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EAST BALTIMORE DEVELOPMENT INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
EAST BALTIMORE DEVELOPMENT INC (EIN 27-0037508)
Tax period
2020-07-01 to 2021-06-30
Filed
2022-05-13
IRS object ID
202221339349306472
Schema version
2020v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-05-13T14:30:58-05:00ReturnTs
Tax Period End2021-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN420714325PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1RSM US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1100 INTERNATIONAL DRIVE SUITE 1400AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21202ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN270037508EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1EAST BALTIMORE DEVELOPMENT INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlEASTBusinessNameControlTxt
Phone4102340660PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1929 N WOLFE STREET STE 1106AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21205ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHERYL WASHINGTONPersonNm
Person TitlePRESIDENT AND CEOPersonTitleTxt
Phone4102340660PhoneNum
Signature2022-05-11SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCHERYLPersonFirstNm
Person LastWASHINGTONPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJULIA FLANNERY CPAPreparerPersonNm
PTINP00928918PTIN
Phone4102469300PhoneNum
Preparation2022-05-11PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Principal OfficerCHERYL WASHINGTONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1929 N WOLFE STREET STE 1106AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21205ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$10,580,571GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.EBDI.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2002FormationYr
Legal Domicile StateMDLegalDomicileStateCd
Activity Or MissionTO SUCCESSFULLY ATTRACT MARKET-ORIENTED INVESTMENT, DEVELOPMENT, POPULATION & ENTERPRISE TO THE EAST BALTIMORE COMMUNITY WHILE EQUIPPING COMMUNITY RESIDENTS WITH THE SKILLS, INFORMATION & RESOURCES THEY NEED TO BENEFIT FROM NEW HOUSING, EMPLOYMENT, BUSINESS & EDUCATIONAL OPPORTUNITIES.ActivityOrMissionDesc
Voting Members Governing Body16VotingMembersGoverningBodyCnt
Voting Members Independent16VotingMembersIndependentCnt
Total Employee6TotalEmployeeCnt
Total Volunteers21TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,906,266PYContributionsGrantsAmt
CY Contributions Grants$4,173,163CYContributionsGrantsAmt
PY Program Service Revenue$75,164PYProgramServiceRevenueAmt
CY Program Service Revenue$1,032,632CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$6,647,912PYOtherRevenueAmt
CY Other Revenue$5,374,776CYOtherRevenueAmt
PY Total Revenue$8,629,342PYTotalRevenueAmt
CY Total Revenue$10,580,571CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$855,751PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$966,398CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$9,782,018PYOtherExpensesAmt
CY Other Expenses$11,986,346CYOtherExpensesAmt
PY Total Expenses$10,637,769PYTotalExpensesAmt
CY Total Expenses$12,952,744CYTotalExpensesAmt
PY Revenues Less Expenses-$2,008,427PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$2,372,173CYRevenuesLessExpensesAmt
Total Assets BOY$60,346,855TotalAssetsBOYAmt
Total Assets EOY$59,534,248TotalAssetsEOYAmt
Total Liabilities BOY$65,782,099TotalLiabilitiesBOYAmt
Total Liabilities EOY$66,836,298TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$5,435,244NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY-$7,302,050NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionEBDI'S MISSION IS TO SUCCESSFULLY ATTRACT MARKET-ORIENTED INVESTMENT, DEVELOPMENT, POPULATION AND ENTERPRISE TO THE EAST BALTIMORE COMMUNITY WHILE EQUIPPING COMMUNITY RESIDENTS WITH THE SKILLS, INFORMATION & RESOURCES THEY NEED TO BENEFIT FROM NEW HOUSING, EMPLOYMENT, BUSINESS AND EDUCATIONAL OPPORTUNITIES. EBDI'S EAST BALTIMORE INITIATIVE LEVERAGES THE WORLD-CLASS HEALTH AND RESEARCH FACILITIES THAT ANCHOR AND ECONOMICALLY POWER THE NEIGHBORHOOD, THE CITY AND THE REGION.EAST BALTIMORE DEVELOPMENT FOUNDATION, INC. (EBDF), A RELATED ORGANIZATION, WAS FORMED IN 2008 AS A NON-STOCK CORPORATION EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES TO SUPPORT AND CARRY OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF EBDI. EBDF IS A TYPE I SUPPORTING ORGANIZATION AS DEFINED BY THE IRS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$11,886,334ExpenseAmt
Revenue$6,407,354RevenueAmt
DescEAST BALTIMORE DEVELOPMENT FOUNDATION, INC. (EBDF), A RELATED ORGANIZATION, WAS FORMED IN 2008 AS A NON-STOCK CORPORATION EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES TO SUPPORT AND CARRY OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF EBDI. EBDF IS A TYPE I SUPPORTING ORGANIZATION AS DEFINED BY THE IRS.EAST BALTIMORE DEVELOPMENT, INC. (EBDI) IS A 501[C][3] ESTABLISHED BY COMMUNITY, GOVERNMENT, INSTITUTIONAL AND PHILANTHROPIC PARTNERS TO REVITALIZE, RE-ENERGIZE AND REBUILD THE EAST BALTIMORE NEIGHBORHOOD BY:- LEVERAGING PROXIMITY TO THE JOHNS HOPKINS MEDICAL COMPLEX INTO A STRONGER ECONOMIC DRIVER FOR THE NEIGHBORHOOD - INCREASING INVESTMENT AND EMPLOYMENT IN MEDICAL AND LIFE SCIENCES INDUSTRIES BUT ALSO CAPTURING A GREATER COMMUNITY CONTRIBUTION FROM STUDENTS, EMPLOYEES, FACULTY AND VISITORS.- MAKING THE DEMOLITION, CONSTRUCTION AND DEVELOPMENT ACTIVITIES UNDERTAKEN AS PART OF THIS INITIATIVE PRODUCE SIGNIFICANT ECONOMIC BENEFIT TO RESIDENTS AND BUSINESSES OF EAST BALTIMORE WHILE GROWING THE LIFE SCIENCES INDUSTRY OF BALTIMORE. - STRENGTHENING AND REVITALIZING GREATER MIDDLE EAST BALTIMORE WITH INSTITUTIONS AND AMENITIES THAT WILL ENCOURAGE FORMER RESIDENTS TO RETURN AND NEW RESIDENTS TO SETTLE IN THIS COMMUNITY.- REPLACING AGING, OBSOLETE, LEAD-FILLED HOUSES WITH NEW UNITS OF MIXED INCOME RENTAL AND FOR SALE HOUSING THAT MEET THE NEEDS OF TODAY'S FAMILIES.- AND IN DOING THESE THINGS, ENSURING THAT THOSE FAMILIES DIRECTLY AFFECTED BY THE REDEVELOPMENT BE TREATED MORE FAIRLY, MORE SUPPORTIVELY AND MORE RESPECTFULLY THAN HAS YET BEEN THE CASE IN PROJECTS OF THIS NATURE ACROSS THE COUNTRY.EBDI IS SUPPORTED BY PUBLIC AND PRIVATE PARTNERS, INCLUDING THE U.S. GOVERNMENT, THE STATE OF MARYLAND, THE CITY OF BALTIMORE, THE ANNIE E. CASEY FOUNDATION, JOHNS HOPKINS INSTITUTIONS, THE HARRY AND JEANETTE WEINBERG FOUNDATION, THE ATLANTIC PHILANTHROPIES AND OTHERS. WHEN COMPLETED, THE PROJECT WILL INCLUDE APPROXIMATELY 2,100 UNITS OF MIXED INCOME HOMEOWNERSHIP AND RENTAL HOUSING UNITS, 1.7 MILLION SQUARE FEET OF LIFE SCIENCES RESEARCH AND OFFICE SPACE, A NEW 7 ACRE COMMUNITY LEARNING CAMPUS WITH AN EARLY CHILDHOOD CENTER, A PUBLIC K- 8 ELEMENTARY SCHOOL, FRESH FOOD STORES AND OTHER NEIGHBORHOOD-SERVING RETAIL AMENITIES, GREEN SPACES, AND A NEW COMMUNITY LINEAR PARK.DEVELOPMENT AND CONSTRUCTION ACTIVITIES ALL INCLUDE A COMMITMENT TO SUBSTANTIVE PARTICIPATION BY LOCAL, MINORITY OWNED AND WOMEN OWNED ENTERPRISES WITH OVER $437 MILLION IN CONSTRUCTION CONTRACTS LET TO SUCH FIRMS TO-DATE, AND THE LOCAL EAST BALTIMORE WORK FORCE IS GIVEN PRIORITY ACCESS TO THE BUSINESS AND JOB OPPORTUNITIES CREATED IN THE PROJECT AREA. THE COMPLETED REVITALIZATION EFFORT IS PROJECTED TO GENERATE $1.8 BILLION OF PUBLIC/PRIVATE INVESTMENT IN THE COMMUNITY OVER 20 YEARS, WITH $1.1 BILLION INVESTED TO-DATE.Desc
Total Program Service Expenses$11,886,334TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying ActivitiesYes (1)LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt BondsYes (1)TaxExemptBondsInd
Invest Tax Exempt Bonds0InvestTaxExemptBondsInd
Escrow Account0EscrowAccountInd
On Behalf Of Issuer0OnBehalfOfIssuerInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document17IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee6EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members16GoverningBodyVotingMembersCnt
Independent Voting Member16IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (1)DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMDStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CHERYL WASHINGTONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone4102340660PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1929 N WOLFE STREET STE 1106AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21205ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerIndAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtHighest Compensated EmployeeHighestCompensatedEmployeeInd
TOMI HIERS
BOARD MEMBER1.00Yes (X)$0$0$0
TALMADGE BRANCH
BOARD MEMBER1.00Yes (X)$0$0$0
ANTONIO GLOVER
BOARD MEMBER1.00Yes (X)$0$0$0
RONALD J DANIELS
BOARD MEMBER1.00Yes (X)$0$0$0
VENROY JULY
BOARD MEMBER1.00Yes (X)$0$0$0
JEANNE HITCHCOCK
