Cambridge Waterfront Development Inc

Nonprofit profile at a glance

EIN
832040316
IRS 990 coverage
2019–2025
Forms available
Form 990 2025, Form 990-N 2018
Location
Cambridge, MD, USA
Phone
4104630428
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$2,830,412
Expenses
$231,798
Assets
$11,956,723
Liabilities
$896,858

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ANGIE HENGST (PRESIDENT)
  • MICHEAL J FRENZ (VICE PRESIDENT)

People named in this filing

  • ANGIE HENGST (PRESIDENT)
  • MICHEAL J FRENZ (VICE PRESIDENT)
  • FRANK J NARR JR (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 93
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 91.8%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 51.58; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: -40.7% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 16.3% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 28.6% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 8 people listed
  • Highest-paid contractors: 2 contractors listed · $2.8M reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 7 filing years from 2019 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.