Civic Intelligence

Retail Advancement Fund

EIN 84-3933913 • 501(c)3 • Richmond, VA

Profile

To support and expand the charitable activites of the retail merchants association.

5101 Monument Avenue 202Richmond, VA 23230

www.retailmerchants.com

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.20x

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

501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.12x

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

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

81st percentile

28%

Higher net margin than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

85th percentile

41%

Faster asset growth than 85% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

74th percentile

23%

Faster revenue growth than 74% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$94,548

Up $13,735 (+17%) from 2024

Liabilities

Down

$0

Down $2,387 (-100%) from 2024

Net Assets

Up

$94,548

Up $16,122 (+21%) from 2024

Revenue

Up

$200,000

Up $25,000 (+14%) from 2024

Expenses

Down

$183,878

Down $9,729 (-5.0%) from 2024

Net Income

Up

$16,122

Up $34,729 (+187%) from 2024

Trend Graphs

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2019: $50,488Liabilities 2019: $5002019Assets 2020: $119,740Liabilities 2020: $42,436Net Assets 2020: $77,3042020Assets 2021: $141,837Liabilities 2021: $75,662Net Assets 2021: $66,1752021Assets 2022: $199,623Liabilities 2022: $40,349Net Assets 2022: $159,2742022Assets 2023: $99,850Liabilities 2023: $3,342Net Assets 2023: $96,5082023Assets 2024: $80,813Liabilities 2024: $2,387Net Assets 2024: $78,4262024Assets 2025: $94,548Liabilities 2025: $0Net Assets 2025: $94,5482025

Highlighted filing

2025

Assets$94,548
Liabilities$0
Net Assets$94,548

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2019: $50,000Expenses 2019: $12Net Income 2019: $49,9882019Revenue 2020: $125,000Expenses 2020: $97,684Net Income 2020: $27,3162020Revenue 2021: $268,000Expenses 2021: $279,129Net Income 2021: -$11,1292021Revenue 2022: $328,500Expenses 2022: $235,401Net Income 2022: $93,0992022Revenue 2023: $200,000Expenses 2023: $262,766Net Income 2023: -$62,7662023Revenue 2024: $175,000Expenses 2024: $193,607Net Income 2024: -$18,6072024Revenue 2025: $200,000Expenses 2025: $183,878Net Income 2025: $16,1222025

Highlighted filing

2025

Revenue$200,000
Expenses$183,878
Net Income$16,122

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Mar 9, 2026
Return Version
2025v4.0
Gross Receipts
$200,000
Mission and Program Overview

Mission

To support and expand the charitable activites of the retail merchants association.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$80,813$94,548▲ $13,735
Total Assets$80,813$94,548▲ $13,735
Liabilities
Accounts Payable and Accrued Expenses$2,387$0▼ $2,387
Total Liabilities$2,387$0▼ $2,387
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$78,426$94,548▲ $16,122
Total Net Assets Fund Balance$78,426$94,548▲ $16,122
Total Liabilities and Net Assets / Fund Balance$80,813$94,548▲ $13,735
Compensation and Service Providers

Employees

NameTitleOtherTotal
Diana McmahonSecretary/treasurer$111,917$111,917

Board Members and Trustees

NameTitle
Nancy ThomasPresident/CEO
Aaron MontgomeryDirector
Kevin RearsonDirector
Scott AronsonDirector
Steve RosserDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$200,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$200,000
Change in Net Assets
$16,122
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$93,604
Other Expenses$90,274
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$93,604--$93,604
Fees for Services Other-$88,768-$88,768
Office Expenses-$840-$840
Conferences and Meetings-$436-$436
Advertising-$200-$200
Other Expenses-$30-$30
Total Functional Expenses$93,604$90,274$0$183,878
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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 B, Line 11B

The finance committee of retail merchants association consisting of board members is notified when the tax return is completed and available for review. The tax return is reviewed by the president and treasurer before filing with the irs.

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

The organization operates in alignment with the retail merchants association and follows said organization's policies in governance matters. A conflict of interest assessment is made on a per vote basis. After a motion is seconded, anyone with a conflict of interest on the motion is requested to leave the room before the discussion starts.

Form 990, Part VI, Section B, Line 15

The organization does not directly have employees. However the process adopted by retail merchants association for determining compensation for officers and key employees is done by the board (for the president) and by the president for other key employees/staff.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statement available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Retail Advancement Fund
EIN
84-3933913
Phone
8046625500
Address
5101 MONUMENT AVENUE 202, RICHMOND, VA 23230

Signing Officer

Name
Nancy Thomas
Title
President/CEO
Phone
8046625500
Signed
2026-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Thomas
Formed
2019
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Keiter Stephens Hurst Gary & Shreaves
Address
4401 DOMINION BLVD, GLEN ALLEN, VA 23060
Preparer
Jayme Mika
Phone
8047470000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Legal and professional services: program service expenses 0. Management and general expenses 83,010. Fundraising expenses 0. Total expenses 83,010. Consulting services: program service expenses 0. Management and general expenses 5,758. Fundraising expenses 0. Total expenses 5,758.

Raw XML Appendix389 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FINANCE COMMITTEE OF RETAIL MERCHANTS ASSOCIATION CONSISTING OF BOARD MEMBERS IS NOTIFIED WHEN THE TAX RETURN IS COMPLETED AND AVAILABLE FOR REVIEW. THE TAX RETURN IS REVIEWED BY THE PRESIDENT AND TREASURER BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OPERATES IN ALIGNMENT WITH THE RETAIL MERCHANTS ASSOCIATION AND FOLLOWS SAID ORGANIZATION'S POLICIES IN GOVERNANCE MATTERS. A CONFLICT OF INTEREST ASSESSMENT IS MADE ON A PER VOTE BASIS. AFTER A MOTION IS SECONDED, ANYONE WITH A CONFLICT OF INTEREST ON THE MOTION IS REQUESTED TO LEAVE THE ROOM BEFORE THE DISCUSSION STARTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT DIRECTLY HAVE EMPLOYEES. HOWEVER THE PROCESS ADOPTED BY RETAIL MERCHANTS ASSOCIATION FOR DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS DONE BY THE BOARD (FOR THE PRESIDENT) AND BY THE PRESIDENT FOR OTHER KEY EMPLOYEES/STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LEGAL AND PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 83,010. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 83,010. CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,758. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,758.
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MISCELLANEOUS SERVICES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MERCHANTS' SERVICES LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05101 MONUMENT AVE
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd023230
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0RETAIL MERCHANTS ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0RETAIL MERCHANTS ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0540354670
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO ENCOURAGE, STIMULATE, EXTEND & PROMOTE THE BUSINESS OF RETAIL MERCHANTS I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt05101 MONUMENT AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0RICHMOND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd023230
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
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IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt080000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0RETAIL MERCHANT ASSOCIATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0L
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt080813
IRS990/TotalAssetsEOYAmt094548
IRS990/TotalAssetsGrp/BOYAmt080813
IRS990/TotalAssetsGrp/EOYAmt094548
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0200000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090274
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt093604
IRS990/TotalFunctionalExpensesGrp/TotalAmt0183878
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02387
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt02387
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt078426
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt094548
IRS990/TotalOtherCompensationAmt026922
IRS990/TotalProgramServiceExpensesAmt093604
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0200000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt080813
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt094548
IRS990/TotReportableCompRltdOrgAmt0297274
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05101 MONUMENT AVENUE 202
IRS990/USAddress/CityNm0RICHMOND
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023230
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.RETAILMERCHANTS.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NANCY THOMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08046625500
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-03-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RETAIL ADVANCEMENT FUND
ReturnHeader/Filer/BusinessNameControlTxt0RETA
ReturnHeader/Filer/EIN0843933913
ReturnHeader/Filer/PhoneNum08046625500
ReturnHeader/Filer/USAddress/AddressLine1Txt05101 MONUMENT AVENUE 202
ReturnHeader/Filer/USAddress/CityNm0RICHMOND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023230
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541631262
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KEITER STEPHENS HURST GARY & SHREAVES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04401 DOMINION BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLEN ALLEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023060
ReturnHeader/PreparerPersonGrp/PhoneNum08047470000
ReturnHeader/PreparerPersonGrp/PreparationDt02026-03-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAYME MIKA
ReturnHeader/ReturnTs02026-03-11T13:21:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02025-01-01
ReturnHeader/TaxPeriodEndDt02025-12-31
ReturnHeader/TaxYr02025

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