Nonprofit · EIN 81-0717388
MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · ROCKVILLE, MD 20852
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $5,135,090 | $5,464,181 | -$329,091 | $4,163,154 | $2,676,504 | $1,486,650 |
| June 30, 2024 | 990 | $6,240,820 | $6,348,144 | -$107,324 | $4,665,093 | $2,849,352 | $1,815,741 |
| June 30, 2023 | 990 | $7,205,268 | $6,944,623 | $260,645 | $4,619,671 | $2,696,606 | $1,923,065 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $4,989,640
- of which government grants
- $4,905,280
- Program service revenue
- $110,953
- Investment income
- $34,497
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $345,558
- Other salaries and wages
- $2,346,923
- Salaries, compensation and benefits (total)
- $3,267,410
- Professional fundraising fees
- $0
- Legal fees
- $9,066
- Accounting fees
- $50,627
- Occupancy
- $293,983
- Travel
- $75,535
- Depreciation
- $98,595
- Program services (functional)
- $4,415,142
- Management and general (functional)
- $1,049,039
Balance sheet and other
- Total assets, start of year
- $4,665,093
- Total assets, end of year
- $4,163,154
- Total liabilities, end of year
- $2,676,504
- Net assets, end of year
- $1,486,650
- Land, buildings and equipment
- $175,340
- Net assets without donor restrictions
- $1,486,650
- Gross receipts
- $5,135,090
- Employees
- 31
- Volunteers
- 16
- Year formed
- 2015
- 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 |
|---|---|---|---|---|
| BILL TOMPKINS | PRESIDENT AND CEO Officer | 40 | $277,163 | $18,890 |
| MICHAEL MITCHELL | VP OF MARKETING & COMMUNICATION Highest-paid employee | 40 | $177,190 | $28,183 |
| STACEY HARDY | VP OF OPERATIONS Highest-paid employee | 40 | $183,999 | $17,999 |
| LAUREEN M BABB | DIRECTOR OF ECONOMIC DEVELOPMENT Highest-paid employee | 40 | $181,081 | $14,618 |
| LYNNE BENZION | DIRECTOR OF ECONOMIC DEVELOPMENT Highest-paid employee | 40 | $173,480 | $19,056 |
| PRAYAS NEUPANE | DIRECTOR OF ECONOMIC DEVELOPMENT Highest-paid employee | 40 | $163,197 | $7,543 |
| TODD PEARSON | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| DR MUKESH KUMAR | VICE-CHAIR, BOARD OF DIRECTORS Trustee or director, Officer | 2 | $0 | $0 |
| ANDY CHOD | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| KEVIN BEVERLY | IMMEDIATE PAST CHAIR, BOARD OF DIRECTORS Trustee or director, Officer | 2 | $0 | $0 |
| DR ANNE KHADEMIAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| PETE BRISKMAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| MATTHEW LEE | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| SILVANA NANI | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| CHERLYN FREEMAN-WATKINS | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANTHONY FEATHERSTON | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 |
| RICHARD MADALENO | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 |
| COUNCILMEMBER MARILYN BALCOMBE | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 |
| JIM SOLTESZ | MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 |
| JENNIFER HSIN | TREASURER, BOARD OF DIRECTORS Trustee or director, Officer | 4 | $0 |
| ELANA FINE | CHAIR, BOARD OF DIRECTORS Trustee or director, Officer | 4 | $0 |
| KEVIN ANDERSON | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 |
| DEVANG SHAH | SECRETARY, BOARD OF DIRECTORS Trustee or director, Officer | 4 | $0 |
990 for the year ended June 30, 2024: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BILL TOMPKINS | PRESIDENT AND CEO Officer | 40 | $327,763 | $17,795 |
| BRAD STEWART | SVP, BUSINESS DEVELOPMENT (OUTGOING) Key employee | 40 | $192,328 | $19,382 |
| MICHAEL MITCHELL | VP OF MARKETING & COMMUNICATION Highest-paid employee | 40 | $161,561 | $26,316 |
| STACEY HARDY | VP OF OPERATIONS Highest-paid employee | 40 | $168,158 | $16,365 |
| LYNNE BENZION | DIRECTOR OF ECONOMIC DEVEL (OUTGOING) Highest-paid employee | 40 | $160,078 | $24,195 |
| LAUREEN M BABB | DIRETOR OF ECONOMIC DEVELOPMENT Highest-paid employee | 40 | $160,679 | $13,166 |
| NARBELI GALINDO | BUSINESS COMMUNITY ENGAGEMENT MANAGER Highest-paid employee | 1 | $119,043 | $14,455 |
| ALBERTO LACAZE | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| ANTHONY FEATHERSTON | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| CHERLYN FREEMAN-WATKINS | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| COUNCILMEMBER MARILYN BALCOMBE | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 | $0 |
