Advancement Foundation

Analysis

Advancement Foundation is a registered charity in United States, based in Vinton, VA. It received its IRS tax-exemption ruling in November 2007, 19 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Advancement Foundation reported income of $1.0m and spending of $655k, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $416k to $1.0m (+151%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 156%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Advancement Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Bronx Neighborhood Housing Services CDC Inc ($1.0m), Habitat for Humanity International Inc ($1.0m) and Pilot International Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.4% of the total. Compensation of current officers, directors and key employees was $60k (9.2% of expenses). Other salaries and wages came to $174k. At year end it held assets of $1.6m against liabilities of $997k, net assets of $598k. It reported 8 employees.