Maryland-Israel Development Center Inc
- Assets
- $1.4m
- Revenue
- $541.8k
- Investments
- $840.6k
- Employees
- 2
- Location
- Baltimore, MD
- Founding
- 06/1992
- Data as of
- 06/2023
- EIN
- 52-1777737
Organization Overview
Maryland-Israel Development Center Inc is located in Baltimore, MD. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Maryland-Israel Development Center Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland-Israel Development Center Inc 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 06/2023, Maryland-Israel Development Center Inc generated $541.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $448.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 years. 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
TO FOSTER BILATERAL ECONOMIC DEVELOPMENT BETWEEN ISRAEL AND MARYLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT/COMMUNITY DEVELOPMENT/MEMBERSHIPS - THE MIDC HAS AN ALLIANCE WITH OTHER ORGANIZATIONS WITH THE MISSION OF HELPING CREATE JOBS IN BOTH BUSINESS DEVELOPMENT MARYLAND AND ISRAELI COMMUNITIES BY PROMOTING BI-LATERAL TRADE AND INVESTMENT. THE MIDC HAS A MEMBERSHIP PROGRAM TO PROVIDE MARYLAND COMPANIES WITH ACCESS TO ISRAELI FIRMS WHO WISH TO INTERACT THROUGH ECONOMIC, SCIENTIFIC AND/OR TECHNOLOGICAL COLLABORATION.THE MIDC ALSO HELD A 30TH ANNIVERSARY CELEBRATION AND CELEBRATION OF RETIREMENT OF BARRY BOGAGE - JUNE 12 PROGRAM INCLUDING OVER 120 PEOPLE FOR OUR FIRST IN-PERSON PROGRAM SINCE THE START OF THE COVID PANDEMIC.
ISRAEL'S 75TH BIRTHDAY CELEBRATION - EVENTS HELD DURING THE YEAR TO CELEBRATE THE 75TH BIRTHDAY OF ISRAEL
WEBINAR SERIES - CONTINUING OUR WEBINAR SERIES FOCUSING ON EMERGING TECHNOLOGIES AND CURRENT EVENTS IN ISRAEL AND MARYLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Kuntz Chair | OfficerTrustee | 1 | $0 |
Jay Radov Treasurer | OfficerTrustee | 1 | $0 |
Natalie Gutman-Chen Director | Trustee | 1 | $0 |
Mark Davis Director | Trustee | 1 | $0 |
Steve Dubin Director | Trustee | 1 | $0 |
Howard Feldman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $318,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $124,892 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $443,092 |
| Total Program Service Revenue | $88,232 |
| Investment income | $10,479 |
| 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 | $541,803 |
| 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. | $223,034 |
| Compensation of current officers, directors, key employees. | $33,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,135 |
| Pension plan accruals and contributions | $994 |
| Other employee benefits | $268 |
| Payroll taxes | $14,724 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,144 |
| Fees for services: Other | $52,836 |
| Advertising and promotion | $30,000 |
| Office expenses | $284 |
| Information technology | $20,109 |
| Royalties | $0 |
| Occupancy | $132 |
| Travel | $2,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,000 |
| All other expenses | $0 |
| Total functional expenses | $448,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,275 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $318,597 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $840,636 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,593 |
| Total assets | $1,394,101 |
| Accounts payable and accrued expenses | $14,759 |
| Grants payable | $0 |
| Deferred revenue | $37,391 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,000 |
| Total liabilities | $102,150 |
| Net assets without donor restrictions | $1,234,776 |
| Net assets with donor restrictions | $57,175 |
| 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 | $1,394,101 |