Cape Lookout Albacore Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $68,036
- Spending
- $61,630
- Reserves
- 4.6 months of spending
- Largest source of income
- donations and private grants, 79%
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.
Source: Form 990EZ for the year ending December 31, 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 (2)
- $25,943 spent. 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. In 2025 we also expanded to include literary programming as well. Expense breakout: travel 8364 printing 1522 venue 1500 food & beverage 2000 contractors 3338 supplies 3145 and in-kind assets used 6075
- $34,434 spent. The second part of Albie Fest day 3 3 is a community event fishing tournament and fundraiser with 72 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 2772 food & beverage 5481 contractors 1150 supplies 993 travel 2682 venue 3868 and in-kind assets used 17488
Source: Form 990EZ for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 2023.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.