Civic Intelligence

Cambridge Waterfront Development Inc.

990 • Fiscal year 2022 • EIN 83-2040316

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 29, 2023

Organization ProfileN/A
306 High Street PO Box 1144Cambridge, MD 21613

(434) 579-0374

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.64x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

1.89x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

98th percentile

97%

Higher net margin than 98% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

100th percentile

11359%

Faster asset growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

100th percentile

4834%

Faster revenue growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$8,725,419

Up $8,649,275 (+11359%) from 2021

Net Assets

Up

$3,118,286

Up $3,042,142 (+3995%) from 2021

Liabilities

Up

$5,607,133

Up $5,607,133 from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin98th percentile

Revenue

Up

$2,962,494

Up $2,902,454 (+4834%) from 2021

Expenses

Down

$85,237

Down $66,428 (-44%) from 2021

Net Income

Up

$2,877,257

Up $2,968,882 (+3240%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2019: $200,563Liabilities 2019: $0Net Assets 2019: $200,5632019Assets 2021: $76,144Liabilities 2021: $0Net Assets 2021: $76,1442021Assets 2022: $8,725,419Liabilities 2022: $5,607,133Net Assets 2022: $3,118,2862022Assets 2023: $8,503,739Liabilities 2023: $1,312,802Net Assets 2023: $7,190,9372023Assets 2024: $9,910,637Liabilities 2024: $1,449,388Net Assets 2024: $8,461,2492024

Highlighted filing

2022

Assets$8,725,419
Liabilities$5,607,133
Net Assets$3,118,286
Open 2022 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $251,986Expenses 2019: $51,423Net Income 2019: $200,5632019Revenue 2021: $60,040Expenses 2021: $151,665Net Income 2021: -$91,6252021Revenue 2022: $2,962,494Expenses 2022: $85,237Net Income 2022: $2,877,2572022Revenue 2023: $4,354,575Expenses 2023: $281,924Net Income 2023: $4,072,6512023Revenue 2024: $1,486,679Expenses 2024: $543,345Net Income 2024: $943,3342024

Highlighted filing

2022

Revenue$2,962,494
Expenses$85,237
Net Income$2,877,257
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 29, 2023
Return Version
2021v4.2
Gross Receipts
$3,011,238
Mission and Program Overview

Mission

To promote and facilitate the redevelopment of certain properties along and adjacent to the city of cambridge waterfront.

To promote and facilitate the redevelopment of the city of cambridge waterfront properties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$5,207,453-
Rtn Earn Endowment Incm Other Fnds$76,144$3,118,286▲ $3,042,142
Land, Buildings, and Equipment, Net$0$2,081,493▲ $2,081,493
Cash and Non-Interest-Bearing Accounts$76,144$130,584▲ $54,440
Prepaid Expenses and Deferred Charges-$78,707-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$76,144$8,725,419▲ $8,649,275
Other Assets Total$0$1,227,182▲ $1,227,182
Liabilities
Deferred Revenue-$4,634,542-
Accounts Payable and Accrued Expenses-$722,591-
Other Liabilities$0$250,000▲ $250,000
Total Liabilities$0$5,607,133▲ $5,607,133
Net Assets / Fund Balance
Total Net Assets Fund Balance$76,144$3,118,286▲ $3,042,142
Total Liabilities and Net Assets / Fund Balance$76,144$8,725,419▲ $8,649,275

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,081,493--
Other Assets Org$2,986--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Richard M ZeidmanPresident
Daryl ButcherVice President
Donna LaneDirector
Jeff PowellDirector
Michael J FrenzDirector
Tom CarrollDirector
Matthew Leonardkirk Avenue LLCExecutive Director
Frank Narr JrSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Network Realty PartnersProject Management4201 WILSON BOULEVARD SUITE 260, Arlington, VA 22203$243,594
Bct Design GroupArchitect Services100 N CHARLES ST 18TH FL, Baltimore, MD 21201$228,103
Revenue and Support

Revenue Composition

Contributions and Grants
$3,001,012
Program Service Revenue
$0
Investment Income
$161
Other Revenue
$-38,679
Change in Net Assets
$2,877,257
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$52,467--$52,467
Fees for Services Legal$8,382--$8,382
Fees for Services Accounting$7,921--$7,921
Information Technology-$7,237-$7,237
Insurance$3,796--$3,796
Advertising-$2,570-$2,570
Office Expenses-$1,739-$1,739
Conferences and Meetings-$380-$380
Other Expenses-$100-$100
Total Functional Expenses$72,566$12,671$0$85,237
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Umd Srh$250,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Cambridge waterfront development, inc. Has an independent contract agreement with kirk avenue, llc for executive director services. The contract began january 1, 2022.”

Form 990, Part VI, Section A, Line 4

“On june 23, 2022, cwdi amended its by-laws to change ex officio board seats to fully appointed board seats. We filed these changes with the state along with updating our articles of incorporation to include these chagnes.”