CHAIR1.00Yes (X)$0$0$0Yes (X)
CORY MCCRAY
BOARD MEMBER1.00Yes (X)$0$0$0
THEODORE CARTER
BOARD MEMBER1.00Yes (X)$0$0$0
GAVIN JOHNSON
BOARD MEMBER1.00Yes (X)$0$0$0
ANTHONY KING
TREASURER1.00Yes (X)$0$0$0Yes (X)
CARON WATKINS
BOARD MEMBER1.00Yes (X)$0$0$0
ABE ROSENTHAL
BOARD MEMBER1.00Yes (X)$0$0$0
LT GOV HONORABLE BOYD K RUTHERFORD
BOARD MEMBER1.00Yes (X)$0$0$0
ROBERT STOKES
BOARD MEMBER1.00Yes (X)$0$0$0
COLIN TARBERT
BOARD MEMBER1.00Yes (X)$0$0$0
TODD SCOTT
BOARD MEMBER1.00Yes (X)$0$0$0
CHERYL WASHINGTON
CEO50.00$241,634$0$22,159Yes (X)1.00
KAREN JOHNSON
CRO45.00$226,399$0$27,824Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$468,033TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$49,983TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (4 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
K&K ADAMS
2901 DRUID PARK DRIVE STE 207BALTIMOREMD21215GENERAL CONTRACTOR$924,569
LSH GE GATEWAY 2 LLC
409 WASHINGTON AVE STE 900TOWSONMD21204GENERAL CONTRACTOR$648,587
GEI WINDEMERE LLC
1829 REISTERSTOWN RD STE 300BALTIMOREMD21208GENERAL CONTRACTOR$279,502
RSM US LLP
5155 PAYSPHERE CIRCLECHICAGOIL60674ACCOUNTING$102,548
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K4CntrctRcvdGreaterThan100KCnt
Related Organizations$11,000RelatedOrganizationsAmt
Government Grants$2,905,076GovernmentGrantsAmt
All Other Contributions$1,257,087AllOtherContributionsAmt
Total Contributions$4,173,163TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
DEVELOPER FEES900099$981,933$981,933
APPLICATION & OTHER FE900099$50,699$50,699
FieldValueIRS element (for citing)
Total Program Service Revenue$1,032,632TotalProgramServiceRevenueAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$5,374,722RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$0RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$5,374,722RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,374,722TotalRevenueColumnAmt
Related Or Exempt Func Income$5,374,722RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOTHER REVENUEDesc
Business900099BusinessCd
Total Revenue Column$54TotalRevenueColumnAmt
Exclusion$54ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$54OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$10,580,571TotalRevenueColumnAmt
Related Or Exempt Func Income$6,407,354RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$54ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$273,235TotalAmt
Program Services$108,434ProgramServicesAmt
Management And General$164,801ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$514,005TotalAmt
Program Services$203,984ProgramServicesAmt
Management And General$310,021ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$37,034TotalAmt
Program Services$14,697ProgramServicesAmt
Management And General$22,337ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$94,557TotalAmt
Program Services$37,525ProgramServicesAmt
Management And General$57,032ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$47,567TotalAmt
Program Services$18,877ProgramServicesAmt
Management And General$28,690ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$85,052TotalAmt
Management And General$85,052ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$212,840TotalAmt
Management And General$212,840ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$3,362,478TotalAmt
Program Services$3,362,478ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$51,678TotalAmt
Management And General$51,678ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$34,741TotalAmt
Management And General$34,741ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$8,212TotalAmt
Management And General$8,212ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$5,402TotalAmt
Program Services$4,860ProgramServicesAmt
Management And General$542ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$143TotalAmt
Management And General$143ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$170TotalAmt
Management And General$170ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$3,156,084TotalAmt
Program Services$3,156,084ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,688,713TotalAmt
Program Services$1,688,713ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$79,753TotalAmt
Management And General$79,753ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
PROPERTY OPERATING EXPE$3,245,349$3,245,349
PROPERTY & SPECIAL TAXE$34,363$34,363
PROPERTY ACQUISITION$9,500$9,500

