Anne Arundel Economic Development
The Anne Arundel Economic Development Corporation (AAEDC) is a nonprofit organization headquartered in Annapolis, Maryland, that serves as a catalyst for business growth in Anne Arundel County. The organization supports businesses of all sectors and sizes by providing financing, technical assistance, and regulatory guidance to help them focus on their core mission and growth.
Key facts about Anne Arundel Economic Development
- EIN
- 52-1810772
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $136,714
- Grants made (2024)
- 8
- Average grant
- $17,089
- Median grant
- $12,792
- Total assets
- $10,217,914
- Primary geography
- Maryland (82% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Anne Arundel Economic Development funds
By grant dollars, the top recipient states for Anne Arundel Economic Development's 8 itemized 2024 grants were Maryland (82%) and New York (18%). The most frequent recipient cities were Annapolis, MD (2 grants) and Glen Burnie, MD (2 grants). None of its 8 grants with a stated purpose were described as general or operating support. Recurring purposes include "Acr Grant" (4 grants).
How Anne Arundel Economic Development gives
- Giving fell 99% from 2021 to 2024. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Anne Arundel Economic Development
- How to evaluate Anne Arundel Economic Development as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$10.2M
-3.8% YoY
Annual Giving
$137K
+3.8% YoY
Grant Count
8
+300.0% YoY
Avg Grant Size
$17K
-74.0% YoY
Mission & Focus Areas
Mission: To serve business needs and increase Anne Arundel County's economic base through job growth and investment.
Primary Program Areas:
Financial Services: Provides loans to businesses located in or relocating to Anne Arundel County, Maryland, for the purpose of encouraging business development within the county.
Maryland Small Minority and Women-Owned Business Loan Fund Management: Manages Maryland's small minority and women-owned business loan fund, which receives 1.5% of video lottery terminal revenue from Maryland casinos. This program serves small, minority, women, and veteran-owned businesses located within 10 miles of any of Maryland's three casinos, as well as those located elsewhere in the state. Eligible businesses may receive loans between $25,000 to $500,000 for purposes including business and commercial real estate acquisition and expansion, leasehold improvements, and equipment.
Agricultural Marketing: Provides leasing of agricultural equipment and objects and promotes the development of agriculture in Anne Arundel County and southern Maryland.
Business Attraction and Retention: Offers real estate consulting, labor workforce information, county demographics, business loans, and new and expanding company lists.
Grantmaking
AAEDC functions as both a lender and grantmaker. Recent grant activity includes:
Grant Types
Ready to take the next step with Anne Arundel Economic Development?
Geographic Focus
Where this funder awards grants
AAEDC primarily funds and serves businesses in Anne Arundel County, Maryland. The organization also manages statewide programs, including the Maryland Small Minority and Women-Owned Business Loan Fund, which serves eligible businesses throughout Maryland.
Grant Distribution by State
Share of all 8 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $10,217,914
- Total Revenues: $4,386,829
- Total Expenses: $4,463,024
- Total Giving: $884,844
- Number of Employees: 20
Funding History: In May 2025, AAEDC received a grant of $1.6 million from the Baltimore Community Foundation.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $10,217,914 | $10,622,173 | $9,320,610 |
| Revenue | $4,386,829 | $3,689,720 | $3,951,927 |
| Expenses | $4,463,024 | $3,722,389 | $3,576,284 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $55,906 | $6,445 | $1,916 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
767 grants across all recorded years
Open Grants
4 open opportunities from Anne Arundel Economic Development
Next Stage Fund
Anne Arundel Economic Development
Amount
$50,000 - $250,000
Deadline
Rolling / Open
Runway to Success Program Powered by Southwest Airlines
Anne Arundel Economic Development
Amount
Two Southwest Airlines one-way e-passes per awardee
Deadline
Rolling / Open
VOLT Fund (Video Lottery Terminal Fund)
Anne Arundel Economic Development
Amount
$25,000 - $500,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Pips Dock Street Dogs LLC ($44,333), Seasalt Restaurant ($25,000), John Wesley United Methodist Church ($15,200).
