The Community Foundation Inc
- Assets
- $859.3m
- Revenue
- $152.8m
- Investments
- $603.3m
- Employees
- 52
- Location
- Richmond, VA
- Founding
- 03/1970
- Data as of
- 12/2021
- EIN
- 23-7009135
Organization Overview
The Community Foundation Inc is located in Richmond, VA. The organization was established in 1970. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Community Foundation Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Community Foundation Inc generated $152.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $60.5m during the year ending 12/2021. While expenses have increased by 5.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Community Foundation Inc has awarded 4,735 individual grants totaling $277,495,261. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AND INSPIRE PEOPLE TO BUILD PHILANTHROPY FOR OUR REGION AND TO ENGAGE IN OUR COMMUNITY.
Describe the Organization's Program Activity:
HEALTH & WELLNESS: TOGETHER, WE WANT TO ENSURE THAT RESIDENTS HAVE ACCESS TO COMPREHENSIVE AND COORDINATED PREVENTIVE SERVICES AND QUALITY HEALTH CARE. RESIDENTS ARE CONNECTED TO RESOURCES THAT MEET THEIR HEALTH, NUTRITIONAL AND SAFETY NEEDS. STRATEGIC FOCUS AREAS INCLUDE: - ACCESS TO PRIMARY HEALTH CARE - OPERATING SAFETY NET CLINICS; FACILITATING USE OF A MEDICAL HOME; OFFERING MEDICAL-RELATED HOME VISITATION; OFFERING WRAPAROUND SERVICES TO MAINTAIN HEALTH; PROVIDING MENTAL HEALTH SERVICES - BASIC PHYSICAL HEALTH - FACILITATING ACCESS TO FOOD & NUTRITION; PROMOTING REGULAR PHYSICAL ACTIVITY; TEACHING HEALTH EDUCATION- TARGETED INTERVENTIONS - OFFERING TRAUMA-INFORMED CARE; IMPROVING AND SUSTAINING THE QUALITY OF LIFE FOR OLDER ADULTS
EDUCATIONAL SUCCESS: TOGETHER WE WANT TO ENSURE THAT CHILDREN BEGIN SCHOOL READY TO LEARN AND ARE SUPPORTED ACADEMICALLY AND SOCIALLY THROUGHOUT THEIR EDUCATIONAL EXPERIENCE. YOUTH BECOME SKILLED, SELF-SUFFICIENT AND CONTRIBUTING MEMBERS OF THE COMMUNITY. STRATEGIC FOCUS AREAS INCLUDE:- KINDERGARTEN READINESS - ENSURING ACCESS TO QUALITY PRESCHOOL AND CHILDCARE; OFFERING CHILD DEVELOPMENT-RELATED HOME VISITATION; ENGAGING PARENTS AND CAREGIVERS- K-12 ACADEMIC SUCCESS - SUPPORTING STUDENTS BY INCREASING THE QUALITY OR CAPACITY OF IN-SCHOOL RESOURCES; TEACHING POSITIVE BEHAVIOR AND SELF-MANAGEMENT SKILLS; ENGAGING PARENTS AND CAREGIVERS- COLLEGE AND/OR CAREER READINESS - DEVELOPING YOUTH TO ENTER THE WORKFORCE; INCREASING ACCESS AND EXPOSURE TO POST-SECONDARY OPPORTUNITIES
ECONOMIC PROSPERITY, CAPACITY BUILDING AND OTHER: TOGETHER, WE WANT TO ENSURE THAT RESIDENTS ACCESS AND MAINTAIN SAFE AND AFFORDABLE HOUSING IN THRIVING, SUSTAINABLE COMMUNITIES. RESIDENTS HAVE THE FINANCIAL KNOWLEDGE, SKILLS AND RESOURCES TO SUPPORT THEMSELVES AND ARE ABLE TO ACCESS TO CAREER AND ECONOMIC OPPORTUNITIES. STRATEGIC FOCUS AREAS:- NEIGHBORHOOD DEVELOPMENT - BUILDING HOUSEHOLD INCOME, FINANCIAL STABILITY & WEALTH; REVITALIZING NEIGHBORHOODS; ENGAGING RESIDENTS TO SELF-ADVOCATE- ADULT WORKFORCE DEVELOPMENT - TRAINING & EDUCATION THAT LEADS TO WORKFORCE PREPARATION, CERTIFICATIONS, CREDENTIALS & DEGREES; REDUCING EMPLOYMENT BARRIERS; INCREASING ACCESS TO TRANSPORTATION & WRAPAROUND SERVICES TO MAINTAIN EMPLOYMENT- HOMELESSNESS REDUCTION - AVOIDING HOMELESSNESS THROUGH SHELTER DIVERSION; PROVIDING EMERGENCY SHELTER; FACILITATING RAPID RE-HOUSING & EXITS TO PERMANENT HOUSING- SAFE & AFFORDABLE HOUSING - CREATING HOUSING UNITS OR PRESERVING AFFORDABILITY OF EXISTING UNITS; OFFERING WRAPAROUND SERVICES TO MAINTAIN HOUSING; ASSISTING OLDER ADULTS TO AGE IN PLACE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherrie Armstrong President & CEO | Officer | 40 | $357,045 |
Emmett S Blackwell Chief Community Engagement Officer | Officer | 40 | $220,191 |
Cassandra Emery Chief Operating Officer | Officer | 40 | $173,630 |
Michelle A Nelson Chief Financial Officer | Officer | 40 | $167,986 |
Maura D Bittner Sr. Vp, Philanthropic Services | 40 | $164,268 | |
Vanessa Diamond Svp, Civic Engagement | 40 | $140,355 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Super-server Llc Dba Proxios Technology Support | 12/30/21 | $115,197 |
Spider Management Company Llc Investment Management | 12/30/21 | $2,586,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,432,845 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,267,726 |
| Noncash contributions included in lines 1a–1f | $25,088,346 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,700,571 |
| Total Program Service Revenue | $464,072 |
