Albemarle Educational Foundation Inc

Analysis

Albemarle Educational Foundation Inc is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Albemarle Educational Foundation Inc reported income of $1.8m and spending of $1.7m, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $1.8m (+32%), an average of +7.3% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Albemarle Educational Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Delaware County Literacy Council ($1.8m), Folds of Honor Foundation ($1.8m) and Childrens Scholarship Fund of Omaha ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $1.4m against liabilities of $215k, net assets of $1.1m. It reported 79 employees.