Commonwealth Foundation I
- Assets
- $35.1m
- Revenue
- $2.2m
- Investments
- $34.8m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 05/1997
- Data as of
- 12/2020
- EIN
- 62-1668516
Organization Overview
Commonwealth Foundation I is located in Richmond, VA. The organization was established in 1997. 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. Commonwealth Foundation I 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 12/2020, Commonwealth Foundation I generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $4.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Goodwin Jr Director, President/treasu | 0.1 | $0 | |
Alice T Goodwin Director, Secretary | 0.1 | $0 | |
Peter O Goodwin Director | 0.1 | $0 | |
Matthew T Goodwin Director | 0.1 | $0 | |
Sarah G August Director | 0.1 | $0 | |
James A Jones Assistant Treasurer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $2,461,700 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,172,434 |
| Total Revenue | $2,172,441 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $314,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $314,525 |
| Contributions, gifts, grants paid | $3,831,500 |
| Total expenses and disbursements | $4,146,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,926 |
| 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 | $98,038 |
| Investments—mortgage loans | $0 |
| Investments—other | $34,787,511 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $35,097,475 |
| 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 Foundation I has awarded $2,313,784 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: TO FUND THE CHARITABLE PURPOSES OF THE FOUNDATION | $2,268,604 |
Chapel Hill, NC PURPOSE: GENERAL SUPPORT | $16,000 |
Roanoke, VA PURPOSE: GENERAL SUPPORT | $10,760 |
Richmond, VA PURPOSE: GENERAL SUPPORT | $5,780 |
ST STEPHEN'S CHURCH PURPOSE: GENERAL SUPPORT | $2,428 |
Richmond, VA PURPOSE: GENERAL SUPPORT | $1,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
P H P Inc Hopkinsville, KY | $1,933,207 | $15,725,161 |