Commonwealth Foundation Iii
- Assets
- $39.0m
- Revenue
- $3.1m
- Investments
- $38.9m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 05/1997
- Data as of
- 12/2022
- EIN
- 62-1668518
Organization Overview
Commonwealth Foundation Iii 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 Iii 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, Commonwealth Foundation Iii generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. 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 | |
Matthew T Goodwin Director | 0.1 | $0 | |
Peter O 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 | $61 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $3,609,383 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,091,612 |
| Total Revenue | $3,091,673 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $162,948 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $162,973 |
| Contributions, gifts, grants paid | $2,475,000 |
| Total expenses and disbursements | $2,637,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,371 |
| 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 | $38,870,950 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $38,991,359 |
| 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 Iii has awarded $2,313,784 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL SUPPORT | $1,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $1,000 |
BOY SCOUTS HEART OF VA COUNCIL PURPOSE: GENERAL SUPPORT-EAGLE SOCIETY | $1,500 |
CHESTERFIELD COUNTY PURPOSE: BLACK HISTORY MONTH PROGRAMS | $100 |
COMMONWEALTH FOUNDATIONS PURPOSE: TO FUND THE CHARITABLE PURPOSES OF THE FOUNDATION | $2,268,604 |
FAISON SCHOOL FOR AUTISM PURPOSE: GENERAL SUPPORT | $200 |