Charlottesville Area Community Foundation
- Assets
- $339.7m
- Revenue
- $77.6m
- Investments
- $43.9m
- Employees
- 14
- Location
- Charlottesville, VA
- Founding
- 07/1989
- Data as of
- 12/2021
- EIN
- 54-1506312
Organization Overview
Charlottesville Area Community Foundation is located in Charlottesville, VA. The organization was established in 1989. 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, Charlottesville Area Community Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlottesville Area Community 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, Charlottesville Area Community Foundation generated $77.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $36.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Charlottesville Area Community Foundation has awarded 6,153 individual grants totaling $128,410,782. 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
GRANTS TO NON-PROFITS MAINLY IN CENTRAL VA & MANAGE CHARITABLE FUNDS FOR INDIVIDUALS & AGENCIES.
Describe the Organization's Program Activity:
THROUGH OUR DISCRETIONARY GRANTS PROGRAM, WE CONTINUE TO BUILD OUR GRANTMAKING PRACTICE AND DOCUMENT OUR SUCCESS. IN 2021, OUR ENRICHING COMMUNITIES GRANTS SUPPORTED A WIDE RANGE OF LOCAL SERVICES AND ACTIVITIES, AWARDING $819,815 TO 116 NONPROFITS. THIS ENRICHING COMMUNITIES GRANT TRACK IS SUPPORTED THROUGH ADDITIONAL FUNDING FROM DOROTHY BATTEN, THE COCO DAVIS FUND, AND THE TARRANT FUND. WE ALSO CONTINUED DISBURSEMENT TO OUR CURRENT MULTIYEAR GRANT PARTNERS, TOTALING $546,035.59 TO 5 ORGANIZATIONS ADDRESSING A BROAD SPECTRUM OF COMMUNITY NEEDS IN EDUCATION, HEALTH, HOUSING, FOOD ACCESS, AND COMMUNITY-BUILDING. THE FOUNDATION ALSO LAUNCHED THECOLLABORATION TO END HOMELESSNESS, A STRATEGIC PARTNERSHIP OF HOUSING-RELATED NONPROFITS, PROVIDING A MEDIUM-TERM SAFE HAVEN FOR THOSE EXPERIENCING HOMELESSNESS, WHILE ALSO ADDRESSING THE REGION'S HISTORICAL HOMELESSNESS CHALLENGES. THE FOUNDATION AWARDED A FIRST-OF-ITS-KIND $4.25 MILLION GRANT FROM THE COMMUNITY FOUNDATION: $3.6 MILLION FROM THE COMMUNITY ENDOWMENT FUND AND $650,000 FROM THE COMMUNITY EMERGENCY RESPONSE FUND, OF WHICH $3.6 MILLION IS RECOVERABLE AND WILL BE RETURNED TO THE COMMUNITY FOUNDATION TO BE REINVESTED IN FUTURE PROJECTS THAT BENEFIT THE REGION. WE FACILITATE PHILANTHROPY FOR POSITIVE CHANGE IN OUR COMMUNITY. IN 2021, WE DISTRIBUTED ALMOST $28.6 MILLION TO 856 NONPROFITS. GRANTS WENT TO HEALTH CARE, EDUCATION, CHILDREN'S SERVICES, ANIMAL WELFARE, ENVIRONMENT, AND THE ARTS. CHARITABLE DOLLARS ALSO SUPPORTED SCHOOLS, PARKS, COMMUNITY FACILITIES AND SERVICES, CAMPS, CLUBS, AND DAY CARE FOR ALL AGES. WE ARE COMMITTED TO EXCELLENCE IN FUND MANAGEMENT. IN 2021, ASSETS UNDER ADMINISTRATION TOTALED $339.6 MILLION. WE ENDED THE YEAR WITH A NET INVESTMENT RETURN OF 13.1% AND A TEN-YEAR ANNUALIZED NET INVESTMENT RETURN OF 11.83%. IN 2021, WE OPENED 18 NEW FUNDS, BRINGING THE TOTAL OF FUNDS UNDER MANAGEMENT TO 407 FUNDS. THESE FUNDS INCLUDE 60 SCHOLARSHIP FUNDS AND 105 AGENCY FUNDS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brennan Gould President, Treasurer & CEO | OfficerTrustee | 40 | $271,225 |
Eboni Bugg Director Of Programs | 40 | $118,041 | |
Murray Rhodes Director Of Finance | 40 | $105,245 | |
Katie Kling Senior Donor Relations Manager | 40 | $100,463 | |
Mr Leonard W Sandridge Jr Secretary | OfficerTrustee | 1 | $0 |
Mr Glenn Rust Vice-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,576,138 |
| Noncash contributions included in lines 1a–1f | $51,548,348 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,576,138 |
| Total Program Service Revenue | $0 |
| Investment income | $3,615,788 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,420,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,610,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,356,156 |
| Grants and other assistance to domestic individuals. | $716,569 |
| Grants and other assistance to Foreign Orgs/Individuals | $350,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $304,274 |
| Compensation of current officers, directors, key employees. | $76,068 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $904,272 |
| Pension plan accruals and contributions | $57,075 |
| Other employee benefits | $47,846 |
| Payroll taxes | $72,818 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,783 |
| Fees for services: Accounting | $28,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,572,038 |
| Fees for services: Other | $284,953 |
| Advertising and promotion | $41,355 |
| Office expenses | $9,726 |
| Information technology | $148,185 |
| Royalties | $0 |
| Occupancy | $43,946 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,672 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,882 |
| All other expenses | $0 |
| Total functional expenses | $36,249,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,391,835 |
| Savings and temporary cash investments | $14,107,050 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $257,845,110 |
| Investments—other securities | $43,851,795 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,494,879 |
| Total assets | $339,690,669 |
| Accounts payable and accrued expenses | $37,886 |
| Grants payable | $4,668,697 |
| 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 | $45,336,050 |
| Total liabilities | $50,042,633 |
| Net assets without donor restrictions | $267,099,299 |
| Net assets with donor restrictions | $22,548,737 |
| 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 | $339,690,669 |
Grants Awarded
Over the last fiscal year, Charlottesville Area Community Foundation has awarded $24,867,917 in support to 564 organizations.
| Grant Recipient | Amount |
|---|---|
Charlottesville, VA PURPOSE: THE PREMIER CIRCLE REDEVELOPMENT PROJECT | $4,250,000 |
Charlottesville, VA PURPOSE: GENERAL PURPOSES | $1,020,938 |
Charlottesville, VA PURPOSE: GENERAL PURPOSES | $1,015,000 |
New York, NY PURPOSE: GENERAL PURPOSES | $1,000,000 |
Charlottesville, VA PURPOSE: ONGOING REDEVELOPMENT WORK | $750,000 |
Charlottesville, VA PURPOSE: THE FRIENDSHIP COURT COMMUNITY RESOURCE CENTER INCLUDING THE EARLY LEARNING CENTER | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Charlottesville Area Community Foundation has recieved totaling $36,000.
| Awarding Organization | Amount |
|---|---|
Rossetter Foundation Chicago, IL PURPOSE: GENERAL PURPOSES | $36,000 |
Endowment Analysis
| Beg. Balance | $60,000 |
| Ending Balance | $60,000 |
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 |