Civic Intelligence

Advancement Foundation

990 • Fiscal year 2022 • EIN 20-5922663

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 16, 2023

Organization Profilewww.theadvancementfoundation.org
227 S Pollard StreetVinton, VA 24179

(540) 283-0762

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.79x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

1.05x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

31st percentile

-1.9%

Higher net margin than 31% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$65,000

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

58th percentile

4.6%

Faster asset growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-31%

Faster revenue growth than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$1,106,815

Up $48,834 (+4.6%) from 2021

Net Assets

Down

$232,401

Down $498,853 (-68%) from 2021

Liabilities

Up

$874,414

Up $547,687 (+168%) from 2021

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin31st percentile

Revenue

Down

$830,577

Down $375,358 (-31%) from 2021

Expenses

Up

$846,394

Up $329,357 (+64%) from 2021

Net Income

Down

-$15,817

Down $704,715 (-102%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2022

Assets$1,106,815
Liabilities$874,414
Net Assets$232,401
Open 2022 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$830,577
Expenses$846,394
Net Income-$15,817
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 16, 2023
Return Version
2022v5.0
Gross Receipts
$950,211
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$966,829$959,063▼ $7,766
Cash and Non-Interest-Bearing Accounts$30,311$96,037▲ $65,726
Pledges and Grants Receivable$70,252--
Other Notes and Loans Receivable, Net$41,216$26,237▼ $14,979
Accounts Receivable$3,092$358▼ $2,734
Total Assets$1,136,853$1,106,815▼ $30,038
Other Assets Total$25,153$25,120▼ $33
Liabilities
Mortgage Notes Payable Secured by Investment Property$805,182$819,185▲ $14,003
Accounts Payable and Accrued Expenses$48,888$47,598▼ $1,290
Other Liabilities$5,917$7,631▲ $1,714
Total Liabilities$859,987$874,414▲ $14,427
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$201,515$144,155▼ $57,360
Net Assets With Donor Restrictions$75,351$88,246▲ $12,895
Total Net Assets Fund Balance$276,866$232,401▼ $44,465
Total Liabilities and Net Assets / Fund Balance$1,136,853$1,106,815▼ $30,038

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$698,059$102,802$719,905
Land$144,781-$140,825
Equipment$14,018$18,896$32,914
Other Land Buildings$5,304-$5,304
Leasehold Improvements$96,901$8,240-
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Annette PattersonPresidentFT$65,000$65,000
Judy WoodSecretaryFT$13,121$13,121

Board Members and Trustees

NameTitle
Becky FreemalChair
Jon McCoyDirector
Patrick PattersonDirector
Marcia MajorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$826,289
Program Service Revenue
$25,629
Investment Income
$0
Other Revenue
$-21,341
All Other Contributions
$192,958
Change in Net Assets
$-15,817

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Intellectual Property100$158,919Fair Market Value (FMV)
Other Non Cash Contri Table1$44,138Fmw
Total Noncash Contributions101$203,057-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$601,336
Salaries, Compensation, and Employee Benefits$245,058
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$222,237$2,915-$222,237
Fees for Services Other$159,219$38,645-$197,864
Other Salaries and Wages-$149,623-$149,623
Current Officers, Directors, Trustees, and Key Employees-$78,123-$78,123
Occupancy-$44,138-$44,138
Fees for Services Accounting-$41,332-$41,332
Office Expenses$19,534$13,268-$32,802
Depreciation Depletion-$30,914-$30,914
Payroll Taxes-$17,312-$17,312
Travel$1,919$2,362-$4,281
Advertising$2,838$1,005-$3,843
Interest-$3,669-$3,669
Insurance-$2,005-$2,005
Total Functional Expenses$414,041$432,353$0$846,394
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll liabilities$6,031
Security deposits$1,600
Designated funds-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Presidents husband also sits on the board of directors for The Advancement Foundation.”

Form 990 governing body review Part VI line 11

“Governing body has opportunity to review Form 990 prior to submitting return.”

Conflict of interest policy compliance Part VI line 12C

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

CEO executive director top management comp Part VI line 15A

“Compensation for top management officials are voted on by board of directors every year.”

Other officer or key employee compensation Part VI line 15B

“Compensation of employees other than top management officials are determined by management.”

Governing documents etc available to public Part VI line 19

“Governing documents are available to general public upon request.”

Filing and Contact Details

Filer

Filer Name
The Advancement Foundation Inc
EIN
20-5922663
Address
227 S Pollard Street, Vinton, VA 24179

Signing Officer

Name
Annette Patterson
Title
President
Phone
5402837062
Signed
2023-10-16
Discuss with paid preparer
No

Organization Details

Formed
2007
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
4
Employees
0

Preparer

Firm
T Creasy & Company Pllc
Address
PO Box 215, Cloverdale, VA 24077
Preparer
Todd C Creasy
Phone
5406275956
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Reclass imputed interest and contribution revenue for VHDA loan per independent auditor.”

List of other fees for services expenses Part IX line 11G

“Outside contractor services used for various aspects of organization from accounting, grant writing and AmeriCorps workers.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Presidents husband also sits on the board of directors for The Advancement Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing body has opportunity to review Form 990 prior to submitting return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflict of interest policy is on hand and is provided to all potential and existing board members every year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for top management officials are voted on by board of directors every year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation of employees other than top management officials are determined by management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents are available to general public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Reclass imputed interest and contribution revenue for VHDA loan per independent auditor.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Outside contractor services used for various aspects of organization from accounting, grant writing and AmeriCorps workers.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other fees for services expenses Part IX line 11g
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Annette Patterson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05402837062
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Advancement Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0ADVA

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,106,815
Liabilities
$874,414
Net assets
$232,401
Revenue
$830,577
Expenses
$846,394
Net income
-$15,817
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
2022Detailed filing. Detailed filing data is available for this year.$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