Abbitt Family Foundation

NEWPORT NEWS, VA EIN: 52-1441636

The Abbitt Family Foundation is a private foundation established in Virginia in 1986. Based in Newport News, Virginia, the foundation operates as a family grantmaking entity focused on charitable giving to local and regional organizations.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$4.6M

+4.9% YoY

Annual Giving

$60K

-71.3% YoY

Grant Count

-80.0% YoY

Avg Grant Size

$30K

+43.5% YoY

Under IRS private-foundation payout rules, Abbitt Family Foundation reported a distributable amount of $300K for 2025 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Grantmaking

The foundation makes grants to charitable organizations, with recent grants including:

Grant Types

are characterized as general charitable support

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Virginia $1.5M (99%)

Colorado $8K (1%)

States

Colorado Virginia

Cities

AuroraColonial HeightsGlade HillGloucesterHamptonJamestownManassasNewport NewsNoewport NewsNorfolkRichmondRoanokeScottsvilleSmithfieldSpring GroveSurryWilliamsburgYorktown

Financial History

Multi-year comparison from IRS filings

As of Fiscal Year Ending July 2025:

Total Assets: $4,579,417
Total Revenues: $324,896
Total Expenses: $112,284
Investment Income and Dividends: $161,935
Net Gain from Sale of Non-Inventory Assets: $162,961

As of Fiscal Year Ending July 2024:

Investment Income and Dividends: $149,620

The foundation has no employees and generates revenue primarily through investment income and asset sales rather than contributions.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2025	2024	2023
Total Assets	$4,579,417	$4,366,805	$3,079,952
Revenue	$324,896	$1,532,631	$225,119
Expenses	$112,284	$245,778	$364,380
Qualifying Distributions	$60,000	$209,100	$330,350
Net Investment Income	$272,612	$1,495,953	$191,089
Distributable Amount	$300,494	$275,947	$288,340

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2025

Grant Size Distribution

119 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2025 grants, the largest include The Faison Center ($50,000), Virginia Living Museum ($10,000).

Recipient	Purpose	Amount
The Faison Center Richmond, VA	General Charitable	$50,000
Virginia Living Museum Newport News, VA	General Charitable	$10,000

Leadership & Key People

Leadership team and compensation from IRS filings

Carolyn S. Abbitt (Trustee)
Matthew M. Abbitt (Trustee)

Compensation Overview

From 2025 IRS filing

From 2025 filing

Name	Title	Hours	Compensation
Carolyn S Abbitt	Pres	0.5	—
Matthew M Abbitt	Asst S T	—	—
Stephen M Abbitt	VP S T	—	—

Location & Contact

Address: 11835 Fishing Point Drive, Suite 101, Newport News, VA 23606-2584

Phone: 757-466-0464

EIN: 52-1441636

Frequently Asked Questions

How do I apply for a grant from Abbitt Family Foundation?

The foundation makes grants to charitable organizations, with recent grants including: • The Faison Center: $50,000 (2025) • Virginia Living Museum: $10,000 (2025) • The Mariners' Museum: Grant made (2025) Grant types are characterized as general charitable support.

What size grants does Abbitt Family Foundation award?

In 2025, Abbitt Family Foundation awarded 2 grants totaling $60K — an average of about $30K per grant, based on its IRS Form 990 filings.

How much is Abbitt Family Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2025, Abbitt Family Foundation reported a distributable amount of $300K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.