Carmax Foundation
The CarMax Foundation is a private foundation based in Richmond, Virginia. It promotes causes supported by CarMax associates and invests in communities where they live and work, through associate-led giving and volunteering as well as grants to nonprofits.
Carmax Foundation at a glance
In short: Carmax Foundation gave $4.8M across 6 grants in 2026 (avg $807K), mostly in Delaware. Source: 2026 IRS Form 990-PF.
- Annual giving (2026)
- $4,841,701
- -27.5% vs 2025
- Grants made (2026)
- 6
- -45.5% vs 2025
- Average grant
- $806,950
- +32.9% vs 2025
- Median grant
- $285,350
- Total assets
- $6,266,630
- -5.7% vs 2025
- Primary geography
- Delaware (70% of itemized 2026 grant dollars)
- Latest 990 filing
- Form 990-PF, 2026 View filing
Data from IRS Form 990-PF, 2026; updated October 2026.
How to apply to Carmax Foundation
- How to Apply
-
The foundation’s 2025 filing directs organizations to its website for application information and says applications are accepted online only, not by mail. It says deadlines are available on the website. The website describes the Home Office Grant Program for organizations providing services in the Richmond area, with applications in early fall. Its Home Office Giving page says eligible organizations must serve underserved youth and/or adults in specified Richmond-area localities, align with the foundation’s focus areas, and demonstrate need. The website lists exclusions including vehicle-donation requests, business ventures or loan or debt-retirement requests, capital campaigns, endowments, event sponsorships, and scholarships.
- Contact
Application contact: Carmax Foundation Manager
Mailing address: 12800 Tuckahoe Creek Parkway, Richmond, VA 23238
Phone: (804) 747-0422
Email: kmxfoundation@carmax.com
Website: https://foundation.carmax.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Carmax Foundation
Who Carmax Foundation funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2026
The largest 2026 recipient was American Online Giving Foundation ($3.4M). Together the top 6 received $4.8M.
Grant Size Distribution
194 grants across all recorded years
The most common grant size was under $50K: 162 grants of 194 (84%).
Geographic Focus
Where this funder awards grants
The foundation’s programs include local giving in the Greater Richmond, Virginia area, regional giving to nonprofits serving CarMax markets—with special attention to Atlanta, Georgia—and national giving to nonprofits with a national footprint. Its 2026 grants went to recipients in Delaware, the District of Columbia, Georgia, Florida, and California. The filing reports that those states accounted for 70%, 17%, 11%, 1%, and 0% of grant dollars, respectively.
Grant Distribution by State
Share of 2026 grant dollars across all 6 itemized grants.
States
Cities
How Carmax Foundation gives
- Giving fell 35% from 2023 to 2026. Method
- In 2026 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2026, annual grant giving ranged from $4.8M (2026) to $7.5M (2023). In 2026 it made 6 grants totaling $4.8M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| American Online Giving Foundation Newark, DE | Donations disbursed to qualified 501c3 nonprofits reflecting as part of employee choice giving programs | $3,396,861 |
| Kaboom Washington, DC | Building Playgrounds in Underserved Communities | $840,000 |
| Points of Light Atlanta, GA | Connect Carmax Associates to Volunteer Opportunities | $520,700 |
| Emergency Assistance Foundation West Palm Beach, FL | To Help Employees Who Are Facing Financial Hardship | $50,000 |
| Junior Achievement of Georgia Atlanda, GA | Support Programs That Drive Financial Literacy | $25,000 |
| Foster Love (Together We Rise) Brea, CA | Resources for Youth in Foster Care | $9,140 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2026 | $6,266,630 | $5,064,035 | $5,439,490 | $4,841,701 | 6 | $5,432,178 | $262,223 | $316,622 |
| 2025 | $6,642,085 | $5,992,582 | $7,328,565 | $6,678,283 | 11 | $7,322,196 | $391,213 | $378,562 |
| 2024 | $7,978,068 | $10,080,818 | $7,910,898 | $7,234,486 | 5 | $7,894,240 | $377,926 | $410,370 |
| 2023 | $5,775,648 | $7,627,457 | $8,192,178 | $7,465,717 | 76 | $8,166,582 | $128,161 | $539,819 |
| 2022 | $6,340,369 | $9,797,991 | $7,431,057 | $7,001,326 | 96 | $7,431,057 | $1,584 | $297,918 |
| 2021 | $3,973,435 | $9,417,378 | $5,751,891 | $5,430,012 | 1,132 | — | $1,974 | $80,555 |
Under IRS private-foundation payout rules, Carmax Foundation reported a distributable amount of $317K for 2026 — 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 promote causes supported by CarMax associates to impact the communities where they live and work. Its website describes the Volunteer Team-Builder program as its primary way of investing in local communities: when five or more associates volunteer together with a qualifying nonprofit, the organization may be eligible for a donation. Participation is determined by each CarMax location.
