Alleghany Foundation
The Alleghany Foundation is a private foundation based in Covington, Virginia, that provides financial support to area nonprofits and local government entities to improve quality of life in the Alleghany Highlands. Its 2024 filing states that it funds other organizations rather than conducting charitable activities itself.
Alleghany Foundation at a glance
In short: Alleghany Foundation gave $2.2M across 42 grants in 2024 (avg $53K), mostly in Virginia. 23% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $2,243,418
- -19.2% vs 2023
- Grants made (2024)
- 42
- +5.0% vs 2023
- Average grant
- $53,415
- -23.1% vs 2023
- Median grant
- $22,378
- Total assets
- $64,430,949
- -0.0% vs 2023
- New grantees (estimate)
- 23% first-time grantees (5 of 22, 2024; small sample)
- Primary geography
- Virginia (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Alleghany Foundation
- How to Apply
-
The Foundation accepts electronic applications year-round through its online system; paper applications are not accepted. Applicants should review the application guidelines and submit materials through the online application. Foundation staff initially review submissions for guideline compliance and completeness and may request additional information. The Foundation says decisions are communicated within three months of submission. Eligible applicants include 501(c)(3) organizations that are not private foundations and qualifying political subdivisions. Grants are not made to individuals or religious organizations. The Foundation generally does not fund debt reduction, endowments, ongoing general operating expenses, or existing deficits; general operating support may be considered case by case for organizations closely aligned with its strategic priorities. It gives preference to non-recurring requests and gives special consideration to proposals that leverage public or other ongoing financial support.
- Review Cycle
- Applications are accepted year-round.
- Deadline
- Applications are accepted year-round.
- Contact
Application contact: Mary Fant Donnan Executive Director
Mailing address: Post Office Box 1176, Covington, VA 24426
Phone: (540) 962-0970
Website: https://alleghanyfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Alleghany Foundation
Who Alleghany Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was City of Covington ($500K). Together the top 10 received $2.0M.
Grant Size Distribution
186 grants across all recorded years
The most common grant size was under $50K: 125 grants of 186 (67%).
Geographic Focus
Where this funder awards grants
The Foundation gives priority to organizations serving Alleghany County, Covington, and Clifton Forge, Virginia, with an emphasis on new and different endeavors that improve community quality of life. Its filing says grants are generally awarded only to organizations within that geographic area.
Grant Distribution by State
Share of 2024 grant dollars across all 42 itemized grants.
States
Cities
Is Alleghany Foundation open to new grantees?
23%
first-time grantees, 2024
In 2024, 5 of 22 grantees (23%) were first-time recipients. With only 22 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $69K; repeat grants $112K. How we count
Medians: $52K first-time, $38K repeat.
- 77% of 2024 grantees were also funded in 2023. Method
- Giving grew 25% from 2021 to 2024. Method
- In 2024 it paid out 80% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.2M (2020) to $2.8M (2023). In 2024 it made 42 grants totaling $2.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| City of Covington Covington, VA | Casey Field/Boodie Albert Stadium Phase III Construction | $500,000 |
| Alleghany County Covington, VA | Jackson River Scenic Trail Phase 5 | $204,119 |
| Alleghany Highlands Chamber of Commerce & Tourism Covington, VA | Phase 3 Trailblazer Signs | $191,374 |
| The Masonic Theatre Preservation Foundation Clifton Forge, VA | General Operating Support and Building Maintenance | $184,119 |
| Alleghany Highlands Chamber of Commerce and Tourism Covington, VA | Operational Funds & Program Support 2021-2024 | $112,861 |
| Covington City Public Schools Low Moor, VA | Joint School Communications Specialist | $107,127 |
| Alleghany Highlands Chamber of Commerce and Tourism Covington, VA | Tourism Marketing of the Alleghany Highlands 2023-2025 | $101,349 |
| Alleghany Highlands Arts Council Covington, VA | Performing Arts & Community Enrichment 2023-2024 | $85,086 |
| Alleghany Highlands YMCA Covington, VA | YMCA Learning Centers Transportation | $54,247 |
| Alleghany Highlands Arts Council Covington, VA | Redefining Relevance 2024-2025 | $53,018 |
Ready to take the next step with Alleghany Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $64,430,949 | $8,196,336 | $3,617,905 | $2,243,418 | 42 | $2,894,034 | $7,672,692 | $3,625,946 |
| 2023 | $64,453,253 | $2,101,166 | $4,612,085 | $2,778,025 | 40 | $3,406,245 | $1,419,431 | $3,331,675 |
| 2022 | $63,491,822 | $4,798,920 | $2,504,112 | $1,567,900 | 38 | $2,110,691 | $4,147,636 | $3,095,904 |
| 2021 | $55,551,953 | $7,941,608 | $3,937,402 | $1,794,771 | 34 | $2,308,077 | $7,551,193 | $3,380,340 |
| 2020 | $55,220,816 | $1,742,548 | $2,221,726 | $1,154,172 | 32 | — | $1,362,356 | $4,406,997 |
Under IRS private-foundation payout rules, Alleghany Foundation reported a distributable amount of $3.6M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s mission is to refocus regional aspirations and goals, build grantee and partner capacity, support innovation, and measure progress. Its stated strategic funding areas are Economic Transformation, Educational Excellence, Health and Wellness, Community Capacity, and Leadership and Civic Vitality. It also identifies the VISION 2025 Initiative, a community-led effort for economic revitalization in the Alleghany Highlands.
The Foundation supports eligible nonprofits and local government entities. Examples of grantees’ work include the Rockbridge Area Hospice’s care for people with serious illness and their families, the Clifton Forge Company’s fine and applied arts learning opportunities, and the Alleghany Historical Society’s work sharing local history and helping restore historic resources.
Grantmaking
In 2024, the Foundation reported 42 grants totaling $2,243,418. Grants ranged from $2,540 to $500,000, with a median of $22,378. All reported grant dollars went to recipients in Virginia.
Among the largest 2024 awards were $500,000 to the City of Covington for Casey Field/Boodie Albert Stadium Phase III construction; $204,119 to Alleghany County for Jackson River Scenic Trail Phase 5; $191,374 to the Alleghany Highlands Chamber of Commerce & Tourism for Phase 3 Trailblazer signs; and $184,119 to the Masonic Theatre Preservation Foundation for general operating support and building maintenance. Other awards included $107,127 to Covington City Public Schools for a joint school communications specialist and $85,086 to the Alleghany Highlands Arts Council for performing arts and community enrichment.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Mary Fant Donnan as executive director. Listed board leadership included Susan W. Rollinson, PhD, president from January through July 2024, and Kelly Dean Madsen, president from July through December 2024 and secretary/treasurer. Janie D. Barnette is listed as secretary/treasurer from July through December 2024. Directors listed were Brandon S. Caldwell, Dr. David E. Crandall, Jack A. Hammond II, Teresa B. Johnson, Ray Lipes, and Nancy Moga.
Alleghany Foundation is led by Mary Fant Donnan, Executive Director on every filing since 2020; 1 of 24 officers listed in 2024 is compensated.
Officers on the 2024 filing
Mary Fant Donnan
Executive Director
On filings since 2020
40 hrs/week
$167K (2020) → $202K (2024)
Kelly Dean Madsen
Board President, Secretary & Treasurer
Director → Secretary & Treasurer, 2021
Secretary & Treasurer → Board President, Secretary & Treasurer, 2024
On filings since 2020
1 hr/week
No compensation reported
Susan W. Rollinson PhD
Board President
Secretary, Treasurer & Director → Board President, 2021
On filings since 2020
1 hr/week
No compensation reported
Charles W. Kahle
Director Emeritis
On filings since 2020
No compensation reported
David E. Crandall
Director
On filings since 2020
1 hr/week
No compensation reported
James R. Eller
Director & Emeritis
Director Emeritus → Director, 2021
Director → Director & Emeritis, 2024
On filings since 2020
No compensation reported
R. Meade Snyder
Director
Board President → Director, 2021
On filings since 2020
1 hr/week
No compensation reported
Brandon S. Caldwell
Director
On filings since 2021
1 hr/week
No compensation reported
Jack A. Hammond II
Director
On filings since 2021
1 hr/week
No compensation reported
Teresa B. Johnson
Director
On filings since 2021
1 hr/week
No compensation reported
Nancy Moga
Director
On filings since 2022
1 hr/week
No compensation reported
Rachael Thompson
Director
On filings since 2022
1 hr/week
No compensation reported
Ray Lipes
Director
On filings since 2022
1 hr/week
No compensation reported
Kevin W. Persinger
Director
New on the 2024 filing
1 hr/week
No compensation reported
Anne L. Wright
Director Emeritus
Director Emeritis → Director Emeritus, 2022
On filings since 2020
No compensation reported
George C. Snead Jr.
