Maryland Rural Development Corporation
- Assets
- $5.7m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 153
- Location
- Annapolis, MD
- Founding
- 07/1986
- Data as of
- 12/2023
- EIN
- 52-1184645
Organization Overview
Maryland Rural Development Corporation is located in Annapolis, MD. The organization was established in 1986. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Maryland Rural Development Corporation employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Rural 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 12/2023, Maryland Rural Development Corporation generated $8.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $8.7m during the year ending 12/2023. While expenses have increased by 8.6% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ECONOMIC, EDUCATIONAL AND HOUSING ASSISTANCE TO INDIVIDUALS WHO ARE IN NEED THROUGH THE RESOURCES OFFERED BY GOVERNMENT AND PRIVATE GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEAD START/EARLY HEAD START - PROVIDES CHILD DEVELOPMENT PRE-SCHOOL CURRICULUM FOR YOUNG CHILDREN OF LOW INCOME FAMILIES. THE PROGRAM ALSO RECEIVES THE BENEFIT OF IN-KIND CONTRIBUTION VALUED AT $659,387, MADE UP OF: $203,411 PERSONNEL, $61,730 REDUCTION OF RENT, $11,583 GOODS & SUPPLIES, $167,806 PROFESSIONAL SERVICES, AND $11,858 MEETINGS.
ALL OTHER ACHIEVEMENTS/OTHER VARIOUS PROGRAMS ARE TO ENHANCE THE SOCIAL AND ECONOMIC VIABILITY OF LOW-INCOME FAMILIES IN RURAL MARYLAND THESE PROGRAMS ALSO RECEIVE THE BENEFIT OF IN-KIND CONTRIBUTIONS VALUED AT $38,895, MADE UP OF: $33,087 PROFESSIONAL SERVICES AND $5,808 MEETINGS.
COMMUNITY SERVICES BLOCK GRANT PROVIDES HOUSING & ECONOMIC DEVELOPMENT ASSISTANCE AS WELL AS A YOUTH EMPLOYMENT PROGRAM PROVIDING JOB TRAINING AND GREEN CONSERVATION SKILLS.
THE CIRCUIT RIDER PROGRAM PROVIDES PROFESSIONAL TOWN MANAGERS TO SUPPORT SMALL, RURAL MUNICIPALITIES, IN RURAL MARYLAND WITH TECHNICAL ASSISTANCE IN FINANCIAL ADMINISTRATION, LAND PLANNING AND ZONING INITIATIVES, GRANT PREPARATION & ADMINISTRATION, AND OVERALL ADMINISTRATIVE OVERSIGHT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelley Heller Board Member | Trustee | 1 | $0 |
Michael Wagener Board Member | Trustee | 1 | $0 |
Jeff Ghrist Board Member | OfficerTrustee | 1 | $0 |
Michael Brandon Board Member | Trustee | 1 | $0 |
Wilbur Levengood Board Treasurer | OfficerTrustee | 1 | $0 |
Bob Meffley Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Us Accountants Cfo, Hr, Payroll | 12/30/23 | $210,685 |
Efficient Home Llc Weatherization Contractor | 12/30/23 | $255,685 |
Eleventh House Solutions Housing Contractor | 12/30/23 | $122,456 |
Younger Services Llc Playground Installer | 12/30/23 | $114,833 |
Total Home Performance Weatherization Contractor | 12/30/23 | $220,964 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,345,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,345,295 |
| Total Program Service Revenue | $273,679 |
| Investment income | $144 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,704 |
| 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 | $8,646,286 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,362 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,377,270 |
| Pension plan accruals and contributions | $354,280 |
| Other employee benefits | $221,311 |
| Payroll taxes | $465,164 |
| Fees for services: Management | $205,999 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $213,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $275 |
| Office expenses | $300,587 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $870,167 |
| Travel | $115,797 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,403 |
| Interest | $30,868 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $241,239 |
| Insurance | $81,241 |
| All other expenses | $3,665 |
| Total functional expenses | $8,709,999 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,353,201 |
| Accounts receivable, net | $3,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,784 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $68,583 |
| Net Land, buildings, and equipment | $1,241,196 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,890,188 |
| Total assets | $5,721,386 |
| Accounts payable and accrued expenses | $833,810 |
| Grants payable | $0 |
| Deferred revenue | $362,220 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,336,028 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,532,058 |
| Net assets without donor restrictions | $1,189,328 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,721,386 |