Retail Advancement Fund is located in Richmond, VA. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Retail Advancement Fund 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, Retail Advancement Fund generated $328.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 60.1% each year . All expenses for the organization totaled $235.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Retail Advancement Fund has awarded 21 individual grants totaling $276,684. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND EXPAND THE CHARITABLE ACTIVITES OF THE RETAIL MERCHANTS ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT AND EXPAND THE CHARITABLE ACTIVITES OF THE RETAIL MERCHANTS ASSOCIATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dorothye Brodersen Chair | OfficerTrustee | 1 | $0 |
Nancy Thomas President/ceo | OfficerTrustee | 1 | $0 |
Diana Mcmahon Secretary/treasurer | OfficerTrustee | 1 | $0 |
Scott Aronson Director | Trustee | 0.5 | $0 |
Melissa Ball Director | Trustee | 0.5 | $0 |
Sarah Paxton Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $328,500 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $328,500 |
Total Program Service Revenue | $0 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $328,500 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $124,868 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $109,897 |
Advertising and promotion | $0 |
Office expenses | $615 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $21 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $235,401 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $199,623 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $199,623 |
Accounts payable and accrued expenses | $40,349 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $40,349 |
Net assets without donor restrictions | $159,274 |
Net assets with donor restrictions | $0 |
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 | $199,623 |
Over the last fiscal year, Retail Advancement Fund has awarded $116,752 in support to 10 organizations.
Grant Recipient | Amount |
---|---|
GLEAN LLC PURPOSE: TO PURCHASE ASSETS INCLUDING SOFTWARE | $16,489 |
LAFOX HAIR DESIGNS PURPOSE: FOR REPAIRS AND PURCHASE ASSETS | $15,465 |
GREEN OLIVE EATERY PURPOSE: TO PURCHASE ASSETS | $14,400 |
URBAN SET BRIDE PURPOSE: FOR REPAIRS AND PURCHASE ASSETS | $14,346 |
JADE SALON PURPOSE: TO PURCHASE ASSETS | $10,838 |
SOUL N VINEGAR PURPOSE: TO PURCHASE EQUIPMENT | $10,045 |
Over the last fiscal year, we have identified 1 grants that Retail Advancement Fund has recieved totaling $125,000.
Awarding Organization | Amount |
---|---|
Bon Secours Richmond Health System Richmond, VA PURPOSE: MISSION SUPPORT | $125,000 |
Organization Name | Assets | Revenue |
---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |