Nonprofit · EIN 52-2222484
OCEAN CITY DEVELOPMENT CORPORATION
Tax-exempt · OCEAN CITY, MD 21842
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $907,152 | $861,137 | $46,015 | $5,240,457 | $1,567,095 | $3,673,362 |
| June 30, 2024 | 990 | $1,435,671 | $533,785 | $901,886 | $5,228,726 | $1,601,379 | $3,627,347 |
| June 30, 2023 | 990 | $622,836 | $592,129 | $30,707 | $3,376,656 | $651,195 | $2,725,461 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $799,561
- of which government grants
- $781,800
- Membership dues
- $17,475
- Program service revenue
- $0
- Investment income
- $32,680
- Net rental income
- $33,635
- Net income from fundraising events
- $41,276
- Other revenue
- $74,911
Expenses
- Grants and similar amounts paid
- $11,500
- Other salaries and wages
- $181,008
- Salaries, compensation and benefits (total)
- $200,737
- Professional fundraising fees
- $0
- Legal fees
- $8,682
- Accounting fees
- $7,400
- Occupancy
- $11,432
- Travel
- $4,169
- Depreciation
- $13,782
- Program services (functional)
- $766,953
- Management and general (functional)
- $94,184
Balance sheet and other
- Total assets, start of year
- $5,228,726
- Total assets, end of year
- $5,240,457
- Total liabilities, end of year
- $1,567,095
- Net assets, end of year
- $3,673,362
- Land, buildings and equipment
- $4,361,569
- Net assets without donor restrictions
- $3,673,362
- Gross unrelated business income
- $33,635
- Gross receipts
- $1,235,832
- Employees
- 7
- Volunteers
- 60
- Year formed
- 2000
- 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 |
|---|---|---|---|
| ZACHARY BANKERT | EXECUTIVE DIRECTOR Officer | 40 | $98,854 |
| JOE WILSON | PRESIDENT Trustee or director, Officer | 1 | $0 |
| PATRICK MCLAUGHLIN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SONIA BAKER | SECRETARY Trustee or director, Officer | 1 | $0 |
| NANCY BRADFORD | DIRECTOR Trustee or director | 1 | $0 |
| SPIRO BUAS | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL NOLEN | DIRECTOR Trustee or director | 1 | $0 |
| HEATHER MORRISON | DIRECTOR Trustee or director | 1 | $0 |
| NICK TEKMEN | DIRECTOR Trustee or director | 1 | $0 |
| SCOTT SAVAGE | DIRECTOR Trustee or director | 1 | $0 |
| IGOR CONEV | DIRECTOR Trustee or director | 1 | $0 |
| BILL SIEG | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS DARE | DIRECTOR Trustee or director | 1 | $0 |
| STEPHANIE MEEHAN | DIRECTOR Trustee or director | 1 | $0 |
| CALEIGH WOOTTEN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ZACHARY BANKERT | EXECUTIVE DIRECTOR Officer | 40 | $76,500 |
| JOE WILSON | PRESIDENT Trustee or director, Officer | 1 | $0 |
| PATRICK MCLAUGHLIN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SONIA BAKER | SECRETARY Trustee or director, Officer | 1 | $0 |
| ANNA DOLLE BUSHNELL | TREASURER Trustee or director, Officer | 1 | $0 |
| NANCY BRADFORD | DIRECTOR Trustee or director | 1 | $0 |
| SPIRO BUAS | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL NOLEN | DIRECTOR Trustee or director | 1 | $0 |
| HEATHER MORRISON | DIRECTOR Trustee or director | 1 | $0 |
| NICK TEKMEN | DIRECTOR Trustee or director | 1 | $0 |
| SCOTT SAVAGE | DIRECTOR Trustee or director | 1 | $0 |
| IGOR CONEV | DIRECTOR Trustee or director | 1 | $0 |
| BILL SIEG | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS DARE | DIRECTOR Trustee or director | 1 | $0 |
| STEPHANIE MEEHAN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GLENN IRWIN | FORMER EXECUTIVE DIRECTOR Former | 1 | $111,145 |
| ZACHARY BANKERT | EXECUTIVE DIRECTOR Officer | 40 | $30,000 |
| JOE WILSON | PRESIDENT Trustee or director, Officer | 1 | $0 |
| PATRICK MCLAUGHLIN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| SONIA BAKER | SECRETARY Trustee or director, Officer | 1 | $0 |
| ANNA DOLLE BUSHNELL | TREASURER Trustee or director, Officer | 1 | $0 |
| NANCY BRADFORD | DIRECTOR Trustee or director | 1 | $0 |
| SPIRO BUAS | DIRECTOR Trustee or director | 1 | $0 |
| IGOR CONEV | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS DARE | DIRECTOR Trustee or director | 1 | $0 |
| BUDDY DYKES | DIRECTOR Trustee or director | 1 | $0 |
| STEPHANIE MEEHAN | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL NOLAN | DIRECTOR Trustee or director | 1 | $0 |
| SCOTT SAVAGE | DIRECTOR Trustee or director | 1 | $0 |
| BILL SIEG | DIRECTOR Trustee or director | 1 | $0 |
| NICK TEKMEN | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 108 DORCHESTER ST, OCEAN CITY, MD 21842-4121
- In care of
- % GLENN IRWIN
- Principal officer (990 for 2024)
- ZACHARY BANKERT, 108 DORCHESTER STREET, OCEAN CITY, MD 21842
- Signed the 990
- ZACHARY BANKERT, EXECUTIVE DIRECTOR
- Phone
- (410) 289-7739
- Website
- WWW.OCDC.ORG
- Return prepared by
- PKS & COMPANY PA
Mission
THE OCEAN CITY DEVELOPMENT CORPORATION IS DEDICATED TO THE REVITALIZATION OF THE DOWNTOWN AREA OF OCEAN CITY, MARYLAND. PROGRAMS ARE DESIGNED BY THE ORGANIZATION TO FORMULATE AND IMPLEMENT LONG RANGE DEVELOPMENT STRATEGIES FOR COMMERCIAL, OFFICE, RESIDENTIAL, AND OTHER DEVELOPMENT IN THE DOWNTOWN AREA.
