Maryland Capital Enterprises Inc

Organization Overview

Maryland Capital Enterprises Inc is located in Salisbury, MD. The organization was established in 1998. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 09/2023, Maryland Capital Enterprises Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Capital Enterprises 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 09/2023, Maryland Capital Enterprises Inc generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $1.5m during the year ending 09/2023. While expenses have increased by 5.0% 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

2023

Describe the Organization's Mission:

Part 3 - Line 1

WE EMPOWER BUSINESSES TO GROW, CREATE JOBS AND GENERATE WEALTH ON MARYLAND'S EASTERN SHORE AND ACROSS THE STATE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COUNSELING, TECHNICAL ASSISTANCE, TRAINING IN BUSINESS STARTUP, AND LOANS TO MICRO BUSINESSES.PROVIDE POTENTIAL ENTREPRENEURS WITH THEIR BUSINESS IDEA, BUSINESS STARTUP CHECKLIST, AND PROVIDE BUSINESS AND MARKETING PLAN ASSISTANCE, PROVIDED ASSISTANCE TO 923 PEOPLE.TRAINING ON FIRST STEPS IN STARTING A BUSINESS, MARKETING OF BUSINESS, AND HOW TO WRITE A BUSINESS PLAN - PROVIDED ASSISTANCE TO 2,103 PEOPLE.LOANS - TO MICRO BUSINESSES - PROVIDED 96 LOANS TOTALLING $6,179,500.


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Board, Officers & Key Employees

Name (title)Compensation
Dan Keunnen
Board Chairman
$0
Oliver Waters
Treasurer
$0
Kelly Rew
Secretary
$0
Mark Sewell
Vice Chairman
$0
Debbie Abbott
Director
$0
John Hickman
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,884,295
All other contributions, gifts, grants, and similar amounts not included above$42,563
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,926,858
Total Program Service Revenue$128,999
Investment income $626,962
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $29,052
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,711,871

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