| Recipient | Purpose | Amount |
|---|---|---|
| PIPS DOCK STREET DOGS LLC Annapolis, MD | VOLT DISASTER GRANT | $44,333 |
| SEASALT RESTAURANT Annapolis, NY | ACR GRANT | $25,000 |
| JOHN WESLEY UNITED METHODIST CHURCH Glen Burnie, MD | ACR GRANT | $15,200 |
| NORTHERN ANNE ARUNDEL COUNTY CHAMBER OF COMMERCE Glen Burnie, MD | ACR GRANT | $13,308 |
| 5828 RITCHIE HOLDINGS LLC Baltimore, MD | ACR GRANT | $12,276 |
| NEW ROOTS FARM West River, MD | AG MINI GRANT | $10,000 |
| MILONE ART LLC DBA ANNAPOLIS MARINE ART GALLERY Annapolis, MD | VOLT DISASTER GRANT | $9,282 |
| OMNYON LLC Odenton, MD | WORKFORCE TRAINING GRANT | $7,315 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Eric DeVito: Principal Officer
- Jill Porter: Business Development Director
- Steve Adams: Marketing & Outreach Manager
- Victoria Zelefsky: VP of Communications
- Amy Gowan: Staff member
- Barbara Quaye: Staff member
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Eric Devito | Chair | 10 | — |
| Kevin Carter | Vice Chair | 5 | — |
| Jeffery Armiger | Treasurer | 5 | — |
| Kathleen McCollum | Secretary | 5 | — |
| Phiona Bareebe | Board Member | 2 | — |
| Ann Brennan | Board Member | 2 | — |
| Hamilton Chaney | Board Member | 2 | — |
| M James Faison | Board Member | 2 | — |
| Stuart Forsyth | Board Member | 2 | — |
| Paul Gable | Board Member | 5 | — |
| Stephanie Gary | Board Member | 2 | — |
| Kayla Griffith | Board Member | 2 | — |
| Eliot Powell | Board Member | 2 | — |
| Jason Weisberg | Board Member | 2 | — |
| Tyler Patton | Board Member to September 2023 | 2 | — |
| Stephen Primosch | V.P. of Financial Services | 40 | $140,720 |
| Wesley Macquilliam | Chief Operating Officer | 40 | $146,752 |
| Lisa Grunder | Vice President of Administration | 40 | $110,854 |
| Amy Gowan | President/CEO | 40 | — |
| Jill Seamon | Administrative Officer | 40 | $155,161 |
| Jonathan Boniface | Dir. of Research & Program Dev. | 40 | $108,818 |
| Christina Holliday | Chief of Staff | 40 | $109,139 |
Recent News & Activity
Recent developments and announcements
**June 2025:** AAEDC partnered with the Baltimore Community Foundation and Greater Baltimore Committee to award $3 million in grants to 66 small businesses affected by the Key Bridge collapse.
AAEDC, MARBIDCO award over $53,500 to 9 farm businesses**Agricultural Grant Programs:** AAEDC has launched new grant programs for farm-based businesses in partnership with MARBIDCO, with multiple rounds of awards announced to farm-based businesses and commercial watermen.
AAEDC, MARBIDCO award over $53,500 to 9 farm businesses**Revitalization Initiatives:** AAEDC announced a new Revitalization Tandem Grant Initiative in partnership with Anne Arundel County Executive Pittman.
Anne Arundel Economic Development Corporation Launches New Grant ProgramContact Information
Address: 2660 Riva Road, Suite 200, Annapolis, MD 21401
Phone: 410-222-7410 / 410-222-7415
Email: info@aaedc.org
Website: aaedc.org
EIN: 52-1810772
Tax-Exempt Status: 501(c)(3) public charity, tax-exempt since June 1994
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Anne Arundel Economic Development fund?
**Mission:** To serve business needs and increase Anne Arundel County's economic base through job growth and investment. **Primary Program Areas:** • **Financial Services:** Provides loans to businesses located in or relocating to Anne Arundel County, Maryland, for the purpose of encouraging business development within the county. • **Maryland Small Minority and Women-Owned Business Loan Fund Management:** Manages Maryland's small minority and women-owned business loan fund, which receives 1.5%…
How do I apply for a grant from Anne Arundel Economic Development?
AAEDC functions as both a lender and grantmaker. Recent grant activity includes: • **Total Giving (2024):** $884,844 • **Typical Award Range:** $5,000–$110,000 • **Grant Types:** The organization awards grants to small businesses, particularly those affected by economic disruptions and in targeted sectors like agriculture. **Recent Grant Activity:** In June 2025, AAEDC partnered with the Baltimore Community Foundation and the Greater Baltimore Committee to award $3 million in grants to 66 small…
Where does Anne Arundel Economic Development make grants?
AAEDC primarily funds and serves businesses in Anne Arundel County, Maryland. The organization also manages statewide programs, including the Maryland Small Minority and Women-Owned Business Loan Fund, which serves eligible businesses throughout Maryland.
What size grants does Anne Arundel Economic Development award?
In 2024, Anne Arundel Economic Development awarded 8 grants totaling $137K — an average of about $17K per grant, based on its IRS Form 990 filings.
What is Anne Arundel Economic Development's EIN?
Anne Arundel Economic Development's EIN (Employer Identification Number) is 52-1810772. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.