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.
Executive compensation, broken down
Form 990 · Part VII & Schedule J · 6 reported individuals · Filing year 2023
Percentile bands compare each position's total pay with the same role at nonprofits nationwide, across all sectors.
- Base
- $319k
- Bonus
- —
- Other
- $258
- Benefits
- $45k
- Base
- $184k
- Bonus
- —
- Other
- $13k
- Benefits
- $2k
- Base
- $153k
- Bonus
- —
- Other
- $15k
- Benefits
- $32k
- Base
- $135k
- Bonus
- —
- Other
- $7k
- Benefits
- $11k
- Base
- $123k
- Bonus
- —
- Other
- $7k
- Benefits
- $19k
- Base
- $96k
- Bonus
- —
- Other
- $30k
- Benefits
- $13k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
Executive Director and Secretary Above 90th percentile | $319k | — | $258 | $45k | $413k $454k |
CFO 75th to 90th percentile | $184k | — | $13k | $2k | $228k $251k |
Director of Re & Development 75th to 90th percentile | $153k | — | $15k | $32k | $226k $248k |
Director of Financing Highest Compensated Employee Median to 75th percentile | $135k | — | $7k | $11k | $174k $192k |
Director of Innovation & Strategic Partnerships Highest Compensated Employee Median to 75th percentile | $123k | — | $7k | $19k | $168k $184k |
Asst Director of Financing Highest Compensated Employee 25th percentile to median | $96k | — | $30k | $13k | $159k $174k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with Baltimore-Columbia-Towson, MD metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 14 unpaid individuals.
Up 9%
from 2022
From $379k in 2022 to $413k in 2023.
Estimated with Baltimore-Columbia-Towson, MD metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.
Chief Executive Officer pay rose 9% from 2022 to 2023, while revenue rose 4%.
- Chief Financial Officer pay rose 7% from 2022 to 2023.
- Chief Development Officer pay rose 18% from 2022 to 2023.
Pay for the position itself, not any one person. The officeholder may have changed between 2022 and 2023.
Revenue and expenses over time
MARYLAND ECONOMIC DEVELOPMENT CORPORATION reported revenue and expenses across 2 filing years.
Common questions about MARYLAND ECONOMIC DEVELOPMENT CORPORATION
What does the Chief Executive Officer of MARYLAND ECONOMIC DEVELOPMENT CORPORATION earn?
In 2023, the Chief Executive Officer of MARYLAND ECONOMIC DEVELOPMENT CORPORATION received $413,172 in total compensation. This pay is in the top 10% for Chief Executive Officer roles among nonprofits nationwide, across all sectors: at least 9 in 10 comparable filings report less. Based on IRS Form 990 data.
How does Chief Executive Officer pay at MARYLAND ECONOMIC DEVELOPMENT CORPORATION compare with similar nonprofits?
Compared with the same role at nonprofits nationwide, across all sectors, the 2023 pay of the Chief Executive Officer at MARYLAND ECONOMIC DEVELOPMENT CORPORATION falls in the top 10%.
What are MARYLAND ECONOMIC DEVELOPMENT CORPORATION's revenue and expenses?
In 2023, MARYLAND ECONOMIC DEVELOPMENT CORPORATION reported $210.5M in total revenue and $219.2M in total expenses on its IRS Form 990.
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