Civic Intelligence

The Advancement Foundation

EIN 20-5922663 • 501(c)3 • Vinton, VA

Profile

The Advancement Foundation empowers citizens through personal, community and financial asset development.

301 S Pollard StreetVinton, VA 24179

www.theadvancementfoundation.org

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.50x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.97x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

87th percentile

44%

Higher net margin than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

53rd percentile

$67,500

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

87th percentile

38%

Faster asset growth than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

53rd percentile

8.6%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,195,647

Up $600,613 (+38%) from 2023

Liabilities

Up

$1,103,377

Up $106,377 (+11%) from 2023

Net Assets

Up

$1,092,270

Up $494,236 (+83%) from 2023

Revenue

Up

$1,135,831

Up $90,039 (+8.6%) from 2023

Expenses

Down

$641,595

Down $12,990 (-2.0%) from 2023

Net Income

Up

$494,236

Up $103,029 (+26%) from 2023

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2010: $24,958Liabilities 2010: $3,486Net Assets 2010: $21,4722010Assets 2011: $304,635Liabilities 2011: $277,584Net Assets 2011: $27,0512011Assets 2012: $299,894Liabilities 2012: $268,298Net Assets 2012: $31,5962012Assets 2013: $283,450Liabilities 2013: $236,039Net Assets 2013: $47,4112013Assets 2014: $283,622Liabilities 2014: $238,328Net Assets 2014: $45,2942014Assets 2015: $277,928Liabilities 2015: $252,479Net Assets 2015: $25,4492015Assets 2016: $275,674Liabilities 2016: $251,763Net Assets 2016: $23,9112016Assets 2017: $328,431Liabilities 2017: $274,266Net Assets 2017: $54,1652017Assets 2018: $330,388Liabilities 2018: $292,786Net Assets 2018: $37,6022018Assets 2019: $329,020Liabilities 2019: $296,911Net Assets 2019: $32,1092019Assets 2020: $425,478Liabilities 2020: $388,510Net Assets 2020: $36,9682020Assets 2021: $1,057,981Liabilities 2021: $326,727Net Assets 2021: $731,2542021Assets 2022: $1,106,815Liabilities 2022: $874,414Net Assets 2022: $232,4012022Assets 2023: $1,595,034Liabilities 2023: $997,000Net Assets 2023: $598,0342023Assets 2024: $2,195,647Liabilities 2024: $1,103,377Net Assets 2024: $1,092,2702024

Highlighted filing

2024

Assets$2,195,647
Liabilities$1,103,377
Net Assets$1,092,270

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $95,364Expenses 2010: $80,953Net Income 2010: $14,4112010Revenue 2011: $162,973Expenses 2011: $154,290Net Income 2011: $8,6832011Expenses 2012: $200,2892012Revenue 2013: $195,185Expenses 2013: $175,541Net Income 2013: $19,6442013Revenue 2014: $182,646Expenses 2014: $126,966Net Income 2014: $55,6802014Revenue 2015: $315,891Expenses 2015: $340,395Net Income 2015: -$24,5042015Revenue 2016: $425,148Expenses 2016: $411,214Net Income 2016: $13,9342016Revenue 2017: $523,333Expenses 2017: $493,079Net Income 2017: $30,2542017Revenue 2018: $278,848Expenses 2018: $295,411Net Income 2018: -$16,5632018Revenue 2019: $416,459Expenses 2019: $421,952Net Income 2019: -$5,4932019Revenue 2020: $471,089Expenses 2020: $466,230Net Income 2020: $4,8592020Revenue 2021: $1,205,935Expenses 2021: $517,037Net Income 2021: $688,8982021Revenue 2022: $830,577Expenses 2022: $846,394Net Income 2022: -$15,8172022Revenue 2023: $1,045,792Expenses 2023: $654,585Net Income 2023: $391,2072023Revenue 2024: $1,135,831Expenses 2024: $641,595Net Income 2024: $494,2362024

Highlighted filing

2024

Revenue$1,135,831
Expenses$641,595
Net Income$494,236

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$1.10$1.09$1.14$0.64$0.49
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.00$0.60$1.05$0.65$0.39
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.87$0.23$0.83$0.85$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.33$0.73$1.21$0.52$0.69
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.39$0.04$0.47$0.47$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.30$0.03$0.42$0.42$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.29$0.04$0.28$0.30$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.27$0.05$0.52$0.49$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.25$0.02$0.43$0.41$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.28$0.25$0.03$0.32$0.34$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.28$0.24$0.05$0.18$0.13$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.28$0.24$0.05$0.20$0.18$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.27$0.03$0.20
2011Summary only. Only limited summary data is available for this year.$0.30$0.28$0.03$0.16$0.15$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$0.10$0.08$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$1,192,100
Mission and Program Overview

Mission

The Advancement Foundation empowers citizens through personal, community and financial assset development

To create opportunities that support economic prosperity and growth for citizens and communities accomplished through diverse educational options; leveraging local, federal and state resources; access to housing and business incubation/acceleration spaces; and investment in business and community development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$924,490$886,998▼ $37,492
Other Notes and Loans Receivable, Net$316,145$313,927▼ $2,218
Pledges and Grants Receivable$141,808$214,456▲ $72,648
Cash and Non-Interest-Bearing Accounts$141,226$188,555▲ $47,329
Savings and Temporary Cash Investments$44,287$29,657▼ $14,630
Accounts Receivable$15,626$4,920▼ $10,706
Intangible Assets$4,095$3,741▼ $354
Receivable From Disqualified Prsn$5,685$3,261▼ $2,424
Prepaid Expenses and Deferred Charges$1,672$0▼ $1,672
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$1,595,034$2,195,647▲ $600,613
Other Assets Total-$550,132-
Liabilities
Mortgage Notes Payable Secured by Investment Property$861,331$975,940▲ $114,609
Deferred Revenue$99,292$99,292→ $0
Accounts Payable and Accrued Expenses$33,377$24,529▼ $8,848
Other Liabilities$3,000$3,616▲ $616
Total Liabilities$997,000$1,103,377▲ $106,377
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$345,141$931,675▲ $586,534
Net Assets With Donor Restrictions$252,893$160,595▼ $92,298
Total Net Assets Fund Balance$598,034$1,092,270▲ $494,236
Total Liabilities and Net Assets / Fund Balance$1,595,034$2,195,647▲ $600,613

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$737,990$150,641$888,631
Leasehold Improvements$90,995$14,208$105,203
Land$57,011-$57,011
Other Land Buildings$1,002$12,375$13,377
Other Assets Org$550,132--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Annette PattersonPresidentFT$67,500$67,500

Board Members and Trustees

NameTitle
Becky FreemalChairman
Jennifer EddyDirector
Jon McCoyDirector
Katie ConnerDirector
Linda BaileyDirector
Patrick PattersonDirector
Judy WoodSecretary/treas
Marcia MajorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,017,081
Program Service Revenue
$84,964
Investment Income
$34,840
Other Revenue
$-1,054
All Other Contributions
$196,850
Change in Net Assets
$494,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,135,831
Revenue Not Reported on Form 990
$114,950
Total Revenue per Audited Statements
$1,250,781
Total Revenue per Form 990
$1,135,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$298,285
Salaries, Compensation, and Employee Benefits$194,588
Grants and Similar Amounts Paid$148,722
Total Fundraising Expense$25,272
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$148,722--$148,722
Other Salaries and Wages$83,401$23,829$11,914$119,144
Fees for Services Other$85,762--$85,762
Current Officers, Directors, Trustees, and Key Employees$42,700$12,200$6,100$61,000
Office Expenses$18,707$4,009$4,009$26,725
All Other Expenses$16,347$3,631$970$20,948
Interest-$19,939-$19,939
Depreciation Depletion$14,996$3,749-$18,745
Fees for Services Accounting$7,989$7,989-$15,978
Payroll Taxes$10,111$2,889$1,444$14,444
Other Expenses$11,585$11,296-$11,296
Travel$7,513-$835$8,348
Insurance-$7,931-$7,931
Occupancy$1,887$210-$2,097
Advertising$1,134--$1,134
Total Functional Expenses$508,132$108,191$25,272$641,595

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$756,545
Expenses per Audited Statements$641,595
Total Expenses per Form 990$641,595
Expenses Not Reported on Form 990$114,950
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gather at 411 E Main LLCWise, VA-To Help With Start Up Costs$23,000
410 on Main CorporationCovington, VA-To Help With Start Up Costs$20,000
The Charc Board LLCWise, VA-To Help With Start Up Costs$18,500
The Friendly Fork CateringCovington, VA-To Help With Start Up Costs$11,000
SolvacyMartinsville, VA-To Help With Start Up Costs$8,760
Off the RiverRural Hall, NC-To Help With Start Up Costs$8,000
Blue Ridge Outdoor School LlBuena Vista, VA-To Help With Start Up Costs$7,000
Chaos CornerRoanoke, VA-To Help With Start Up Costs$5,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$5,685$3,261▼ $2,424
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$3,616
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

President's husband also sits on the board of directors for the advancement foundation.

Form 990, Part VI, Section B, Line 11B

President and contracted finance specialist review the accountants report, board chair and president go over the draft report, board chair reviews with the entire board, and final approval to submit is expressed to the president.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy is on hand and is provided to all potential and existing board members every year.

Form 990, Part VI, Section B, Line 15A

Board chair meets with the executive director to review accomplishment and budget if raises are possible based on growth.review of industry standards for pay are also considered.

Form 990, Part VI, Section C, Line 19

Governing documents are available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
The Advancement Foundation Inc
EIN
20-5922663
Phone
5405724542
Address
301 S POLLARD STREET, VINTON, VA 24179

Signing Officer

Name
Annette Patterson
Title
President
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
Va
Voting Board Members
8
Independent Board Members
7
Employees
8
Volunteers
100

Preparer

Firm
Foti Flynn Lowen & Co Pc
Address
501 S JEFFERSON ST, ROANOKE, VA 24011
Preparer
Bradley J Davis CPA
Phone
5403449246
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Foundation is exempt from Federal and Virginia income tax under Section 501(c)(3) of the Internal Revenue Code and is not a private foundation under Section 509(a)(3) of the Internal Revenue Code. The Foundation believes that it has appropriate support for any income tax positions taken, and as such, does not have any uncertain income tax positions that are material to the financial statements.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

RENTAL EXPENSES $48054

Part XII, Line 2D: Other expenses and losses per audited F/S

RENTAL EXPENSES $48054

Raw XML AppendixShowing 400 of 605 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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