Overview
What is Albemarle Care Fund?
The Albemarle Care Fund is a charitable organization situated in Charlotte, North Carolina, primarily dedicated to offering financial aid to employees, retirees, and their families associated with Albemarle Corporation and its affiliates. The fund provides assistance to those experiencing catastrophic losses due to natural disasters or encountering financial hardships beyond their control. In 2022, the organization granted five financial aid packages totaling $23,200. The mission of Albemarle Care Fund extends to providing relief during distressing situations, such as hurricanes, tropical storms, tornadoes, fires, earthquakes, floods, or mudslides. Additionally, the fund may offer aid during declared federal emergencies and for individuals facing financial difficulties due to serious illnesses.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
The Albemarle Care Fund has demonstrated strong performance in its accountability and finance, earning a commendable Four-Star rating from Charity Navigator. This rating reflects a robust focus on transparency and responsible financial management. The charity has achieved a perfect score for various metrics, including the independence of its board members and its lack of material diversion of assets.
The organization's board is notably comprised of 80% independent members, which enhances its governance and decision-making processes. Additionally, the Albemarle Care Fund has effective policies in place, such as conflict of interest, whistleblower, and document retention policies, showcasing its commitment to ethical standards. Its program expense ratio is also impressive, with 91.35% of its expenditures directed towards its programs, indicating a strong focus on fulfilling its mission.
While the charity has shown exceptional governance and financial health, the data does not highlight any specific areas for improvement or limitations. Overall, the Albemarle Care Fund appears to be a well-managed nonprofit dedicated to its cause, backed by solid financial practices and strong accountability measures.
This AI summary has been generated from information found on Charity Navigator.
Is Albemarle Care Fund legitimate?
Albemarle Care Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albemarle Care 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 Albemarle Care Fund?
The Albemarle Care Fund's mission is centered around providing financial assistance to employees, retirees, and their families from Albemarle Foundation, Albemarle Corporation, and its affiliates. This aid is intended for individuals who have experienced catastrophic losses due to natural disasters like hurricanes or earthquakes, or who are facing financial hardship beyond their control due to circumstances such as serious illness. In addition, the fund may also offer assistance during declared federal emergencies. The primary objective of the Albemarle Care Fund is to help these individuals meet their basic needs during such challenging times.
During 2022, the organization provided five grants totaling $23,200 to those in need. The mission of the Albemarle Care Fund is to offer a safety net of financial support during times of crisis, ensuring that those affiliated with Albemarle Corporation can weather these difficult moments.
What is the revenue of Albemarle Care Fund?
Albemarle Care Fund's revenue in 2023 was $36,107.
Who are the executives of Albemarle Care Fund and what are their salaries?
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Albemarle Care Fund?
Albemarle Care Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Albemarle Care Fund
Albemarle Care Fund is dedicated to providing financial aid to employees, retirees, and family members associated with Albemarle Foundation, Albemarle Corporation, and its affiliates. This nonprofit organization aims to offer assistance during catastrophic events or hardships that fall beyond an individual's control. Such events may include natural disasters like hurricanes, tornadoes, or floods, or unforeseen circumstances such as serious illnesses. In addition, Albemarle Care Fund may also extend aid to those experiencing financial hardship due to declared federal emergencies.
The mission of Albemarle Care Fund is to provide essential financial support to those in need during times of crisis. By offering financial assistance for basic necessities, the organization helps employees and retirees of Albemarle Corporation and its affiliates, as well as their families, cope with the impacts of disasters or hardships beyond their control. This support can be instrumental in alleviating the financial burden and enabling individuals to recover more swiftly. In 2022, Albemarle Care Fund offered five grants totaling $23,200 to those in need, demonstrating their commitment to providing vital assistance during challenging times.
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Impact
October, 2024
Albemarle Care Fund plays a crucial role in supporting employees, retirees, and their families who face severe financial hardships due to catastrophic events or unforeseen circumstances. By providing financial assistance during times of distress—such as natural disasters, serious illnesses, or other emergencies—the Fund helps secure basic necessities for those affected. In 2022 alone, the Fund distributed five grants totaling $23,200, directly impacting lives and offering a safety net in challenging situations. This support not only alleviates financial burdens but also fosters a sense of community and resilience among the members of Albemarle Corporation and its affiliates.
This information is meant to be a general summary of Albemarle Care 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 2023.
- Gross Receipts: $68,029
Assets and Liabilities:
- Total Assets: $215,939
- Total Liabilities: $0
- Net Assets: $215,939
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Organization Details
Founding Year
2015
Principal Officer
Sandra Holub
NTEE Category
Code: M20 - Public safety
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