Skip to content
Nonprofiteer
← All organizations

MARYLAND ECONOMIC DEVELOPMENT CORPORATION

EIN 52-1376562 BALTIMORE, MD

Largest nonprofits in Maryland

Revenue 2024
$218,068,432
Expenses 2024
$223,313,987

Program services were 97.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
04
Classification
1000
Street
7 SAINT PAUL ST STE 940

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

Mission

MEDCO'S PRIMARY PURPOSE IS TO EXPAND PRODUCTIVE EMPLOYMENT AND THE STATE'S ECONOMY AND TAX BASE THROUGH THE DEVELOPMENT OF CERTAIN VACANT OR UNDER-UTILIZED INDUSTRIAL SITES AND FACILITIES AS WELL AS OTHER ECONOMIC RESOURCES. IN FULFILLING ITS PURPOSE, MEDCO PROVIDES FACILITIES AND FINANCING OF FACILITIES TO BUSINESSES AT FAVORABLE RATES. MEDCO ALSO PROVIDES MANAGEMENT AND CONSULTING EXPERTISE.

Activities or mission (Part I)

TO ATTRACT NEW BUSINESSES AND ENCOURAGE EXPANSION OF EXISTING BUSINESSES IN MARYLAND THROUGH DEVELOPMENT, EXPANSION, AND/OR MODERNIZATION OF FACILITIES.

  • CHESAPEAKE BAY CONFERENCE CENTER IS A HOSPITALITY PROJECT LOCATED IN CAMBRIDGE, MARYLAND.

    Expenses $60,536,388 · Revenue $45,441,412

  • UMCP HOUSING IS A PROGRAM UNDER WHICH MEDCO LEASES LAND USED FOR THE SOUTH CAMPUS COMMONS AND THE COURTYARDS AT THE UMCP CAMPUS IN PRINCE GEORGE'S COUNTY, MARYLAND.

    Expenses $30,731,123 · Revenue $34,393,521

  • MORGAN IS A HOUSING PROJECT TO FINANCE, CONSTRUCT AND MANAGE STUDENT HOUSING AT MORGAN STATE UNIVERSITY IN BALTIMORE, MARYLAND.

    Expenses $24,735,175 · Revenue $21,712,334

  • MEDCO PROVIDED FINANCING PACKAGES OR FAVORABLE LEASE TERMS FOR MANY PROJECTS THROUGHOUT THE STATE. IN ADDITION, MEDCO ASSISTED ORGANIZATIONS IN THEIR EFFORTS TO EXPAND OR MODERNIZE.

    Expenses $102,026,154 · Revenue $92,345,743

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • Scott Dorsey

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Richard Woo

    VICE CHAIRMAN (PART YEAR)

    Total calculated
    $0
    Hours/week
    1

  • Tehma Hallie Smith Wilson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Secretary Kevin Anderson

    BOARD OF DIRECTORS (PART YEAR)

    Total calculated
    $0
    Hours/week
    1

  • The Honorable Harry Coker Jr

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Eric Costello

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Michael Cottingham

    BOARD OF DIRECTORS (PART YEAR)

    Total calculated
    $0
    Hours/week
    1

  • Lester Davis

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • The Honorable Jessica Fitzwater

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Keasha Haythe

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Omar Karim

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Mary Ann Marbury

    BOARD OF DIRECTORS (PART YEAR)

    Total calculated
    $0
    Hours/week
    1

  • Dr Gina Merritt MBA

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Andres Navarrete

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Jim Soltesz

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Jessica Underwood Esq

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Secretary Paul J Wiedefeld

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • J Thomas Sadowski Jr

    EXECUTIVE DIRECTOR AND SECRETARY

    Total calculated
    $428,788
    From this org
    $332,209
    From related orgs
    $0
    Other
    $96,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,951
    Bonus
    $0
    Other
    $258
    Deferred
    $50,588
    Nontaxable benefits
    $45,991
    Filer's total
    $428,788

  • James R Miller

    CFO

    Total calculated
    $245,356
    From this org
    $211,819
    From related orgs
    $0
    Other
    $33,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,173
    Bonus
    $0
    Other
    $12,646
    Deferred
    $31,713
    Nontaxable benefits
    $1,824
    Filer's total
    $245,356

  • John Genakos

    DIRECTOR OF RE & DEVELOPMENT

    Total calculated
    $250,179
    From this org
    $188,700
    From related orgs
    $0
    Other
    $61,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,610
    Bonus
    $0
    Other
    $23,090
    Deferred
    $28,866
    Nontaxable benefits
    $32,613
    Filer's total
    $250,179

  • Wyatt Shiflett

    DIRECTOR OF FINANCING

    Total calculated
    $215,551
    From this org
    $175,549
    From related orgs
    $0
    Other
    $40,002
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,637
    Bonus
    $0
    Other
    $8,912
    Deferred
    $26,322
    Nontaxable benefits
    $13,680
    Filer's total
    $215,551

  • Katherine Parks

    DIRECTOR COMMUNITY DEVELOPMENT

    Total calculated
    $210,644
    From this org
    $174,046
    From related orgs
    $0
    Other
    $36,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,986
    Bonus
    $0
    Other
    $60
    Deferred
    $25,523
    Nontaxable benefits
    $11,075
    Filer's total
    $210,644

  • Sarah Horta

    DIRECTOR OF INNOVATION & STRATEGIC PLANNING

    Total calculated
    $181,624
    From this org
    $140,632
    From related orgs
    $0
    Other
    $40,992
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,502
    Bonus
    $0
    Other
    $7,130
    Deferred
    $21,246
    Nontaxable benefits
    $19,746
    Filer's total
    $181,624

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us. Earlier years are each on their own filing page.

Filings

  • 2024
    Revenue
    $218,068,432
    Expenses
    $223,313,987
    Contributions
    $0
    Grants paid
    $0
  • 2023
    Revenue
    $210,514,601
    Expenses
    $219,211,488
    Contributions
    $0
    Grants paid
    $0
  • 2022
    Revenue
    $202,169,562
    Expenses
    $207,362,676
    Contributions
    $0
    Grants paid
    $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $218,789,271
    Expenses
    $168,008,743
    Assets (EOY)
    $663,140,054

  • 2020 · 990

    Revenue
    $118,680,486
    Expenses
    $144,336,566
    Assets (EOY)
    $640,070,345

  • 2019 · 990

    Revenue
    $117,023,377
    Expenses
    $148,539,548
    Assets (EOY)
    $596,700,976

  • 2018 · 990

    Revenue
    $129,474,410
    Expenses
    $160,505,562
    Assets (EOY)
    $539,019,716

  • 2017 · 990

    Revenue
    $136,282,335
    Expenses
    $150,053,728
    Assets (EOY)
    $533,089,449

  • 2016 · 990

    Revenue
    $167,558,864
    Expenses
    $151,415,888
    Assets (EOY)
    $545,732,591

  • 2015 · 990

    Revenue
    $141,506,041
    Expenses
    $154,425,901
    Assets (EOY)
    $612,904,127

  • 2014 · 990

    Revenue
    $139,856,998
    Expenses
    $147,284,020
    Assets (EOY)
    $625,928,279

  • 2013 · 990

    Revenue
    $129,082,946
    Expenses
    $148,238,499
    Assets (EOY)
    $595,492,324

  • 2012 · 990

    Revenue
    not reported
    Expenses
    $150,589,599
    Assets (EOY)
    $626,544,670

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Not present in the most recent drop.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 1 November 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.