Anne Arundel Economic Development Corporation logo

Anne Arundel Economic Development Corporation

Public charity · Grantmaker Annapolis, MD EIN: 52-1810772 Website

Anne Arundel Economic Development Corporation (AAEDC) is a public charity based in Annapolis, Maryland. It supports business growth and community revitalization in Anne Arundel County through business guidance, financing, and targeted grants.

Key facts about Anne Arundel Economic Development Corporation

In short: Anne Arundel Economic Development Corporation gave $828K across 22 grants in 2025 (avg $38K), mostly in Maryland. Source: 2025 IRS Form 990.

EIN
52-1810772
Latest 990 filing
Form 990, 2025
Annual giving (2025)
$828,177
Grants made (2025)
22
Average grant
$37,644
Median grant
$50,000
Total assets
$9,657,312
Primary geography
Maryland (100% of itemized 2025 grant dollars)

Data from IRS Form 990, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990 · View filing

Total Assets

$9.7M

-5.5% YoY

Annual Giving

$828K

+505.8% YoY

Grant Count

22

+175.0% YoY

Avg Grant Size

$38K

+120.3% YoY

How Anne Arundel Economic Development Corporation gives

  • 0% of 2025 grantees were also funded in 2024. Method
  • Giving grew 106% from 2022 to 2025. Method

Estimate from itemized grant lists in IRS Form 990 filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Research compiled by Grantable AI from public sources. Last updated September 2026.

Mission & Focus Areas

AAEDC’s stated mission is “to serve business needs and to increase Anne Arundel County economic base through job growth and investment.” Its website describes a broader mission of fostering diverse economic growth by empowering businesses, expanding job opportunities, and revitalizing communities in the county.

AAEDC’s grants support several purposes. The Agricultural Business Improvement Grant (ABIG) offers matching grants to farm-based businesses and commercial watermen for projects such as equipment, fencing, livestock, plant stock, and agricultural infrastructure. The Arundel Community Reinvestment Fund and Tandem Grant support exterior improvements to commercial properties in designated revitalization districts and targeted corridors. AAEDC also provides disaster-recovery assistance; its 2025 filing describes a one-time direct-grant program for small businesses severely affected by the Francis Scott Key Bridge collapse.

Other support includes loans and incentives. The filing describes loans for businesses located in or relocating to Anne Arundel County, while the VOLT Fund is a statewide financing program for eligible small, minority-, women-, and veteran-owned businesses. AAEDC also lists financing for technology companies and a reimbursable workforce-training grant for qualified businesses.

Grantmaking

In filing year 2025, AAEDC reported 22 grants totaling **$828,177**. Awards ranged from **$5,157 to $81,161**, with a median of **$50,000**. The filing attributes many awards to businesses affected by the Key Bridge collapse. The largest listed award was **$81,161 to Davy Dance Academy LLC** in Annapolis for a grant to business tenants to activate and restore business properties in support of economic development in Anne Arundel County. Other notable awards included **$55,000 to Capital SUP LLC** and **$50,000 each** to A Triple CCC Logistics LLC, B&G Services LLC, Blown 25, Candys Cans LLC, Cobe Marine II LLC, Da Bosley LLC, Datalite Networks LLC, Himmel’s Landscape and Garden Center, MJ Logistics LLC, and Repke Fitness LLC. The listed purposes for these awards included assistance to businesses affected by the Key Bridge collapse.

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Geographic Focus

Where this funder awards grants

AAEDC’s primary grant and business-support programs serve businesses and commercial properties in Anne Arundel County, Maryland. The listed 2025 grants all went to recipients in Maryland. Some financing programs have broader eligibility: the VOLT Fund is described as a statewide program, with eligibility tied to location near Maryland casinos or other stated criteria.

Grant Distribution by State

6states

Share of 2025 grant dollars across all 22 itemized grants.

