Albemarle Foundation
Albemarle Foundation shows volatile revenue but consistent zero executive compensation.
EIN: 204798471 · Charlotte, NC · NTEE: T20 · Updated: 2026-03-28
Is Albemarle Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Albemarle Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Albemarle Foundation
Albemarle Foundation (EIN: 204798471) is a nonprofit organization based in Charlotte, NC, classified under NTEE code T20. The organization reported total revenue of $17.1M and total assets of $30.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Albemarle Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Albemarle Foundation is a large nonprofit that has been operating for 20 years, with 8 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.3M |
| Total Expenses | $6.2M |
| Surplus / Deficit | $-1,985,802 |
| Total Assets | $27.3M |
| Total Liabilities | $80K |
| Net Assets | $27.2M |
| Operating Margin | -46.6% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 52.5 months |
Financial Health Grade: B
In 2022, Albemarle Foundation reported a deficit of $2.0M with expenses exceeding revenue, holds 52.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2022), Albemarle Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -79.2% | -6.5% | -18.8% |
| 2021 | +1239.9% | +4.4% | +83.0% |
| 2020 | -63.6% | -6.9% | -19.2% |
| 2019 | +6.4% | +50.9% | +98.2% |
| 2014 | +3.5% | +36.1% | +2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Albemarle Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Albemarle Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The Albemarle Foundation consistently reports 0% officer compensation across all available filings, indicating that no portion of its expenses is allocated to executive salaries, which is highly commendable for a nonprofit of its size with assets exceeding $30 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Albemarle Foundation's IRS 990 filings:
- Significant revenue volatility, making financial forecasting challenging.
- Expenses frequently exceed revenue in several periods (e.g., 2022, 2020, 2019), indicating reliance on prior year surpluses or asset drawdowns.
Strengths
The following positive indicators were identified for Albemarle Foundation:
- Consistent 0% officer compensation, demonstrating high efficiency in executive pay.
- Substantial asset base ($30.1M) provides financial stability and capacity for future grantmaking.
- Strong program focus, as indicated by the estimated spending breakdown, aligning with its role as a grantmaking foundation.
Frequently Asked Questions about Albemarle Foundation
Is Albemarle Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Albemarle Foundation (EIN: 204798471) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Albemarle Foundation spend its money?
Albemarle Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Albemarle Foundation tax-deductible?
Albemarle Foundation is registered as a tax-exempt nonprofit (EIN: 204798471). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant revenue fluctuation between 2021 ($20.5M) and 2022 ($4.2M)?
The provided data does not specify the exact reasons for the revenue fluctuation, but such large swings often indicate reliance on significant, one-time grants, large individual donations, or volatile investment income rather than a consistent stream of smaller contributions.
How does the foundation manage its liabilities, which have varied significantly (e.g., $3M in 2014 vs. $80K in 2022)?
The data shows liabilities have fluctuated, from a high of $3,033,049 in 2014 to a low of $80,084 in 2022. This suggests active management of debt or short-term obligations, possibly tied to specific projects or investment strategies, but without more detail, the specific management approach is unclear.
What is the specific nature of the Albemarle Foundation's programs given its NTEE code T20 (Philanthropy, Voluntarism & Grantmaking Foundations)?
As a grantmaking foundation (NTEE T20), the Albemarle Foundation primarily supports other charitable organizations through grants rather than directly operating programs. Its 'programs' spending would largely consist of these grants.
Filing History
IRS 990 filing history for Albemarle Foundation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2022), Albemarle Foundation's revenue has grown by 27.1%, moving from $3.4M to $4.3M. Total assets increased by 759.3% over the same period, from $3.2M to $27.3M. Total functional expenses rose by 74.7%, from $3.6M to $6.2M. In its most recent filing year (2022), Albemarle Foundation reported a deficit of $2.0M, with expenses exceeding revenue. The organization holds $80K in liabilities against $27.3M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $27.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $4.3M | $6.2M | $27.3M | $80K | — | View 990 |
| 2021 | $20.5M | $6.7M | $33.6M | $566K | — | View 990 |
| 2020 | $1.5M | $6.4M | $18.4M | $797K | — | View 990 |
| 2019 | $4.2M | $6.9M | $22.8M | $106K | — | — |
| 2014 | $3.9M | $4.5M | $11.5M | $3.0M | — | View 990 |
| 2013 | $3.8M | $3.3M | $11.2M | $2.2M | — | View 990 |
| 2012 | $11.3M | $3.9M | $10.1M | $2.2M | — | View 990 |
| 2011 | $3.4M | $3.6M | $3.2M | $2.8M | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $4.3M, expenses of $6.2M, and assets of $27.3M (revenue -79.2% year-over-year).
- 2021: Revenue of $20.5M, expenses of $6.7M, and assets of $33.6M (revenue +1239.9% year-over-year).
- 2020: Revenue of $1.5M, expenses of $6.4M, and assets of $18.4M (revenue -63.6% year-over-year).
- 2019: Revenue of $4.2M, expenses of $6.9M, and assets of $22.8M (revenue +6.4% year-over-year).
- 2014: Revenue of $3.9M, expenses of $4.5M, and assets of $11.5M (revenue +3.5% year-over-year).
- 2013: Revenue of $3.8M, expenses of $3.3M, and assets of $11.2M (revenue -66.2% year-over-year).
- 2012: Revenue of $11.3M, expenses of $3.9M, and assets of $10.1M (revenue +236.4% year-over-year).
- 2011: Revenue of $3.4M, expenses of $3.6M, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Albemarle Foundation:
Data Sources and Methodology
This transparency report for Albemarle Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.