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      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>4108136</BeginningOfYearBalance>
        <Contributions>150000</Contributions>
        <InvestmentEarningsOrLosses>1106938</InvestmentEarningsOrLosses>
        <OtherExpenditures>465000</OtherExpenditures>
        <EndOfYearBalance>4900074</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>3735223</BeginningOfYearBalance>
        <InvestmentEarningsOrLosses>473133</InvestmentEarningsOrLosses>
        <OtherExpenditures>100220</OtherExpenditures>
        <EndOfYearBalance>4108136</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <BoardDesignatedEOYBalance>0.91870</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.06340</PermanentEndowmentEOYBalance>
      <TermEndowmentEOYBalance>0.01790</TermEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>false</AreRelatedOrgsListedScheduleR>
      <Land>
        <OtherCostOrOtherBasis>4412766</OtherCostOrOtherBasis>
        <BookValue>4412766</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>37783876</OtherCostOrOtherBasis>
        <Depreciation>15046122</Depreciation>
        <BookValue>22737754</BookValue>
      </Buildings>
      <Equipment>
        <OtherCostOrOtherBasis>13996620</OtherCostOrOtherBasis>
        <Depreciation>10512935</Depreciation>
        <BookValue>3483685</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>3951682</OtherCostOrOtherBasis>
        <Depreciation>2392845</Depreciation>
        <BookValue>1558837</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>32193042</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>INTEREST RATE SWAP</Description>
        <Amount>123156</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>CAPITAL LEASE OBLIGATION</Description>
        <Amount>606557</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>729713</TotalOfAmounts>
      <TotalRevenue>9373728</TotalRevenue>
      <TotalExpenses>10092176</TotalExpenses>
      <ExcessOrDeficitForYear>-718448</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>-391552</NetUnrealizedGLOnInvestments>
      <OtherAmount>135629</OtherAmount>
      <TotalAdjustments>-255923</TotalAdjustments>
      <ExcessOrDeficitPerFS>-974371</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>9689546</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>-391552</NetUnrealizedGainsInvestments>
      <OtherRevenues>743859</OtherRevenues>
      <RevenueNotRptdF990>352307</RevenueNotRptdF990>
      <RevenueSubtotal>9337239</RevenueSubtotal>
      <InvestmentExpensesNotIncluded>36489</InvestmentExpensesNotIncluded>
      <RevenueNotRptdOnFinStmt>36489</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>9373728</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>10663917</TotExpensesEtcAuditedFinclStmt>
      <OtherExpensesIncluded>608230</OtherExpensesIncluded>
      <ExpensesNotRptdF990>608230</ExpensesNotRptdF990>
      <ExpensesSubtotal>10055687</ExpensesSubtotal>
      <InvestmentExpensesNotIncluded2>36489</InvestmentExpensesNotIncluded2>
      <ExpensesNotRptdOnFinStmt>36489</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>10092176</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>Part XIII, Line 2d</Identifier>
        <ReturnReference>Part XIII, Line 2d: Other expenses and losses per audited F/S</ReturnReference>
        <Explanation>RENTAL EXPENSES SHOWN NET ON T/R $228700 SPECIAL EVENT EXPENSES SHOWN NET ON T/R $110235 COST OF GOODS SOLD SHOWN NET ON T/R $269295</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Part XII, Line 2d</Identifier>
        <ReturnReference>Part XII, Line 2d: Other revenue amounts included in F/S but not included on form 990</ReturnReference>
        <Explanation>RENTAL EXPENSES SHOWN NET ON T/R $228700 SPECIAL EVENT EXPENSES SHOWN NET ON T/R $110235 COST OF GOODS SOLD SHOWN NET ON T/R $269295 CHANGE IN VALUE OF INTEREST RATE SWAP $135629</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Part XI, Line 8</Identifier>
        <ReturnReference>Part XI, Line 8: Other Changes in Net Assets or Fund Balances</ReturnReference>
        <Explanation>CHANGE IN VALUE OF INTEREST RATE SWAP $135629</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Part III, Line 4</Identifier>
        <ReturnReference>Part III, Line 4: Description of organization's collections and how it furthers its purpose.</ReturnReference>
        <Explanation>THE ORGANIZATION HAS A COLLECTION OF MAPS OF THE CITY THE ORGANIZATION IS LOCATED IN AND VARIOUS SURROUNDING AREAS. THEY WERE DONATED TO THE ORGANIZATION PRIOR TO 1938. THESE MAPS WERE ON LOAN TO A LOCAL PUBLIC LIBRARY FOR DISPLAY AND HAVE RECENTLY BEEN RETURNED TO THE ORGANIZATION.</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleG documentId="IRS990ScheduleG" softwareId="11000144" softwareVersion="2011v1.2">
      <AgreementRefFundraising>false</AgreementRefFundraising>
      <EventsInformation>
        <NameOfEvent1>SOLSTICE</NameOfEvent1>
