The Alleghany Foundation is a 501(c)(3) private foundation headquartered in Covington, Virginia. The foundation provides financial support to area nonprofits and local government entities to improve the quality of life in the Alleghany Highlands region of Virginia.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$64.4M
-0.0% YoY
Annual Giving
$2.2M
-19.2% YoY
Grant Count
42
+5.0% YoY
Avg Grant Size
$53K
-23.1% YoY
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.
Mission & Focus Areas
Mission: The Alleghany Foundation seeks to become a catalyst for positive change in the Alleghany Highlands. The foundation uses its multiple forms of capital to refocus the region's aspirations and goals, build the capacity of grantees and partners, seed and support innovation, and measure and mark progress.
Vision: To be a resource for and partner with eligible organizations to make the Alleghany Highlands a civically engaged, prosperous region that builds upon its assets to produce opportunities for all its residents to succeed.
The foundation prioritizes project-support and strategic initiatives aligned with its focus areas. General operating support is considered for entities closely aligned with the foundation's strategic priorities on a case-by-case basis.
Grantmaking
Grant Types
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Geographic Focus
Where this funder awards grants
The Alleghany Foundation focuses on the Alleghany Highlands region of Virginia, with priority given to organizations serving Alleghany County, Covington, and Clifton Forge.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $64,430,949
- Total Revenues: $8,196,336
- Total Expenses: $3,617,905
As of 2023:
- Total Assets: $64.5 million
- Total Revenues: $2.1 million
- Total Expenses: $4.61 million
- Total Liabilities: $2.79 million
Endowment Origin: The foundation was established in 1995 with $35 million in proceeds from the sale of Alleghany Regional Hospital, placed in a permanent endowment to support community improvements within the former service area of the hospital.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $64,430,949 | $64,453,253 | $63,491,822 |
| Revenue | $8,196,336 | $2,101,166 | $4,798,920 |
| Expenses | $3,617,905 | $4,612,085 | $2,504,112 |
| Qualifying Distributions | $2,894,034 | $3,406,245 | $2,110,691 |
| Net Investment Income | $7,672,692 | $1,419,431 | $4,147,636 |
| Distributable Amount | $3,625,946 | $3,331,675 | $3,095,904 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
186 grants across all recorded years
Open Grants
1 open opportunity from Alleghany Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include City of Covington ($500,000), Alleghany County ($204,119), Alleghany Highlands Chamber of Commerce & Tourism ($191,374).
| Recipient | Purpose | Amount |
|---|---|---|
| ALLEGHANY COUNTY COVINGTON, VA | JACKSON RIVER SCENIC TRAIL PHASE 5 | $204,119 |
| RECOVER VIRGINIA COVINGTON, VA | IT'S WORTH IT! DROP-IN | $24,681 |
| THE ADVANCEMENT FOUNDATION BUENA VISTA, VA | SUPPORTING AND ADVANCING ENTREPRENEURSHIP & INNOVATION IN THE ALLEGHANY HIGHLANDS | $12,524 |
| BLUE RIDGE LEGAL SERVICES HARRISONBURG, VA | IMPROVING ACCESS TO CIVIL LEGAL ASSISTANCE FOR LOW-INCOME RESIDENTS OF THE ALLEGHANY HIGHLANDS | $12,159 |
| ALLEGHANY HIGHLANDS CHAMBER OF COMMERCE & TOURISM COVINGTON, VA | PHASE 3 TRAILBLAZER SIGNS | $191,374 |
| ROCKBRIDGE AREA HOSPICE LEXINGTON, VA | THE WALL THAT HEALS | $5,000 |
| COMPASS FOR LIFE COVINGTON, VA | COMPASS FOR LIFE RENOVATIONS | $51,623 |
| ALLEGHANY HIGHLANDS ARTS COUNCIL COVINGTON, VA | REDEFINING RELEVANCE 2024-2025 | $53,018 |
