Anne Arundel Economic Development Corporation
Anne Arundel Economic Development Corporation
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About this organization
Mission
To promote economic development by providing financing options and provide economic information.
About
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.
Interesting data from their 2020 990 filing
The non-profit's mission, as documented in the filing, is “To serve business needs and to increase anne arundel county economic base through job growth and investment.”.
When explaining its purpose, the activities were described as: “To promote economic development by providing financing options and provide economic information.”.
- The non-profit is legally allowed to operate in the state of MD, as reported.
- The filing provides the non-profit's address in 2020 as 2660 RIVA ROAD NO 200, ANNAPOLIS, MD, 21401.
- The non-profit has a total of 17 employees, as reported on their form for 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,375,019.
- The organization has 11 independent voting members.
- The organization was formed in 1993.
- The organization pays $2,159,870 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.