Cash Campaign Of Maryland Inc
- Assets
- $2.7m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 54
- Location
- Baltimore, MD
- Founding
- 08/2017
- Data as of
- 06/2023
- EIN
- 81-4607977
Organization Overview
Cash Campaign Of Maryland Inc is located in Baltimore, MD. The organization was established in 2017. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 06/2023, Cash Campaign Of Maryland Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cash Campaign Of Maryland Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Cash Campaign Of Maryland Inc generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $5.3m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Cash Campaign Of Maryland Inc has awarded 74 individual grants totaling $1,559,847. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CASH CAMPAIGN OF MARYLAND PROMOTES ECONOMIC ADVANCEMENT FOR LOW-TO-MODERATE INCOME INDIVIDUALS AND FAMILIES IN BALTIMORE AND ACROSS MARYLAND. CASH ACCOMPLISHES ITS MISSION THROUGH OPERATING A PORTFOLIO OF DIRECT SERVICE PROGRAMS, BUILDING ORGANIZATIONAL AND FIELD CAPACITY, AND LEADING POLICY AND ADVOCACY INITIATIVES TO STRENGTHEN FAMILY ECONOMIC STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL CAPABILITY SERVICES INCLUDING FREE TAX PREPARATION, FINANCIAL EDUCATION, FINANCIAL COACHING, AND SCREENING FOR PUBLIC BENEFITS. FREE TAX PREPARATION IS OFFERED THROUGH THE IRS VOLUNTEER INCOME TAX PREPARATION ASSISTANCE PROGRAM. IN 2023, CASH GAINED 45 NEW FINANCIAL COACHING CLIENTS AND HELPED 67% OF THEM INCREASE THEIR CREDIT SCORES BY AN AVERAGE OF 37 POINTS AND DECREASE CONSUMER DEBT BY $190,000. CASH OFFERED 195 FINANCIAL EDUCATION CLASSES TO 4,534 INDIVIDUALS, AND 2,000 PEOPLE WERE IMPACTED VIA OUTREACH EVENTS. CASH SCREENED 379 HOUSEHOLDS FOR BENEFITS AND ENROLLED 172 FAMILIES RESULTING IN $200,366 OF ASSISTANCE. ADDITIONALLY, 407 PRACTITIONERS WERE TRAINED THROUGH 34 EVENTS. RETURNING $25.8 MILLION TO RESIDENTS, CASH PREPARED 16,737 TAXES, WHICH ALSO SAVED RESIDENTS $5.1 MILLION TOTAL. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT 460 VOLUNTEERS WHO DONATED THEIR TIME ACROSS 26 SITES IN MARYLAND.
THE BALTIMORE YOUNG FAMILIES SUCCESS FUND (BYFSF) IS A GUARANTEED INCOME PILOT PROJECT LAUNCHED BY MAYOR BRANDON M. SCOTT TO PROVIDE 200 YOUNG PARENTS, BETWEEN 18-24 YEARS OLD, WITH AN UNCONDITIONAL CASH PAYMENT OF $1,000 PER MONTH OVER THE COURSE OF 24 MONTHS. THE FIRST PAYMENT WENT OUT IN AUGUST 2022 AND THE FINAL PAYMENT WILL BE IN JULY 2024.
PRACTITIONER TRAINING AND CAPACITY BUILDING INCLUDES VOLUNTEER AND PARTNER TRAINING, FEE FOR SERVICE CUSTOMIZED TRAINING, AND TECHNICAL ASSISTANCE. IN 2023, CASH TRAINED 2,013 PRACTITIONERS WITH FINANCIAL CONTENT AND PROVIDED 109 CUSTOMIZED TRAINING/CONFERENCE SESSIONS.
POLICY RESEARCH AND ADVOCACY FOCUSES ON POLICIES THAT HELP OR HINDER THE FINANCIAL SECURITY OF LOW-TO-MODERATE INCOME MARYLANDERS. IN 2023, CASH TRACKED 151 BILLS AND SUPPORTED 69 THROUGH WRITTEN AND ORAL TESTIMONY. OF THESE, 32 BILLS WERE SUCCESSFULLY PASSED INCLUDING THE FAMILY PROSPERITY ACT OF 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanna Smith-Ramani Director | Trustee | 1 | $0 |
Laura Taylor Director | Trustee | 1 | $0 |
Martin Dukler Director | Trustee | 1 | $0 |
Mary Jean Herron Chair | Trustee | 1 | $0 |
Meg Woodside Director | Trustee | 1 | $0 |
Melanie Styles Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,319,170 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,089,189 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,408,359 |
| Total Program Service Revenue | $190,440 |
| Investment income | $33,299 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,635,229 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $549,983 |
| Grants and other assistance to domestic individuals. | $2,200,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $247,713 |
| Compensation of current officers, directors, key employees. | $47,066 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,331,225 |
| Pension plan accruals and contributions | $37,011 |
| Other employee benefits | $163,373 |
| Payroll taxes | $116,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,739 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,355 |
| Advertising and promotion | $122,566 |
| Office expenses | $93,614 |
| Information technology | $93,501 |
| Royalties | $0 |
| Occupancy | $72,251 |
| Travel | $20,414 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,363 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,649 |
| Insurance | $18,733 |
| All other expenses | $0 |
| Total functional expenses | $5,293,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,338,222 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $746,121 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $219,028 |
| Net Land, buildings, and equipment | $53,419 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $388,085 |
| Total assets | $2,744,875 |
| Accounts payable and accrued expenses | $170,537 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $384,842 |
| Total liabilities | $555,379 |
| Net assets without donor restrictions | $866,267 |
| Net assets with donor restrictions | $1,323,229 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,744,875 |
Grants Awarded
Over the last fiscal year, Cash Campaign Of Maryland Inc has awarded $522,435 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGANY COUNTY HUMAN RESOURCE DEVELOPMENT COMMISSION INC PURPOSE: PROVIDE FREE TAX PREP FOR LOW-INCOME TAXPAYERS. | $25,714 |
CAPITAL AREA FOOD BANK PURPOSE: CLIENT ENGAGEMENT FOR EITC/CTC ADVOCACY. | $10,000 |
CASA DE MARYLAND PURPOSE: PROVIDE TAX PREP FOR LOW INCOME TAXPAYERS AND ADVOCACY. | $33,000 |
BALTIMORE INFANTS AND TODDLERS PROGRAM PURPOSE: SUPPORT PREGNANT/ POSTPARTUM WOMEN THROUGH CARE COORDINATION AND LINKAGES TO COMMUNITY SUPPORTS | $38,115 |
CENTER FOR URBAN FAMILIES INC PURPOSE: PROVIDE TAX PREP FOR LOW INCOME TAXPAYERS | $10,000 |
COMMUNITY TAX AID PURPOSE: PROVIDE FREE TAX PREP FOR LOW-INCOME TAXPAYERS. | $8,000 |