Cardinal Bay
Cardinal Bay reported $47.3 million in revenue and $48.1 million in expenses for calendar year 2025. Of every $100 it spent, $91.91 went to program services, $8.09 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 99.7% of the total. The highest compensation it reported for one person was $90,000 (PRESIDENT, CHAIRMAN). Revenue rose 18% between 2019 and 2025. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $48MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $47MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.9% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.1% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 99.7% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $90,000 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.19% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 0 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | -6.3 | 10.0 |
| Independent voting board members Part VI 1a–1b | 3 of 3 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT, CHAIRMAN Director/trustee, officer, 5.00 hrs/week | $90,000 | $0 | $0 | $90,000 |
| SECRETARY Director/trustee, officer, 5.00 hrs/week | $90,000 | $0 | $0 | $90,000 |
| TREASURER Director/trustee, officer, 5.00 hrs/week | $90,000 | $0 | $0 | $90,000 |
0 people received more than $100,000 in reportable compensation from Cardinal Bay (Part VII, line 2). Compensation of current officers, directors and key employees totaled $270K (Part IX, line 5).
7 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b3 · 3 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
Correct a figure or respond
Every number above is copied from Cardinal Bay's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Cardinal Bay, you can publish a response that is linked from this page.
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Of every $100 Cardinal Bay spent in 2025, $91.91 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Cardinal Bay's spending goes to programs?
In calendar year 2025, Cardinal Bay reported that 91.9% of its $48.1 million in expenses went to program services, 8.1% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Cardinal Bay pay its top executive?
The largest total compensation Cardinal Bay reported for one person in calendar year 2025 was $90,000, for the role of PRESIDENT, CHAIRMAN (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Cardinal Bay get its money?
Of $47.3 million in revenue in calendar year 2025, 0.0% came from contributions and grants and 99.7% from program service revenue (Form 990, Part VIII).
Is Cardinal Bay a registered charity?
The IRS lists EIN 35-2440075 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202622659349300132 · read the filing
- 2024: Form 990 for calendar year 2024, object 202512879349302516 · read the filing
- 2023: Form 990 for calendar year 2023, object 202443199349307689 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313189349306786 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233139349302593 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143199349304379 · read the filing
- 2019: Form 990 for calendar year 2019, object 202033159349303498 · read the filing
All filings for EIN 35-2440075: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.