Form 990, Part VI, Section B, Line 11B

“The board of directors reviews form 990 before filing”

Form 990, Part VI, Section B, Line 12C

“Cambridge waterfront development, inc. Generates a form that indicates compliance with the city, county and state authorities. Each board member is required to sign this form annually.”

Form 990, Part VI, Section B, Line 15A

“The executive committee reviewed and made a decision that resulted in an extension of the contract with kirk ave, llc for executive director services. The contract first began 1/1/22.”

Form 990, Part VI, Section C, Line 19

“All governing documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Cambridge Waterfront Development Inc
EIN
83-2040316
Phone
4345790374
Address
306 HIGH STREET PO BOX 1144, CAMBRIDGE, MD 21613

Signing Officer

Name
Matthew Leonard
Title
Executive Director
Phone
4345790374
Signed
2023-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Leonard
Formed
2018
Legal Domicile
Md
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Uhy Advisors Mid-atlantic Md Inc
Address
955 MT HERMON ROAD, SALISBURY, MD 21804
Preparer
Roy J Geiser
Phone
4107421328
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Administrative fees: program service expenses 7,467. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,467. Executive director services: program service expenses 45,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 45,000.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/LandGrp/BookValueAmt02081493
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt02081493
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01224196
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12986
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0250000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO UMD SRH
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02081493
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01227182
IRS990ScheduleD/TotalLiabilityAmt0250000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CAMBRIDGE WATERFRONT DEVELOPMENT, INC. HAS AN INDEPENDENT CONTRACT AGREEMENT WITH KIRK AVENUE, LLC FOR EXECUTIVE DIRECTOR SERVICES. THE CONTRACT BEGAN JANUARY 1, 2022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ON JUNE 23, 2022, CWDI AMENDED ITS BY-LAWS TO CHANGE EX OFFICIO BOARD SEATS TO FULLY APPOINTED BOARD SEATS. WE FILED THESE CHANGES WITH THE STATE ALONG WITH UPDATING OUR ARTICLES OF INCORPORATION TO INCLUDE THESE CHAGNES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS FORM 990 BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CAMBRIDGE WATERFRONT DEVELOPMENT, INC. GENERATES A FORM THAT INDICATES COMPLIANCE WITH THE CITY, COUNTY AND STATE AUTHORITIES. EACH BOARD MEMBER IS REQUIRED TO SIGN THIS FORM ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE COMMITTEE REVIEWED AND MADE A DECISION THAT RESULTED IN AN EXTENSION OF THE CONTRACT WITH KIRK AVE, LLC FOR EXECUTIVE DIRECTOR SERVICES. THE CONTRACT FIRST BEGAN 1/1/22.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ADMINISTRATIVE FEES: PROGRAM SERVICE EXPENSES 7,467. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,467. EXECUTIVE DIRECTOR SERVICES: PROGRAM SERVICE EXPENSES 45,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 45,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0CAMBRIDGE WATERFRONT DEVELOPMENT INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0CWDI HOLDINGS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0874219928
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0REAL ESTATE HOLDING COMPANY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0PO BOX 1144
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0CAMBRIDGE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd021613
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt076144
IRS990/TotalAssetsEOYAmt08725419
IRS990/TotalAssetsGrp/BOYAmt076144
IRS990/TotalAssetsGrp/EOYAmt08725419
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03001012
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012671
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt072566
IRS990/TotalFunctionalExpensesGrp/TotalAmt085237
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt05607133
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt05607133
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt076144
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03118286
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt072566
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-38518
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02962494
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08725419
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0CAMBRIDGE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021613
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW LEONARD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04345790374
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CAMBRIDGE WATERFRONT DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0CAMB
ReturnHeader/Filer/EIN0832040316
ReturnHeader/Filer/PhoneNum04345790374
ReturnHeader/Filer/USAddress/AddressLine1Txt0306 HIGH STREET PO BOX 1144
ReturnHeader/Filer/USAddress/CityNm0CAMBRIDGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021613
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0260794367
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0UHY ADVISORS MID-ATLANTIC MD INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0955 MT HERMON ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SALISBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021804
ReturnHeader/PreparerPersonGrp/PhoneNum04107421328
ReturnHeader/PreparerPersonGrp/PreparationDt02023-01-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROY J GEISER
ReturnHeader/ReturnTs02023-02-07T16:55:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MATTHEW
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LEONARD
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,725,419
Liabilities
$5,607,133
Net assets
$3,118,286
Revenue
$2,962,494
Expenses
$85,237
Net income
$2,877,257
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.91$1.45$8.46$1.49$0.54$0.94
2023Detailed filing. Detailed filing data is available for this year.$8.50$1.31$7.19$4.35$0.28$4.07
2022Detailed filing. Detailed filing data is available for this year.$8.73$5.61$3.12$2.96$0.09$2.88
2021Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.06$0.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.25$0.05$0.20