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$11,868TotalAmt
Program Services$1,470ProgramServicesAmt
Management And General$10,398ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$12,952,744TotalAmt
Program Services$11,886,334ProgramServicesAmt
Management And General$1,066,410ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$3,054,980BOYAmt
EOY$3,656,227EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$55,067BOYAmt
EOY$50,000EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
EOY$514,599EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$75,731EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$71,840,050LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$17,333,840LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$56,117,623BOYAmt
EOY$54,506,210EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,119,185BOYAmt
EOY$731,481EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$60,346,855BOYAmt
EOY$59,534,248EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$1,620,976BOYAmt
EOY$2,948,489EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$215,291BOYAmt
EOY$105,685EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$61,565,000BOYAmt
EOY$61,145,000EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$2,380,832BOYAmt
EOY$2,637,124EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$65,782,099BOYAmt
EOY$66,836,298EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$5,668,911BOYAmt
EOY-$7,514,467EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$233,667BOYAmt
EOY$212,417EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$5,435,244BOYAmt
EOY-$7,302,050EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$60,346,855BOYAmt
EOY$59,534,248EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$2,372,173ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$505,367OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$42,260,090CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,771,434CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,719,739CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,906,266CurrentTaxYearMinus1YearAmt
Current Tax Year$4,173,163CurrentTaxYearAmt
Total$57,830,692TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$42,260,090CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,771,434CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,719,739CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,906,266CurrentTaxYearMinus1YearAmt
Current Tax Year$4,173,163CurrentTaxYearAmt
Total$57,830,692TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$1,100,888SubstantialContributorsTotAmt
Public Support Total170$56,729,804PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$832CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus2 Years$3CurrentTaxYearMinus2YearsAmt
Total$835TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,409,875CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,212CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$33,420CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$15,038CurrentTaxYearMinus1YearAmt
Current Tax Year$54CurrentTaxYearAmt
Total$4,459,599TotalAmt
FieldValueIRS element (for citing)
Total Support$62,291,126TotalSupportAmt
Gross Receipts Rltd Activities$33,113,190GrossReceiptsRltdActivitiesAmt
Public Support CY1700.91070PublicSupportCY170Pct
Public Support PY1700.91010PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

