Civic Intelligence

Cape Lookout Albacore Foundation Inc.

EIN 93-2915935 • 501(c)3 • Raleigh, NC

Pub. 78 EligibleNTEE C12

Profile

The Cape Lookout Albacore Foundation Inc. or CLAF". CLAF is organized and formed exclusively for charitable and educational purposes.The purpose of CLAF shall be to conduct activities and programs aimed at conserving and understanding the coastal fisheries of North Carolina with a particular focus on recreational fishing. This includes but is not limited to conducting and supporting research into marine ecology and fisheries biology promoting sustainable fishing practices and providing educational resources to the public about the importance of marine biodiversity and conservation. Additionally CLAF will engage in fundraising educational and outreach activities to provide support to other tax-exempt charities that are dedicated to wellbeing of disabled active military service personnel disabled veterans and other at need members of our community. CLAFs commitment extends to enhancing the lives of these individuals through fly fishing and associated activities.

3700 Glenwood Ave Ste 405Raleigh, NC 27612-5540

https: www.capelookoutalbacorefoundation.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

33rd percentile

-0.8%

Higher net margin than 33% of similar nonprofits.

NTEE C • <$500k nonprofits • Source year 2024

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE C • <$500k nonprofits • Source year 2024

Asset Growth

42nd percentile

-3.0%

Faster asset growth than 42% of similar nonprofits.

NTEE C • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

41st percentile

-9.0%

Faster revenue growth than 41% of similar nonprofits.

NTEE C • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$17,371

Down $536 (-3.0%) from 2023

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

Down

$17,371

Down $536 (-3.0%) from 2023

Revenue

Down

$66,958

Down $6,627 (-9.0%) from 2023

Expenses

Up

$67,494

Up $11,816 (+21%) from 2023

Net Income

Down

-$536

Down $18,443 (-103%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20K$15K$10K$5.0K$0Assets 2023: $17,907Net Assets 2023: $17,9072023Assets 2024: $17,371Net Assets 2024: $17,3712024

Highlighted filing

2024

Assets$17,371
Liabilities-
Net Assets$17,371

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80K$60K$40K$20K$0-$20KRevenue 2023: $73,585Expenses 2023: $55,678Net Income 2023: $17,9072023Revenue 2024: $66,958Expenses 2024: $67,494Net Income 2024: -$5362024

Highlighted filing

2024

Revenue$66,958
Expenses$67,494
Net Income-$536

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.1
Gross Receipts
$66,958
Mission and Program Overview

Mission

The Cape Lookout Albacore Foundation Inc. or CLAF". CLAF is organized and formed exclusively for charitable and educational purposes.The purpose of CLAF shall be to conduct activities and programs aimed at conserving and understanding the coastal fisheries of North Carolina with a particular focus on recreational fishing. This includes but is not limited to conducting and supporting research into marine ecology and fisheries biology promoting sustainable fishing practices and providing educational resources to the public about the importance of marine biodiversity and conservation. Additionally CLAF will engage in fundraising educational and outreach activities to provide support to other tax-exempt charities that are dedicated to wellbeing of disabled active military service personnel disabled veterans and other at need members of our community. CLAFs commitment extends to enhancing the lives of these individuals through fly fishing and associated activities.

Program Services

DescriptionGrantsExpenses
Albie Fest days 1-2 3 is a two-part community engagement event and fundraiser directly tied to our mission. The first part of the event is all about serving our Veteran community and putting "Boots on Boats." We conducted a two-day event for 60 Veterans teaching how to tie flys conducting a fly rod casting clinic and hosting lectures about the local fishery. Additionally with the help of local captains and fisherman we were able to put those learnings to work and get 60 Veterans out on the water participating in our local fisheries. Expense breakout: travel $4919 printing $750 venue $4500 food & beverage $3709 contractors $1100 in-kind assets used $17377$0$0
The second part of Albie Fest day 3 3 is a community event fishing tournament and fundraiser with 75 participants from the local community and visitors from around the country. In addition to serving as the primary fund raiser for the organization we were able to recognize three veterans for their outstanding leadership in their community recognize a role model from the fishing community celebrate the outstanding achievements of the tournament winners and discuss conversation. Expense breakout: printing $5866 food & beverage $4948 contractors $2607 in-kind assets used $22493$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
N Christian ThompsonPresident-$0--
John SnipesVice President-$0--
G Grey LittlewoodSecretary-$0--
Gregory BarnesTreasurer-$0--
Kellie ThompsonBoard Member-$0--
Tyler HudginsBoard Member-$0--
Patrick PoindexterBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Cape Lookout Albacore Foundation Inc
EIN
93-2915935
In Care Of
% G GREY LITTLEWOOD
Address
3700 GLENWOOD AVE STE 405, RALEIGH, NC 27612-5540

Signing Officer

Name
Gregory Barnes
Title
Treasurer
Signed
2025-05-15
Supplemental Narrative

Additional Explanations

Part I, line 10

| Grants And Similar Amounts Paid:, Amount:| Restricted grant issued to Project Healing Waters Fly Fishing Inc. EIN: 61-1518154 to support chapters serving veterans in Eastern North Carolina., $9000|

Part I, line 16

| Other Expenses:, Amount:| Albiefest is a community event friendly fishing tournament and fundraiser tied to our mission. As the event is directly tied to our mission we are not reporting it as a fundraiser in row 7. With 75 participants this year we were able to connect many members of the community educate participants about our fisheries make connections between community members and Veterans and honor outstanding role models from the community. Additionally this event served as a key raising mechanism for 2024. Expense breakout use of in-kind goods $19764 venue $5939 food & beverage $5860 assorted supplies $415, $31978| Boots on boats is a two-day immersive event serving veterans about our local fisheries hands on workshop learning to tie multiple fly patterns a casting clinic and getting out on the water to experience our local fisheries. This year we were able to serve 62 Veterans. Expense category breakout: Use of In-Kind Donations $7102 Venue $3965 Food & Beverage $1478 & Travel $400., $12946| Overhead including web hosting transaction processing and bank fees., $1101|

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0| Grants And Similar Amounts Paid:, Amount:| Restricted grant issued to Project Healing Waters Fly Fishing Inc. EIN: 61-1518154 to support chapters serving veterans in Eastern North Carolina., $9000|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1| Other Expenses:, Amount:| Albiefest is a community event friendly fishing tournament and fundraiser tied to our mission. As the event is directly tied to our mission we are not reporting it as a fundraiser in row 7. With 75 participants this year we were able to connect many members of the community educate participants about our fisheries make connections between community members and Veterans and honor outstanding role models from the community. Additionally this event served as a key raising mechanism for 2024. Expense breakout use of in-kind goods $19764 venue $5939 food & beverage $5860 assorted supplies $415, $31978| Boots on boats is a two-day immersive event serving veterans about our local fisheries hands on workshop learning to tie multiple fly patterns a casting clinic and getting out on the water to experience our local fisheries. This year we were able to serve 62 Veterans. Expense category breakout: Use of In-Kind Donations $7102 Venue $3965 Food & Beverage $1478 & Travel $400., $12946| Overhead including web hosting transaction processing and bank fees., $1101|
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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