Overview
What is Asheville Area Chamber Of Commerce Community Betterment Foundation?
The Asheville Area Chamber of Commerce Community Betterment Foundation is a nonprofit organization based in Asheville, North Carolina. Their primary mission is to foster and expedite growth and employment opportunities within the community. They achieve this through various initiatives, including workforce preparedness and development, entrepreneur and startup development, recruitment of new industries, expansion of existing industries, and site development. The Foundation has received financial support from the Golden Leaf Foundation, which they utilized to create a resource named Inclusive Hiring Partners, aimed at bridging the employment gap for residents facing barriers such as former justice involvement, substance use disorder recovery, intergenerational poverty, and long-term unemployment or underemployment. Additionally, they collaborated with the Golden Leaf Foundation and Biltmore Farms LLC to fund the construction of a bridge spanning the French Broad River, granting access to a manufacturing facility. Furthermore, the Foundation promotes businesses owned by people of color and collaborates with the Folk Heritage Committee to promote traditional mountain music and dance events.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
The Asheville Area Chamber Of Commerce Community Betterment Foundation has achieved a solid Three-Star rating with an overall score of 80%. This rating reflects a commendable level of accountability and financial management, highlighted by perfect scores in areas such as independent board membership, audit oversight, and conflict of interest policies. The organization demonstrates strong governance practices, ensuring transparency and ethical conduct in its operations.
Strengths of the foundation include a high program expense ratio of 99.63%, indicating that nearly all of its expenditures go directly toward its charitable programs. Additionally, the absence of material diversion of assets and liabilities, along with comprehensive documentation of board meeting minutes and financial disclosures, showcases the organization’s commitment to ethical management.
However, the organization faces challenges in terms of fundraising efficiency, with a notably low ratio of $0.002, suggesting that it may struggle to raise funds effectively relative to its operational costs. Furthermore, a working capital ratio of only 0.21 years indicates potential difficulties in maintaining liquidity. Overall, while the foundation displays strong governance and programmatic commitment, it may need to improve its fundraising strategies and financial resilience.
This AI summary has been generated from information found on Charity Navigator.
Is Asheville Area Chamber Of Commerce Community Betterment Foundation legitimate?
Asheville Area Chamber Of Commerce Community Betterment Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asheville Area Chamber Of Commerce Community Betterment 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Asheville Area Chamber Of Commerce Community Betterment Foundation?
The Asheville Area Chamber of Commerce Community Betterment Foundation's mission is centered around fostering and accelerating growth and employment opportunities within the community. They accomplish this by supporting various initiatives, such as workforce preparedness and development, entrepreneur and startup development, recruiting new industries, expanding existing ones, and facilitating site development. The foundation also receives funding from organizations like the Golden Leaf Foundation and Biltmore Farms LLC, which they use to bridge employment gaps for individuals facing barriers like previous incarceration or long-term unemployment. Additionally, they promote diversity by offering benefits and memberships to businesses owned by people of color and support traditional mountain music and dance through events like the Shindig on the Green performances and Mountain Dance and Folk Festival.
Who is the CEO of Asheville Area Chamber Of Commerce Community Betterment Foundation?
Kathryn Cramer is the Chair of Asheville Area Chamber Of Commerce Community Betterment Foundation.
What is the revenue of Asheville Area Chamber Of Commerce Community Betterment Foundation?
Asheville Area Chamber Of Commerce Community Betterment Foundation's revenue in 2022 was $6,607,474.
Who are the executives of Asheville Area Chamber Of Commerce Community Betterment Foundation and what are their salaries?
There 20 volunteers at Asheville Area Chamber Of Commerce Community Betterment Foundation.
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- Related: $306,795
- Other: $18,066
Where can I find the form 990 for Asheville Area Chamber Of Commerce Community Betterment Foundation?
Asheville Area Chamber Of Commerce Community Betterment Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Asheville Area Chamber Of Commerce Community Betterment Foundation
The Asheville Area Chamber of Commerce Community Betterment Foundation is dedicated to fostering and propelling growth and employment opportunities within the community. Its mission is to catalyze advancement in various sectors, including workforce preparedness and development, entrepreneurship and startup culture, industry recruitment, expansion of existing industries, and site development. This initiative aims to create a thriving and inclusive economic landscape, providing ample job opportunities for residents facing employment barriers such as former justice involvement, substance use disorder recovery, intergenerational poverty, long-term unemployment, or underemployment.
In addition to bolstering the local job market, the Foundation has also received funding from the Golden Leaf Foundation and Biltmore Farms LLC to support inclusive hiring partners. This initiative seeks to bridge the employment gap between residents and well-paying careers in high-demand industries. By connecting individuals in need with these opportunities, the Foundation contributes to a more equitable and prosperous community, empowering individuals to overcome obstacles and build fulfilling careers.
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Impact
July, 2024
The impact of the Asheville Area Chamber Of Commerce Community Betterment Foundation is significant in developing and accelerating growth and employment opportunities for the community. Through its various funded activities, the foundation has supported workforce preparedness and development, entrepreneur and startup development, recruitment of new industry, expansion of existing industry, and site development. Additionally, the foundation has played a key role in inclusive hiring initiatives, providing resources to bridge employment gaps for individuals facing barriers such as justice involvement, incarceration history, substance use disorder recovery, intergenerational poverty, long-term unemployment, or underemployment.
Moreover, the foundation has been instrumental in infrastructure development, including funding the construction of a bridge spanning the French Broad River to provide access to a manufacturing facility. In promoting diversity and inclusion, the foundation has supported businesses owned by people of color through advertising benefits and memberships in the Asheville Chamber. Furthermore, in collaboration with the Folk Heritage Committee, the foundation has contributed to the preservation and promotion of traditional mountain music and dance through events like the Shindig on the Green performances and the Mountain Dance and Folk Festival.
Overall, the Asheville Area Chamber Of Commerce Community Betterment Foundation's activities have had a positive impact on the community, fostering economic growth, creating employment opportunities, and advancing social inclusion and cultural heritage.
This information is meant to be a general summary of Asheville Area Chamber Of Commerce Community Betterment Foundation. 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 2022.
- Investment Income: $1,942
- Program Service Revenue: $1,743,127
- Gross Receipts: $6,607,474
Assets and Liabilities:
- Total Assets: $2,704,997
- Total Liabilities: $1,350,639
- Net Assets: $1,354,358
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FRENCH BROAD RIVER BRI
Revenue
$1,557,900
INCLUSIVE HIRING PARTN
Revenue
$145,381
FOLK HERITAGE COMMITTE
Revenue
$39,846
Organization Details
Founding Year
1991
Phone
(828) 258-6119Principal Officer
Kathryn Cramer
Main Address
PO BOX 1010, ASHEVILLE, NC, 28802
NTEE Category
Code: T31 - Philanthropy
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