Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
89 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
15 people listed on the 990; $99K paid to officers and key staff.
Zachary Bankert’s $99K as Executive Director is at the 87th percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Glenn Irwin | — | — | $111,145 | $100,031 | $108,966 |
| Zachary Bankert | $98,854 | $76,500 | $30,000 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Revitalizes downtown Ocean City, Maryland, through long-range development strategies.
Questions for Ocean City Development Corporation
Your first name shows with your question. Ocean City Development Corporation answers here, for everyone.
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Facade Improvement Program
The ocdc implements commercial and residential facade improvement programs to provide financial incentives to downtown property owners and businesses to renovate the exteriors of their older buildings. During the past fiscal year, numerous buildings were renovated using this program.
Public Art Program
This program adds interest to the downtown area and will increasepedestrian traffic, as the area becomes better known for its public art offerings.
Green Building Initiatives Program
Commercial program provides financial assistance tobusinesses to install new long-term energy-efficient products. The program is funded by grantsfrom the maryland department of housing and community development.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $628K | $632K |
| Land, buildings, equipmentLn 10c | $4.4M | $4.4M |
| Total assetsLn 16 | $5.2M | $5.2M |
| LiabilitiesLn 26 | $1.6M | $1.6M |
| Net assetsLn 32 | $3.6M | $3.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $12K | $12K | ||
| Other salaries and wagesLn 7 | $181K | $136K | $45K | |
| Other employee benefitsLn 9 | $5K | $4K | $1K | |
| Payroll taxesLn 10 | $15K | $11K | $4K | |
| Legal feesLn 11b | $9K | $7K | $2K | |
| Accounting feesLn 11c | $7K | $6K | $2K | |
| Other fees for servicesLn 11g | $4K | $3K | $1K | |
| Advertising and promotionLn 12 | $8K | $8K | ||
| Office expensesLn 13 | $11K | $8K | $3K | |
| OccupancyLn 16 | $11K | $9K | $3K | |
| TravelLn 17 | $4K | $4K | ||
| Conferences, conventions and meetingsLn 19 | $9K | $6K | $2K | |
| InterestLn 20 | $21K | $21K | ||
| Depreciation, depletion and amortizationLn 22 | $14K | $14K | ||
| InsuranceLn 23 | $9K | $7K | $2K | |
| Other expenses (24a–d)Ln 24 | $538K | $522K | $16K | |
| All other expensesLn 24e | $3K | $3K | $76 | |
| Total functional expensesLn 25 | $861K | $767K | $94K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $907K | $861K | $46K | $3.7M | 990 PDF |
| FY2024 | $1.4M | $534K | $902K | $3.6M | 990 PDF |
| FY2023 | $623K | $592K | $31K | $2.7M | 990 PDF |
| FY2022 | $649K | $553K | $97K | $2.7M | 990 PDF |
| FY2021 | $736K | $659K | $77K | $2.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $907,152 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, 1 to look at
Part VIII · Statement of revenue $907,152 across 8 lines filed
Part IX · Statement of functional expenses $861,137 across 17 lines filed
Part X · Balance sheet $5,240,457 assets, 16 lines filed
Part XI · Reconciliation of net assets $3,673,362 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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