Retail Advancement Fund
To support and expand the charitable activites of the retail merchants association.
Retail Advancement Fund at a glance
In short: Retail Advancement Fund reported $94K in grants paid in 2025 (a total; its filing lists no individual grants). Source: 2025 IRS Form 990.
- Grants paid (2025)
- $93,604 — reported as a total on the IRS filing, without an itemized list
- -6.5% vs 2024
- Total assets
- $94,548
- +17.0% vs 2024
- Revenue (2025)
- $200,000
- +14.3% vs 2024
- Expenses (2025)
- $183,878
- -5.0% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Retail Advancement Fund funds
How this funder distributes its grants
Grant Size Distribution
40 grants across all recorded years
The most common grant size was under $50K: 40 grants of 40 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How Retail Advancement Fund gives
- Giving fell 37% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $94K (2025) to $160K (2021). In 2025 it reported $94K in grants paid, as a total without an itemized list.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ms Girlee's Kitchen LLC Richmond, VA | To Purchase Assets | $21,086 |
| Great Work RVA Richmond, VA | To Purchase Assets | $18,570 |
| Bonos Carribean Cuisine Richmond, VA | To Purchase Assets | $15,423 |
| Dolce Pizza & Grill Richmond, VA | To Purchase Assets | $14,214 |
| Spotty Dog Ice Cream Richmond, VA | To Purchase Assets | $10,000 |
| Tonya's Kitchen Richmond, VA | To Purchase Assets | $10,000 |
| Kitchen on Wellington Richmond, VA | To Purchase Assets | $5,746 |
| Sweet Temptations by Therese LLC Richmond, VA | To Purchase Assets | $5,085 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants |
|---|---|---|---|---|---|
| 2025 | $94,548 | $200,000 | $183,878 | $93,604 | Total only |
| 2024 | $80,813 | $175,000 | $193,607 | $100,124 | 8 |
| 2023 | $99,850 | $200,000 | $262,766 | $151,397 | 11 |
| 2022 | $199,623 | $328,500 | $235,401 | $116,752 | 10 |
| 2021 | $141,837 | $268,000 | $279,129 | $159,932 | 11 |
| 2020 | $119,740 | $125,000 | $97,684 | — | — |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About Retail Advancement Fund
Based on IRS filings
Retail Advancement Fund is a public charity focused on Community Improvement & Capacity Building, based in Richmond, VA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $95K in total assets. In 2025, it reported $94K in grants paid as a total on its IRS filing, without an itemized list.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Retail Advancement Fund is led by Nancy Thomas, President & CEO on every filing since 2020; none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Nancy Thomas
President & CEO
On filings since 2020
1 hr/week
No compensation reported
Scott Aronson
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Steve Rosser
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Aaron Montgomery
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Kevin Rearson
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Diana McMahon
Secretary & Treasurer
On filings since 2022
1 hr/week
No compensation reported
Former officers (8)
- Former: Stephen Story (2020–2024) — Director
- Former: Kathy Robins (2023–2024) — Director
- Former: Dorothye Brodersen (2020–2022) — Chair
- Former: Ken Wayland (2020–2022) — Director
- Former: Melissa Ball (2020–2022) — Director
- Former: Sarah Paxton (2020–2022) — Director
- Former: Diana Kent (2020–2021) — Secretary & Treasurer
- Former: John Whitlock (2020) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Retail Advancement Fund
How much does Retail Advancement Fund give each year?
Retail Advancement Fund reported $94K in grants paid in 2025 on its 2025 IRS Form 990, as a total without an itemized list of grants. In 2024 it gave $100K across 8 grants.
How large is Retail Advancement Fund?
Retail Advancement Fund reported $95K in total assets on its 2025 IRS Form 990. Its revenue that year was $200K.
What is Retail Advancement Fund?
Retail Advancement Fund is a public charity focused on Community Improvement & Capacity Building, based in Richmond, VA. It holds $95K in total assets as of 2025.
Where does Retail Advancement Fund operate?
Retail Advancement Fund has awarded grants in Virginia.
What is Retail Advancement Fund's EIN?
Retail Advancement Fund's EIN (Employer Identification Number) is 84-3933913. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-EZ for fiscal year 2020 (received by the IRS February 25, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS March 8, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS February 22, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS March 27, 2025)
- Updated Form 990 for fiscal year 2025 (received by the IRS March 11, 2026)
- IRS filings on file for fiscal years 2020–2025
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