Prince Georges County Economic Development Corporation

Organization Overview

Prince Georges County Economic Development Corporation is located in Largo, MD. The organization was established in 1984. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Prince Georges County Economic Development Corporation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prince Georges County Economic 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 06/2022, Prince Georges County Economic Development Corporation generated $4.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 7 years. 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

PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING BUSINESS SERVICES TO ATTRACT, RETAIN, AND EXPAND BUSINESSES IN THE COUNTY, GROWING BOTH JOBS AND THE COMMERCIAL TAX BASE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PURPOSE OF THE PRINCE GEORGE'S COUNTY ECONOMIC DEVELOPMENT CORPORATION'S (EDC)COMMUNITY OUTREACH PROGRAM IS TO INFORM AND EDUCATE THE BUSINESS COMMUNITY ON VARIOUS PROGRAMS, INCENTIVES, AND ASSISTANCE AVAILABLE IN PRINCE GEORGE'S COUNTY FOR THE PURPOSE OF BUSINESS ATTRACTION, EXPANSION, AND RETENTION.


THE PURPOSE OF THE EDC'S BUSINESS DEVELOPMENT PROGRAM IS TO FACILITATE THE ECONOMIC GROWTH AND DEVELOPMENT OF PRINCE GEORGE'S COUNTY.


EDC'S INTERNATIONAL DEPARTMENT PROMOTES BUSINESS EXPANSION, ATTRACTION AND RETENTION OF PRINCE GEORGE'S COUNTY COMPANIES DOING BUSINESS INTERNATIONALLY. THE EDC IS FOCUSED ON EXPANDING AND GROWING EXPORTS FROM COUNTY'S BUSINESSES THROUGH OUTREACH, CONNECTING BUSINESSES WITH RESOURCES TO EXPLORE FOREIGN MARKETS AND INCREASE EXPORTING CAPACITY, AND SUPPORTING TRADE MISSIONS TO TARGET GLOBAL MARKETS. IN ADDITION, EDC'S FOCUS INCLUDES EXPANDING AND GROWING COUNTY'S BUSINESSES THROUGH THE ATTRACTION OF FOREIGN DIRECT INVESTMENT BY HOSTING FOREIGN BUSINESS, MATCHMAKING, SERVING AS A SOFT LANDING FOR FOREIGN COMPANIES AND PROMOTING PRINCE GEORGES COUNTY AS THE BEST PLACE FOR INTERNATIONAL BUSINESS.


EDC PROVIDES SMALL BUSINESSES WITH TECHNICAL ASSISTANCE, TRAININGS, AND SEMINARS ON IMPORTANT TOPICS INCLUDING BUSINESS OPERATIONS, MANAGEMENT, FINANCE, MARKETING, STRATEGIC PLANNING, BUSINESS DEVELOPMENT, AND HUMAN RESOURCES. SMALL BUSINESSES ARE ALSO CONNECTED WITH RESOURCE PARTNERS, PROCUREMENT OPPORTUNITIES, AND GUIDANCE ON FEDERAL, STATE, AND LOCAL INCENTIVES AND WORKFORCE PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
David S Iannucci
President/ceo
$204,632
Ebony Stocks
Executive Vice President
$141,085
Ramsey Koojo
Controller
$131,330
Lori C Valentine
VP Of Policy And Public Re
$125,926
Orlan Johnson
Chairman
$0
Marva Jo Camp
Vice Chairman
$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$135,695
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$135,695
Total Program Service Revenue$4,161,137
Investment income $4,103
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $4,300,935

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Prince Georges County Economic Development Corporation has recieved totaling $200,399.

Awarding OrganizationAmount
$200,399
View Grant Recipient Profile

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