Advantix Development Corporation
- Assets
- $26.6m
- Revenue
- $5.2m
- Investments
- $574.3k
- Employees
- 103
- Location
- Evansville, IN
- Founding
- 02/2014
- Data as of
- 12/2022
- EIN
- 80-0757957
Organization Overview
Advantix Development Corporation is located in Evansville, IN. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Advantix Development Corporation employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advantix Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Advantix Development Corporation generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $3.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN, OPERATE, PURCHASE, SELL AND MANAGE REAL ESTATE AND AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGING NON FEDERAL LOW INCOME HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David G Hatfield Chairman | OfficerTrustee | 1 | $1,200 |
Glenda B Hampton Commissioner | Trustee | 1 | $1,325 |
Mildred Thacker Secretary | OfficerTrustee | 1 | $1,100 |
Richard Engbers Commissioner | Trustee | 1 | $1,100 |
Daphne J Robinson Vice Chairman | OfficerTrustee | 1 | $1,200 |
Sabino Humbane Commissioner | Trustee | 1 | $700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Irvin Four Star Construction Irvin Construction | 12/30/22 | $2,101,020 |
Lgc Contractors Construction | 12/30/22 | $1,399,258 |
Alstadt Plumbing Inc Construction | 12/30/22 | $116,984 |
Allied Electrical Constructors Inc Construction | 12/30/22 | $1,444,997 |
Worleys Wallcovering & Painting Construction | 12/30/22 | $1,127,889 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $52,093 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,531 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,624 |
| Total Program Service Revenue | $2,146,815 |
| Investment income | $151,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $997,284 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,837,185 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,194,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $890,776 |
| Pension plan accruals and contributions | $12,863 |
| Other employee benefits | $178,702 |
| Payroll taxes | $9,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,162 |
| Fees for services: Accounting | $62,997 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $618,760 |
| Advertising and promotion | $14,023 |
| Office expenses | $129,265 |
| Information technology | $62,445 |
| Royalties | $0 |
| Occupancy | $186,863 |
| Travel | $55,826 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,647 |
| Interest | $486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $426,556 |
| Insurance | $262,222 |
| All other expenses | $0 |
| Total functional expenses | $3,393,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,624,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,167,162 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,117,750 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $932,980 |
| Net Land, buildings, and equipment | $1,791,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $574,288 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $428,588 |
| Total assets | $26,637,427 |
| Accounts payable and accrued expenses | $9,900,139 |
| Grants payable | $0 |
| Deferred revenue | $12,750 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,912,889 |
| Net assets without donor restrictions | $2,214,642 |
| Net assets with donor restrictions | $14,509,896 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $26,637,427 |