Albemarle Foundation
- Assets
- $27.3m
- Revenue
- $4.3m
- Investments
- $25.3m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/2006
- Data as of
- 12/2022
- EIN
- 20-4798471
Organization Overview
Albemarle Foundation is located in Charlotte, NC. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albemarle Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Albemarle Foundation generated $4.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $6.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Albemarle Foundation has awarded 8,130 individual grants totaling $35,707,329. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jkent Masters Director/president | 0.25 | $0 | |
Donald James Jim Labauve Director And Treasurer | 0.25 | $0 | |
Netha Johnson Director | 0.25 | $0 | |
Melissa Anderson Director | 0.25 | $0 | |
Karen Narwold Director | 0.25 | $0 | |
Sandra Holub Executive Director | 30 | $37,970 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,751,494 |
| Interest on Savings | $195,727 |
| Dividends & Interest | $310,387 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$998,712 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,258,896 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $37,970 |
| Other employee salaries and wages | $326,305 |
| Pension plans, employee benefits | $64,538 |
| Interest | $0 |
| Taxes | $61,725 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28,963 |
| Total operating and administrative expenses | $843,227 |
| Contributions, gifts, grants paid | $5,401,471 |
| Total expenses and disbursements | $6,244,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,949,308 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $2,900,053 |
| Investments—other | $2,191,189 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $27,297,981 |
| Accounts payable and accrued expenses | $79,133 |
| Grants payable | $951 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $80,084 |
Grants Awarded
Over the last fiscal year, Albemarle Foundation has awarded $5,401,471 in support to 1,166 organizations.
| Grant Recipient | Amount |
|---|---|
CYBERGRANTS PURPOSE: PROGRAM ASSISTANCE | $4,800 |
CYBERGRANTS PURPOSE: PROGRAM ASSISTANCE | $2,432 |
FAMILY ELITE PURPOSE: PROGRAM ASSISTANCE | $5,000 |
UNITED SERVICE ORGANIZATIONS INC PURPOSE: PROGRAM ASSISTANCE | $5,000 |
PEARLAND ELITE BOOSTER CLUB PURPOSE: PROGRAM ASSISTANCE | $2,500 |
LOWCOUNTRY FOOD BANK INC PURPOSE: PROGRAM ASSISTANCE | $500 |