The Advancement Foundation Inc

Nonprofit profile at a glance

EIN
205922663
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2010, Form 990-T 2024, Form 990-N 2007
Location
Vinton, VA, USA
Phone
5405724542
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,135,831
Expenses
$641,595
Assets
$2,195,647
Liabilities
$1,103,377

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Annette Patterson (President)

Highest reported compensation

  • Annette Patterson (President): $67,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

Served 100 entrepereneurs connecting them with education, mentorship, resources and connection. Created and hosted trainings that served 30 communities and over 150 entrepreneurs and innovators.

Operating model

Revenue model
Grant-funded. 73% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Accountability: 83
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.4%; rating input score 46
  • Program expense ratio: 79.2%; rating input score 79
  • Fundraising efficiency: $40.25 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 68.4%; rating input score 68; 32nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 21st percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 43.5%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 3.42; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 12% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 14.8% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 19.9% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 46.4% of revenue deployed · 79.2% of spending went to programs
  • Governance: 7 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $508K in reported program spending
  • Leadership: top reported pay $68K · 9 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.