INDUSTRY ADVANCEMENT FUND INC (EIN 752086648) - Form 990 Financial Analysis & Trantor Score

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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

1986

Legal Domicile

Principal Officer

A ROY KERN JR

Phone

4693596000

Tax Period

2023-10-01 to 2024-09-30

INDUSTRY ADVANCEMENT FUND INC, founded in 1986, is a small nonprofit that reported $109K in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. Expenses of $160K exceeded revenue, resulting in a 46% operating deficit.

Mission

RESEARCH AND SCHOLARSHIPS IN THE DRILLED SHAFT INDUSTRY

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $53,650

Program Service Revenue $0

Investment Income $55,641

Other Revenue $0

TOTAL REVENUE $109,291

Expense Breakdown

Grants Paid $48,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $142,132

Other Expenses $111,990

TOTAL EXPENSES $159,990

Year-over-Year Comparison

	2023	2022	Change
Revenue	$109,291	$64,380	+0.7%
Expenses	$159,990	$101,585	+0.6%
Net Income	$-50,699	$-37,205	+0.4%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE LONG	TRUSTEE	8.00	Officer Director	$0	$0	$0
MIKE HAYES	TRUSTEE	8.00	Director	$0	$0	$0
A ROY KERN JR	TRUSTEE	8.00	Officer Director	$0	$0	$0
TOM ARMOUR	TRUSTEE	8.00	Director	$0	$0	$0
LANCE KITCHENS	TRUSTEE	8.00	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
2024	$109,291	$159,990	$1,664,229	$-50,699
2023	$64,380	$101,585	$1,461,079	$-37,205
2022	$64,490	$72,176	$1,401,154	$-7,686
2021	$151,590	$92,561	$1,770,682	$59,029
2020	$125,221	$134,624	$1,535,392	$-9,403
2019	$174,336	$244,221	$1,514,003	$-69,885
2018	$135,513	$46,564	$1,571,645	$88,949

INDUSTRY ADVANCEMENT FUND INC