THE ADVANCE CHARITABLE AND EDUCATIONAL FUND

EIN: 300240855 501(c)(3) Education

BROOKLYN, NY

Total Revenue
$16,474
Total Expenses
$83,894
Total Assets
$223,786
Net Assets
$219,886
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NY
Principal Officer
JOHANNA PITMAN
Phone
7183386852
Tax Period
2021-07-01 to 2022-06-30

THE ADVANCE CHARITABLE AND EDUCATIONAL FUND, founded in 2004, is a micro nonprofit in the Education sector that reported $16K in total revenue in fiscal year 2021. Revenue fell 96% from the prior year — a significant decline worth monitoring. Expenses of $84K exceeded revenue, resulting in a 409% operating deficit.

Mission

TO PROVIDE EDUCATIONAL AND CHARITABLE PROJECTS INCLUDING FELLOWSHIPS, ACHIEVEMENT RECOGNITION AND ARTISTIC DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $39,812 Revenue: $16,471

INNOVATION SUMMIT- ANNUAL EVENT THAT SHOWCASES AUSTRALIAN INNOVATION AND BUSINESSES TO THE US MARKET,CONNECTS THE NEXT GENERATION OF AUSTRALIAN ENTREPRENEURS AND INNOVATIONS WITH DYNAMIC GLOBAL...

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INNOVATION SUMMIT- ANNUAL EVENT THAT SHOWCASES AUSTRALIAN INNOVATION AND BUSINESSES TO THE US MARKET,CONNECTS THE NEXT GENERATION OF AUSTRALIAN ENTREPRENEURS AND INNOVATIONS WITH DYNAMIC GLOBAL NETWORKS, KEY BUSINESS INSIDERS AND INVESTOR AND PROVIDES MENTORING TO AUSTRALIANUNIVERSITY STUDENTS.

Program 2
Expenses: $39,811 Revenue: $0

ADVANCE GLOBAL AUSTRALIAN AWARDS- AWARDS GIVEN TO SELECT AUSTRALIAN INDIVIDUALS LIVING OVERSEAS WHO EXHIBIT REMARKABLE TALENT,EXCEPTIONAL VISION, AMBITION AND WHO ARE FUTURE LEADERS AND INNOVATORS IN...

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ADVANCE GLOBAL AUSTRALIAN AWARDS- AWARDS GIVEN TO SELECT AUSTRALIAN INDIVIDUALS LIVING OVERSEAS WHO EXHIBIT REMARKABLE TALENT,EXCEPTIONAL VISION, AMBITION AND WHO ARE FUTURE LEADERS AND INNOVATORS IN THEIR CHOSEN FIELD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $16,471
Program Service Revenue $0
Investment Income $3
Other Revenue $0
TOTAL REVENUE $16,474

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $79,623
Other Expenses $83,894
TOTAL EXPENSES $83,894

Year-over-Year Comparison

2021 2020 Change
Revenue $16,474 $388,259 -1.0%
Expenses $83,894 $349,451 -0.8%
Net Income $-67,420 $38,808 -2.7%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
3

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREW LOW CHAIR 2.50
Officer Director
$0 $0 $0
LOUIS THURGOOD BOARD MEMBER 0.50
Director
$0 $0 $0
CHRIS ROBERT BOSHUIZEN BOARD MEMBER 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $16,474 $83,894 $223,786 $-67,420
2021 $388,259 $349,451 $318,677 $38,808
2019 $785,878 $686,802 $711,470 $99,076
2018 $694,343 $734,010 $1,111,362 $-39,667
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