Cambridge Waterfront Development Inc
- Assets
- $8.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MD
- Founding
- 06/2019
- Data as of
- 06/2022
- EIN
- 83-2040316
Organization Overview
Cambridge Waterfront Development Inc is located in Cambridge, MD. The organization was established in 2019. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge Waterfront Development 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 06/2022, Cambridge Waterfront Development Inc generated $3.0m in total revenue. All expenses for the organization totaled $85.2k during the year ending 06/2022. While expenses have increased by 18.3% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FACILITATE THE REDEVELOPMENT OF THE CITY OF CAMBRIDGE WATERFRONT PROPERTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND FACILITATE THE REDEVELOPMENT OF CERTAIN PROPERTIES ALONG AND ADJACENT TO THE CITY OF CAMBRIDGE WATERFRONT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard M Zeidman President | OfficerTrustee | 4 | $0 |
Frank Narr Jr Secretary/treasurer | OfficerTrustee | 1 | $0 |
Daryl Butcher Vice President | OfficerTrustee | 1 | $0 |
Matthew Leonardkirk Avenue Llc Executive Director | Officer | 40 | $0 |
Jeff Powell Director | Trustee | 1 | $0 |
Donna Lane Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Network Realty Partners Project Management | 6/29/22 | $243,594 |
Bct Design Group Architect Services | 6/29/22 | $228,103 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,001,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,001,012 |
| Total Program Service Revenue | $0 |
| Investment income | $161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$38,679 |
| 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 | $2,962,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,382 |
| Fees for services: Accounting | $7,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,467 |
| Advertising and promotion | $2,570 |
| Office expenses | $1,739 |
| Information technology | $7,237 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,796 |
| All other expenses | $0 |
| Total functional expenses | $85,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,584 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,207,453 |
| 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 | $78,707 |
| Net Land, buildings, and equipment | $2,081,493 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,227,182 |
| Total assets | $8,725,419 |
| Accounts payable and accrued expenses | $722,591 |
| Grants payable | $0 |
| Deferred revenue | $4,634,542 |
| 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 | $250,000 |
| Total liabilities | $5,607,133 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $3,118,286 |
| Total liabilities and net assets/fund balances | $8,725,419 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Allegheny Conference On Community Development Pittsburgh, PA | $14,597,444 | $7,655,898 |
Maryland Rural Development Corporation Annapolis, MD | $2,490,801 | $9,297,615 |
Religious Coalition For Emergency Human Needs In Frederick County Frederick, MD | $4,940,518 | $9,853,659 |
Stand For America Inc Washington, DC | $2,847,990 | $8,607,198 |
National Association Of Professional Employer Organization Alexandria, VA | $9,490,281 | $8,665,299 |
Virginia Beach Community Development Corporation Virginia Beach, VA | $35,346,329 | $7,614,457 |
Clinch Valley Community Action Inc North Tazewell, VA | $3,516,619 | $7,158,606 |
New River Community Action Inc Radford, VA | $2,771,237 | $7,058,582 |
National Main Street Center Inc Washington, DC | $6,729,426 | $9,101,387 |
Warren And Forest Counties Economic Opportunity Council Warren, PA | $10,674,151 | $7,590,481 |
American Short Line And Regional Railroad Association Washington, DC | $3,896,919 | $7,970,506 |
Golden Triangle Bid Corporation Washington, DC | $12,314,555 | $6,461,627 |