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Asheville Area Chamber of Commerce Community Betterment Foundation

EIN 56-1762978 · Asheville, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood70 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

DEVELOP AND ACCELERATE GROWTH & EMPLOYMENT OPPORTUNITIES FOR THE COMMUNITY.

Income
$2.6 million
Spending
$2.5 million
Spent on programs
99%
Reserves
5.1 months of spending
Largest source of income
donations and private grants, 94%
Employees
0
Volunteers
15
Highest pay
$352,049, secretary

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 70 out of 100. Higher than 31% of charities in its peer group (philanthropy, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 5.1 months of spending.

  • Debt

    5 of 20

    It owes 54% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 3% of income.

  • Income trend

    15 of 15

    Income rose 133% on the year before.

  • Spending floor

    15 of 15

    99% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 58% of charities in its peer group (philanthropy, $1m to $10m).

  • Independent board

    25 of 25

    15 of 15 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $2.5 million spent. 1. FUNDED THE FOLLOWING ACTIVITY THROUGH THE ASHEVILLE AREA CHAMBER OF COMMERCE: 1) WORKFORCE PREPAREDNESS AND DEVELOPMENT, 2) ENTREPRENEUR AND STARTUP DEVELOPMENT, 3) RECRUITMENT OF NEW INDUSTRY, 4) EXPANSION OF EXISTING INDUSTRY, AND 5) RESEARCH. 2. LAUNCHED OPTIMIST VENTURES, A PROGRAM THAT HELPS LONG-TERM AMBITIOUS GROWTH VENTURES BASED IN WESTERN NORTH CAROLINA SUCCEED BY OFFERING START-UP FUNDING AND EDUCATION THROUGH A RIGOROUS 12-WEEEK ACCELERATOR COMPLEMENTED BY $50,000 ($25,000 AS GRANT, $25,000 AS INVESTMENT.). SERVED 7 VENTURES IN FISCAL YEAR 2025. 3. RESPONDED TO THE REGIONAL DISASTER OF HURRICANE HELENE BY LAUNCHING THE MOUNTAIN STRONG FUND FOR BUSINESS RECOVERY. RAISED AND DISTRIBUTED $1,162,685 TO MORE THAN 55 SMALL BUSINESSES AND 16 REGIONAL CHAMBERS OF COMMERCE. 4. IN COOPERATION WITH THE FOLK HERITAGE COMMITTEE, PROMOTED TRADITIONAL MOUNTAIN MUSIC AND DANCE THROUGH THE SHINDIG ON THE GREEN PERFORMANCES AND THE MOUNTAIN DANCE AND FOLK FESTIVAL. 5. PROVIDED 15 BUSINESSES OWNED BY PEOPLE OF COLOR ADVERTISING BENEFITS AND MEMBERSHIPS IN THE ASHEVILLE CHAMBER THROUGH THE PEOPLE'S COMMUNITY AND INCLUSION INITIATIVE.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 1992.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.