Cumberland Economic Development Corporation
EIN: 474730548 · Cumberland, MD · NTEE: S30
Is Cumberland Economic Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cumberland Economic Development Corporation
Cumberland Economic Development Corporation (EIN: 474730548) is a nonprofit organization based in Cumberland, MD, classified under NTEE code S30. The organization reported total revenue of $595K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cumberland Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Cumberland Economic Development Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cumberland Economic Development Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about Cumberland Economic Development Corporation
Is Cumberland Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Cumberland Economic Development Corporation (EIN: 474730548) insufficient data. 0 red flags identified, 0 strengths noted.
How does Cumberland Economic Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Cumberland Economic Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Cumberland Economic Development Corporation tax-deductible?
Cumberland Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 474730548). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Cumberland Economic Development Corporation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2016–2024), Cumberland Economic Development Corporation's revenue has declined by 32.3%, moving from $2.5M to $1.7M. Total assets increased by 2570.2% over the same period, from $59K to $1.6M. Total functional expenses fell by 24.2%, from $2.4M to $1.8M. In its most recent filing year (2024), Cumberland Economic Development Corporation reported a deficit of $163K, with expenses exceeding revenue. The organization holds $102K in liabilities against $1.6M in assets (debt-to-asset ratio: 6.5%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $1.7M | $1.8M | $1.6M | $102K | — | View 990 |
| 2023 | $2.9M | $489K | $1.8M | $144K | — | View 990 |
| 2022 | $653K | $379K | $866K | $2K | — | View 990 |
| 2021 | $411K | $347K | $592K | $3K | — | — |
| 2020 | $396K | $462K | $530K | $3K | — | View 990 |
| 2019 | $898K | $364K | $1.1M | $534K | — | View 990 |
| 2018 | $629K | $724K | $61K | $3K | — | View 990 |
| 2017 | $1.7M | $1.6M | $169K | $16K | — | View 990 |
| 2016 | $2.5M | $2.4M | $59K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.7M, expenses of $1.8M, and assets of $1.6M (revenue -41.9% year-over-year).
- 2023: Revenue of $2.9M, expenses of $489K, and assets of $1.8M (revenue +339.5% year-over-year).
- 2022: Revenue of $653K, expenses of $379K, and assets of $866K (revenue +59.1% year-over-year).
- 2021: Revenue of $411K, expenses of $347K, and assets of $592K (revenue +3.6% year-over-year).
- 2020: Revenue of $396K, expenses of $462K, and assets of $530K (revenue -55.8% year-over-year).
- 2019: Revenue of $898K, expenses of $364K, and assets of $1.1M (revenue +42.8% year-over-year).
- 2018: Revenue of $629K, expenses of $724K, and assets of $61K (revenue -64.1% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.6M, and assets of $169K (revenue -29.1% year-over-year).
- 2016: Revenue of $2.5M, expenses of $2.4M, and assets of $59K.
Data Sources and Methodology
This transparency report for Cumberland Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.