Other Exempt Purpose Expend OtherExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$12,952,744FilingOrganizationsTotalAmt

Total Exempt Purpose Expend TotalExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$12,952,744FilingOrganizationsTotalAmt

Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Filing Organizations Total$797,637FilingOrganizationsTotalAmt

Grassroots Nontaxable GrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Filing Organizations Total$199,409FilingOrganizationsTotalAmt

Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Current Year Minus3$810,537CurrentYearMinus3Amt
Current Year Minus2$758,762CurrentYearMinus2Amt
Current Year Minus1$681,888CurrentYearMinus1Amt
Current Year$797,637CurrentYearAmt
Total$3,048,824TotalAmt
FieldValueIRS element (for citing)
Lobbying Ceiling$4,573,236LobbyingCeilingAmt

Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Current Year Minus3$202,634CurrentYearMinus3Amt
Current Year Minus2$189,691CurrentYearMinus2Amt
Current Year Minus1$170,472CurrentYearMinus1Amt
Current Year$199,409CurrentYearAmt
Total$762,206TotalAmt
FieldValueIRS element (for citing)
Grassroots Ceiling$1,143,309GrassrootsCeilingAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$266,807OtherCostOrOtherBasisAmt
Book Value$266,807BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$390,000InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$55,924,098OtherCostOrOtherBasisAmt
Depreciation$13,391,477DepreciationAmt
Book Value$42,922,621BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,319,034OtherCostOrOtherBasisAmt
Depreciation$3,083,155DepreciationAmt
Book Value$235,879BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$11,940,111OtherCostOrOtherBasisAmt
Depreciation$859,208DepreciationAmt
Book Value$11,080,903BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$54,506,210TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDescAmtAmt
INTEREST PAYABLE$338,980
REFUNDABLE ADVANCE$135,313
INTEREST RATE SWAPS$921,483
LINE OF CREDIT$1,241,348
FieldValueIRS element (for citing)
Total Liability$2,637,124TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$11,087,326TotalRevEtcAuditedFinclStmtAmt
Other Revenue$505,367OtherRevenueAmt
Revenue Not Reported$505,367RevenueNotReportedAmt
Revenue Subtotal$10,581,959RevenueSubtotalAmt
Other Revenues Not Included-$1,388OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt-$1,388RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$10,580,571TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$13,031,576TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$78,832OtherExpensesIncludedAmt
Expenses Not Reported$78,832ExpensesNotReportedAmt
Expenses Subtotal$12,952,744ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$12,952,744TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE ORGANIZATIONS ADOPTED GUIDANCE IN THE FASB ASC TOPIC, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE ORGANIZATIONS MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES, BASED UPON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE ORGANIZATIONS' TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATIONS HAVE TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE ORGANIZATIONS ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES BEFORE JUNE 30, 2018.
PART XI, LINE 2D - OTHER ADJUSTMENTS:GAIN ON INTEREST RATE SWAP AGREEMENT 505,367.
PART XI, LINE 4B - OTHER ADJUSTMENTS:FINANCIAL STATEMENTS ARE CONSOLIDATED: ELIMINATION ENTRIES 11,000. FINANCIAL STATEMENTS ARE CONSOLIDATED: EAST BALTIMORE DEVELOPMENT FOUNDATION -12,388.
PART XII, LINE 2D - OTHER ADJUSTMENTS:FINANCIAL STATEMENTS ARE CONSOLIDATED: EAST BALTIMORE DEVELOPMENT FOUNDATION 89,832. FINANCIAL STATEMENTS ARE CONSOLIDATED: ELIMINATION ENTRIES -11,000.
PART VI, LINE 1E - LAND, BUILDING, AND EQUIPMENT -THE OTHER ASSETS COST CONSIST OF PUBLIC PARK LAND, $9,855,866 PUBLIC PARK FIXED ASSETS, $2,084,245

