Cumberland-Allegany County Industrial Foundation Incorporated
- Assets
- $120.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cumberland, MD
- Founding
- 03/1965
- Data as of
- 06/2022
- EIN
- 52-0816138
Organization Overview
Cumberland-Allegany County Industrial Foundation Incorporated is located in Cumberland, MD. The organization was established in 1965. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland-Allegany County Industrial Foundation Incorporated is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Cumberland-Allegany County Industrial Foundation Incorporated generated $54.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $56.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO AID LOCAL COMMERCE AND INDUSTRY GROWTH AND EXPANSION AND TO FOSTER CREATION OF NEW INDUSTRY COMING INTO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Mckenzie President | 2 | $0 | |
Stacey Bingaman Vice Preside | 1 | $0 | |
David Turnbull CPA Treasurer | 1 | $0 | |
Renee Bone Director | 1 | $0 | |
John Emerick Secretary | 1 | $0 | |
Dr Sudhir Singh Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,170 |
| Total Program Service Revenue | $35,445 |
| Membership dues | $3,725 |
| Investment income | $533 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $54,873 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $5,940 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $84 |
| Other expenses | $49,938 |
| Total expenses | $55,962 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $120,049 |
| Other assets | $0 |
| Total assets | $120,049 |
| Total liabilities | $0 |
| Net assets or fund balances | $120,049 |
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