| Investment income | $139,672 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $48,338,766 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,790,051 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,277,344 |
| Grants and other assistance to domestic individuals. | $720,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $998,658 |
| Compensation of current officers, directors, key employees. | $499,329 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,114,366 |
| Pension plan accruals and contributions | $170,444 |
| Other employee benefits | $256,349 |
| Payroll taxes | $275,553 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,530 |
| Fees for services: Accounting | $64,733 |
| Fees for services: Lobbying | $14,100 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,000,520 |
| Fees for services: Other | $222,995 |
| Advertising and promotion | $71,679 |
| Office expenses | $87,701 |
| Information technology | $472,225 |
| Royalties | $0 |
| Occupancy | $494,429 |
| Travel | $8,717 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,765 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $264,044 |
| Insurance | $262,934 |
| All other expenses | $114,300 |
| Total functional expenses | $60,505,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,893,975 |
| Savings and temporary cash investments | $41,564,159 |
| Pledges and grants receivable | $22,170,877 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $263,827 |
| Net Land, buildings, and equipment | $795,012 |
| Investments—publicly traded securities | $95,044,068 |
| Investments—other securities | $603,321,242 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $83,296,611 |
| Total assets | $859,349,771 |
| Accounts payable and accrued expenses | $3,416,662 |
| Grants payable | $7,733,537 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,321,251 |
| Total liabilities | $63,471,450 |
| Net assets without donor restrictions | $280,928,934 |
| Net assets with donor restrictions | $514,949,387 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $859,349,771 |
Grants Awarded
Over the last fiscal year, The Community Foundation Inc has awarded $48,235,677 in support to 760 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: GENERAL PURPOSES | $1,510,510 |
Richmond, VA PURPOSE: GENERAL PURPOSES | $1,416,150 |
Charlottesville, VA PURPOSE: GENERAL PURPOSES | $1,273,999 |
Richmond, VA PURPOSE: GENERAL PURPOSES | $1,189,952 |
Richmond, VA PURPOSE: GENERAL PURPOSES | $1,077,850 |
Hagerstown, MD PURPOSE: GENERAL PURPOSES | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that The Community Foundation Inc has recieved totaling $6,786,900.
| Awarding Organization | Amount |
|---|---|
Reinhart Foundation Richmond, VA PURPOSE: NON-QUALFYING DISTRIBUTION TO THE REINHART PERFORMING ARTS ENDOWMENT | $5,000,000 |
The Pauley Family Foundation Richmond, VA PURPOSE: FOR UNRESTRICTED SUPPORT | $312,491 |
Annabella R Jenkins Foundation Richmond, VA PURPOSE: UNRESTRICTED SUPPORT | $260,808 |
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: COMMUNITY FOUNDATION GIFT | $200,000 |
Ann K Kirby Foundation Richmond, VA PURPOSE: UNRESTRICTED SUPPORT | $162,934 |
Reinhart Foundation Richmond, VA PURPOSE: CHARITABLE PURPOSES | $143,206 |
Endowment Analysis
| Beg. Balance | $395,596,129 |
| Earnings | $76,878,198 |
| Admin Expense | $4,607,224 |
| Net Contributions | $44,443,939 |
| Grants | $11,073,036 |
| Ending Balance | $501,238,006 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Washington Community Foundation Washington, DC | $525,338,994 | $244,699,070 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN | $205,748,037 | $85,831,682 |
The Community Foundation Inc Richmond, VA | $859,349,771 | $152,790,051 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |
Charlottesville Area Community Foundation Charlottesville, VA | $339,690,669 | $77,610,040 |
Baltimore Community Foundation Inc Baltimore, MD | $302,066,491 | $73,158,770 |
North Carolina Community Foundation Inc Raleigh, NC | $442,779,010 | $109,848,330 |
Hampton Roads Community Foundation Norfolk, VA | $431,066,210 | $16,919,172 |
Triangle Community Foundation Durham, NC | $302,593,887 | $28,260,487 |
Chattanooga Christian Community Foundation Chattanooga, TN | $107,861,272 | $37,732,736 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN | $242,437,300 | $52,106,763 |
East Tennessee Foundation Knoxville, TN | $333,652,631 | $23,055,951 |