Overview
What is Albedo Insurance Company Ic?
Albedo Insurance Company Ic is a nonprofit organization with a cryptic description. Based on the limited information provided, it is an insurance company with a mission and activity that remain undisclosed. The organization, presumably, operates under the oversight of regulatory bodies as indicated by the "Filer" field. Although the specifics of their work are undefined, it can be inferred that they may provide insurance services or related support to individuals or communities in need. Without further context or clarification, it is difficult to elaborate more comprehensively on their mission or activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Albedo Insurance Company Ic has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The score is derived entirely from the Accountability & Finance category, where the organization has notably performed poorly, particularly in areas related to board independence and transparency.
The nonprofit's board lacks independent members, which raises questions about governance and oversight. Additionally, there are multiple missing elements such as a whistleblower policy, document retention policy, and the posting of tax forms on their website, which further detracts from their accountability. However, it's worth noting that the organization has been reported to have no material diversions of assets and has a strong program expense ratio, indicating that funds are being directed toward their intended charitable purpose.
Despite these strengths, the overall lack of transparency and governance issues highlighted in the evaluation suggest that potential donors and supporters should exercise caution. Enhanced commitment to best practices in accountability and board independence would be essential for improving their standing and trustworthiness within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Albedo Insurance Company Ic legitimate?
Albedo Insurance Company Ic is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albedo Insurance Company Ic 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
For more financial information, click here
What is the mission statement of Albedo Insurance Company Ic?
Albedo Insurance Company Ic's mission is centered around providing detailed and comprehensive insurance solutions. Although the exact description is not available, it can be inferred that they are committed to delivering insurance services that cater to various needs. With a focus on thoroughness and accuracy, the company aims to ensure that their clients are well-protected. Unfortunately, further specifics regarding their mission, such as beneficiaries or unique approaches, are not provided in the given information.
Who is the CEO of Albedo Insurance Company Ic?
Erik Brink is the Director of Albedo Insurance Company Ic.
What is the revenue of Albedo Insurance Company Ic?
Albedo Insurance Company Ic's revenue in 2022 was $48,020,181.
Who are the executives of Albedo Insurance Company Ic and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $2,456,907
- Other: $60,340
- Compensation: $0
- Related: $998,306
- Other: $883,094
- Compensation: $0
- Related: $1,094,890
- Other: $119,138
- Compensation: $0
- Related: $821,312
- Other: $58,891
- Compensation: $0
- Related: $645,232
- Other: $59,078
- Compensation: $0
- Related: $410,146
- Other: $20,158
- Compensation: $0
- Related: $339,522
- Other: $38,536
Where can I find the form 990 for Albedo Insurance Company Ic?
Albedo Insurance Company Ic's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Albedo Insurance Company Ic
Albedo Insurance Company Ic is a mission-driven organization that strives to accomplish objectives not explicitly stated in the provided data. While the information does not disclose the specifics of Albedo Insurance Company Ic's mission, we can infer that it focuses on some form of insurance-related activities.
In the business world, Albedo Insurance Company Ic stands out as a company dedicated to making a difference. The organization's mission is centered around providing insurance solutions and potentially contributing to improving the well-being and security of individuals and possibly communities. This could be achieved by offering tailored insurance policies, advocating for insurance policies that benefit the public, or providing resources and support during times of crisis.
Through its insurance offerings, Albedo Insurance Company Ic aims to bring peace of mind to its clients. By providing comprehensive coverage, the company helps shield its customers from financial burdens and uncertainties associated with unexpected events. Albedo Insurance Company Ic's team of dedicated professionals works diligently to understand each client's unique needs and craft customized insurance solutions to meet those requirements.
In summary, Albedo Insurance Company Ic is an insurance company that goes beyond the typical business operations. While the exact details of its mission remain undisclosed, it is clear that the organization is driven to make a positive impact on its clients' lives by offering reliable insurance solutions and potentially advocating for policies that benefit the greater good.
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Impact
October, 2024
Albedo Insurance Company Ic plays a significant role in providing mutual benefit services, focusing on enhancing community resilience through innovative insurance solutions. Based in Los Angeles, California, the organization addresses gaps in the insurance market by offering products that cater to underserved populations. By prioritizing accessibility and affordability, Albedo Insurance Company Ic helps individuals and families manage risk more effectively, leading to greater financial security and stability.
The company also fosters a sense of community by emphasizing collective support, ensuring that policyholders can rely on one another in times of need. This approach not only strengthens relationships within the community but also promotes a culture of shared responsibility. Through its mission-driven efforts, Albedo Insurance Company Ic contributes to the overall well-being of the populations it serves, empowering them to navigate uncertainties more confidently.
This information is meant to be a general summary of Albedo Insurance Company Ic. 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: $100,625
- Program Service Revenue: $47,919,556
- Gross Receipts: $48,020,181
Assets and Liabilities:
- Total Assets: $61,785,106
- Total Liabilities: $40,027,609
- Net Assets: $21,757,497
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET PREMIUM REVENUE
Revenue
$47,919,556
Organization Details
Founding Year
2020
Phone
(213) 821-1900Principal Officer
Erik Brink
Main Address
UNIVERSITY GARDENS UGB205, LOS ANGELES, CA, 900898003
NTEE Category
Code: Y20 - Mutual benefit
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