2026-04-02T01:34:40-05:00 2025-06-30 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2024-07-01 810717388 MONTGOMERY COUNTY ECONOMIC DEVELOPMENT C MONT 2406416700 1801 ROCKVILLE PIKE 320 ROCKVILLE MD 20852 PHILLIP JARED SMITH PRESIDENT & CEO 2406416700 2026-02-28 1 1 LORI ROTHE YOKOBOSKY P01273422 4107834900 2026-02-26 2024 2025-03-06 01:10:19Z PHILLIP JARED SMITH 1801 ROCKVILLE PIKE 320 ROCKVILLE MD 20852 5135090 0 X WWW.THINKMOCO.COM X 2015 MD TO ADVANCE EQUITABLE AND INCLUSIVE ECONOMIC GROWTH, PROSPERITY AND SUSTAINABILITY IN MONTGOMERY COUNTY THROUGH ACTIVITIES WHICH ACCELERATE THE GROWTH, RETENTION AND ATTRACTION OF BUSINESSES IN KEY INDUSTRY SECTORS. 12 12 31 16 0 0 6064607 4989640 134370 110953 41843 34497 0 0 6240820 5135090 0 0 0 0 3388795 3267410 0 0 0 2959349 2196771 6348144 5464181 -107324 -329091 4665093 4163154 2849352 2676504 1815741 1486650 X MARKETING AND BUSINESS DEVELOPMENT TO DRIVE ECONOMIC GROWTH IN MONTGOMERY COUNTY, MARYLAND. 0 0 4415142 110953 MCEDC'S EFFORTS RESULTED IN THE CREATION OR RETENTION OF 1,506 JOBS. THROUGH 5,423 BUSINESS ASSISTANCES AND CONSULTATIONS WITH 1,050 COMPANIES, MCEDC SUPPORTED GROWTH ACROSS SIX KEY INDUSTRIES, INCLUDING LIFE SCIENCES, TECHNOLOGY, REAL ESTATE, NONPROFIT, HOSPITALITY, AND CORPORATE HEADQUARTERS. IN PARTNERSHIP WITH THE LATINO ECONOMIC DEVELOPMENT CENTER, MCEDC ADMINISTERED THE ACCELERATING COMMUNITY EXCELLENCE (ACE) LOAN FUND, DESIGNED TO ASSIST SMALL, MINORITY AND WOMAN-OWNED BUSINESSES, WITH A SPECIAL EMPHASIS ON THOSE IN UNDERSERVED COMMUNITIES.CONTINUED ON SCHEDULE OMCEDC APPROVED 4 LOANS TOTALING $550,000. OF THAT $300,000 CAME FROM THE ACE LOAN FUND WITH $250,000 IN MATCHING FUNDS FROM LEDC. THREE OF THE LOAN RECIPIENTS WERE MONTGOMERY COUNTY BUSINESSES AND THE REMAINDER WERE IN TARGETED ZIP CODES IN THE STATE. 4415142 1 1 0 0 0 0 0 0 0 0 1 1 0 1 0 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 0 0 31 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X PHILLIP JARED SMITH 2406416700 1801 ROCKVILLE PIKE SUITE 320 ROCKVILLE MD 20852 TODD PEARSON MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 DR MUKESH KUMAR VICE-CHAIR, BOARD OF DIRECTORS 2.00 X X 0 0 0 ANDY CHOD MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 KEVIN BEVERLY IMMEDIATE PAST CHAIR, BOARD OF DIRECTORS 2.00 X X 0 0 0 DR ANNE KHADEMIAN MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 PETE BRISKMAN MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 MATTHEW LEE MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 SILVANA NANI MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 CHERLYN FREEMAN-WATKINS MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 ANTHONY FEATHERSTON EX-OFFICIO MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 RICHARD MADALENO EX-OFFICIO MEMBER, BOARD OF DIRECTORS 2.00 X 0 0 0 COUNCILMEMBER MARILYN BALCOMBE EX-OFFICIO MEMBER, BOARD OF DIRECTORS 4.00 X 0 0 0 JIM SOLTESZ MEMBER, BOARD OF DIRECTORS 4.00 X 0 0 0 JENNIFER HSIN TREASURER, BOARD OF DIRECTORS 4.00 X X 0 0 0 ELANA FINE CHAIR, BOARD OF DIRECTORS 4.00 X X 0 0 0 KEVIN ANDERSON EX-OFFICIO MEMBER, BOARD OF DIRECTORS 4.00 X 0 0 0 DEVANG SHAH SECRETARY, BOARD OF DIRECTORS 4.00 X X 0 0 0 BILL TOMPKINS PRESIDENT AND CEO 40.00 X 277163 0 18890 STACEY HARDY VP OF OPERATIONS 40.00 X 183999 0 17999 LYNNE BENZION DIRECTOR OF ECONOMIC DEVELOPMENT 40.00 X 173480 0 19056 MICHAEL MITCHELL VP OF MARKETING & COMMUNICATION 40.00 X 177190 0 28183 LAUREEN M BABB DIRECTOR OF ECONOMIC DEVELOPMENT 40.00 X 181081 0 14618 PRAYAS NEUPANE DIRECTOR OF ECONOMIC DEVELOPMENT 40.00 X 163197 0 7543 1156110 0 106289 12 