        <GrossReceiptsEvent1>362508</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>330383</CharitableContributionsEvent1>
        <GrossRevenueEvent1>32125</GrossRevenueEvent1>
        <OtherDirectExpensesEvent1>110235</OtherDirectExpensesEvent1>
        <GrossReceiptsTotal>362508</GrossReceiptsTotal>
        <CharitableContributionsTotal>330383</CharitableContributionsTotal>
        <GrossRevenueTotalEvents>32125</GrossRevenueTotalEvents>
        <OtherDirectExpensesTotalEvents>110235</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>110235</DirectExpenseSummaryEvents>
        <NetIncomeSummary>-78110</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="IRS990ScheduleI" softwareId="11000144" softwareVersion="2011v1.2">
      <RecordsMaintained>true</RecordsMaintained>
      <NoGrantMoreThan5000>X</NoGrantMoreThan5000>
      <TotalNbrOf501C3AndGovtGrants>0</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>OUTSTANDING YOUNG SCIENTIST</TypeOfGrant>
        <NumberOfRecipients>1</NumberOfRecipients>
        <AmountOfCashGrant>2500</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>OUTSTANDING YOUNG ENGINEER</TypeOfGrant>
        <NumberOfRecipients>1</NumberOfRecipients>
        <AmountOfCashGrant>2500</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>GLASS SCHOLARSHIP RECIPIENTS</TypeOfGrant>
        <NumberOfRecipients>2</NumberOfRecipients>
        <AmountOfCashGrant>3000</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>Grantmaker's Description of How Grants are Used</Identifier>
        <Explanation>SCHEDULE I, PART 1, LINE 2: THE MONITORING PROCESS FOR SCHOLARSHIPS IS DIRECT PAYMENT TO THE RECIPIENTS' COLLEGE.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ" softwareId="11000144" softwareVersion="2011v1.2">
      <CompensationCommittee>X</CompensationCommittee>
      <CompensationSurvey>X</CompensationSurvey>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <RebuttablePresumptionProcedure>false</RebuttablePresumptionProcedure>
      <Form990ScheduleJPartII>
        <NamePerson>VAN R REINER</NamePerson>
        <BaseCompensationFilingOrg>170535</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>5116</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>6816</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>182467</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK.1" softwareId="11000144" softwareVersion="2011v1.2">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>MARYLAND ECONOMIC DEVELOP</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>521376562</IssuerEIN>
        <CUSIPNumber>57420NAN1</CUSIPNumber>
        <DateIssued>2003-04-01</DateIssued>
        <IssuePrice>14000000</IssuePrice>
        <DescriptionOfPurpose>TO FINANCE AND REFINANCE COSTS</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <AmountRetired>8400000</AmountRetired>
        <TotalProceeds>14000000</TotalProceeds>
        <IssuanceCostsFromProceeds>21998</IssuanceCostsFromProceeds>
        <CapitalExpenditures>13978002</CapitalExpenditures>
        <YearOfSubstCompletion>2004</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <PercentageOfPrvtBusinessReUBI>0.22000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.22000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <FedTaxRequirementsCompliance>X</FedTaxRequirementsCompliance>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="11000144" softwareVersion="2011v1.2">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE IF REQUESTED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11: Form 990 Review Process</ReturnReference>
        <Explanation>THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING AND SUBSEQUENTLY MADE AVAILABLE TO ALL BOARD MEMBERS. ADDITIONALLY, THE CFO/COO OF THE ORGANIZATION REVIEWS THE 990 BEFORE FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part III, Line 4d</Identifier>
        <ReturnReference>Form 990, Part III, Line 4d : Other Program Services Description</ReturnReference>
        <Explanation>OTHER PROGRAM SERVICES 4: GUEST SERVICES - COMMITTED TO UNHINDERED ACCESS, THE SCIENCE CENTER'S GUEST SERVICES STAFF ENSURES THAT EVERYONE WHO WANTS TO EXPERIENCE ALL THE INSTITUTION HAS TO OFFER CAN DO SO REGARDLESS OF DISABILITY OR OTHER ACCESS CHALLENGES. OTHER PROGRAM SERVICES 5: SCIENCE STORE - THE STORE PROVIDES EDUCATORS WITH TEACHING AIDS, BOOKS, MODELS AND OTHER ITEMS THAT EXTEND THE LESSON OF THE VISIT BACK IN THE CLASSROOM. PARENTS CAN AVAIL THEMSELVES OF UNIQUE LEARNING TOOLS, COMPUTER PROGRAMS, SCIENCE KITS AND OTHER EDUCATIONAL PRODUCTS NOT READY AVAILABLE AT CONVENTIONAL RETAIL OUTLETS. OTHER PROGRAM SERVICES 6: MEMBERSHIP - MEMBERS HELP MAKE PROGRAMMING POSSIBLE AT THE MARYLAND SCIENCE CENTER THROUGH THEIR CONTRIBUTIONS TO THE MEMBERSHIP PROGRAM. AS A PARTNER WITH THE SCIENCE CENTER, MEMBERS ARE VESTED IN THE INSTITUTION AND ARE PART OF A COMMUNITY OF PEOPLE WHO VALUE SCIENCE EDUCATION AND THE IMPORTANT ROLE THAT SCIENCE PLAYS IN OUR EVERYDAY LIVES.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>