| ALLEGHANY HIGHLANDS TRAIL CLUB COVINGTON, VA | 2025 ALLEGHANY HIGHLANDS TRAIL CLEARING PROJECT | $22,480 |
| ALLEGHANY HIGHLANDS ARTS & CRAFTS CENTER CLIFTON FORGE, VA | 2024 SUMMER INTERN | $4,094 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARY FANT DONNAN | EXECUTIVE DIRECTOR | 40 | $201,500 |
| SUSAN W ROLLINSON PHD | BOARD PRESIDENT (JAN-JULY 2024) | 1 | — |
| KELLY DEAN MADSEN | BOARD PRESIDENT(JULY-DEC 2024),SEC/TRE | 1 | — |
| JANIE D BARNETTE | SECRETARY/TREASURER (JULY-DEC 2024) | 1 | — |
| BRANDON S CALDWELL | DIRECTOR | 1 | — |
| DR DAVID E CRANDALL | DIRECTOR | 1 | — |
| JACK A HAMMOND II | DIRECTOR | 1 | — |
| TERESA B JOHNSON | DIRECTOR | 1 | — |
| RAY LIPES | DIRECTOR | 1 | — |
| NANCY MOGA | DIRECTOR | 1 | — |
| KEVIN W PERSINGER | DIRECTOR | 1 | — |
| R MEADE SNYDER | DIRECTOR | 1 | — |
| RACHAEL THOMPSON | DIRECTOR | 1 | — |
| JAMES R ELLER | DIRECTOR (JAN-JULY 2024), EMERITIS | — | — |
| DR MICHELE BALLOU | DIRECTOR EMERITUS | — | — |
| HARRISON L FRIDLEY | DIRECTOR EMERITUS | — | — |
| JACK A HAMMOND | DIRECTOR EMERITUS | — | — |
| CHARLES W KAHLE | DIRECTOR EMERITIS | — | — |
| DR LEO T MULCAHY | DIRECTOR EMERITUS | — | — |
| LISA H SCHOPPMEYER | DIRECTOR EMERITUS | — | — |
| GEORGE C SNEAD JR | DIRECTOR EMERITUS | — | — |
| JAMES D SNYDER | DIRECTOR EMERITUS | — | — |
| LYNDA THOMPSON | DIRECTOR EMERITUS | — | — |
| ANNE L WRIGHT | DIRECTOR EMERITUS | — | — |
Recent Activity
Recent developments and announcements
The foundation sponsors summer internship programs for undergraduate and graduate students interested in the arts, tourism, community engagement, economic development, and education. Recent internship cohorts have placed students with area nonprofits in the Alleghany Highlands.
The Alleghany Foundation Announces 2023 Financials ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Alleghany Foundation fund?
**Mission:** The Alleghany Foundation seeks to become a catalyst for positive change in the Alleghany Highlands. The foundation uses its multiple forms of capital to refocus the region's aspirations and goals, build the capacity of grantees and partners, seed and support innovation, and measure and mark progress. **Vision:** To be a resource for and partner with eligible organizations to make the Alleghany Highlands a civically engaged, prosperous region that builds upon its assets to produce o…
How do I apply for a grant from Alleghany Foundation?
**Grant Types & Restrictions:** • Grants are awarded to tax-exempt organizations (IRS Section 501(c)(3)) and qualifying political subdivisions • Private foundations (IRS Section 509(a)) are not eligible • Grants are not made to individuals or religious organizations • Grants generally will not be made for debt reduction, endowment funds, or ongoing general operating expenses or existing deficits • Requests that are not of a recurring nature are given preference **Geographic Priority:** Priority…
Where does Alleghany Foundation make grants?
The Alleghany Foundation focuses on the Alleghany Highlands region of Virginia, with priority given to organizations serving Alleghany County, Covington, and Clifton Forge.
What size grants does Alleghany Foundation award?
In 2024, Alleghany Foundation awarded 42 grants totaling $2.2M — an average of about $53K per grant, based on its IRS Form 990 filings.
How much is Alleghany Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Alleghany Foundation reported a distributable amount of $3.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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Browse active grant opportunities in Alleghany Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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