Nonprofit · EIN 52-2056731
ROCKVILLE ECONOMIC DEVELOPMENT INC
Tax-exempt · ROCKVILLE, MD 20850
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,212,860 | $2,202,493 | $10,367 | $1,951,429 | $810,277 | $1,141,152 |
| June 30, 2024 | 990 | $1,994,068 | $2,212,207 | -$218,139 | $1,882,929 | $752,144 | $1,130,785 |
| June 30, 2023 | 990 | $2,382,137 | $2,232,723 | $149,414 | $2,358,526 | $1,009,602 | $1,348,924 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,109,898
- of which government grants
- $2,109,898
- Program service revenue
- $88,813
- Investment income
- $11,785
- Other revenue
- $2,364
Expenses
- Grants and similar amounts paid
- $218,818
- Compensation of officers, directors and key employees
- $212,812
- Other salaries and wages
- $708,207
- Salaries, compensation and benefits (total)
- $1,092,526
- Professional fundraising fees
- $0
- Legal fees
- $5,556
- Accounting fees
- $121,340
- Occupancy
- $123,616
- Travel
- $32,143
- Depreciation
- $17,602
- Program services (functional)
- $1,912,915
- Management and general (functional)
- $289,078
- Fundraising (functional)
- $500
Balance sheet and other
- Total assets, start of year
- $1,882,929
- Total assets, end of year
- $1,951,429
- Total liabilities, end of year
- $810,277
- Net assets, end of year
- $1,141,152
- Land, buildings and equipment
- $732
- Net assets without donor restrictions
- $940,655
- Net assets with donor restrictions
- $200,497
- Gross receipts
- $2,212,860
- Employees
- 12
- Volunteers
- 23
- Year formed
- 1997
- State of legal domicile
- MD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CYNTHIA RIVARDE | CHIEF EXECUTIVE OFFICER Officer | 40 | $201,969 | $6,185 |
| RICHELLE WILSON | DEPUTY DIRECTOR Highest-paid employee | 40 | $120,617 | $3,677 |
| DANETTE NGUYEN UNTIL 122024 | MWBC MANAGING DIRECTOR Highest-paid employee | 40 | $116,389 | $1,759 |
| SUSAN PRINCE | IMMEDIATE PAST CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| NANCY REGELIN | CHAIR Trustee or director, Officer | 4 | $0 | $0 |
| BEI MA | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TODD PEARSON | TREASURER/SECRETARY Trustee or director, Officer | 4 | $0 | $0 |
| NIKHIL BIJLANI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUZANNE OSBORN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARJI GRAF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD ALVAREZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIDGET NEWTON UNITL NOV 2023 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANGELA CHANEY UNTIL 125 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MORGAN SULLIVAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL SCOTT UNTIL 924 | DIRECTOR Trustee or director | 1 | $0 | $0 |
12 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LAVONNE TORRENCE BERNER | DIRECTOR Trustee or director | 1 | $0 |
| CLIFF VIERS | DIRECTOR Trustee or director | 1 | $0 |
| JUSTIN YANG | DIRECTOR Trustee or director | 1 | $0 |
| ALTON J HENLEY | DIRECTOR Trustee or director | 1 | $0 |
| NICK FULLENKAMP | DIRECTOR Trustee or director | 1 | $0 |
| KELLY GROFF | DIRECTOR Trustee or director | 1 | $0 |
| CARLA MERRITT | DIRECTOR Trustee or director | 1 | $0 |
| MONIQUE ASHTON | LIAISON Trustee or director | 1 | $0 |
| BILL TOMPKINS EX-OFFICIO | DIRECTOR Trustee or director | 1 | $0 |
| MUHAMMAD KEHNEMOUYI | DIRECTOR Trustee or director | 1 | $0 |
| CJ OVERLY | DIRECTOR Trustee or director | 1 | $0 |
| JEFF MIHELICH | LIAISON Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CYNTHIA RIVARDE | CHIEF EXECUTIVE OFFICER Officer | 40 | $199,657 | $7,369 |
| RICHELLE WILSON | DEPUTY DIRECTOR Highest-paid employee | 40 | $117,170 | $4,669 |
| DANETTE NGUYEN | MWBC MANAGING DIRECTOR Highest-paid employee | 40 | $111,963 | $4,587 |
| SUSAN PRINCE | CHAIR Trustee or director, Officer | 4 | $0 | $0 |
| NANCY REGELIN | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BEI MA | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TODD PEARSON | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| NIKHIL BIJLANI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUZANNE OSBORN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARJI GRAF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD ALVAREZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIDGET NEWTON UNITL NOV 2023 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANGELA CHANEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MORGAN SULLIVAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL SCOTT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BEN ANSTROM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAVONNE TORRENCE BERNER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CLIFF VIERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUSTIN YANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALTON J HENLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROB DISPIRITO UNTIL 92023 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NICK FULLENKAMP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KELLY GROFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARACK MATITE UNTIL 112023 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CRAIG SIMONEAU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CARLA MERRITT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MONIQUE ASHTON SINCE NOV 2023 | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL TOMPKINS EX-OFFICIO | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CYNTHIA RIVARDE | CHIEF EXECUTIVE OFFICER Officer | 40 | $177,439 | $6,469 |