0 1 0 0 4905280 84360 4989640 REIMBURSEMENT INCOME 900099 110953 110953 110953 34497 34497 5135090 110953 0 34497 345558 275891 69667 2346923 1871874 475049 96225 78258 17967 277368 225579 51789 201336 163743 37593 9066 9066 50627 50627 392771 286713 106058 498994 498994 14845 10329 4516 78773 63175 15598 293983 257743 36240 75535 73989 1546 98595 79074 19521 20796 16680 4116 DUES AND SUBSCRIPTIONS 218223 203302 14921 EVENTS/SPONSORSHIPS 204243 113842 90401 STRATEGIC INITITATIVE 90072 89657 415 BUSINESS DEVELOPMENT 79729 67729 12000 70519 38570 31949 5464181 4415142 1049039 0 1492972 1780816 272182 280090 524243 109266 134984 81744 985957 810617 273935 175340 1252960 1264081 713817 471817 4665093 4163154 397000 549738 2452352 2126766 2849352 2676504 X 1815741 1486650 1815741 1486650 4665093 4163154 -329091 0 X 0 1 X 1 0 X 21864639 7802426 7063105 6064607 4989640 47784417 21864639 7802426 7063105 6064607 4989640 47784417 47784417 495 723 9073 41843 34497 86631 47871048 619607 0.99820 0.99890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 856639 810617 46022 129318 129318 175340 PROGRAMMATIC INVESTMENTS ACE 1264081 C 1264081 RIGHT OF USE ASSET 471817 471817 X 5024137 0 5024137 110953 110953 5135090 5353228 -110953 -110953 5464181 0 5464181 PART X, LINE 2: MCEDC IS EXEMPT FROM FEDERAL INCOME TAX IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME TAXED ON "UNRELATED BUSINESS INCOME", IF ANY. FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, MCEDC DID NOT HAVE ANY UNRELATED BUSINESS INCOME SUBJECT TO INCOME TAXES; ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS AND MCEDC HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE NOTES TO THE FINANCIAL STATEMENTS. MCEDC IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS. WHILE NO TAX RETURNS OF THE ORGANIZATION ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX RETURNS SINCE 2021 REMAIN OPEN FOR EXAMINATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSE REIMBURSEMENT 110,953. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSE REIMBURSEMENT -110,953. X X X X 0 0 0 0 0 0 0 0 0 BILL TOMPKINS PRESIDENT AND CEO 277163 0 0 0 0 0 0 0 18890 0 296053 0 0 0 MICHAEL MITCHELL VP OF MARKETING & COMMUNICATION 171880 0 5310 0 0 0 0 0 28183 0 205373 0 0 0 STACEY HARDY VP OF OPERATIONS 174749 0 9250 0 0 0 0 0 17999 0 201998 0 0 0 LAUREEN M BABB DIRECTOR OF ECONOMIC DEVELOPMENT 151219 0 29862 0 0 0 0 0 14618 0 195699 0 0 0 LYNNE BENZION DIRECTOR OF ECONOMIC DEVELOPMENT 168433 0 5047 0 0 0 0 0 19056 0 192536 0 0 0 PRAYAS NEUPANE DIRECTOR OF ECONOMIC DEVELOPMENT 153547 0 9650 0 0 0 0 0 7543 0 170740 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE COUNTY EXECUTIVE APPOINTS MEMBERS TO THE BOARD OF DIRECTORS. THE COUNTY COUNCIL CONFIRMS THE APPOINTMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY THE ORGANIZATION'S AUDITORS, AND REVIEWED BY ITS ACCOUNTING PARTNER, CEO AND TREASURER PRIOR TO FILING. IT IS ALSO PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH OFFICER, DIRECTOR AND COMMITTEE MEMBER WILL COMPLETE A STATEMENT INDICATING WHETHER THEY HAVE ANY CONFLICTS OF INTEREST OR THEY OR A FAMILY MEMBER DOES BUSINESS WITH MCEDC. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT & CEO IS BASED ON COMPARABLE MARKET DATA AND IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 MCEDC'S BOARD OF DIRECTORS COMPLIES WITH THE STATE OF MARYLAND'S OPEN MEETINGS ACT. ALL MEETINGS ARE PROPERLY NOTICED TO THE PUBLIC, INCLUDING A POSTING OF MEETING AGENDAS AND MINUTES ON MCEDC'S WEBSITE. THE FINANCIAL DOCUMENTS ARE AVAILABLE AT THE ORGANIZATIONS OFFICE UPON REQUEST.