| DEVANG SHAH | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| DR ANNE KHADEMIAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| ELANA FINE | VICE CHAIR, BOARD OF DIREC Trustee or director, Officer | 2 | $0 | $0 |
| GRACELYN MCDERMOTT | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| JAKE WEISSMANN | EX-OFFICIO MEMBER, BOARD O Trustee or director | 2 | $0 | $0 |
| JENNIFER HSIN | TREASURER, BOARD OF DIRECT Trustee or director, Officer | 4 | $0 | $0 |
| JIM SOLTESZ | MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 | $0 |
| KEN MILLS | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| KEVIN ANDERSON | EX-OFFICIO MEMBER, BOARD OF DIRECTORS Trustee or director | 4 | $0 | $0 |
| KEVIN BEVERLY | CHAIR, BOARD OF DIREC Trustee or director, Officer | 4 | $0 | $0 |
| MATTHEW LEE | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| MUKESH KUMAR | SECRETARY, BOARD OF DIRECT Trustee or director, Officer | 4 | $0 | $0 |
| SILVANA NANI | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BILL TOMPKINS | PRESIDENT AND CEO Officer | 40 | $221,901 | $0 |
| BRAD STEWART | SVP, BUSINESS DEVELOPMENT Key employee | 40 | $172,423 | $17,031 |
| LYNNE BENZION | DIRECTOR OF ECONOMIC DEVEL Highest-paid employee | 40 | $150,961 | $19,635 |
| STACEY HARDY | VP OF OPERATIONS Highest-paid employee | 40 | $154,613 | $14,474 |
| KEVIN BEVERLY | CHAIR, BOARD OF DIREC Trustee or director, Officer | 8 | $0 | $0 |
| ELANA FINE | VICE CHAIR, BOARD OF DIREC Trustee or director, Officer | 2 | $0 | $0 |
| MATTHEW LEE | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| CARMEN LARSEN | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| ROBERT G BREWER | IMMEDIATE PAST CHAIR, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| JAKE WEISSMANN | EX-OFFICIO MEMBER, BOARD O Trustee or director | 2 | $0 | $0 |
| ANTHONY FEATHERSTON | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| JENNIFER HSIN | TREASURER, BOARD OF DIRECTORS Trustee or director | 4 | $0 | $0 |
| CHERLYN FREEMAN-WATKINS | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| GRACELYN MCDERMOTT | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| ALBERTO LACAZE | MEMBER, BOARD OF DIRECTORS Trustee or director | 2 | $0 | $0 |
| MUKESH KUMAR | SECRETARY, BOARD OF DIRECTORS Officer | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1801 ROCKVILLE PIKE STE 320, ROCKVILLE, MD 20852-9700
- In care of
- % ROBERT G BREWER JR
- Principal officer (990 for 2024)
- PHILLIP JARED SMITH, 1801 ROCKVILLE PIKE 320, ROCKVILLE, MD 20852
- Signed the 990
- PHILLIP JARED SMITH, PRESIDENT & CEO
- Phone
- (240) 641-6700
- Website
- WWW.THINKMOCO.COM
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
MARKETING AND BUSINESS DEVELOPMENT TO DRIVE ECONOMIC GROWTH IN MONTGOMERY COUNTY, MARYLAND.
Program accomplishments
- 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.Expenses $4,415,142 · revenue $110,953
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
- 81-0717388
- 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
- 2017
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $4,163,154
- Income (IRS master file)
- $5,135,090
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $5,135,090 | $5,464,181 | $4,163,154 | XML |
| 990 | June 2024 | $6,240,820 | $6,348,144 | $4,665,093 | XML |
| 990 | June 2023 | $7,205,268 | $6,944,623 | $4,619,671 | XML |
| 990 | June 2022 | $7,933,113 | $8,894,394 | $2,827,028 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 81-0717388).
Questions about MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION is 81-0717388.
- Is MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MONTGOMERY COUNTY ECONOMIC 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 MONTGOMERY COUNTY ECONOMIC 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 MONTGOMERY COUNTY ECONOMIC 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 MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names PHILLIP JARED SMITH.
- Who are the officers and directors of MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 23 people; 6 received compensation from the organization, the highest $277,163 (BILL TOMPKINS, PRESIDENT AND CEO).
- How much revenue does MONTGOMERY COUNTY ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $5,135,090, expenses of $5,464,181 and total assets of $4,163,154 at year end.
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