Overview
What is Cumberland Economic Development Cor?
Cumberland Economic Development Corporation (CEDC) is a nonprofit organization situated in Cumberland, Maryland, specifically at 118 Baltimore Street Suite 202. Their primary mission is to support economic and community development in Allegany County, with an initial focus on Cumberland city. This involves engaging in charitable and educational activities, with a specific aim to revitalize the city's urban core. The Baltimore Street Access Project, led by CEDC and the City of Cumberland, strives to enhance the city's intermodal transportation system, improve connectivity, install fiber optic cable, promote residential and commercial redevelopment, and replace outdated underground infrastructure. The project is part of a broader revitalization effort for Cumberland's urban core.
Official website here: www.choosecumberland.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
Cumberland Economic Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 92% in the Accountability & Finance category, the organization demonstrates strong governance practices, including a fully independent board and effective financial oversight measures.
The organization excels in maintaining transparency, as evidenced by its comprehensive financial statements and the absence of any material diversion of assets. Its program expense ratio of 74.45% suggests that a significant portion of its resources is dedicated to its mission-focused programs, which is a positive indicator of its operational effectiveness.
However, there is a noted limitation in the form of a missing whistleblower policy, which could affect organizational integrity and employee safety. Despite this, the overall strong performance across other metrics emphasizes Cumberland Economic Development Corporation's commitment to responsible management and ethical practices.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Cumberland Economic Development Cor?
84% of 13 reviewers on Facebook recommend Cumberland Economic Development Corporation. Here is a summary of their reviews:
Many individuals express appreciation for the dedicated efforts of the organization to improve their community. Reviewers highlight the active involvement of staff who not only listen to constructive feedback but also take actionable steps towards enhancing the area. The sentiment reflects a strong belief in the nonprofit's commitment to fostering positive change through hard work and perseverance.
Comments emphasize the importance of having a group willing to tackle challenging projects, showcasing their proactive approach to community development. Overall, supporters feel encouraged by the organization's initiative and are optimistic about its impact on making the town a better place for residents.
This AI summary has been generated from reviews found on Facebook.
Is Cumberland Economic Development Cor legitimate?
Cumberland Economic Development Cor is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cumberland Economic Development Cor submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $227,996
For more financial information, click here
Official website here: www.choosecumberland.org
What is the mission statement of Cumberland Economic Development Cor?
The Cumberland Economic Development Corporation (CEDC) is committed to engaging in charitable and educational initiatives, with a primary focus on supporting economic and community development. Initially, their efforts are centered around Allegany County, Maryland, specifically the city of Cumberland. Their mission involves revitalizing the urban core, enhancing connectivity through initiatives like reintroducing automobile and bicycle traffic on Baltimore Street, installing fiber optic cable, promoting residential and commercial redevelopment, and replacing outdated underground infrastructure. These actions aim to improve the overall economic and community development of the city.
Official website here: www.choosecumberland.org
What is the revenue of Cumberland Economic Development Cor?
Cumberland Economic Development Cor's revenue in 2024 was $1,669,654.
Official website here: www.choosecumberland.org
Who are the executives of Cumberland Economic Development Cor and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $98,118
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- Other: $24,314
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Official website here: www.choosecumberland.org
Where can I find the form 990 for Cumberland Economic Development Cor?
Cumberland Economic Development Cor's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.choosecumberland.org
Learn more at the official website: www.choosecumberland.org
Mission Statement of Cumberland Economic Development Cor
Cumberland Economic Development Corporation (CEDC) is an organization dedicated to engaging in charitable and educational endeavors, with a specific focus on supporting economic development and community development in Allegany County, Maryland. Initially, their efforts are concentrated on the city of Cumberland. Their mission is threefold: firstly, they aim to rejuvenate the urban core of the city by improving connectivity of the intermodal transportation system, introducing fiber optic cable, promoting residential and commercial redevelopment, and replacing underdeveloped infrastructure. Secondly, they are involved in a broader economic and community development revitalization effort for Cumberland's urban core. Lastly, CEDC works to contribute to the overall development of Allegany County, with an initial focus on Cumberland. Their activities are geared towards enhancing the economic and community growth of the area, ultimately aiming to improve the lives of its residents.
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Impact
July, 2024
Cumberland Economic Development Cor's impact is primarily focused on supporting economic development and community development in Allegany County, Maryland, with a specific initial focus on the city of Cumberland. One key project they are involved in is the Baltimore Street Access Project, which aims to revitalize the city's urban core. This project includes reintroducing automobile and bicycle traffic on Baltimore Street, introducing fiber optic cable along the street to complete the downtown fiber loop, installing sprinkler infrastructure in buildings to promote redevelopment, and replacing outdated underground infrastructure. Overall, this organization's efforts contribute to a broader economic and community development revitalization initiative for Cumberland's urban core.
This information is meant to be a general summary of Cumberland Economic Development Cor. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $89,317
- Gross Receipts: $1,669,654
Assets and Liabilities:
- Total Assets: $1,770,451
- Total Liabilities: $144,137
- Net Assets: $1,626,314
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Organization Details
Founding Year
2015
Principal Officer
Matthew Miller
Website
www.choosecumberland.orgNTEE Category
Code: S30 - Community improvement
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