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
CHERYL WASHINGTON
CEO$222,051$0$0$0$19,583$0$14,446$0$7,713$0$263,793$0$0$0
KAREN JOHNSON
CRO$207,649$0$0$0$18,750$0$13,604$0$14,220$0$254,223$0$0$0

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)

Bond ReferenceBondReferenceCdBond Issuer EINBondIssuerEINCUSIPCUSIPNumBond IssuedBondIssuedDtIssue PriceIssuePriceAmtPurposePurposeDescDefeasedDefeasedIndOn Behalf Of IssuerOnBehalfOfIssuerIndPool FinancingPoolFinancingInd
MARYLAND ECONOMIC DEVELOPMENT CORP
A53137656257420VMS92014-07-01$40,270,000REFINANCE CONSTRUCTION DEBT000
MARYLAND ECONOMIC DEVELOPMENT CORP
B5313765622014-07-01$22,000,000REFINANCE CONSTRUCTION DEBT000

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)

Bond ReferenceBondReferenceCdRetiredRetiredAmtTotal ProceedsTotalProceedsAmtIssuance Costs From ProceedsIssuanceCostsFromProceedsAmtCapital ExpendituresCapitalExpendituresAmtRefunding Tax Exempt BondsRefundingTaxExemptBondsIndRefunding Taxable BondsRefundingTaxableBondsIndFinal Allocation MadeFinalAllocationMadeIndAdequate Books And Rec MaintAdequateBooksAndRecMaintInd
A$1,125,000$40,270,000$795,140$39,474,860Yes (1)0Yes (1)Yes (1)
B$22,000,000$428,087$21,571,913Yes (1)0Yes (1)Yes (1)

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)

Bond ReferenceBondReferenceCdOwning Bond Financed PropertyOwningBondFinancedPropertyIndAny Lease ArrangementsAnyLeaseArrangementsIndMgmt Contract Bond Fincd PropMgmtContractBondFincdPropIndAny Research AgreementsAnyResearchAgreementsIndBond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestIndChange In Use Bond Financed PropChangeInUseBondFinancedPropIndProcs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
A000000Yes (1)
B000000Yes (1)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)

Bond ReferenceBondReferenceCdForm8038 T FiledForm8038TFiledIndVariable Rate IssueVariableRateIssueIndHedge Identified In Bks And RecHedgeIdentifiedInBksAndRecIndGross Proceeds Invested In GICGrossProceedsInvestedInGICIndGross Proceeds InvestedGrossProceedsInvestedIndWritten Proc To Monitor ReqsWrittenProcToMonitorReqsIndTerm Of HedgeTermOfHedgePctSuperintegrated HedgeSuperintegratedHedgeIndHedge TerminatedHedgeTerminatedInd
(no name)
AYes (1)0000Yes (1)
RAYMOND JAMES
BYes (1)Yes (1)Yes (1)00Yes (1)10.00000000000000

Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)

Bond ReferenceBondReferenceCdProcedures Corrective ActionProceduresCorrectiveActionInd
AYes (1)
BYes (1)

