CUMBERLAND ECONOMIC DEVELOPMENT COR

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2015

Legal Domicile

Principal Officer

MATTHEW MILLER

Phone

3017224173

Tax Period

2024-07-01 to 2025-06-30

CUMBERLAND ECONOMIC DEVELOPMENT COR, founded in 2015, is a small nonprofit in the Community Improvement sector that reported $595K in total revenue in fiscal year 2024. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $848K exceeded revenue, resulting in a 43% operating deficit.

Mission

TO ENGAGE IN CHARITABLE AND EDUCATIONAL EFFORTS, AND SPECIFICALLY TO SUPPORT ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT IN ALLEGANY COUNTY, MARYLAND, WITH AN INITIAL FOCUS ON THE CITY OF CUMBERLAND.

Program Service Accomplishments

Program 1

Expenses: $728,529

BALTIMORE STREET ACCESS PROJECT: THE PROJECT IS A CEDC AND CITY OF CUMBERLAND EFFORT TO REVITALIZE THE CITY'S URBAN CORE, AMONG OTHER THINGS, RE-INTRODUCING AUTOMOBILE AND BICYCLE TRAFFIC ONTO...

BALTIMORE STREET ACCESS PROJECT: THE PROJECT IS A CEDC AND CITY OF CUMBERLAND EFFORT TO REVITALIZE THE CITY'S URBAN CORE, AMONG OTHER THINGS, RE-INTRODUCING AUTOMOBILE AND BICYCLE TRAFFIC ONTO BALTIMORE STREET IN CUMBERLAND, MD, THEREBY IMPROVING CONNECTIVITY OF THE INTERMODAL TRANSPORTATION SYSTEM; INTRODUCING FIBER OPTIC CABLE ALONG BALTIMORE STREET, THEREBY COMPLETING THE DOWNTOWN FIBER LOOP; INSTALLING SPRINKLER INFRASTRUCTURE TO BUILDINGS ALONG BALTIMORE STREET, THEREBY PROMOTING RESIDENTIAL AND COMMERICAL REDEVELOPMENT; AND REPLACEMENT OF UNDERGROUND INFRASTRUCTURE THAT HAS NOT BEEN MATERIALLY IMPROVED SINCE BEFORE THE INSTALLATION OF THE PEDESTRIAN MALL. THIS PROJECT IS ALSO BEING UNDERTAKEN AS PART OF A MUCH BROADER ECONOMIC AND COMMUNITY DEVELOPMENT REVITALIZATION EFFORT FOR THE CITY OF CUMBERLAND'S URBAN CORE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $572,752

Program Service Revenue $0

Investment Income $19,935

Other Revenue $2,049

TOTAL REVENUE $594,736

Expense Breakdown

Grants Paid $0

Salaries & Benefits $304,098

Fundraising Expenses $0

Program Expenses $728,529

Other Expenses $543,997

TOTAL EXPENSES $848,095

Year-over-Year Comparison

	2024	2023	Change
Revenue	$594,736	$1,669,654	-0.6%
Expenses	$848,095	$1,832,302	-0.5%
Net Income	$-253,359	$-162,648	+0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$126,949

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW MILLER	EXECUTIVE DI	40.00	Officer	$101,521	$25,428	$126,949
DUSTIN FREAS	DIRECTOR	2.00	Director	$0	$0	$0
KATHY GETTY	TREASURER	2.00	Officer Director	$0	$0	$0
JONATHAN HUTCHERSON	CHAIRMAN	2.00	Officer Director	$0	$0	$0
DAVID R JONES	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN KURTZ	DIRECTOR	2.00	Director	$0	$0	$0
MICHELE MARTZ	DIRECTOR	2.00	Director	$0	$0	$0
RAY MORRISS	DIRECTOR	2.00	Director	$0	$0	$0
NATHAN PRICE	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY SILKA	DIRECTOR	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$594,736	$848,095	$1,267,147	$-253,359
2024	$1,669,654	$1,832,302	$1,565,268	$-162,648
2023	$2,871,616	$489,227	$1,770,451	$2,382,389
2022	$653,368	$378,868	$866,424	$274,500
2021	$410,563	$347,264	$591,981	$63,299
2020	$396,393	$462,050	$529,546	$-65,657
2019	$897,728	$363,897	$1,125,835	$533,831