Director Emeritus
On filings since 2020
No compensation reported
Harrison L. Fridley
Director Emeritus
On filings since 2020
No compensation reported
Jack A. Hammond
Director Emeritus
On filings since 2020
No compensation reported
James D. Snyder
Director Emeritus
On filings since 2020
No compensation reported
Janie D. Barnette
Secretary & Treasurer
Director → Secretary & Treasurer, 2024
On filings since 2020
1 hr/week
No compensation reported
Leo T. Mulcahy
Director Emeritus
Director → Director Emeritus, 2021
On filings since 2020
No compensation reported
Lisa H. Schoppmeyer
Director Emeritus
Director → Director Emeritus, 2022
On filings since 2020
No compensation reported
Lynda Thompson
Director Emeritus
On filings since 2020
No compensation reported
Michele Ballou
Director Emeritus
On filings since 2020
No compensation reported
Former officers (4)
- Former: George J. Kostel (2020–2023) — Director Emeritus
- Former: Martha M. Atherholt (2020–2021) — Director
- Former: Denise J. Pillow (2020) — Director
- Former: Marie W. Fitzpatrick (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $202K, to Mary Fant Donnan (Executive Director).
Frequently asked questions about Alleghany Foundation
How much does Alleghany Foundation give each year?
Alleghany Foundation gave $2.2M across 42 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.8M across 40 grants.
What is Alleghany Foundation's typical grant size?
Alleghany Foundation's median grant in 2024 was $22,378, and its average grant was $53,415, across 42 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Alleghany Foundation that year got $69K on average.
Where does Alleghany Foundation give grants?
Alleghany Foundation gives mostly in Virginia: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Covington, VA (20 grants), Clifton Forge, VA (13 grants), Lexington, VA (2 grants) and Harrisonburg, VA (2 grants).
Does Alleghany Foundation give general operating support?
Yes: 10% of Alleghany Foundation's 2024 grants with a stated purpose (4 of 42) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Alleghany Foundation's largest grantees?
Alleghany Foundation's largest 2024 grantees include City of Covington ($500,000), Alleghany Highlands Chamber of Commerce & Tourism ($415,910 across 4 grants) and The Masonic Theatre Preservation Foundation ($259,005 across 5 grants), according to its 2024 IRS Form 990-PF. Together they received 52% of its itemized 2024 grant dollars.
How large is Alleghany Foundation?
Alleghany Foundation reported $64.4M in total assets on its 2024 IRS Form 990-PF. It paid out $2.9M in qualifying distributions that year, against a required minimum of $3.6M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Alleghany Foundation fund?
The Foundation’s mission is to refocus regional aspirations and goals, build grantee and partner capacity, support innovation, and measure progress. See mission & focus areas ↑
How do I apply for a grant from Alleghany Foundation?
The Foundation accepts electronic applications year-round through its online system; paper applications are not accepted. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Alleghany Foundation's EIN?
Alleghany Foundation's EIN (Employer Identification Number) is 54-1027400. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Alleghany Foundation funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/alleghany-foundation-morg_318133f882b4454884b0d0fca2ca7e33
BibTeX
@misc{grantable_541027400_2026,
author = {{Grantable}},
title = {{Alleghany Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/alleghany-foundation-morg_318133f882b4454884b0d0fca2ca7e33},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Alleghany Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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