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The Auction Academy FY2022 filing

Tax-deductible

Franklin, TN501(c)(3)Education EIN 46-1333580Revenue $600K in FY2022

On file with the IRSauctionacademy.net341 Cool Springs Blvd Ste 430, 37067-6412 · Franklin, TNTax-exempt since Apr 2014School — 170(b)(1)(A)(ii)

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To provide a more formal training and education environment for young leadership coming into the auto Auction industry whether as owners or employees.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $26K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$119K
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$600K
+141% vs prior year
Spent
$379K
To programs
63%
Net assets
$169K
By yearFY2020–FY2025
Revenue
$600K
FY2022▲ +141%
Tap a bar for its year
Revenue by fiscal year
FY2020$192K
FY2020$25K
FY2021$249K
FY2022$600K
FY2023$499K
FY2024$749K
FY2025$734K
Expenses
$379K
FY2022▼ -21%
Tap a bar for its year
Expenses by fiscal year
FY2020$71K
FY2020$8K
FY2021$479K
FY2022$379K
FY2023$806K
FY2024$477K
FY2025$656K
Net assets
$169K
FY2022▲ +427%
Tap a bar for its year
Net assets by fiscal year
FY2020$161K
FY2020$178K
FY2021−$52K
FY2022$169K
FY2023−$277K
FY2024−$5K
FY2025$72K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $241K Management & general 37% · $138K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Penny Wanna
President
$0Pt VII · Sec A
Pauline Pons
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Auction Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Trains and educates young leaders entering the auto auction industry.

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Provided by the organization

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1 program · $241K · in their own filed words · FY2022
01

Auction academy provides training and development experience for the automotive auction professioanl that is designed to enhance essential skill sets, promote best practices, and yield better results. More than casual knowledge is required to succeed in today's competitive marketplace.

$241Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$600K
Ln 12
Fees for servicesLn 2g$600K
Money outPt IX
$379K
Ln 25
Programscol B$241K
Managementcol C$138K
Owns and owesPt X
$169K
net assets · Ln 32
Cash and savingsLn 1–2$288K
Total assetsLn 16$288K
LiabilitiesLn 26$119K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$600K
Total revenueLn 12$600K
Assets in detailPt X, end of year
CashLn 1$288K
Cash and savings togetherLn 1–2$288K
Total assetsLn 16$288K
LiabilitiesLn 26$119K
Net assetsLn 32$169K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$43K$288K
Total assetsLn 16$68K$288K
LiabilitiesLn 26$120K$119K
Net assetsLn 32−$52K$169K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$138K$138K
Legal feesLn 11b$204$204
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$44K$44K
Information technologyLn 14$8K$8K
TravelLn 17$149K$149K
Conferences, conventions and meetingsLn 19$6K$6K
InterestLn 20$509$509
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$13K$13K
Total functional expensesLn 25$379K$241K$138K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $734K$656K$77K$72K 990 PDF
FY2024 $749K$477K$271K−$5K 990 PDF
FY2023 $499K$806K−$306K−$277K 990 PDF
FY2022 Viewing $600K$379K$221K$169K 990 PDF
FY2021 $249K$479K−$230K−$52K 990 PDF
FY2020 $192K$71K$121K$161K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $600,000 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $249,000$600,000
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $249,000$600,000
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $478,835$378,954
I-18 Total expensesPrior year $478,835$378,954
I-19 Revenue less expensesPrior year −$229,835$221,046
Part VI · Governance 1 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $600,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $600,000$600,000
VIII-12 Total revenueRelated to mission $600,000$600,000
Part IX · Statement of functional expenses $378,954 across 11 lines filed
IX-11a Management feesManagement $138,450$138,450
IX-11b Legal feesPrograms $204$204
IX-11c Accounting feesPrograms $2,700$2,700
IX-12 Advertising and promotionPrograms $15,323$15,323
IX-13 Office expensesPrograms $44,250$44,250
IX-14 Information technologyPrograms $7,577$7,577
IX-17 TravelPrograms $149,179$149,179
IX-19 Conferences, conventions and meetingsPrograms $6,072$6,072
IX-20 InterestPrograms $509$509
IX-23 InsurancePrograms $1,323$1,323
IX-24 Other expenses (24a–d)Programs $13,367$13,367
IX-25 Total functional expensesPrograms $240,504 · Management $138,450 · Fundraising $0$378,954
Part X · Balance sheet $288,328 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $43,182$288,328
X-16 Total assetsStart of year $68,182$288,328
X-25 Other liabilitiesStart of year $120,000$119,100
X-26 Total liabilitiesStart of year $120,000$119,100
X-32 Total net assets or fund balancesStart of year −$51,818$169,228
X-33 Total liabilities and net assetsStart of year $68,182$288,328
Part XI · Reconciliation of net assets $169,228 net assets at year end
XI-1 Total revenue$600,000
XI-2 Total expenses$378,954
XI-3 Revenue less expenses$221,046
XI-4 Net assets at start of year−$51,818
XI-10 Net assets at end of year$169,228

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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