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART I, LINE 22AS PLANNED, EBDI FUNDED OPERATIONS WITH NEW MARKETS TAX CREDIT LOANS, WHICH CREATES A TIMING DIFFERENCE IN THE RECOGNITION OF EXPENSES AND CORRESPONDING REVENUE. THE REVENUE WAS RECOGNIZED WHEN THE LOANS WERE RETIRED WITH EXISTING COMMITMENTS OF TAX INCREMENT BONDS ISSUED BY THE CITY OF BALTIMORE AND THE FUNDING OF A MEMORANDUM OF UNDERSTANDING FROM THE ANNIE E. CASEY FOUNDATION. THE PLANNED USE OF NMTC LOANS DESCRIBED ABOVE RESULTED IN POSITIVE NET ASSETS FOR EBDI, AND WHEN COMBINED WITH THE NEGATIVE NET ASSETS OF 929 AFTER DEPRECIATION AND INTEREST, RESULTED IN NEGATIVE NET ASSETS FOR THE CONSOLIDATED ENTITIES AS OF JUNE 30, 2021.
FORM 990, PART VI, SECTION A, LINE 3NICOLE M. HARRELL, CPA, LLC PERFORMS ACCOUNTING CONSULTING RESPONSIBILITIES WHICH INCLUDES BANK RECONCILIATIONS, SUPERVISING OF THE ACCOUNTS PAYABLE AND RECEIVABLE ACTIVITY, FINANCIAL REPORTING PREPARATION, COMPLETION OF ANNUAL AUDIT AND FORM 990 PROCEDURES AND REPORTS TO THE CEO. SHE ALSO PERFORMS THE REVIEW OF MONTHLY FINANCIAL STATEMENTS AND COMPLETION OF EBDI FINANCE COMMITTEE AND BOARD PACKAGES FOR QUARTERLY MEETINGS. EBDI PAID HARRELL CPA $93,800 FOR THE ABOVE SERVICES DURING THE TAX YEAR. RUDOLPH ISAACS, CPA, PERFORMS THE REVIEW OF FINANCIAL STATEMENTS AND COMPLETION OF GREYSTAR MANAGEMENT/929 PORTION EBDI FINANCE COMMITTEE AND BOARD PACKAGES FOR QUARTERLY MEETINGS. ISAACS ALSO PROVIDED TECHNICAL ASSISTANCE AND KNOWLEDGE IN COMPLETING THE ANNUAL AUDIT OF EBDI. ISAACS PROVIDES MANAGEMENT SUPPORT RELATING TO GREYSTAR MANAGEMENT AND REPORTS RELATING TO 929. THIS INCLUDES REVIEW WEEKLY LEASING ACTIVITY AND WORK WITH GREYSTAR TO DEVELOP LEASING STRATEGIES. REPORTING TO EBDI MANAGEMENT ON THE RESULTS OF 929 ACTIVITY. EBDI PAID ISAACS $22,725 FOR THE ABOVE SERVICES DURING THE TAX YEAR.
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 WAS PREPARED BY RSM US IN CONSULTATION WITH AN ACCOUNTING CONSULTANT ENGAGED BY EBDI TO ASSIST WITH FINANCIAL REPORTING, AUDIT AND FORM 990. THE FORM WAS THEN REVIEWED WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AS WELL AS THE FINANCE/AUDIT COMMITTEE OF THE BOARD OF DIRECTORS IN MAY 2022 PRIOR TO SUBMISSION. THE FINANCE/AUDIT COMMITTEE INCLUDES SENIOR MANAGERS FROM SEVERAL FOUNDATIONS AND PARTNERS WITH NATIONAL AND LOCAL ACCOUNTING FIRMS. THE COMMENTS OF THE REVIEW TEAM WERE INCORPORATED INTO THE FINAL DOCUMENT AND EMAILED TO THE FULL BOARD OF DIRECTORS PRIOR TO SUBMISSION.
FORM 990, PART VI, SECTION B, LINE 12CEBDI HAS A WRITTEN CONFLICT OF INTEREST POLICY. KEY EMPLOYEES, OFFICERS AND DIRECTORS UPDATE THEIR DISCLOSURE STATEMENT ANNUALLY. WHENEVER THERE IS REASON TO BELIEVE THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN EBDI AND AN INTERESTED PARTY, THE BOARD OF DIRECTORS SHALL DETERMINE THE APPROPRIATE ORGANIZATIONAL RESPONSE. WHERE THE ACTUAL OR POTENTIAL CONFLICT EXISTS, THE CEO SHALL REVIEW THE MATTER AND TAKE APPROPRIATE ACTION AS NECESSARY TO PROTECT THE INTERESTS OF EBDI. THE CEO SHALL REPORT TO THE CHAIRMAN THE RESULTS OF ANY REVIEW AND THE ACTION PROPOSED TO BE TAKEN. THE CHAIRMAN, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, SHALL DETERMINE IF ANY FURTHER BOARD REVIEW OR ACTION IS REQUIRED. AN INTERESTED PARTY WHO HAS AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A PROPOSED ACTION OR TRANSACTION WITH EBDI SHALL NOT PARTICIPATE IN ANY WAY IN, OR BE PRESENT DURING, THE DELIBERATIONS AND DECISION MAKING RELATED TO THE PROPOSED ACTION OR TRANSACTION.