The foundation also supports high-quality programs in health and wellness, education and workforce success, and resilient communities. Its Home Office Giving Program is intended for organizations serving the Greater Richmond area, including underserved youth and/or adults in Richmond, Chesterfield, Goochland, or Henrico. Listed activities include workforce readiness, financial literacy, health education, food and nutrition access, housing, and neighborhood revitalization.
The foundation’s 2025 filing describes regional grants to nonprofits serving CarMax markets, with special attention to Atlanta, Georgia, and national giving to nonprofits with a national footprint that align with its focus areas. Among the 2026 grantees, Junior Achievement of Georgia says its mission is to teach financial literacy through experiential learning to middle school children in the Atlanta area. Emergency Assistance Foundation says it provides financial assistance after disasters and personal hardships through employee relief funds and a disaster-response fund.
Grantmaking
In filing year 2026, the foundation reported six itemized grants totaling $4,841,701. Grant amounts ranged from $9,140 to $3,396,861, with a median of $285,350. The largest grants were $3,396,861 to American Online Giving Foundation for donations to qualified nonprofits through employee-choice giving programs; $840,000 to KABOOM! for playgrounds in underserved communities; and $520,700 to Points of Light to connect CarMax associates with volunteer opportunities. Other listed grants included $50,000 to Emergency Assistance Foundation, $25,000 to Junior Achievement of Georgia, and $9,140 to Foster Love (Together We Rise).
The website also describes a KABOOM! Alumni Grant Program for qualifying nonprofit partners previously awarded a KABOOM! playground through the CarMax Foundation partnership. Alumni may request funds for playground improvements, maintenance, or repairs; applications are reviewed on a rolling basis, with priority for urgent repairs and maintenance.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2026 filing lists Jeff Hall as president, Mathew Jewett as treasurer, and Jessica Kirkland and David Gustin as secretaries, with Kirkland serving through September 2025 and Gustin from October 2025. Directors listed are Alex Malcolm, Ann Yauger (through August 2025), Ashwin Kopparthi (through February 2026), Nicole Brown, Sarah Brown, and Thomas Squire (through February 2026).
Carmax Foundation is led by Jeff Hall, President since 2025 (on filings since 2023); none of the 15 officers listed in 2026 report compensation.