Cities

AnnapolisGlen BurniePasadenaSeverna ParkOdentonGambrillsMillersvilleEdgewaterHanoverLinthicumCroftonLinthicum HeightsSevernDavidsonvilleCrownsvilleArnoldBaltimoreLaurelLothianDeale

Giving Over Time

Total grant dollars and number of grants per year

$0$5M$10M$15M200 grants2020 543 grants2021 14 grants2022 2 grants2023 8 grants2024 22 grants2025

From 2020 to 2025, annual grant giving ranged from $132K (2023) to $13.2M (2021). In 2025 it made 22 grants totaling $828K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Davy Dance Academy LLC: $81KDavy Dance Academy LLC$81KCapital Sup LLC: $55KCapital Sup LLC$55KA Triple CCC Logistics LLC: $50KA Triple CCC Logistics LLC$50KB&G Services LLC: $50KB&G Services LLC$50KBlown 25: $50KBlown 25$50KCandys Cans LLC: $50KCandys Cans LLC$50KCobe Marine II LLC: $50KCobe Marine II LLC$50KDa Bosley LLC: $50KDa Bosley LLC$50KDatalite Networks LLC: $50KDatalite Networks LLC$50KHimmel's Landscape and Garden Center: $50KHimmel's Landscape and GardenCenter$50K

The largest 2025 recipient was Davy Dance Academy LLC ($81K). Together the top 10 received $536K.

Grant Size Distribution

589 grants across all recorded years

499<$50K53$50–100K36$100–250K1$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 499 grants of 589 (85%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Davy Dance Academy LLC Annapolis, MDGrant to business tenants to activate & restore business properties to support economic development in anne Arundel county.$81,161
Capital Sup LLC Annapolis, MDBusiness affected by key bridge collapse, $50k. $5,000 inclusive ventures program $5k grant$55,000
A Triple CCC Logistics LLC Gambrills, MDBusiness Affected by Key Bridge Collapse$50,000
B&G Services LLC Pasadena, MDBusiness Affected by Key Bridge Collapse$50,000
Blown 25 Pasadena, MDBusiness Affected by Key Bridge Collapse$50,000
Candys Cans LLC Linthicum, MDBusiness Affected by Key Bridge Collapse$50,000
Cobe Marine II LLC Pasadena, MDBusiness Affected by Key Bridge Collapse$50,000
Da Bosley LLC Glen Burnie, MDBusiness Affected by Key Bridge Collapse$50,000
Datalite Networks LLC Brooklyn Park, MDBusiness Affected by Key Bridge Collapse$50,000
Himmel's Landscape and Garden Center Pasadena, MDBusiness Affected by Key Bridge Collapse$50,000

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants
2025 $9,657,312 $6,100,708 $5,999,965 $828,177
2024 $10,217,914 $4,386,829 $4,463,024 $136,714
2023 $10,622,173 $3,689,720 $3,722,389 $131,683
Revenue
Expenses
Net Investment Income
$0$10M$20M$30M$40M2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$9,657,312$10,217,914$10,622,173
Revenue$6,100,708$4,386,829$3,689,720
Expenses$5,999,965$4,463,024$3,722,389
Net Investment Income$278,705$55,906$6,445

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2020 (received by the IRS March 22, 2021)
  2. Updated Form 990 for fiscal year 2021 (received by the IRS May 15, 2022)
  3. Updated Form 990 for fiscal year 2022 (received by the IRS May 9, 2023)
  4. Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
  5. Updated Form 990 for fiscal year 2024 (received by the IRS April 30, 2025)
  6. Added Form 990 for fiscal year 2025 (received by the IRS May 6, 2026)
  7. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2025 filing lists Eric Devito as chair, Kevin Carter as vice chair, and Kathleen McCollum as secretary/treasurer. It also lists Jeffrey Armiger as treasurer until September 2024; Phiona Bareebe, Ann Brennan, M James Faison, and Paul Gable as board members; and Hamilton Chaney and Stuart Forsyth as board members until June and May 2025, respectively.

Anne Arundel Economic Development Corporation is led by Amy Gowan, President & CEO since 2024 (on filings since 2023); 9 of 26 officers listed in 2025 are compensated.

Officers on the 2025 filing

  • Amy Gowan

    President & CEO

    President & CEO From April → President & CEO, 2024

    On filings since 2023

    40 hrs/week

    No compensation reported

  • Eric Devito

    Chair

    Chairman → Chairman of the Board, 2022

    Chairman of the Board → Chair, 2024

    On filings since 2020

    10 hrs/week

    No compensation reported

  • Jonathan Boniface

    Director of Research & Program Development

    On filings since 2024

    40 hrs/week

    $109K (2024) → $127K (2025)

  • Anita Dweling

    Business Development Director

    New on the 2025 filing

    40 hrs/week

    $107K (2025)

  • Jill Porter

    Business Development Director

    New on the 2025 filing

    40 hrs/week

    $107K (2025)

  • Stephen Primosch

    Vice President & Financial Services

    V.p. Financial Services → V.p. of Financial Services, 2022

    V.p. of Financial Services → Vice President & Financial Services, 2025

    On filings since 2020

    40 hrs/week

    $113K (2020) → $144K (2025)

  • Wesley Macquilliam

    Chief Operating Officer

    V.p., Bus. Dev't & Real Estate → V.p., Bus. Dev't & Real Es, 2023

    V.p., Bus. Dev't & Real Es → Chief Operating Officer, 2024

    On filings since 2021

    40 hrs/week

    $105K (2021) → $166K (2025)

  • Christina Holliday

    Chief of Staff

    On filings since 2024

    40 hrs/week

    $109K (2024) → $114K (2025)

  • Lisa Grunder

    Vice President & Administration

    Vice President of Administration → Vice President & Administration, 2025

    On filings since 2024

    40 hrs/week

    $111K (2024) → $126K (2025)

  • Grayson Orphe

    Creative & It Manager

    New on the 2025 filing

    40 hrs/week

    $106K (2025)

  • Victoria Zelefsky

    Vice President & Communications

    New on the 2025 filing

    40 hrs/week

    $97K (2025)

  • Eliot Powell

    Board Member

    Board Member → Member, 2021

    Member → Board Member, 2022

    On filings since 2020

    2 hrs/week

    No compensation reported

  • Hamilton Chaney

    Board Member

    Board Member → Member, 2021

    Member → Board Member, 2022

    On filings since 2020

    2 hrs/week

    No compensation reported

  • Jeffrey Armiger

    Treasurer

    On filings since 2020

    5 hrs/week

    No compensation reported

  • Kathleen McCollum

    Secretary & Treasurer

    Board Member → Secretary, 2023

    Secretary → Secretary & Treasurer, 2025

    On filings since 2020

    5 hrs/week

    No compensation reported

  • Kevin Carter

    Vice Chair

    Member → Board Member, 2022

    Board Member → Vice Chair, 2023

    On filings since 2020

    5 hrs/week

    No compensation reported

  • Paul Gable

    Board Member

    Secretary → Board Member, 2023

    On filings since 2020

    2 hrs/week

    No compensation reported

  • Phiona Bareebe

    Board Member

    Board Member → Member, 2021

    Member → Board Member, 2022

    On filings since 2020

    2 hrs/week

    No compensation reported

  • Kayla Griffith

    Board Member

    Member → Board Member, 2022

    On filings since 2021

    2 hrs/week

    No compensation reported

  • Stuart Forsyth

    Board Member

    Member → Board Member, 2022

    On filings since 2021

    2 hrs/week

    No compensation reported

  • Ann Brennan

    Board Member

    On filings since 2023

    2 hrs/week

    No compensation reported

  • M. James Faison

    Board Member

    On filings since 2023

    2 hrs/week

    No compensation reported

  • Jason Weisberg

    Board Member

    On filings since 2024

    2 hrs/week

    No compensation reported

  • Stephanie Gary

    Board Member

    On filings since 2024

    2 hrs/week

    No compensation reported

  • Brad Nordholm

    Board Member

    New on the 2025 filing

    2 hrs/week

    No compensation reported

  • Scott Orlove

    Board Member

    New on the 2025 filing

    2 hrs/week

    No compensation reported

Former officers (13)
  • Former: Jill Seamon (2020–2024) — Administrative Officer
  • Former: Tyler Patton (2022–2024) — Board Member to September
  • Former: Jeffery Armiger (2023–2024) — Treasurer
  • Former: Joel Rozner (2020–2023) — Vice Chair to Mar
  • Former: Mariam Nassier-Pelletier (2020–2023) — Board Member to May
  • Former: Rosa Cruz-Penefiel (2020–2023) — V.p. of Communications
  • Former: Kevin Nolan (2021–2023) — Board Member to Feb
  • Former: Jeff Armiger (2021–2022) — Treasurer
  • Former: Benjamin Birge (2022) — President & CEO
  • Former: Jerry Walker (2020) — President & CEO
  • Former: John Shetrone (2020) — Board Member
  • Former: Jose Boluda (2020) — Board Member
  • Former: Ron Dillon (2020) — Board Member

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2025 IRS filing

Wesley Macquilliam — Chief Operating Officer: $166KWesley MacquilliamChief Operating Officer$166KStephen Primosch — Vice President, Financial Services: $144KStephen PrimoschVice President, Financial…$144KJonathan Boniface — Director of Research & Program Development: $127KJonathan BonifaceDirector of Research & Program…$127KLisa Grunder — Vice President, Administration: $126KLisa GrunderVice President, Administration$126KChristina Holliday — Chief of Staff: $114KChristina HollidayChief of Staff$114KJill Porter — Business Development Director: $107KJill PorterBusiness Development Director$107KAnita Dweling — Business Development Director: $107KAnita DwelingBusiness Development Director$107KGrayson Orphe — Creative and It Manager: $106KGrayson OrpheCreative and It Manager$106KVictoria Zelefsky — Vice President, Communications: $97KVictoria ZelefskyVice President, Communications$97K

The highest reported compensation on the 2025 filing was $166K, to Wesley Macquilliam (Chief Operating Officer). 9 officers or directors reported compensation on that filing.

Contact

Mailing address: 2660 Riva Road 200, Annapolis, MD 21401
Phone: (410) 222-7410
Website: https://aaedc.org

Frequently asked questions about Anne Arundel Economic Development Corporation

How much does Anne Arundel Economic Development Corporation give each year?

Anne Arundel Economic Development Corporation gave $828K across 22 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $137K across 8 grants.

What is Anne Arundel Economic Development Corporation's typical grant size?

Anne Arundel Economic Development Corporation's median grant in 2025 was $50,000, and its average grant was $37,644, across 22 grants on its 2025 IRS Form 990.

Where does Anne Arundel Economic Development Corporation give grants?

Anne Arundel Economic Development Corporation gives mostly in Maryland: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Glen Burnie, MD (6 grants), Pasadena, MD (4 grants), Annapolis, MD (4 grants) and Hanover, MD (2 grants).

Does Anne Arundel Economic Development Corporation give general operating support?

Not in 2025: none of the 22 grants with a stated purpose on Anne Arundel Economic Development Corporation's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Business Affected by Key Bridge Collapse" (15 grants).

Who are Anne Arundel Economic Development Corporation's largest grantees?

Anne Arundel Economic Development Corporation's largest 2025 grantees include Davy Dance Academy LLC ($81,161), Capital Sup LLC ($55,000) and A Triple CCC Logistics LLC ($50,000), according to its 2025 IRS Form 990. Together they received 22% of its itemized 2025 grant dollars.

How large is Anne Arundel Economic Development Corporation?

Anne Arundel Economic Development Corporation reported $9.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $6.1M.

What does Anne Arundel Economic Development Corporation fund?

AAEDC’s stated mission is “to serve business needs and to increase Anne Arundel County economic base through job growth and investment.” See mission & focus areas ↑

How do I apply for a grant from Anne Arundel Economic Development Corporation?

Anne Arundel Economic Development Corporation has no public application process in the sources Grantable reviewed. Check aaedc.org for current guidelines, or contact the foundation directly before submitting a request.

What is Anne Arundel Economic Development Corporation's EIN?

Anne Arundel Economic Development Corporation's EIN (Employer Identification Number) is 52-1810772. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.

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