College of the Albemarle Foundation Inc

Analysis

College of the Albemarle Foundation Inc is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in June 1980, 46 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, College of the Albemarle Foundation Inc reported income of $1.2m and spending of $1.2m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.1m to $1.2m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 160%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, College of the Albemarle Foundation Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Grove Collective Foundation ($1.2m), Nativity School of Harrisburg ($1.2m) and Northwest Colorado Center for Independence ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 62% of the total. Other salaries and wages came to $273k. At year end it held assets of $11.7m against liabilities of $319k, net assets of $11.4m.