| RICHELLE WILSON | DEPUTY DIRECTOR Highest-paid employee | 40 | $106,328 | $4,969 |
| SUSAN PRINCE | CHAIR Trustee or director, Officer | 4 | $0 | $0 |
| NANCY REGELIN | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BEI MA | VICE CHAIR Trustee or director | 1 | $0 | $0 |
| TODD PEARSON | TREASURER Trustee or director, Officer | 4 | $0 | $0 |
| NIKHIL BIJLANI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUZANNE OSBORN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAN MALLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD ALVAREZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIDGET DONNELL NEWTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANGELA CHANEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MORGAN SULLIVAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL SCOTT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BEN ANSTROM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAVONNE TORRENCE BERNER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CLIFF VIERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUSTIN YANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALTON J HENLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DALE CYR - RESIGNED | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BECKY BRIGGS - RESIGNED | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 51 MONROE STREET PE - 20, ROCKVILLE, MD 20850-2421
- In care of
- % STACEY FEARHEILEY
- Principal officer (990 for 2024)
- CYNTHIA RIVARDE, 51 MONROE STREET PE-20, ROCKVILLE, MD 20850
- Signed the 990
- CYNTHIA RIVARDE, CHIEF EXECUTIVE OFFICER
- Phone
- (301) 315-8096
- Website
- WWW.ROCKVILLEREDI.ORG
- Return prepared by
- SNYDER COHN PC
Mission
TO IDENTIFY AND DEVELOP ECONOMIC OPPORTUNITIES TO HELP ROCKVILLE PROSPER.
Program accomplishments
- 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.Expenses $1,070,625 · grants $209,084
- 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.Expenses $842,290 · grants $9,734 · revenue $88,813
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 52-2056731
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1998
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30Z)
- Assets (IRS master file)
- $1,951,429
- Income (IRS master file)
- $2,212,860
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,212,860 | $2,202,493 | $1,951,429 | XML |
| 990 | June 2024 | $1,994,068 | $2,212,207 | $1,882,929 | XML |
| 990 | June 2023 | $2,382,137 | $2,232,723 | $2,358,526 | XML |
| 990 | June 2022 | $2,488,151 | $2,026,342 | $1,644,147 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-2056731).
Questions about ROCKVILLE ECONOMIC DEVELOPMENT INC
- What is the EIN of ROCKVILLE ECONOMIC DEVELOPMENT INC?
- The employer identification number (EIN) of ROCKVILLE ECONOMIC DEVELOPMENT INC is 52-2056731.
- Is ROCKVILLE ECONOMIC DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to ROCKVILLE ECONOMIC DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does ROCKVILLE ECONOMIC DEVELOPMENT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ROCKVILLE ECONOMIC DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ROCKVILLE ECONOMIC DEVELOPMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ROCKVILLE ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended June 30, 2025 names CYNTHIA RIVARDE.
- Who are the officers and directors of ROCKVILLE ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended June 30, 2025 lists 27 people; 3 received compensation from the organization, the highest $201,969 (CYNTHIA RIVARDE, CHIEF EXECUTIVE OFFICER).
- How much revenue does ROCKVILLE ECONOMIC DEVELOPMENT INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,212,860, expenses of $2,202,493 and total assets of $1,951,429 at year end.
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- TECHNOLOGY COUNCIL OF MARYLAND INC EIN 20-4950778 · last filed 990 for 2025
- ASSOCIATION OF WATER TECHNOLOGIES EIN 81-0611307 · last filed 990 for 2024
- BIKUR CHOLIM OF GREATER WASHINGTON INC EIN 52-2026976 · last filed 990 for 2024
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All nonprofits in ROCKVILLE · Maryland · Community improvement and capacity building