Overview
What is Chesapeake-Virginia Beach Achievement Fund?
The Chesapeake-Virginia Beach Achievement Fund is a nonprofit organization, serving as a fundraising arm, with a mission to support the development and success of young men in the Hampton Roads community. They achieve this by providing positive professional mentors, offering guidance in various aspects such as college financing, resume building, financial literacy, and leadership skills. The organization also awards scholarships to exemplary young men and supports charitable efforts through scholarships, mentoring, and community programs. Their primary focus is on leadership development, social outreach, and knowledge dissemination, aiming to improve the health, welfare, and education of the youth in the Hampton Roads community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
The Chesapeake-Virginia Beach Achievement Fund has achieved a commendable score of 82%, reflecting its solid performance in accountability and finance. The charity has a strong program expense ratio of 96.82%, indicating that a significant portion of its funds is directed toward its programs rather than administrative costs. Additionally, the organization boasts a fully independent board, which is crucial for maintaining effective governance and minimizing conflicts of interest.
The organization excels in its culture and community efforts, earning a perfect score of 100 in this area. Furthermore, it has demonstrated robust practices concerning financial integrity, such as having no material diversion of assets and a low liabilities-to-assets ratio of 6.36%. However, there are some gaps in its operational policies, notably the absence of a whistleblower policy and a document retention and destruction policy, which could be areas for improvement.
While the Chesapeake-Virginia Beach Achievement Fund shows strong financial health and governance practices, the missing policies may raise concerns about its commitment to transparency and accountability. Addressing these issues could enhance its overall effectiveness and bolster confidence among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Chesapeake-Virginia Beach Achievement Fund legitimate?
Chesapeake-Virginia Beach Achievement Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chesapeake-Virginia Beach Achievement Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Chesapeake-Virginia Beach Achievement Fund?
The Chesapeake-Virginia Beach Achievement Fund serves as a funding source to support the charitable endeavors that provide scholarships, mentoring, and community programs to foster the development of young men. Beyond its fundraising role, the organization strives to improve various activities, programs, and organizations that enhance the health, welfare, and education of youth in the community, with a primary focus on leadership skills, social outreach, and knowledge and information acquisition. The organization aims to impact the social development, emotional maturity, and academic achievement of its participants through positive professional mentors who teach essential skills such as paying for college, dressing appropriately, college selection, financial literacy, and other necessary fields of endeavor.
Who is the CEO of Chesapeake-Virginia Beach Achievement Fund?
Elegear Primus is the Executive Di of Chesapeake-Virginia Beach Achievement Fund.
What is the revenue of Chesapeake-Virginia Beach Achievement Fund?
Chesapeake-Virginia Beach Achievement Fund's revenue in 2021 was $35,220.
Who are the executives of Chesapeake-Virginia Beach Achievement Fund and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Chesapeake-Virginia Beach Achievement Fund?
Chesapeake-Virginia Beach Achievement Fund's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Chesapeake-Virginia Beach Achievement Fund
The Chesapeake-Virginia Beach Achievement Fund serves as a funding entity for charitable initiatives, with a primary focus on supporting the growth and development of young men. This nonprofit organization's mission is multifaceted, encompassing the improvement of health, welfare, and education in the Hampton Roads community, particularly in the realm of leadership skills, social outreach, and knowledge acquisition.
The Chesapeake-Virginia Beach Achievement Fund is dedicated to affecting the social development, emotional maturity, and academic achievement of its participants. It achieves this by providing positive professional mentors to the youth of the Hampton Roads community. These mentors impart valuable lessons in areas such as paying for college, dressing for success, choosing the right college, financial literacy, and other essential fields of endeavor. The organization's goal is to empower these young individuals, equipping them with the necessary skills to thrive in various aspects of life.
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Impact
August, 2024
The Chesapeake-Virginia Beach Achievement Fund has a significant impact on the development of young men in the Hampton Roads community. Through its fundraising efforts, the organization is able to provide scholarships, mentoring, and community programs that support the social development, emotional maturity, and academic achievement of participants. The CVBAF works to improve the health, welfare, and education of youth in the community, with a focus on leadership skills, social outreach, financial literacy, and academic success. By offering professional mentors and teaching important life skills, the organization helps young men in areas such as college preparation, financial literacy, leadership fundamentals, and personal development. The scholarships awarded by CVBAF recognize and reward the values and skills cultivated through mentorship experiences, making a positive impact on the lives of its beneficiaries.
This information is meant to be a general summary of Chesapeake-Virginia Beach Achievement Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $2
- Gross Receipts: $2,409,834
Assets and Liabilities:
- Total Assets: $109,333
- Total Liabilities: $6,956
- Net Assets: $102,377
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Organization Details
Principal Officer
Elegear Primus
Main Address
109-G GAINSBOROUGH SQUARE, CHESAPEAKE, VA, 23320
NTEE Category
Code: T01 - Philanthropy
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