FORM 990, PART VI, SECTION B, LINE 15ATHE COMPENSATION OF THE PRESIDENT AND CEO IS ESTABLISHED BY THE BOARD OF DIRECTORS AND IS DETERMINED AND DOCUMENTED ANNUALLY BASED UPON COMPARABLE COMPENSATION DATA. BONUSES FOR THE PREVIOUS YEAR ARE DETERMINED BASED UPON ACHIEVEMENT OF SPECIFIC ORGANIZATIONAL GOALS. THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS ESTABLISHED BY THE PRESIDENT AND CEO WITH APPROVAL OF THE BOARD OF DIRECTORS THROUGH THE BUDGET PROCESS.
FORM 990, PART VI, SECTION C, LINE 19ORGANIZATIONAL DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC, FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D), UPON WRITTEN REQUEST TO THE ORGANIZATION. THE ORGANIZATION WILL ARRANGE A MUTUALLY CONVENIENT TIME FOR REVIEW AT THE MAIN OFFICE OF EBDI AT 929 N. WOLFE STREET, BALTIMORE, MARYLAND.
FORM 990, PART IX, LINE 11GINFRASTRUCTURE CONTRACTORS: PROGRAM SERVICE EXPENSES 648,587. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 648,587. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 2,315,290. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,315,290. ENGINEERING SERVICES: PROGRAM SERVICE EXPENSES 15,889. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,889. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 382,712. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 382,712.
FORM 990, PART XI, LINE 9:GAIN ON INTEREST RATE SWAP AGREEMENT 505,367.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Txt
1809 ASHLAND AVENUE LLC
929 N WOLFE ST STE 1106BALTIMOREMD21205412135971MANAGEMENT & OTHER REAL ESTATE ACTIVITIESMD$0$0EAST BALTIMORE DEVELOPMENT INC
929 N WOLFE STREET LLC
929 N WOLFE ST STE 1106BALTIMOREMD21205MANAGEMENT & OTHER REAL ESTATE ACTIVITIESMD$5,852,588$43,786,534EAST BALTIMORE DEVELOPMENT INC
R-ONE DEVELOPMENT LLC
929 N WOLFE ST STE 1106BALTIMOREMD21205MANAGEMENT & OTHER REAL ESTATE ACTIVITIESMD$0$0EAST BALTIMORE DEVELOPMENT INC

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1EAST BALTIMORE DEVELOPMENT FOUNDATION INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1929 N WOLFE ST STE 1106AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21205ZIPCd
FieldValueIRS element (for citing)
EIN263871581EIN
Primary ActivitiesSUPPORT THE CHARITABLE AND EDUCATIONAL PURPOSES OF EBDIPrimaryActivitiesTxt
Legal Domicile StateMDLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity Status11A-IPublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1EAST BALTIMORE DEVELOPMENT INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1EAST BALTIMORE COMMUNITY SCHOOL LAND CONDOMINIUM INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1929 N WOLFE ST STE 1106AddressLine1Txt
CityBALTIMORECityNm
State AbbreviationMDStateAbbreviationCd
ZIP21205ZIPCd
FieldValueIRS element (for citing)
Primary ActivitiesCONDOMINIUMPrimaryActivitiesTxt
Legal Domicile StateMDLegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1EAST BALTIMORE DEVELOPMENT INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Entity TypeCEntityTypeTxt
Ownership1.00000OwnershipPct
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgYes (1)GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd