Civic Intelligence

Retail Advancement Fund

990 • Fiscal year 2021 • EIN 84-3933913

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 02, 2022

5101 Monument AvenueRichmond, VA 23230

(804) 662-5500

Siviq Scores

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

Liabilities / Assets

90th percentile

0.53x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.28x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

30th percentile

-4.2%

Higher net margin than 30% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$188,876

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 70.5% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

64th percentile

18%

Faster asset growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

87th percentile

114%

Faster revenue growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$141,837

Up $22,097 (+18%) from 2020

Net Assets

Down

$66,175

Down $11,129 (-14%) from 2020

Liabilities

Up

$75,662

Up $33,226 (+78%) from 2020

Revenue

Up

$268,000

Up $143,000 (+114%) from 2020

Expenses

Up

$279,129

Up $181,445 (+186%) from 2020

Net Income

Down

-$11,129

Down $38,445 (-141%) from 2020

Historical Trend

Balance Sheet Trend

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

$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

2021

Assets$141,837
Liabilities$75,662
Net Assets$66,175

Operations Trend

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

2021

Revenue$268,000
Expenses$279,129
Net Income-$11,129
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 2, 2022
Return Version
2021v4.1
Gross Receipts
$268,000
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$119,740$141,837▲ $22,097
Total Assets$119,740$141,837▲ $22,097
Liabilities
Accounts Payable and Accrued Expenses$42,436$75,662▲ $33,226
Total Liabilities$42,436$75,662▲ $33,226
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$77,304$66,175▼ $11,129
Total Net Assets Fund Balance$77,304$66,175▼ $11,129
Total Liabilities and Net Assets / Fund Balance$119,740$141,837▲ $22,097
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dorothye BrodersenChair
Nancy ThomasPresident/CEO
Ken WaylandDirector
Melissa BallDirector
Sarah PaxtonDirector
Scott AronsonDirector
Stephen StoryDirector
Steve RosserDirector
Diana KentSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$268,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$268,000
Change in Net Assets
$-11,129
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$164,887
Other Expenses$114,242
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$164,887--$164,887
Fees for Services Other-$112,797-$112,797
Other Expenses-$750-$750
Office Expenses-$695-$695
Total Functional Expenses$164,887$114,242$0$279,129
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Carolina BbqHenrico, VA-For Repairs and Purchase Assets$43,327
Jade SalonRichmond, VA-To Purchase Assets$24,153
Manchester Groom Saloon LLCRichmond, VA-To Purchase Signage$15,845
Baresoul YogaRichmond, VA-To Purchase Assets$15,018
Favour Cookie CoRichmond, VA-To Purchase Assets, Website Design and Legal Expenses$14,949
Glean LLCRichmond, VA-To Purchase Assets Including Software$10,000
Spotty Dog Ice CreamRichmond, VA-To Purcahse Equipment$9,385
EZ Body & Auto Repair Service LLCRichmond, VA-To Purchase Assets$7,622
Pomona PlantsNorth Chesterfield, VA-To Purchase Assets and Advertisement$7,453
C ALEXANDER'S CLEANERSRichmond, VA-To Purchase Assets$6,600
Walnut Alley LLCRichmond, VA-To Purchase Signage$5,580
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 board is notified when they can review a draft of the 990. The tax return is also 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, RICHMOND, VA 23230

Signing Officer

Name
Nancy Thomas
Title
President/CEO
Phone
8046625500
Signed
2022-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Thomas
Formed
2019
Legal Domicile
Va
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

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 103,668. Fundraising expenses 0. Total expenses 103,668. Consulting services: program service expenses 0. Management and general expenses 9,129. Fundraising expenses 0. Total expenses 9,129.

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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7MANCHESTER GROOM SALOON LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8POMONA PLANTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9SPOTTY DOG ICE CREAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10WALNUT ALLEY LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0814121691
IRS990ScheduleI/RecipientTable/RecipientEIN1472256731
IRS990ScheduleI/RecipientTable/RecipientEIN2471679877
IRS990ScheduleI/RecipientTable/RecipientEIN3461973499
IRS990ScheduleI/RecipientTable/RecipientEIN4460757106
IRS990ScheduleI/RecipientTable/RecipientEIN5814222519
IRS990ScheduleI/RecipientTable/RecipientEIN6300809627
IRS990ScheduleI/RecipientTable/RecipientEIN7861868720
IRS990ScheduleI/RecipientTable/RecipientEIN8811655676
IRS990ScheduleI/RecipientTable/RecipientEIN9824956159
IRS990ScheduleI/RecipientTable/RecipientEIN10474920383
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01301 N 28TH ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12007 VENABLE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21409 ROCKINGHAM ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt33058 NINE MILE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt44109 JACQUE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt51114 NORTH 31ST STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt63304 E MARSHALL ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt73107 KENYON AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt89212 GROUNDHOG DR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9623 N 26TH STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt10PO BOX 23194
IRS990ScheduleI/RecipientTable/USAddress/CityNm0RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm1RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm2HENRICO
IRS990ScheduleI/RecipientTable/USAddress/CityNm3RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm4RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm5RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm6RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm7RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm8NORTH CHESTERFIELD
IRS990ScheduleI/RecipientTable/USAddress/CityNm9RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm10RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd7VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd8VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd9VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd10VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0232235327
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd123223
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd223231
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd323223
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd423230
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd523223
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd623223
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd7232246413
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd823235
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd923223
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1023223
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt012
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0150496
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt026000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt012380
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NANCY THOMAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0188876
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT DIRECTLY HAVE EMPLOYEES. RETAIL MERCHANTS ASSOCIATION'S EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND ISSUES AUTHORIZATION FOR COMPENSATION FOR THE PRESIDENT/CEO.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD IS NOTIFIED WHEN THEY CAN REVIEW A DRAFT OF THE 990. THE TAX RETURN IS ALSO 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 103,668. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 103,668. CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 9,129. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,129.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0541782825
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MISCELLANEOUS SERVICES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MERCHANTS' SERVICES LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05101 MONUMENT AVE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0RICHMOND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd023230
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0RETAIL MERCHANTS ASSOCIATION

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