Commonwealth Foundations
- Assets
- $819.0k
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 46-5103846
Organization Overview
Commonwealth Foundations is located in Richmond, VA. The organization was established in 2016. 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. Commonwealth Foundations 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, Commonwealth Foundations generated $12.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $11.8m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 5 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, Commonwealth Foundations has awarded 411 individual grants totaling $47,839,026. 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 |
|---|---|---|---|
Alice T Goodwin Director | 0.1 | $0 | |
William H Goodwin Jr Director, President/treasurer | 0.1 | $0 | |
James A Jones Assistant Treasurer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $12,460,000 |
| Interest on Savings | $0 |
| 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 | $12,460,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $200 |
| Total operating and administrative expenses | $13,755 |
| Contributions, gifts, grants paid | $11,782,698 |
| Total expenses and disbursements | $11,796,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $819,010 |
| Savings and temporary cash investments | $0 |
| 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 | $819,010 |
| 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, Commonwealth Foundations has awarded $11,782,698 in support to 92 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: GENERAL SUPPORT | $2,000,000 |
LEWIS GINTER BOTANICAL GARDEN PURPOSE: GENERAL SUPPORT | $1,975,343 |
MARY BALDWIN UNIVERSITY PURPOSE: GENERAL SUPPORT | $1,050,000 |
VIRGINIA TECH FOUNDATION PURPOSE: GENERAL SUPPORT | $1,010,000 |
VCU SCHOOL OF ENGINEERING FOUNDATION PURPOSE: GENERAL SUPPORT | $814,009 |
DARDEN SCHOOL FOUNDATION PURPOSE: GENERAL SUPPORT | $610,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Commonwealth Foundations has recieved totaling $6,232,674.
| Awarding Organization | Amount |
|---|---|
H7 Foundation Charlottesville, VA PURPOSE: GENERAL CHARITABLE PURPOSES | $6,232,674 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burroughs Wellcome Fund Research Triangle Park, NC | $946,804,754 | $86,337,046 |
Dollywood Foundation Pigeon Forge, TN | $23,282,143 | $42,750,755 |
Sherman Fairchild Foundation Inc Chevy Chase, MD | $608,781,139 | $70,437,193 |
Blue Cross And Blue Shield Of North Carolina Foundation Durham, NC | $253,862,813 | $27,558,288 |
Tennessee Health Foundation Inc Chattanooga, TN | $243,056,353 | $3,261,329 |
Assisi Foundation Of Memphis Inc Memphis, TN | $238,137,134 | $32,851,811 |
Commonwealth Foundations Richmond, VA | $819,010 | $12,460,000 |
Brown-Forman Foundation Louisville, KY | $0 | $24,207,060 |
Carmax Foundation Richmond, VA | $6,340,369 | $9,797,991 |
Ingersoll-Rand Charitable Foundation Davidson, NC | $949,422 | $5,202,263 |
Teleios Collaborative Network Flat Rock, NC | $1,937,761 | $5,692,077 |
Berry Charitable Foundation Greensboro, NC | $66,443,887 | $19,441,279 |