2024-11-14T08:35:29-08:00 2023-12-31 208087076 Foti Flynn Lowen & Co PC PO Box 12765 Roanoke VA 24028 990 2023-01-01 205922663 THE ADVANCEMENT FOUNDATION INC ADVA 5405724542 214 W LEE AVENUE VINTON VA 24179 Annette Patterson President 2024-11-14 true true BRADLEY J DAVIS CPA P00695707 5403449246 2023 2024-10-15 13:58:12Z X 214 W LEE AVENUE VINTON VA 24179 1092955 false X theadvancementfoundation.org X 2007 VA 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. 5 4 8 100 18124 2139 826289 958840 25629 66918 653 -21341 19381 830577 1045792 77717 0 245058 250891 0 27974 601336 325977 846394 654585 -15817 391207 1106815 1595034 874414 997000 232401 598034 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. false false 247381 46662 BEGAN RENOVATIONS FOR A NEW ACCELERATION AND INCUBATION SPACES SERVING 31 SCALING BUSINESSES 223853 77717 20256 SERVED 100 ENTREPERENEURS CONNECTING THEM WITH EDUCATION, MENTORSHIP, RESOURCES AND CONNECTION. CREATED 36 NEW TRAINING WORKSHOPS, NETWORKING EVENTS OR NEW SUPPORT PARTNERSHIPS. 471234 true true false false false false false false false false true false false false true true true false false false false false false false false false false true false false false false false true false false false false true false false false false false false false false true 9 0 true 8 true true true false false false false false true 0 false false false false false false false X 5 4 true false false false false false false true false false false true true true true false false true false false VA X X CINNAMON DOOLEY 5405724542 214 W LEE AVENUE VINTON VA 24179 Annette Patterson President 60.00 0.00 X 59000 0 0 Judy Wood SECRETARY/TREAS 40.00 0.00 X X 1387 0 0 Jon McCoy Director 2.00 0.00 X 0 0 0 Becky Freemal Chairman 2.00 0.00 X X 0 0 0 Patrick Patterson Director 2.00 0.00 X 0 0 0 Marcia Major Director 2.00 0.00 X 0 0 0 LINDA BAILEY Director 2.00 0.00 X 0 0 0 KATIE CONNER Director 2.00 0.00 X 0 0 0 JENNIFER EDDY Director 2.00 0.00 X 0 0 0 60387 0 false false false 0 77086 881754 369000 958840 BUSINESS EDUCATION 20256 20256 LOW COST RENT TO START UP 46662 46662 66918 653 653 0 0 65287 47163 18124 18124 18124 0 0 0 0 OTHER REVENUE 1257 1257 1257 1045792 66918 18124 1910 X 77717 77717 0 0 0 60387 42271 12077 6039 0 173594 121516 34719 17359 0 0 16910 11837 3382 1691 0 0 33245 16623 16622 0 0 0 97714 97714 4825 4825 11293 7905 1694 1694 0 0 2638 2374 264 5667 5100 567 0 0 31987 31987 0 20799 16639 4160 10715 10715 UTILITIES 37445 29956 7489 BANK CHARGE 26208 26208 REPAIRS & MAINTENANCE 12040 10836 1204 UNCOLLECTIBLE PLEDGES 10920 10920 20481 15001 4856 624 654585 471234 155377 27974 96037 141226 44287 141808 358 15626 0 5685 26237 316145 0 1672 1084759 160269 953758 924490 0 0 0 5305 4095 25120 0 1106815 1595034 47598 33377 99292 819185 861331 7631 3000 874414 997000 X 144155 345141 88246 252893 232401 598034 1106815 1595034 391207 -25574 X false true X true false X 323745 325406 468573 851919 958840 2928483 0 0 323745 325406 468573 851919 958840 2928483 60874 2867609 47315 47315 3139 3139 105170 176637 83492 98293 1257 464849 3443786 194620 0.83270 0.78470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19781 19781 925861 126901 798960 105203 11224 93979 33914 22144 11770 924490 SECURITY DEPOSITS 3000 3000 X 1212390 119435 47163 166598 1045792 1045792 821183 119435 47163 166598 654585 654585 Part X : FIN48 Footnote The Foundation is exempt from Federal and Virginia income tax under Section 501(c)(3) of the Internal Revenue Code and is not a private foundation under Section 509(a)(3) of the Internal Revenue Code. The Foundation believes that it has appropriate support for any income tax positions taken, and as such, does not have any uncertain income tax positions that are material to the financial statements. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 RENTAL EXPENSES $47163 Part XII, Line 2d: Other expenses and losses per audited F/S RENTAL EXPENSES $47163 false BLUE HILLS NATURAL FOOD MARKE 738 BLUE HILLS DR GLADE SPRINGS VA 24340 933305779 7000 0 TO HELP WITH START UP COSTS MOUNTAIN MAMA MATERNITY 419 E RIDGEWAY STREET CLIFTON FORGE VA 24422 993748478 6000 0 TO HELP WITH START UP COSTS THE WELLNESS BAR 20 E MAIN STREET MARTINSVILLE VA 24112 6824 0 TO HELP WITH START UP COSTS 0 3 RIPPLE FX REL. PARTY START UP X 13000 5685 false true true 5685 Schedule L, Part V Supplemental Information OWNER OF RIPPLE FX IS A SIBLING OF THE EXECUTIVE DIRECTOR OF THE ORGANIZATION. THE LOAN IS PART OF A LOAN PROGRAM IN FURTHERENCE OF THE ORGANIZATION'S MISSION. THE EXECUTIVE DIRECTOR WAS NOT PART OF THE LOAN GRANT DECISION PROCESS. X 1 369000 COMP SALES false false false Form 990, Part VI, Section A, Line 2 PRESIDENT'S HUSBAND ALSO SITS ON THE BOARD OF DIRECTORS FOR THE ADVANCEMENT FOUNDATION. Form 990, Part VI, Section B, Line 11b GOVERNING BODY HAS OPPORTUNITY TO REVIEW FORM 990 PRIOR TO SUBMITTING RETURN. Form 990, Part VI, Section B, Line 12c CONFLICT OF INTEREST POLICY IS ON HAND AND IS PROVIDED TO ALL POTENTIAL AND EXISTING BOARD MEMBERS EVERY YEAR. Form 990, Part VI, Section B, Line 15a BOARD CHAIR MEETS WITH THE EXECUTIVE DIRECTOR TO REVIEW ACCOMPLISHMENT AND BUDGET IF RAISES ARE POSSIBLE BASED ON GROWTH. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.