Anne Arundel Economic Development Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
TO SERVE BUSINESS NEEDS AND TO INCREASE ANNE ARUNDEL COUNTY ECONOMIC BASE THROUGH JOB GROWTH AND INVESTMENT.
- Income
- $6.1 million
- Spending
- $6.0 million
- Spent on programs
- 77%
- Reserves
- 2.1 months of spending
- Largest source of income
- government grants, 49%
- Employees
- 17
- Volunteers
- 12
- Highest pay
- $213,377, vice president, financial services
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 54 out of 100. Higher than 26% of charities in its peer group (community improvement, $1m to $10m).
Reserves
10 of 35Spendable reserves would cover 2.1 months of spending.
Debt
2 of 20It owes 85% of what it owns.
Living within its means
12 of 15Income exceeded spending by 2% of income.
Income trend
15 of 15Income rose 39% on the year before.
Spending floor
15 of 1577% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 95 out of 100. Higher than 62% of charities in its peer group (community improvement, $1m to $10m).
Independent board
25 of 2512 of 12 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $3.0 million spent. ANNE ARUNDEL ECONOMIC DEVELOPMENT CORPORATION SERVES AS A MANAGER OF MARYLAND SMALL MINORITY AND WOMEN-OWNED BUSINESS LOAN FUND, WHICH RECEIVES 1.5% OF VIDEO LOTTERY TERMINAL REVENUE FROM MARYLAND CASINOS. SMALL AND MINORITY, WOMEN AND VETERAN OWNED BUSINESSES LOCATED WITHIN 10 MILES OF ANY OF MARYLAND'S THREE CASINOS AND THOSE LOCATED ELSEWHERE IN THE STATE MAY BE ELIGIBLE FOR LOANS OF BETWEEN $25,000 TO $500,000 FOR PURPOSES SUCH AS BUSINESS AND COMMERCIAL REAL ESTATE ACQUISITION AND EXPANSION, LEASEHOLD IMPROVEMENTS, EQUIPMENT AND VEHICLE PURCHASE, AND WORKING CAPITAL.
- $1.2 million spent. FINANCIAL SERVICES:PROVIDES LOANS TO BUSINESSES LOCATED IN OR RELOCATING TO, ANNE ARUNDEL COUNTY, MARYLAND. THE PROGRAM IS FOR THE PURPOSE OF ENCOURAGING BUSINESS DEVELOPMENT WITHIN THE COUNTY. AN ADDITIONAL PROGRAM FOR COMMERCIAL PROPERTY OWNERS IN DESIGNATED REVITALIZATION AREAS IN THE COUNTY MAY QUALIFY FOR LOAN TO COVER RENOVATIONS AND UPGRADES TO BUILDING EXTERIORS AND SITE IMPROVEMENTS. AREAS INCLUDE ANNE ARUNDEL COUNTY'S 11 COMMERCIAL REVITALIZATION DISTRICTS AND THE COUNTY'S ONE STATE-DESIGNATED ENTERPRISE ZONE.
- $415,261 spent. AGRICULTURAL MARKETING:CREATES ECONOMIC DEVELOPMENT STRATEGIES TO SUPPORT ANNE ARUNDEL COUNTY'S FARM-BASED BUSINESSES BY PROMOTING AND ENCOURAGING THE DEVELOPMENT OF AGRICULTURE. PROVIDING OPERATING SUPPORT TO FARMS BY THE LEASING OF AGRICULTURAL EQUIPMENT, FACILITATING A SCRAP TIRE PROGRAM, PROMOTE FARMERS MARKET PROGRAMS AND ASSIST FARMS AND COMMERCIAL WATERMAN EXPAND THEIR OPERATIONS USING THE AGRICULTURAL BUSINESS IMPROVEMENT GRANT PROGRAM (ABIG) TO FUND APPROVED PROJECTS.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1994.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.