Harbor Bank Of Maryland Community Development Corporation

Organization Overview

Harbor Bank Of Maryland Community Development Corporation is located in Baltimore, MD. The organization was established in 2004. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Harbor Bank Of Maryland Community Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harbor Bank Of Maryland Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2022, Harbor Bank Of Maryland Community Development Corporation generated $389.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 70.4% each year . All expenses for the organization totaled $720.2k during the year ending 12/2022. While expenses have increased by 40.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE HARBOR BANK OF MARYLAND COMMUNITY DEVELOPMENT CORPORATION PROVIDES FINANCING TO MARYLAND COMMUNITY INSTITUTIONS, FAITH BASED ORGANIZATIONS, & SMALL BUSINESSES THAT OTHERWISE MAY HAVE DIFFICULTY OBTAINING FINANCING FOR COMMUNITY DEVELOPMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOUSING - RESIDENTIAL & COMMERCIAL CONSTRUCTION & REHABILITATION IN AN ATTEMPT TO REVITALIZE NEIGHBORHOODS


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Board, Officers & Key Employees

Name (title)Compensation
Germano Gomez
Vice Preside
$152,776
Bria Baily
Officer
$45,579
Chevelle Hill
Officer
$35,811
John Lewis
Exec. Vice P
$5,000
Joseph Haskins Jr
Chairman And
$0
Erich W March
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$310,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$310,000
Total Program Service Revenue$0
Investment income $57,751
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $19,212
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $389,210

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