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← RETAIL ADVANCEMENT FUND

Form 990 for tax year 2023

Filed by RETAIL ADVANCEMENT FUND.

Totals

Total revenue
$200,000
Total expenses
$262,766
Contributions and grants received
$200,000
Grants paid
$159,293
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$99,850
Total liabilities, end of year
$3,342
Net assets or fund balances, end of year
$96,508
Program services expenses (Part IX)
$159,293
Management and general expenses
$103,473
Fundraising expenses
$0
Program service expenses (Part III)
$159,293

Program services were 60.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $200,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $159,293 · program services $159,293

  • 11g · Fees: other

    total $102,493 · management and general $102,493

  • 12 · Advertising and promotion

    total $169 · management and general $169

  • 13 · Office expenses

    total $751 · management and general $751

  • 24a · Other expenses: TAXES & LICENSES

    total $60 · management and general $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $199,623 · end of year $99,850

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,349 · end of year $3,342

  • 27 · Net assets without donor restrictions

    beginning of year $159,274 · end of year $96,508

Mission and programs · 2023

Mission

TO SUPPORT AND EXPAND THE CHARITABLE ACTIVITES OF THE RETAIL MERCHANTS ASSOCIATION.

  • TO SUPPORT AND EXPAND THE CHARITABLE ACTIVITES OF THE RETAIL MERCHANTS ASSOCIATION.

    Expenses $159,293 · Grants $159,293

As filed on the 2023 return.

Listed in Part VII

  • SCOTT ARONSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • KEVIN REARSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • AARON MONTGOMERY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • STEVE ROSSER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • STEPHEN STORY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • KATHY ROBINS

    DIRECTOR

    Total calculated
    $72,279
    From this org
    $0
    From related orgs
    $67,911
    Other
    $4,368
    Hours/week
    0.5 + 2 related

  • NANCY THOMAS

    PRESIDENT/CEO

    Total calculated
    $206,261
    From this org
    $0
    From related orgs
    $174,324
    Other
    $31,937
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,324 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $1,937 related
    Filer's total
    $0 + $206,261 related

  • DIANA MCMAHON

    SECRETARY/TREASURER

    Total calculated
    $85,413
    From this org
    $0
    From related orgs
    $74,219
    Other
    $11,194
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT DIRECTLY HAVE EMPLOYEES. RETAIL MERCHANTS ASSOCIATION'S EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND ISSUES AUTHORIZATION FOR COMPENSATION FOR THE PRESIDENT/CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • RETAIL MERCHANTS ASSOCIATION

    501(C)(6) · TO ENCOURAGE, STIMULATE, EXTEND & PROMOTE THE BUSINESS OF RETAIL MERCHANTS I · VA

    Directly controlled by RETAIL MERCHANTS ASSOCIATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
5 March 2024
IRS schema version
2023v4.0
Source object
202420749349300317

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