0 X 0 1 X 1 0 X 1462500 3513770 28391842 3242370 2175468 38785950 1000000 1000000 1000000 1000000 1000000 5000000 376623 304200 327655 411709 244665 1664852 2839123 4817970 29719497 4654079 3420133 45450802 45450802 11145 9056 13929 1916 6445 42491 45493293 5867955 0.99910 0.99900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 213560 97928 115632 276043 260295 15748 175537 107676 67861 199241 DUE FROM OTHER FUNDS 580693 DEFERRED OUTFLOWS OF RESOURCES 2090450 2671143 CAPITAL LEASE PAYABLE 1759 PENSION LIABILITY 3889217 OPEB LIABILITY 2763997 DEFERRED INFLOWS OF RESOURCES 24875 6679848 3934385 244665 244665 3689720 0 3689720 3967054 244665 244665 3722389 0 3722389 1 WILLIAM HOLMES CONSULTING 414 LIGHT STREET UNIT 3312 BALTIMORE MD 21202 270656973 100000 0 N/A N/A IVP - INCLUSIVE VENTURES PROGRAM VITAMIN INC 720 LIGHT STREET BALTIMORE MD 21230 562308087 31683 0 N/A N/A OPS - OPERATING 0 2 PART I, LINE 2: DURING THE INITIAL REVIEW OF APPLICATION FOR FUNDS, APPLICANTS ARE SCREENED FOR THE FOLLOWING: - ENSURE THEY ARE IN GOOD STANDING WITH THE STATE OF MARYLAND - ENSURE THE APPLICATION IS COMPLETE. IF THEY REQUESTING UPFRONT MONEY ENSURE BUDGET HAS LIST OF VENDORS, AMOUNT OF PAYMENT AND PRODUCTS/SERVICES BEING PURCHASED BROKEN OUT PER VENDOR. ACTUAL INVOICES/ BILLS CAN ALSO BE UPLOADED. VENDOR LIST OR INVOICES SHOULD INCLUDE VENDOR NAME, ADDRESS, PHONE NUMBER, AND WEBSITE. - IF THEY ARE REQUESTING REIMBURSEMENT, APPLICANTS INCLUDE A BUDGET WITH THE SAME REQUIREMENTS NOTED ABOVE AND INCLUDE AND RECEIPTS, PAID INVOICES, AND/OR CANCELLED CHECKS. AFTER APPROVAL OF THE APPLICATION, A GRANT AGREEMENT IS DRAFTED AND SENT TO THE RECIPIENTS. ACH AND W-9 INFORMATION IS OBTAINED, AND FUNDING IS SENT VIA ACH. ANNE ARUNDEL ECONOMIC DEVELOPMENT CORPORATION FOLLOWS UP ON THE RECEIPTS AND PAID INVOICES, WHICH ARE DUE 90 DAYS FROM THE DISBURSEMENT OF FUNDS TO THE RECIPIENTS. 0 0 0 0 0 0 0 0 0 ROSA CRUZ-PENEFIEL V.P. OF COMMUNICATIONS 129824 0 0 0 0 0 35303 0 31741 0 196868 0 0 0 STEPHEN PRIMOSCH V.P. OF FINANCIAL SERVICES 129824 0 0 0 0 0 35303 0 25857 0 190984 0 0 0 JILL SEAMON ADMINISTRATIVE OFFICER 141927 0 0 0 0 0 38598 0 8716 0 189241 0 0 0 WESLEY MACQUILLIAM V.P., BUS. DEV'T & REAL ES 125672 0 0 0 0 0 34161 0 118 0 159951 0 0 0 PART I, LINE 3 THE ORGANIZATION'S PRESIDENT/CEO IS PAID BY ANNE ARUNDEL COUNTY. FORM 990, PART VI, SECTION A, LINE 1A THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD CONSISTING OF THE ELECTED OFFICERS OF THE CORPORATION. THE CORPORATION'S PRESIDENT/CHIEF EXECUTIVE OFFICER SHALL BE AN EX OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE EMPOWERED TO ACT ON BEHALF OF THE BOARD OF DIRECTORS ON ANY ISSUE EXCEPT ELECTIONS AND AMENDMENTS TO THE ARTICLES OF INCORPORATION OR TO THE BY-LAWS AND SHALL REPORT ALL ACTIONS TAKEN AT THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO THE DIRECTORS OF THE ORGANIZATION. A DIRECTOR SHALL DISCLOSE TO THE BOARD OF DIRECTORS ANY INTEREST THAT THE DIRECTOR MAY HAVE, AS WELL AS ANY KNOWN INTEREST HELD BY THE DIRECTOR'S SPOUSE OR BY ANY RELATIVE OF THE DIRECTOR OR THE DIRECTOR'S SPOUSE, IN ANY CONTRACT OR TRANSACTION UNDER CONSIDERATION BY THE CORPORATION. IF A DIRECTOR IS ALSO A DIRECTOR IN A CORPORATION, FIRM, OR OTHER ENTITY WITH WHICH THE CORPORATION PROPOSES TO CONTRACT OR OTHERWISE TRANSACT BUSINESS, THE DIRECTOR SHALL DISCLOSE THAT FACT AS WELL. EXCEPT FOR ADMINISTRATIVE OR MINISTERIAL DUTIES THAT DO NOT AFFECT THE DISPOSITION OR DECISION, THE DIRECTOR SHALL NOT VOTE UPON OR PARTICIPATE IN ANY WAY IN ANY CONTRACT OR TRANSACTION WITH A RELATIVE OF A DIRECTOR OR WITH A CORPORATION, FIRM, OR OTHER ENTITY IN WHICH THE DIRECTOR HAS AN INTEREST OR IN WHICH THE DIRECTOR IS A DIRECTOR. THE DIRECTOR SHALL LEAVE THE ROOM DURING CONSIDERATION, DISCUSSION, AND VOTING ON THE MATTER. THE PRESENCE OF THE INTERESTED DIRECTOR MAY BE COUNTED FOR PURPOSES OF DETERMINING A QUORUM AT THE MEETING. EACH DIRECTOR SHALL FILE ON AT LEAST A YEARLY BASIS THE ATTACHED DIRECTOR'S AND OFFICER'S DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.