Officers on the 2026 filing
Jeff Hall
President
Director → President, 2025
On filings since 2023
2 hrs/week
No compensation reported
Ashwin Kopparthi
Director
On filings since 2024
2 hrs/week
No compensation reported
Sarah Brown
Director
On filings since 2024
2 hrs/week
No compensation reported
Thomas Squire
Director
On filings since 2024
2 hrs/week
No compensation reported
Alex Malcolm
Director
On filings since 2025
2 hrs/week
No compensation reported
Ann Yauger
Director
On filings since 2025
2 hrs/week
No compensation reported
Nicole Brown
Director
On filings since 2025
2 hrs/week
No compensation reported
Debbie Sharp
Director
New on the 2026 filing
2 hrs/week
No compensation reported
Erica Cain
Director
New on the 2026 filing
2 hrs/week
No compensation reported
Eva James
Director
New on the 2026 filing
2 hrs/week
No compensation reported
Jason Bazan
Director
New on the 2026 filing
2 hrs/week
No compensation reported
Melanie Murphy
Director
New on the 2026 filing
2 hrs/week
No compensation reported
Jessica Kirkland
Secretary
On filings since 2024
2 hrs/week
No compensation reported
Mathew Jewett
Treasurer
On filings since 2024
2 hrs/week
No compensation reported
David Gustin
Secretary
New on the 2026 filing
2 hrs/week
No compensation reported
Former officers (23)
- Former: Jason Ancarrow (2021–2025) — Director
- Former: Eric Martin (2022–2025) — Director
- Former: Donna Cohen (2023–2025) — Director
- Former: Richard Buscher (2023–2025) — Director
- Former: Chris Sloan (2024–2025) — Director
- Former: Theresia Radaelli (2025) — Director
- Former: Ashley Cullum (2021–2024) — Secretary
- Former: Jeff Jackson (2022–2024) — Director
- Former: Karen Holt (2022–2024) — Director
- Former: Mark Collier (2022–2024) — Director
- Former: Meghan Garrant (2023–2024) — Director
- Former: Bryant Spann (2021–2023) — Director
- Former: Gautam Puranik (2021–2023) — Director
- Former: Jill Livesay (2021–2023) — Treasurer
- Former: Joe Mulvain (2021–2023) — Director
- Former: Ron Finlan (2021–2023) — Director
- Former: Rosey Sanders (2021–2023) — Director
- Former: Jamie Dejesus (2023) — Director
- Former: Jaime Dejesus (2021–2022) — Director
- Former: Andrew Thalken (2021) — Director
- Former: Angela Bisland (2021) — Director
- Former: Eileen Yost (2021) — Treasurer
- Former: Matt Aman (2021) — Director
Data from IRS Form 990 filings, 2021–2026. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Carmax Foundation
How much does Carmax Foundation give each year?
Carmax Foundation gave $4.8M across 6 grants in 2026, according to its 2026 IRS Form 990-PF. In 2025 it gave $6.7M across 11 grants.
What is Carmax Foundation's typical grant size?
Carmax Foundation's median grant in 2026 was $285,350, and its average grant was $806,950, across 6 grants on its 2026 IRS Form 990-PF.
Where does Carmax Foundation give grants?
Carmax Foundation gives mostly in Delaware: 70% of the grant dollars itemized on its 2026 IRS Form 990-PF went to recipients there. The next largest states were District of Columbia (17%) and Georgia (11%).
Does Carmax Foundation give general operating support?
Not in 2026: none of the 6 grants with a stated purpose on Carmax Foundation's 2026 IRS Form 990-PF were described as general or operating support.
Who are Carmax Foundation's largest grantees?
Carmax Foundation's largest 2026 grantees include American Online Giving Foundation ($3,396,861), Kaboom ($840,000) and Points of Light ($520,700), according to its 2026 IRS Form 990-PF. Together they received 98% of its itemized 2026 grant dollars.
How large is Carmax Foundation?
Carmax Foundation reported $6.3M in total assets on its 2026 IRS Form 990-PF. It paid out $5.4M in qualifying distributions that year, against a required minimum of $317K (roughly 5% of its investment assets).
What does Carmax Foundation fund?
The foundation’s mission is to promote causes supported by CarMax associates to impact the communities where they live and work. See mission & focus areas ↑
How do I apply for a grant from Carmax Foundation?
The foundation’s 2025 filing directs organizations to its website for application information and says applications are accepted online only, not by mail. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Carmax Foundation's EIN?
Carmax Foundation's EIN (Employer Identification Number) is 38-3681796. IRS Form 990 filing data is available on this page for 2021–2026.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS June 25, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS July 14, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS July 14, 2023)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS July 2, 2024)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS June 16, 2025)
- Added Form 990-PF for fiscal year 2026 (received by the IRS June 22, 2026)
- IRS filings on file for fiscal years 2021–2025
Live grants for the work Carmax Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Carmax Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Carmax Foundation funder profile. GrantGraph. Retrieved October 24, 2026, from https://grantable.co/funders/carmax-foundation-morg_38661c0775cd43b09aa429d9ceae4c99
BibTeX
@misc{grantable_383681796_2026,
author = {{Grantable}},
title = {{Carmax Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/carmax-foundation-morg_38661c0775cd43b09aa429d9ceae4c99},
note = {Accessed 2026-10-24. 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 Carmax 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.
Carmax Foundation down — hundreds of funders to go?