§ 5–1201
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 5-1201 (2026)
Title 5. Economic Development and Financial Assistance Programs
Subtitle 12. Maryland Nonprofit Development Center Program
§ 5–1201LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
“Fund” means the Maryland Nonprofit Development Center Program Fund established under § 5–1204 of this subtitle.
(c)
“Nonprofit entity” means a corporation incorporated in the State, or otherwise qualified to do business in the State, that has been determined by the Internal Revenue Service to be exempt from taxation under § 501(c)(3), (4), or (6) of the Internal Revenue Code.
(d)
“Program” means the Maryland Nonprofit Development Center Program established under § 5–1202 of this subtitle.
(e)
“Qualifying nonprofit entity” means a nonprofit entity:
(1)
that has annual revenues not greater than $750,000;
(2)
that has been in existence for not more than 10 years; and
(3)
whose principal purpose is providing health, education, environmental, agricultural, or social services through community–based programs.