Rockville Economic Development Inc
Rockville Economic Development, Inc. (REDI) is a public charity based in Rockville, Maryland. Formed in 1997 as a public-private partnership by the City of Rockville, it works to strengthen the city’s economic base through business entrepreneurship, expansion, retention, and recruitment.
Rockville Economic Development Inc at a glance
In short: Rockville Economic Development Inc gave $193K across 16 grants in 2025 (avg $12K), mostly in Maryland. 69% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $193,016
- -51.5% vs 2024
- Grants made (2025)
- 16
- +45.5% vs 2024
- Average grant
- $12,064
- -66.6% vs 2024
- Median grant
- $7,524
- Total assets
- $1,951,429
- +3.6% vs 2024
- New grantees (estimate)
- 69% first-time grantees (11 of 16, 2025; small sample)
- Primary geography
- Maryland (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Rockville Economic Development Inc
- How to Apply
-
The website directs applicants to complete the online application for the relevant program and submit the required supporting documentation. Program eligibility is limited to businesses locating in or operating within Rockville’s corporate limits, with additional requirements varying by program.
- Review Cycle
- The MOVE and Business Expansion Fund have two stated application deadlines each year: April 30 and September 30.
- Deadline
- The MOVE and Business Expansion Fund have two stated application deadlines each year: April 30 and September 30.
- Contact
Mailing address: 51 Monroe Street Pe-20, Rockville, MD 20850
Phone: (301) 315-8096
Website: https://rockvilleredi.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Rockville Economic Development Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Podville Media ($40K). Together the top 10 received $154K.
Grant Size Distribution
47 grants across all recorded years
The most common grant size was under $50K: 43 grants of 47 (91%).
Geographic Focus
Where this funder awards grants
REDI’s programs are directed to businesses locating in or operating within the City of Rockville, subject to program-specific eligibility requirements. All grant dollars reported for filing year 2025 went to recipients in Maryland.
Grant Distribution by State
Share of 2025 grant dollars across all 16 itemized grants.
States
Cities
Is Rockville Economic Development Inc open to new grantees?
69%
first-time grantees, 2025
In 2025, 11 of 16 grantees (69%) were first-time recipients. With only 16 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $14K; repeat grants $8K. How we count
Medians: $13K first-time, $8K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2018–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2018 to 2025, annual grant giving ranged from $72K (2018) to $592K (2023). In 2025 it made 16 grants totaling $193K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Podville Media Rockville, MD | Impact program payment for small business impact program that redi oversees. | $40,000 |
| Montgomery County Green Bank Corporation Rockville, MD | Impact program payment for small business impact program that redi oversees. | $25,520 |
| The Tot Space Rockville, MD | Impact program payment for small business impact program that redi oversees. | $15,440 |
| Next Level Rentals & Realty Rockville, MD | Impact program payment for small business impact program that redi oversees. | $15,000 |
| The Center for Rheumatic Diseases Rockville, MD | Impact program payment for small business impact program that redi oversees. | $13,600 |
| Julian Sisman DBA Prepare for Performance Rockville, MD | Impact program payment for small business impact program that redi oversees. | $12,500 |
| Gowda Informatics Automation and Technologies LLC Rockville, MD | Impact program payment for small business impact program that redi oversees. | $9,548 |
| The Donaldson Group LLC Rockville, MD | Impact program payment for small business impact program that redi oversees. | $7,548 |
| Wani Designs LLC Rockville, MD | Impact program payment for small business impact program that redi oversees. | $7,500 |
| Nature by Trejok Rockville, MD | Impact program payment for small business impact program that redi oversees. | $7,500 |
Ready to take the next step with Rockville Economic Development Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $1,951,429 | $2,212,860 | $2,202,493 | $193,016 | 16 | $11,785 |
| 2024 | $1,882,929 | $1,994,068 | $2,212,207 | $397,680 | 11 | $8,473 |
| 2023 | $2,358,526 | $2,382,137 | $2,232,723 | $592,450 | 10 | $637 |
| 2022 | $1,644,147 | $2,488,151 | $2,026,342 | $575,639 | 5 | $71 |
| 2021 | $1,358,692 | $1,951,049 | $1,748,144 | $512,360 | 5 | $95 |
| 2020 | $980,214 | $1,614,016 | $1,488,101 | $331,000 | 4 | $524 |
| 2018 | $684,836 | $1,098,043 | $1,112,802 | $72,314 | 6 | $280 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
REDI’s mission is “to identify and develop economic opportunities to help Rockville prosper.” Its stated activities include recruiting, developing, and retaining businesses; administering incentives for new business locations and expansions; and operating the Maryland Women’s Business Center (MWBC). MWBC provides training, technical assistance, and resources for entrepreneurs seeking to start or grow women-owned enterprises, and has special initiatives in childcare business development and retail incubation.
