Overview
What is Climate Access Fund Corporation?
The Climate Access Fund Corporation is a small, Baltimore-based nonprofit organization with one employee. Its primary mission is to provide financing to developers of community solar projects that cater to low-to-moderate income households. This endeavor aims to ensure that all communities have access to clean and affordable electricity. Recently, the organization has incurred minor expenses for solar project development.
Official website here: www.climateaccessfund.org
What are the reviews and ratings of this charity?
33% Rating from Charity Navigator
Climate Access Fund Corporation has received a Zero-Star out of Four Star rating due to its low overall score of 33%. While the organization boasts a fully independent board, which is a positive sign for accountability, it significantly falters in financial transparency and reporting. The absence of financial statements is particularly concerning, as it limits insights into the organization’s fiscal health and operational efficiency.
The data indicates that the organization has a very low program expense ratio of 0.41%, suggesting that a minimal portion of its budget is allocated directly to its programs. This raises questions about the effectiveness and impact of its initiatives. Furthermore, the lack of crucial policies such as whistleblower protections and document retention demonstrates potential governance weaknesses that could affect trust and accountability.
Despite having a low liabilities to assets ratio, indicating manageable debt levels, the overall financial health requires scrutiny. The high salary of the CEO, combined with inadequate financial disclosures, may raise concerns among donors and stakeholders about the organization's prioritization of resources. Without significant improvements in transparency and program funding, the Climate Access Fund Corporation may struggle to gain confidence from the public and potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Climate Access Fund Corporation legitimate?
Climate Access Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Climate Access Fund Corporation 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: $121,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.climateaccessfund.org
What is the mission statement of Climate Access Fund Corporation?
The Climate Access Fund's mission revolves around providing capital to developers of community solar projects that primarily serve low-to-moderate income households. This aim is to ensure that all communities have access to clean and affordable electricity. By doing so, the organization strives to contribute to the broader goal of making renewable energy sources more accessible, especially for those who might otherwise struggle with energy costs. Despite incurring minor expenses for solar project development, the organization remains dedicated to its mission.
Official website here: www.climateaccessfund.org
Who is the CEO of Climate Access Fund Corporation?
Carolynn Heller is the Ceo of Climate Access Fund Corporation. The CEO's salary of Climate Access Fund Corporation is $121,000 and their total compensation is $121,000.
Official website here: www.climateaccessfund.org
What is the revenue of Climate Access Fund Corporation?
Climate Access Fund Corporation's revenue in 2022 was $508,589.
Official website here: www.climateaccessfund.org
Who are the executives of Climate Access Fund Corporation and what are their salaries?
The average compensation at Climate Access Fund Corporation during 2022 was $121,000. There is 1 employee at Climate Access Fund Corporation.
Here are 4 key members and their salaries (Climate Access Fund Corporation's CEO's salary is $121,000 and their total compensation is $121,000):
- Compensation: $121,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.climateaccessfund.org
Where can I find the form 990 for Climate Access Fund Corporation?
Climate Access Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.climateaccessfund.org
Learn more at the official website: www.climateaccessfund.org
Mission Statement of Climate Access Fund Corporation
The Climate Access Fund Corporation, a non-profit organization, is dedicated to providing financing for developers of community solar projects that cater to low-to-moderate income households. Its mission is geared towards ensuring that all communities have access to clean and affordable electricity. The organization's primary focus is on supporting developers who create community solar projects, with the intention of making these projects accessible to subscribers from lower income brackets. Despite incurring minor expenses during solar project development, the Climate Access Fund Corporation remains committed to its mission of democratizing renewable energy for all.
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Impact
July, 2024
Climate Access Fund Corporation's impact lies in providing crucial financing to developers of community solar projects that specifically target low-to-moderate income households. By facilitating the development of these projects, the organization plays a vital role in expanding access to clean and affordable electricity within communities that may otherwise struggle to afford it. This not only helps in reducing carbon emissions and promoting environmental sustainability but also contributes to improving energy equity and empowering underserved populations. Through its mission-driven approach, the Climate Access Fund Corporation contributes to creating a more inclusive and environmentally conscious energy landscape.
This information is meant to be a general summary of Climate Access Fund Corporation. 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: $3,541
- Gross Receipts: $508,589
Assets and Liabilities:
- Total Assets: $2,036,431
- Total Liabilities: $2,514
- Net Assets: $2,033,917
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Organization Details
Founding Year
2017
Principal Officer
Carolynn Heller
Main Address
9 BEECHDALE ROAD, BALTIMORE, MD, 21210
Website
www.climateaccessfund.orgNTEE Category
Code: C60 - Environment
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