Overview
What is The Advancement Foundation Inc?
The Advancement Foundation Inc, situated in Vinton, Virginia, serves as a nonprofit organization with a mission to empower its community. By focusing on capacity building and investment, they particularly support the growth of small businesses. The foundation's work extends beyond economic development, as they are committed to enhancing the personal and community assets of their citizens. Their aim is to foster a sense of empowerment among individuals, contributing positively to their overall well-being.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 41%, Zero-Star out of Four Star rating.
The Advancement Foundation Inc has received a low rating of 41% from Charity Navigator, primarily due to deficiencies in its financial transparency and accountability. The organization scored particularly poorly in areas such as financial statements and the posting of tax forms on its website, which are critical for donors seeking assurance about effective fund management. The lack of available financial documentation raises concerns regarding the foundation's fiscal practices.
Despite the low score, the organization does exhibit strengths in governance, with 66% of its board members being independent. The presence of conflict of interest and whistleblower policies further reflects a commitment to ethical oversight. However, the absence of certain essential documents, like a document retention policy, indicates that there may be room for improvement in operational practices.
Overall, potential donors should exercise caution and thoroughly evaluate the foundation's financial operations before contributing. The score reflects significant areas for improvement that could enhance transparency and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is The Advancement Foundation Inc legitimate?
The Advancement Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Advancement Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $78,123
Professional Fundraising Fees: $0
Other Salaries and Wages: $149,623
For more financial information, click here
What is the mission statement of The Advancement Foundation Inc?
The Advancement Foundation Inc's mission is centered around empowering citizens. This is achieved through three key aspects: personal development, community growth, and financial asset enhancement. By focusing on these areas, the foundation aims to equip individuals with the necessary tools to improve their lives and contribute positively to their communities. Additionally, the foundation supports the growth and investment of small businesses, further contributing to community development.
Who is the CEO of The Advancement Foundation Inc?
Annette Patterson is the President of The Advancement Foundation Inc.
What is the revenue of The Advancement Foundation Inc?
The Advancement Foundation Inc's revenue in 2022 was $830,577.
Who are the executives of The Advancement Foundation Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $65,000
- Related: $0
- Other: $0
- Compensation: $13,121
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Advancement Foundation Inc?
The Advancement Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Advancement Foundation Inc
The Advancement Foundation, as an organization, is dedicated to empowering citizens on a personal, communal, and financial level. Their mission revolves around fostering the growth and development of individuals, communities, and small businesses through asset acquisition and investment. By focusing on these areas, The Advancement Foundation aims to enhance the overall well-being and capabilities of the citizens it serves.
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Impact
October, 2024
The Advancement Foundation Inc significantly impacts the community by empowering citizens through personal, community, and financial asset development. By focusing on the growth and investment of small businesses, the organization fosters economic development in Vinton, VA. Its capacity-building programs encourage entrepreneurship and enhance the local economy, providing individuals with the tools and resources needed for success. Through these initiatives, The Advancement Foundation promotes community improvement, helping to create a vibrant and sustainable environment for all residents.
This information is meant to be a general summary of The Advancement Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $25,629
- Gross Receipts: $950,211
Assets and Liabilities:
- Total Assets: $1,106,815
- Total Liabilities: $874,414
- Net Assets: $232,401
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Gauntlet
Revenue
$22,872
Other Services
Revenue
$2,757
Organization Details
Founding Year
2007
Principal Officer
Annette Patterson
Main Address
227 S Pollard Street, Vinton, VA, 24179
NTEE Category
Code: S31 - Community improvement
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