The Manayunk Development Corporation (MDC) is a non-profit community development corporation formed to encourage economic development that benefits the entire community. Incorporated in 1985 and first staffed in 1988, MDC was originally known as the New Manayunk Corporation. The New Manayunk Corporation took responsibility for parking, the Canal and capital projects within the district. A separate entity, the Business Association of Manayunk (BAM), worked to promote the district by creating a number of festivals including the Main Street Stroll, the Manayunk Arts Festival, and the Indian Summer Festival. In 1992, BAM and the New Manayunk Corporation were merged to form MDC. Under MDC, the functions of the original two groups have continued and grown.