2025-01-29T13:27:15-06:00 2024-06-30 521022232 SNYDER COHN PC 11200 ROCKVILLE PIKE SUITE 415 NORTH BETHESDA MD 20852 990 2023-07-01 522056731 ROCKVILLE ECONOMIC DEVELOPMENT INC ROCK 3013158096 51 MONROE STREET PE-20 ROCKVILLE MD 20850 CYNTHIA RIVARDE CHIEF EXECUTIVE OFFICER 3013158096 2025-01-28 1 0 KEITH JENNINGS P01319883 3016526700 2025-01-28 2023 2025-03-06 01:10:19Z CYNTHIA RIVARDE 51 MONROE STREET PE-20 ROCKVILLE MD 20850 1994068 0 X WWW.ROCKVILLEREDI.ORG X 1997 MD TO IDENTIFY AND DEVELOP ECONOMIC OPPORTUNITIES TO HELP ROCKVILLE PROSPER. 22 22 15 23 0 0 2215580 1901347 159550 84106 637 8473 6370 142 2382137 1994068 597250 415180 0 0 994519 1083178 0 0 2175 640954 713849 2232723 2212207 149414 -218139 2358526 1882929 1009602 752144 1348924 1130785 TO IDENTIFY AND DEVELOP ECONOMIC OPPORTUNITIES TO HELP ROCKVILLE PROSPER. 0 0 1136225 415180 0 ECONOMIC DEVELOPMENT ACTIVITIES INCLUDING BUSINESS RECRUITMENT, DEVELOPMENT AND BUSINESS RETENTION. REDI ALSO MANAGES INCENTIVE PROGRAMS TO ENCOURAGE NEW BUSINESS LOCATIONS & EXISTING BUSINESS EXPANSIONS IN THE CITY OF ROCKVILLE. 865526 84106 THE MARYLAND WOMEN'S BUSINESS CENTER (MWBC), A PROGRAM OF REDI, HELPS MARYLAND CAPITAL REGION'S DIVERSE POPULATION START AND BUILD SUCCESSFUL WOMEN-OWNED ENTERPRISES THAT ARE POSITIONED FOR LONG-TERM GROWTH IN OUR COMMUNITY. MWBC CONDUCTS TRAINING, OFFERS TECHNICAL ASSISTANCE, AND PROVIDES RESOURCES FOR ENTREPRENEURS SEEKING TO START AND GROW WOMEN-OWNED ENTERPRISES IN OUR COMMUNITY. SPECIAL INITIATIVES INCLUDE A CHILDCARE BUSINESS DEVELOPMENT PROGRAM AND RETAIL INCUBATOR. 2001751 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 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 24 0 1 15 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X CYNTHIA RIVARDE 3013158096 51 MONROE STREET PE-20 ROCKVILLE MD 20850 SUSAN PRINCE CHAIR 4.00 X X 0 0 0 NANCY REGELIN VICE CHAIR 1.00 X X 0 0 0 BEI MA VICE CHAIR 1.00 X X 0 0 0 TODD PEARSON TREASURER 4.00 X X 0 0 0 NIKHIL BIJLANI DIRECTOR 1.00 X 0 0 0 SUZANNE OSBORN DIRECTOR 1.00 X 0 0 0 MARJI GRAF DIRECTOR 1.00 X 0 0 0 RICHARD ALVAREZ DIRECTOR 1.00 X 0 0 0 BRIDGET NEWTON UNITL NOV 2023 DIRECTOR 1.00 X 0 0 0 ANGELA CHANEY DIRECTOR 1.00 X 0 0 0 MORGAN SULLIVAN DIRECTOR 1.00 X 0 0 0 MICHAEL SCOTT DIRECTOR 1.00 X 0 0 0 BEN ANSTROM DIRECTOR 1.00 X 0 0 0 LAVONNE TORRENCE BERNER DIRECTOR 1.00 X 0 0 0 CLIFF VIERS DIRECTOR 1.00 X 0 0 0 JUSTIN YANG DIRECTOR 1.00 X 0 0 0 ALTON J HENLEY DIRECTOR 1.00 X 0 0 0 ROB DISPIRITO UNTIL 92023 DIRECTOR 1.00 X 0 0 0 NICK FULLENKAMP DIRECTOR 1.00 X 0 0 0 KELLY GROFF DIRECTOR 1.00 X 0 0 0 BARACK MATITE UNTIL 112023 DIRECTOR 1.00 X 0 0 0 CRAIG SIMONEAU DIRECTOR 1.00 X 0 0 0 CARLA MERRITT DIRECTOR 1.00 X 0 0 0 MONIQUE ASHTON SINCE NOV 2023 DIRECTOR 1.00 X 0 0 0 BILL TOMPKINS EX-OFFICIO DIRECTOR 1.00 X 0 0 0 CYNTHIA RIVARDE CHIEF EXECUTIVE OFFICER 40.00 X 199657 0 7369 RICHELLE WILSON DEPUTY DIRECTOR 40.00 X 117170 0 4669 DANETTE NGUYEN MWBC MANAGING DIRECTOR 40.00 X 111963 0 4587 428790 0 16625 3 0 1 0 0 1834810 66537 1901347 MWBC PROGRAM INCOME 900099 84106 84106 84106 8473 8473 OTHER REVENUE 900099 142 142 142 1994068 84106 0 8615 415180 415180 217223 188984 28239 694255 672998 21257 20773 18073 2700 83169 79645 3524 67758 65537 2221 3900 3393 507 101693 101693 138117 131383 6734 173530 171094 2436 85217 57983 25059 2175 2749 2392 357 115040 110602 4438 15808 14800 1008 17577 9904 7673 7276 7041 235 SEMINARS AND EDUCATION 33920 33920 BUSINESS RECRUITMENT 13677 13677 BUSINESS RETENTION 5145 5145 OTHER TAXES 200 200 2212207 2001751 208281 2175 251363 250143 1350968 1035018 167500 169900 112711 30462 3418 9448 71555 69356 3665 2199 47469 38463 421432 347296 2358526 1882929 190389 118271 819213 633873 1009602 752144 X 1088427 930288 260497 200497 1348924 1130785 2358526 1882929 -218139 0 X X 0 1 X 1 0 X X 1 CITY OF ROCKVILLE 526001573 6 