REDI’s 2025 filing describes its payments as incentive-fund payments for new and expanding Rockville businesses and Small Business Impact Fund payments for small and medium-sized businesses. The filing says REDI monitors the programs and that a board-designated committee approves payments. Among 2025 recipients, Montgomery County Green Bank Corporation describes its mission as making energy efficiency and clean energy attainable and creating a more sustainable and resilient future. GapBuster Inc describes its work as promoting student achievement and closing performance gaps through enriched and supplemental learning.
Grantmaking
REDI reported 16 grants totaling $193,016 in filing year 2025. Grant amounts ranged from $5,220 to $40,000, with a median of $7,524. The filing describes these payments as support through REDI-overseen business incentive programs.
The largest reported payments included $40,000 to Podville Media, $25,520 to Montgomery County Green Bank Corporation, $15,440 to The Tot Space, $15,000 to Next Level Rentals & Realty, and $13,600 to The Center for Rheumatic Diseases. The filing lists the purpose for these payments as the Small Business Impact Program overseen by REDI.
REDI’s website describes the Small Business Impact Fund as supporting qualified existing small or medium-sized Rockville businesses with projects such as marketing, tenant improvements, signage or façade upgrades, and equipment purchases or upgrades. Applicants must identify a project to scale the business, describe its public contribution or substantial public benefits, and have operated for at least three years. The website also describes the Rockville MOVE Program for businesses relocating from outside the city or startups entering their first commercial space, and the Business Expansion Fund for existing city businesses expanding into additional space. For MOVE and Expansion applications, the website calls for an online application and supporting documentation, including company-structure documents and a signed lease or purchase agreement; eligible applications go to a review committee for a funding decision.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Nancy Regelin as chair, Bei Ma as vice chair, Todd Pearson as treasurer/secretary, and Susan Prince as immediate past chair. It also lists Nikhil Bijlani, Suzanne Osborn, Marji Graf, Richard Alvarez, Bridget Newton, and Angela Chaney as directors.
REDI’s website identifies Cindy Stewart Rivarde as chief executive officer.
Rockville Economic Development Inc is led by Cynthia Rivarde, Chief Executive Officer since 2021 (on filings since 2020); 2 of 24 officers listed in 2025 are compensated.
Officers on the 2025 filing
Cynthia Rivarde
Chief Executive Officer
Executive Director → Chief Executive Officer, 2021
On filings since 2020
40 hrs/week
$171K (2020) → $202K (2025)
Nancy Regelin
Chair
Director → Vice Chair, 2020
Vice Chair → Chair, 2025
On filings since 2018
4 hrs/week
No compensation reported
Carla Merritt
Director
Ex-Officio → Director, 2024
On filings since 2018
1 hr/week
No compensation reported
Marji Graf
Director
Ex-Officio → Director, 2024
On filings since 2018
1 hr/week
No compensation reported
Morgan Sullivan
Director
Vice Chair → Director, 2020
On filings since 2018
1 hr/week
No compensation reported
Richard Alvarez
Director
On filings since 2020
1 hr/week
No compensation reported
Suzanne Osborn
Director
On filings since 2020
1 hr/week
No compensation reported
Nikhil Bijlani
Director
On filings since 2021
1 hr/week
No compensation reported
Alton J. Henley
Director
On filings since 2023
1 hr/week
No compensation reported
Cliff Viers
Director
On filings since 2023
1 hr/week
No compensation reported
Justin Yang
Director
On filings since 2023
1 hr/week
No compensation reported
Lavonne Torrence Berner
Director
On filings since 2023
1 hr/week
No compensation reported
Bill Tompkins Ex-Officio
Director
On filings since 2024
1 hr/week
No compensation reported
Bridget Newton Unitl Nov
Director
On filings since 2024
1 hr/week
No compensation reported
Kelly Groff
Director
On filings since 2024
1 hr/week
No compensation reported
Nick Fullenkamp
Director
On filings since 2024
1 hr/week
No compensation reported
Cj Overly
Director
New on the 2025 filing
1 hr/week
No compensation reported
Muhammad Kehnemouyi
Director
New on the 2025 filing
1 hr/week
No compensation reported
Richelle Wilson
Deputy Director
On filings since 2023
40 hrs/week
$106K (2023) → $121K (2025)
Susan Prince
Immediate Past Chair
Vice Chair → Chair, 2020
Chair → Immediate Past Chair, 2025
On filings since 2018
1 hr/week
No compensation reported
Todd Pearson
Treasurer & Secretary
Director → Treasurer, 2022
Treasurer → Treasurer & Secretary, 2025
On filings since 2018
4 hrs/week
No compensation reported
Bei Ma
Vice Chair
Director → Vice Chair, 2023
On filings since 2020
1 hr/week
No compensation reported
Monique Ashton
Liaison
Director → Liaison, 2025
On filings since 2024
1 hr/week
No compensation reported
Jeff Mihelich
Liaison
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (25)
- Former: Angela Chaney (2020–2025) — Director · Filing note: Until 125
- Former: Michael Scott (2022–2025) — Director · Filing note: Until 924
