Carmax Foundation
- Assets
- $8.0m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 10/2003
- Data as of
- 02/2024
- EIN
- 38-3681796
Organization Overview
Carmax Foundation is located in Richmond, VA. The organization was established in 2003. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmax Foundation 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 02/2024, Carmax Foundation generated $10.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $7.9m during the year ending 02/2024. While expenses have increased by 2.4% per year over the past 9 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 2015, Carmax Foundation has awarded 18,345 individual grants totaling $65,275,248. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Ancarrow President | 2 | $0 | |
Mathew Jewett Treasurer | 2 | $0 | |
Ashley Cullum Secretary (through 09/23) | 2 | $0 | |
Jessica Kirkland Secretary | 2 | $0 | |
Karen Holt Director | 2 | $0 | |
Mark Collier Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carmax Enterprise Services Llc | 2/28/24 | $251,231 |
Erika Paulin | 2/28/24 | $65,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,700,000 |
| Interest on Savings | $380,818 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,080,818 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,041 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $16,535 |
| Printing and publications | $10,756 |
| Other expenses | $309,786 |
| Total operating and administrative expenses | $676,412 |
| Contributions, gifts, grants paid | $7,234,486 |
| Total expenses and disbursements | $7,910,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,301 |
| Savings and temporary cash investments | $7,966,767 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,978,068 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Carmax Foundation has awarded $7,234,486 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN ONLINE GIVING FOUNDATION PURPOSE: DONATIONS DISBURSED TO QUALIFIED 501C3 NONPROFITS REFLECTING AS PART OF EMPLOYEE CHOICE GIVING PROGRAMS | $4,858,966 |
KABOOM PURPOSE: BUILDING PLAYGROUNDS IN UNDERSERVED COMMUNITIES | $1,309,180 |
POINTS OF LIGHT PURPOSE: CONNECT CARMAX ASSOCIATES TO VOLUNTEER OPPORTUNITIES | $1,030,000 |
PROJECT HELPING PURPOSE: VOLUNTEER KITS | $11,340 |
HAPPY HOPE FOUNDATION PURPOSE: VOLUNTEER KITS | $25,000 |