Alleghany Foundation
- Assets
- $55.6m
- Revenue
- $7.9m
- Investments
- $52.0m
- Employees
- 0
- Location
- Covington, VA
- Founding
- 12/1995
- Data as of
- 12/2021
- EIN
- 54-1027400
Organization Overview
Alleghany Foundation is located in Covington, VA. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public 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. Alleghany 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 12/2021, Alleghany Foundation generated $7.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Alleghany Foundation has awarded 96 individual grants totaling $5,403,824. 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 Program Activity:
N/A - THE FOUNDATION DOES NOT ACTIVELY CONDUCT CHARITABLE ACTIVITIES ITSELF, BUT RATHER FUNDS OTHER ORGANIZATIONS THAT DO.
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Board, Officers & Key Employees
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,033,384 |
| Net Rental Income | -$3,307 |
| Net Gain on Sale of Assets | $6,943,652 |
| Capital Gain Net Income | $6,943,652 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$37,088 |
| Total Revenue | $7,941,608 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $171,175 |
| Other employee salaries and wages | $109,515 |
| Pension plans, employee benefits | $67,111 |
| Interest | $0 |
| Taxes | $162,125 |
| Depreciation | $38,791 |
| Occupancy | $26,203 |
| Travel, conferences, and meetings | $38,073 |
| Printing and publications | $13,949 |
| Other expenses | $60,245 |
| Total operating and administrative expenses | $1,226,454 |
| Contributions, gifts, grants paid | $2,710,948 |
| Total expenses and disbursements | $3,937,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,243 |
| Savings and temporary cash investments | $250,877 |
| 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 | $52,046,283 |
| Net Land, buildings, and equipment | $1,092,497 |
| Other assets | $1,928,053 |
| Total assets | $55,551,953 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,385,493 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $236,558 |
| Total liabilities | $2,622,051 |
Grants Awarded
Over the last fiscal year, Alleghany Foundation has awarded $3,601,140 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
Covington, VA PURPOSE: INCENTIVES FOR RELOCATION CAMPAIGN | $402,322 |
COVINGTON CITY PUBLIC SCHOOLS PURPOSE: JOINT SCHOOL COMMUNICATIONS SPECIALIST | $313,543 |
INDUSTRIAL DEVELOPMENT AUTHORITY OF COVINGTON-ALLEGHANY COUNTY VIRGINIA PURPOSE: DOWNTOWN REVITALIZATION PROPERTY DEVELOPMENT - 410 WEST MAIN STREET | $271,500 |
Covington, VA PURPOSE: MOODY BUILDING ROOF REPLACEMENT PROJECT | $234,165 |
Covington, VA PURPOSE: STREAMIN3 | $229,641 |
ALLEGHANY HISTORICAL SOCIETY PURPOSE: ALLEGHANY HIGHLANDS INDUSTRIAL HERITAGE AND TECHNOLOGY DISCOVERY CENTER RENOVATION COMPLETION | $207,526 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
Helvetas Usa Washington, DC | $584,936 | $9,906,698 |
Asbury Foundation Inc Frederick, MD | $52,948,136 | $11,506,831 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |
Taubman Foundation For The Arts Roanoke, VA | $20,057,493 | $918,229 |
Swim Across America Inc Charlotte, NC | $6,654,266 | $9,920,780 |
Schoolseed Foundation Memphis, TN | $5,107,519 | $7,793,603 |