- Former: Danette Nguyen (2024–2025) — Mwbc Managing Director · Filing note: Until 122024
- Former: Ben Anstrom (2022–2024) — Director
- Former: Barack Matite (2024) — Director · Filing note: Until 112023
- Former: Craig Simoneau (2024) — Director
- Former: Rob Dispirito (2024) — Director · Filing note: Until 92023
- Former: Becky Briggs (2018–2023) — Director · Filing note: Resigned
- Former: Bridget Donnell Newton (2018–2023) — Director
- Former: Dale Cyr (2018–2023) — Director · Filing note: Resigned
- Former: Dan Mallon (2021–2023) — Director
- Former: Ahmed R. Ali (2018–2022) — Director · Filing note: Resigned
- Former: Kimberly Kelley (2018–2022) — Director · Filing note: Resigned
- Former: Robert Dispirito (2018–2022) — Ex-Officio
- Former: Bill Tompkins (2020–2022) — Ex-Officio
- Former: Jennifer Hester (2020–2022) — Vice Chair · Filing note: Resigned
- Former: Jose Ochoa (2018–2021) — Director · Filing note: Resigned
- Former: Scot Browning (2018–2021) — Treasurer & Secretary · Filing note: Resigned
- Former: Craig J. Kwiecinski (2018–2020) — Director · Filing note: Resigned
- Former: Paul Newman (2018–2020) — Chair · Filing note: Resigned
- Former: Kiesha Haughton (2020) — Mwbc Managing Director · Filing note: Resigned
- Former: David Petr (2018) — Ex-Officio
- Former: Laurie Boyer (2018) — Executive Director -
- Former: Lisa Cines (2018) — Director
- Former: Sophie Lee (2018) — Director
Data from IRS Form 990 filings, 2018–2025. "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
The highest reported compensation on the 2025 filing was $202K, to Cynthia Rivarde (Chief Executive Officer). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Rockville Economic Development Inc
How much does Rockville Economic Development Inc give each year?
Rockville Economic Development Inc gave $193K across 16 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $398K across 11 grants.
What is Rockville Economic Development Inc's typical grant size?
Rockville Economic Development Inc's median grant in 2025 was $7,524, and its average grant was $12,064, across 16 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Rockville Economic Development Inc that year got $14K on average.
Where does Rockville Economic Development Inc give grants?
Rockville Economic Development Inc 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 Rockville, MD (16 grants).
Does Rockville Economic Development Inc give general operating support?
Not in 2025: none of the 16 grants with a stated purpose on Rockville Economic Development Inc's 2025 IRS Form 990 were described as general or operating support.
Who are Rockville Economic Development Inc's largest grantees?
Rockville Economic Development Inc's largest 2025 grantees include Podville Media ($40,000), Montgomery County Green Bank Corporation ($25,520) and The Tot Space ($15,440), according to its 2025 IRS Form 990. Together they received 42% of its itemized 2025 grant dollars.
How large is Rockville Economic Development Inc?
Rockville Economic Development Inc reported $2.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $2.2M.
What does Rockville Economic Development Inc fund?
REDI’s mission is “to identify and develop economic opportunities to help Rockville prosper.” Its stated activities include recruiting, developing, and retaining businesses; administering incentives for new business locations and expansions; and operating the Maryland Women’s Business Center (MWBC). See mission & focus areas ↑
How do I apply for a grant from Rockville Economic Development Inc?
The website directs applicants to complete the online application for the relevant program and submit the required supporting documentation. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Rockville Economic Development Inc's EIN?
Rockville Economic Development Inc's EIN (Employer Identification Number) is 52-2056731. IRS Form 990 filing data is available on this page for 2018–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2018 (received by the IRS March 13, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS February 2, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS March 27, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS March 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 8, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS January 29, 2025)
- Updated Form 990 for fiscal year 2025 (received by the IRS March 3, 2026)
- IRS filings on file for fiscal years 2018–2025
Explore Open Grants
Browse active grant opportunities in Rockville Economic Development Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Rockville Economic Development Inc funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/rockville-economic-development-inc-morg_55fa7b6bc3a64ffca771a58c3fd0a0b6
BibTeX
@misc{grantable_522056731_2026,
author = {{Grantable}},
title = {{Rockville Economic Development Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/rockville-economic-development-inc-morg_55fa7b6bc3a64ffca771a58c3fd0a0b6},
note = {Accessed 2026-10-15. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Rockville Economic Development Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Rockville Economic Development Inc down — hundreds of funders to go?