1 1136225 0 1 1136225 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50974 50974 0 13851 11652 2199 6730 6730 0 2199 SECURITY DEPOSIT 2337 RIGHT OF USE ASSET-OPERATING 330465 RIGHT OF USE ASSET-FINANCING 14494 347296 REFUNDABLE ADVANCES 231570 LEASE LIABILITY-OPERATING 387432 LEASE LIABILITY-FINANCE 14871 633873 X 1994068 0 1994068 0 1994068 2212207 0 0 2212207 0 2212207 PART X, LINE 2: REDI ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX EFFECT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE ACCRUED AS A COMPONENT OF GENERAL AND ADMINISTRATIVE EXPENSES WHEN ASSESSED. REDI HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) AND ITS DETERMINATION THAT IT HAS NO UNRELATED BUSINESS INCOME AS TAX POSITIONS; HOWEVER, THE ORGANIZATION HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. INCOME TAX YEARS ENDED PRIOR TO JUNE 30, 2021 ARE NO LONGER SUBJECT TO AUDIT BY TAXING AUTHORITIES. 1 DM ROCKVILLE LLC DBA DAWSON'S MARKET 225 N WASHINGTON STREET ROCKVILLE MD 20850 832414572 200000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. CHANEY COMMUNICATIONS 199 E MONTGOMERY AVE STE 100 ROCKVILLE MD 20850 850987882 15000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. NATURE BY TREJOK 130 GIBBS ST UNIT B ROCKVILLE MD 20850 843809420 15000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. DECIPHER EVENTS LLC 23209 TALL POPLAR DR CLARKSBURG MD 20871 812625360 24900 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. LAUNCH SP LLC 702 KING FARM BLVD SUITE 150 ROCKVILLE MD 20850 834690023 25000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. WALKING LIBERTY LLC 302 KING FARM BLVD UNIT 140 ROCKVILLE MD 20850 844333981 25000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. UNLIMITED DETAILING 2383 LEWIS AVE ROCKVILLE MD 20850 260536476 20000 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. MONTAGE MARKETING GROUP LLC 535 SOUTHLAWN LANE ROCKVILLE MD 20850 472971390 34800 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. PREMIUM HOME HEALTH CARE LLC 1401 ROCKVILLE PIKE SUITE 110 ROCKVILLE MD 20850 473498594 10452 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. OMEGA 3 NUTRITION INC 1313E GUDE DRIVE ROCKVILLE MD 20850 882883582 14800 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. AFC URGENT CARE ROCKVILLE 802 PLEASANT DRIVE ROCKVILLE MD 20850 883705934 12728 0 IMPACT PROGRAM PAYMENT FOR SMALL BUSINESS IMPACT PROGRAM THAT REDI OVERSEES. 0 11 PART I, LINE 2: THE PAYMENTS ARE CONSIDERED INCENTIVE FUND PAYMENTS FOR NEW AND EXPANDING ROCKVILLE BUSINESSES, AND SMALL BUSINESS IMPACT FUND PAYMENTS FOR SMALL AND MEDIUM SIZED BUSINESSES. REDI MONITORS THE PROGRAMS AND ALL PAYMENTS ARE APPROVED BY A BOARD DESIGNATED COMMITTEE. X 0 0 0 0 0 0 0 0 0 CYNTHIA RIVARDE CHIEF EXECUTIVE OFFICER 198657 0 1000 0 0 0 7369 0 0 0 207026 0 0 0 PART I, LINE 3 ANNUAL ADJUSTMENTS ARE TYPICALLY BENCHMARKED AGAINST CITY OF ROCKVILLE SALARY ADJUSTMENTS, SUBJECT TO REVIEW AND APPROVAL BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS CONSIST OF BUSINESS OWNERS AND OTHER PROFESSIONALS IN THE CITY OF ROCKVILLE, SO BUSINESS RELATIONSHIPS BETWEEN THEM MAY EXIST. FORM 990, PART VI, SECTION A, LINE 6 REDI HAS ONE MEMBER, THE MAYOR AND COUNCIL OF THE CITY OF ROCKVILLE, MD. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER OF REDI APPOINTS THE DIRECTORS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 11B REDI'S 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING WITH THE IRS. IT WAS ALSO MADE AVAILABLE TO THE BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND STAFF SIGN AN ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR SALARY IS BENCHMARKED AGAINST CITY OF ROCKVILLE SALARY ADJUSTMENTS AND IS SUBJECT TO REVIEW AND APPROVAL BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS, AS WELL AS THE SELECTION OF AN INDEPENDENT ACCOUNTANT.