2024-05-14T17:50:13-04:00 2023-06-30 521094722 BERT SMITH & CO 1090 VERMONT AVE NW STE 920 WASHINGTON DC 200052125 990 2022-07-01 263871581 EAST BALTIMORE DEVELOPMENT FOUNDATION 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 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 2389 false X WWW.EBDI.ORG X 2008 MD AS A TYPE I SUPPORTING ORGANIZATION, AS DEFINED BY THE IRS, ALL PROGRAMS ARE EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF EAST BALTIMORE DEVELOPMENT, INC. (EBDI), THE SUPPORTED ORGANIZATION. EBDI, A RELATED ORGANIZATION, WAS FORMED IN 2002 AS A NON-STOCK CORPORATION WHOSE MISSION IS TO SUCCESFULLY 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 EDUCATIONAL OPPORTUNITIES. THE EAST BALTIMORE REVITALIZATION INITIATIVE LEVERAGES THE WORLD-CLASS HEALTH AND RESEARCH FACILITIES THAT ANCHOR AND ECONOMICALLY POWER THE NEIGHBORHOOD, THE CITY, AND THE REGION. 18 18 0 1 0 0 0 10115 2389 0 10115 2389 0 0 0 0 0 80575 80109 80575 80109 -70460 -77720 2131082 2056721 699729 703088 1431353 1353633 X AS A TYPE I SUPPORTING ORGANIZATION, AS DEFINED BY THE IRS, ALL PROGRAMS ARE EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF EAST BALTIMORE DEVELOPMENT, INC. (EBDI), THE SUPPORTED ORGANIZATION. EBDI, A RELATED ORGANIZATION, WAS FORMED IN 2002 AS A NON-STOCK CORPORATION WHOSE MISSION IS TO SUCCESFULLY 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 EDUCATIONAL OPPORTUNITIES. THE EAST BALTIMORE REVITALIZATION INITIATIVE LEVERAGES THE WORLD-CLASS HEALTH AND RESEARCH FACILITIES THAT ANCHOR AND ECONOMICALLY POWER THE NEIGHBORHOOD, THE CITY, AND THE REGION. false false 80060 EBDFI SUPPORTS AND CARRIES OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF EAST BALTIMORE DEVELOPMENT INC. WHICH FOCUSES ON EFFORTS TO REVITALIZE THE DISTRESSED COMMUNITY OF EAST BALTIMORE LOCATED IN THE CITY OF BALTIMORE, MARYLAND. 80060 true false false false false false false false false false false false false true true true false true false false false false false false false false false false false true false false false false false false false false false false false false true true false false false true 0 0 0 false false false false false false false false X 18 18 false true false false false false false true true false false false true true true true true true false false MD X X X CHERYL WASHINGTON 4102340660 929 N WOLFE STREET SUITE 1106 BALTIMORE MD 21205 CHERYL WASHINGTON PRESIDENT AN 1.00 40.00 X 0 257646 24515 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 257646 24515 false true false 2389 2389 2389 2389 19485 19485 47154 47154 OTHER EXPENSES 13421 13421 BANK CHARGES 49 49 80109 80060 49 0 892378 881306 414723 414723 1221 1221 801625 21135 759471 2131082 2056721 124670 143544 562807 547552 12252 11992 699729 703088 X 1431353 1353633 1431353 1353633 2131082 2056721 -77720 X false true X true false X X 1 EAST BALTIMORE DEVELOPMENT INC 270037508 7 true 0 0 1 0 true false false false false false false false false false false false false false false true false PROPERTY HELD FOR RESALE 754471 OTHER RECEIVABLE 5000 759471 INTEREST PAYABLE 11992 11992 X 2389 2389 2389 80109 80109 80109 SCHEDULE D, PAGE 3, PART X EBDFI 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, EBDFI 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 EBDFI HAVE TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. X X X false false false false false false false false false CHERYL WASHINGTON PRESIDENT AND CEO 257646 15441 9074 282161 SCHEDULE J, PART III THE ORGANIZATION PAID NO COMPENSATION TO ITS OFFICER. THE OFFICER WAS COMPENSATED THROUGH EAST BALTIMORE DEVELOPMENT INC.,A RELATED ORGANIZATION. THE ORGANIZATION RELIED ON EBDI TO DETERMINE COMPENSATION FOR ITS TOP MANAGEMENT OFFICIAL. EBDI USES COMPENSATION STUDIES AND APPROVAL BY THE BOARD TO DETERMINE COMPENSATION. FORM 990 - ORGANIZATION'S MISSION AS A TYPE I SUPPORTING ORGANIZATION, AS DEFINED BY THE IRS, ALL PROGRAMS ARE EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF EAST BALTIMORE DEVELOPMENT, INC. (EBDI), THE SUPPORTED ORGANIZATION. EBDI, A RELATED ORGANIZATION, WAS FORMED IN 2002 AS A NON-STOCK CORPORATION WHOSE MISSION IS TO SUCCESFULLY 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 EDUCATIONAL OPPORTUNITIES. THE EAST BALTIMORE REVITALIZATION INITIATIVE LEVERAGES THE WORLD-CLASS HEALTH AND RESEARCH FACILITIES THAT ANCHOR AND ECONOMICALLY POWER THE NEIGHBORHOOD, THE CITY, AND THE REGION. FORM 990, PAGE 6, PART VI, LINE 3 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 EBDI 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 EBDFI 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 EBDFI AND AN INTERESTED PARTY, THE EBDI PRESIDENT AND CEO SHALL DETERMINE THE APPROPRIATE ORGANIZATIONAL RESPONSE. WHERE THE ACTUAL OR POTENTIAL CONFLICT EXISTS, THE EBDI PRESIDENT AND CEO SHALL REVIEW THE MATTER AND TAKE APPROPRIATE ACTION AS NECESSARY TO PROTECT THE INTERESTS OF EBDFI. THE EBDI CEO SHALL REPORT TO THE CHAIRMAN THE RESULTS OF ANY REVIEW AND THE ACTION PROPOSED TO BE TAKEN. THE EBDI 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 EBDFI 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 EBDFI DOES NOT HAVE ANY EMPLOYEES. THE PRESIDENT AND CEO IS COMPENSATED BY EBDI FOR HER SERVICES PERFORMED FOR EBDFI. 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 CEO. THE EBDI CEO WILL ARRANGE A MUTUALLY CONVENIENT TIME FOR REVIEW AT THE MAIN OFFICE AT 929 N. WOLFE STREET, BALTIMORE, MARYLAND. 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