Maryland · Nonprofit
MARYLAND ECONOMIC DEVELOPMENT CORPORATION
MARYLAND ECONOMIC DEVELOPMENT CORPORATION (Maryland) receives grants from 3 organizations whose IRS filings report $6,686,893 to it, the largest being NEIGHBORHOOD IMPACT INVESTMENT FUND INC ($6,506,893). 1 of them have funded it in more than one year.
- Revenue FY2025
- $218M
- Funders on record
- 3
- Grants received
- $6.7M
- Net assets
- $-300547613
What Maryland Economic Development Corporation does
Mission
Medco's primary purpose is to expand productive employment and the state's economy and tax base through the development of certain vacant or under-utilized industrial sites and facilities as well as other economic resources. In fulfilling its purpose, medco provides facilities and financing of facilities to businesses at favorable rates. Medco also provides management and consulting expertise.
As stated on its FY2025 Form 990.
Programs
Chesapeake bay conference center is a hospitality project located in cambridge, maryland.
$60,536,388 spent$45,441,412 earned by the program28% of program spendingUmcp housing is a program under which medco leases land used for the south campus commons and the courtyards at the umcp campus in prince george's county, maryland.
$30,731,123 spent$34,393,521 earned by the program14% of program spendingMorgan is a housing project to finance, construct and manage student housing at morgan state university in baltimore, maryland.
$24,735,175 spent$21,712,334 earned by the program11% of program spendingMedco provided financing packages or favorable lease terms for many projects throughout the state. In addition, medco assisted organizations in their efforts to expand or modernize.
$102,026,154 spent$92,345,743 earned by the program47% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $218,028,840.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $663M to $1.0B (+54%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 1% · 2018 3% · 2019 1%. Grants only. Government contracts and fees sit inside program revenue.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 7 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
J Thomas Sadowski Jr
Executive director and secretary
Board chair
Scott Dorsey
Chairman
As listed on its FY2025 Form 990.
Who funds it, year by year
2022 → 2023: the base held at 1 funder, grant income rose $30k → $150k.
1 of 3 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 0% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of MARYLAND ECONOMIC DEVELOPMENT CORPORATION’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
MARYLAND ECONOMIC DEVELOPMENT CORPORATION leans on a few funders — its largest provides 97% of grant income and the top three 100%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
100% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund MARYLAND ECONOMIC DEVELOPMENT CORPORATION.
Largest funder’s share by year: 2022 100% · 2023 100% — broadly stable.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
98% of MARYLAND ECONOMIC DEVELOPMENT CORPORATION's grant income comes from Maryland funders.
Funder states come from each funder’s own filing. $30k arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Government funding MARYLAND ECONOMIC DEVELOPMENT CORPORATION receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $7.0M on record — $199k federal, $6.8M state.
- Department of Agriculture$132k
- Department of the Interior$48k
- Department of Commerce$19k
- MD$6.7M
- NJ$21k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like MARYLAND ECONOMIC DEVELOPMENT CORPORATION
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Maryland
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
98% of spending goes to programs.
Governance
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for MARYLAND ECONOMIC DEVELOPMENT CORPORATION: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds MARYLAND ECONOMIC DEVELOPMENT CORPORATION?
- MARYLAND ECONOMIC DEVELOPMENT CORPORATION (Maryland) receives grants from 3 organizations whose IRS filings report $6,686,893 to it, the largest being NEIGHBORHOOD IMPACT INVESTMENT FUND INC ($6,506,893). 1 of them have funded it in more than one year.
- How many funders does MARYLAND ECONOMIC DEVELOPMENT CORPORATION have?
- IRS filings report 3 organizations giving $6,686,893 in grants to MARYLAND ECONOMIC DEVELOPMENT CORPORATION, 1 of which have funded it in more than one year.
- Who is the largest funder of MARYLAND ECONOMIC DEVELOPMENT CORPORATION?
- NEIGHBORHOOD IMPACT INVESTMENT FUND INC is the largest funder on record, with $6,506,893 in grants. The full list of funders is on this page.
- How can an organization like MARYLAND ECONOMIC DEVELOPMENT CORPORATION find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Maryland. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Maryland Economic Development →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 3 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing