Clovelly Foundation
- Assets
- $805.3k
- Revenue
- $110.8k
- Investments
- $797.3k
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 09/1998
- Data as of
- 12/2022
- EIN
- 54-1900970
Organization Overview
Clovelly Foundation is located in Richmond, VA. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Clovelly 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, Clovelly Foundation generated $110.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $244.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Clovelly Foundation has awarded 92 individual grants totaling $1,256,000. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLOVELLY FOUNDATION MAKES GRANTS TO QUALIFYING PUBLIC CHARITIES AND DOES NOT CARRY ON ANY CHARITABLE ACTIVITIES DIRECTLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas N Allen President | 0 | $0 | |
Bernadette G Palmer Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1 |
| Dividends & Interest | $14,226 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $96,593 |
| Capital Gain Net Income | $96,593 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $110,820 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,726 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $301 |
| Total operating and administrative expenses | $17,842 |
| Contributions, gifts, grants paid | $227,000 |
| Total expenses and disbursements | $244,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,003 |
| 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 | $805,259 |
| 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, Clovelly Foundation has awarded $227,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
LONDON SCHOOL OF ECONOMICS PURPOSE: EDUCATIONAL SUPPORT | $60,000 |
TROUSDALE PLACE PURPOSE: CHARITABLE SUPPORT | $55,000 |
HAMPDEN-SYDNEY COLLEGE PURPOSE: EDUCATIONAL SUPPORT | $40,000 |
Richmond, VA PURPOSE: CHARITABLE SUPPORT | $15,000 |
Richmond, VA PURPOSE: CHARITABLE SUPPORT | $15,000 |
Richmond, VA PURPOSE: CHARITABLE SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |