Alleghany Foundation
- Assets
- $63.5m
- Revenue
- $4.8m
- Investments
- $61.9m
- Employees
- 0
- Location
- Covington, VA
- Founding
- 12/1995
- Data as of
- 12/2022
- 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 12/2022, Alleghany Foundation generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 4 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 2020, Alleghany Foundation has awarded 195 individual grants totaling $10,573,484. 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
2022
Describe the Organization's Program Activity:
N/A - THE FOUNDATION DOES NOT ACTIVELY CONDUCT CHARITABLE ACTIVITIES ITSELF, BUT RATHER FUNDS OTHER ORGANIZATIONS THAT DO.
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
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Fant Donnan Executive Director | 40 | $183,000 | |
Susan W Rollinson PHD Board President | 1 | $0 | |
Kelly Dean Madsen Secretary/ Treasurer | 1 | $0 | |
Janie D Barnette Director | 1 | $0 | |
Brandon S Caldwell Director | 1 | $0 | |
Dr David E Crandall Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $837,834 |
| Net Rental Income | $6,835 |
| Net Gain on Sale of Assets | $4,878,519 |
| Capital Gain Net Income | $4,878,519 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,128,833 |
| Total Revenue | $4,798,920 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $183,000 |
| Other employee salaries and wages | $92,255 |
| Pension plans, employee benefits | $66,512 |
| Interest | $0 |
| Taxes | $27,113 |
| Depreciation | $38,623 |
| Occupancy | $31,284 |
| Travel, conferences, and meetings | $86,198 |
| Printing and publications | $61,235 |
| Other expenses | $21,099 |
| Total operating and administrative expenses | $1,073,992 |
| Contributions, gifts, grants paid | $1,430,120 |
| Total expenses and disbursements | $2,504,112 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,833 |
| 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 | $61,931,211 |
| Net Land, buildings, and equipment | $1,057,923 |
| Other assets | $10,978 |
| Total assets | $63,491,822 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,272,757 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $32,391 |
| Total liabilities | $2,305,148 |
Grants Awarded
Over the last fiscal year, Alleghany Foundation has awarded $5,169,660 in support to 99 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHANY COUNTY PUBLIC SCHOOLS PURPOSE: JOINT SCHOOL CONSOLIDATION IMPLEMENTATION PLANNING | $25,000 |
ALLEGHANY HIGHLANDS ARTS & CRAFTS CENTER PURPOSE: FUNDRAISING MATCH | $3,290 |
ALLEGHANY HIGHLANDS ARTS COUNCIL PURPOSE: MATCHING FUNDS & RESIDENCY ACTIVITIES 2019-20 | $7,496 |
ALLEGHANY HIGHLANDS ARTS & CRAFTS CENTER PURPOSE: MATCHING GENERAL OPERATING SUPPORT | $41,634 |
ALLEGHANY HIGHLANDS CHAMBER OF COMMERCE AND TOURISM PURPOSE: TOURISM MARKETING OF THE ALLEGHANY HIGHLANDS 2020-2022 | $76,508 |
ALLEGHANY HIGHLANDS ARTS COUNCIL PURPOSE: 2020 NAVIGATING THE NEW NORMAL | $12,850 |