Albemarle Hospital Foundation

Charity Navigator Rating: Needs Improvement

The Albemarle Hospital Foundation has received a two-star rating from Charity Navigator, reflecting a score of 73%. This indicates that while the organization shows some strengths, there are significant areas for improvement, particularly in accountability and financial transparency. The foundation boasts a fully independent board and a high program expense ratio, which suggests that a substantial portion of its spending is directed toward its programmatic efforts rather than administrative costs.

However, the foundation struggles in areas related to governance policies and financial documentation. Notably, it lacks a whistleblower policy and a document retention and destruction policy, which are critical for ensuring accountability and transparency. Additionally, the absence of financial statements on their website is a significant shortcoming that detracts from their overall score.

Despite these limitations, the foundation has demonstrated good practices in some aspects, such as having no material diversion of assets and a solid liabilities to assets ratio. However, addressing the identified weaknesses is crucial for improving its rating and enhancing stakeholder trust in their operations.

This AI summary has been generated from information found on Charity Navigator.

Albemarle Hospital Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albemarle Hospital Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $107,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $669,337

For more financial information, click here

Official website here: www.albemarlehealth.org