Program accomplishments
- FACADE IMPROVEMENT PROGRAM - THE OCDC IMPLEMENTS COMMERCIAL AND RESIDENTIAL FACADE IMPROVEMENT PROGRAMS TO PROVIDE FINANCIAL INCENTIVES TO DOWNTOWN PROPERTY OWNERS AND BUSINESSES TO RENOVATE THE EXTERIORS OF THEIR OLDER BUILDINGS. DURING THE PAST FISCAL YEAR, NUMEROUS BUILDINGS WERE RENOVATED USING THIS PROGRAM. FUNDING FOR THIS PROGRAM IS PROVIDED BY GRANTS FROM THE MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT.Expenses $258,735
- PUBLIC ART PROGRAM - THIS PROGRAM ADDS INTEREST TO THE DOWNTOWN AREA AND WILL INCREASEPEDESTRIAN TRAFFIC, AS THE AREA BECOMES BETTER KNOWN FOR ITS PUBLIC ART OFFERINGS.Expenses $25,829
- GREEN BUILDING INITIATIVES PROGRAM - COMMERCIAL PROGRAM PROVIDES FINANCIAL ASSISTANCE TOBUSINESSES TO INSTALL NEW LONG-TERM ENERGY-EFFICIENT PRODUCTS. THE PROGRAM IS FUNDED BY GRANTSFROM THE MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT.Expenses $17,365
- VARIOUS PROGRAMS RELATED TO THE REVITALIZATION OF DOWNTOWN OCEAN CITY.Expenses $465,024 · grants $11,500
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
- 52-2222484
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2001
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A80)
- Assets (IRS master file)
- $5,240,457
- Income (IRS master file)
- $1,235,832
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $907,152 | $861,137 | $5,240,457 | XML |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $1,435,671 | $533,785 | $5,228,726 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $622,836 | $592,129 | $3,376,656 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $649,081 | $552,510 | $3,377,334 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 52-2222484).
Questions about OCEAN CITY DEVELOPMENT CORPORATION
- What is the EIN of OCEAN CITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of OCEAN CITY DEVELOPMENT CORPORATION is 52-2222484.
- Is OCEAN CITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to OCEAN CITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OCEAN CITY DEVELOPMENT CORPORATION 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 OCEAN CITY DEVELOPMENT CORPORATION 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 OCEAN CITY DEVELOPMENT CORPORATION 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 OCEAN CITY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names ZACHARY BANKERT.
- Who are the officers and directors of OCEAN CITY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $98,854 (ZACHARY BANKERT, EXECUTIVE DIRECTOR).
- How much revenue does OCEAN CITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $907,152, expenses of $861,137 and total assets of $5,240,457 at year end.
Other nonprofits in OCEAN CITY
- OCEAN CITY MUSEUM SOCIETY INC EIN 52-1148499 · last filed 990 for 2025
- HENRY HOTEL FOUNDATION INC EIN 88-4406342 · last filed 990-N for 2025
- GREAT WAR FOUNDATION INC EIN 23-2923585 · last filed 990-N for 2025
- DIAKONIA INC EIN 52-1381317 · last filed 990 for 2025
- SEASIDE CHRISTIAN ACADEMY INC EIN 20-8907679 · last filed 990 for 2025
- AMERICAN LEGION EIN 52-0574803 · last filed 990 for 2024
- ART LEAGUE OF OCEAN CITY INC EIN 52-1377610 · last filed 990 for 2025
- BENEVOLENT & PROTECTIVE ORDER OF ELKS OF THE USA EIN 52-1307865 · last filed 990 for 2026
All nonprofits in OCEAN CITY · Maryland · Arts, culture and humanities