Carneal Drew Foundation
The Carneal Drew Foundation is a private foundation based in Richmond, Virginia, established in 1964. The foundation operates with no employees and maintains a focus on philanthropic grantmaking across multiple funding categories.
Key facts about Carneal Drew Foundation
In short: Carneal Drew Foundation gave $66K across 51 grants in 2025 (avg $1K), mostly in Virginia. 22% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 54-6051095
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $66,000
- Grants made (2025)
- 51
- Average grant
- $1,294
- Median grant
- $1,000
- New grantees (estimate)
- 22% first-time grantees (11 of 51, 2025)
- Total assets
- $535,203
- Primary geography
- Virginia (86% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Quick answers about Carneal Drew Foundation
How much does Carneal Drew Foundation give each year?
Carneal Drew Foundation gave $66K across 51 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $61K across 53 grants.
What is Carneal Drew Foundation's typical grant size?
Carneal Drew Foundation's median grant in 2025 was $1,000, and its average grant was $1,294, across 51 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Carneal Drew Foundation that year got $1K on average.
Where does Carneal Drew Foundation give grants?
Carneal Drew Foundation gives mostly in Virginia: 86% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were New York (6%) and Arizona (6%). The most frequent recipient cities were Richmond, VA (22 grants), Lexington, VA (3 grants), Yorktown, VA (2 grants) and Williamsburg, VA (2 grants).
Does Carneal Drew Foundation give general operating support?
Yes: 92% of Carneal Drew Foundation's 2025 grants with a stated purpose (47 of 51) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Scholarship Fund" (3 grants).
Who are Carneal Drew Foundation's largest grantees?
Carneal Drew Foundation's largest 2025 grantees include Second Baptist Church ($13,000), Tunnel to Towers Foundation ($4,000) and Turning Point USA ($4,000), according to its 2025 IRS Form 990-PF. Together they received 32% of its itemized 2025 grant dollars.
Is Carneal Drew Foundation open to new grantees?
22%
first-time grantees, 2025
In 2025, 11 of 51 grantees (22%) were first-time recipients. First grants averaged $1K; repeat grants $1K. How we count
Medians: $1K first-time, $1K repeat.
- 76% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+10%). Method
- In 2025 it paid out 101% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Carneal Drew Foundation
- How to evaluate Carneal Drew Foundation as a funder
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$535K
-2.2% YoY
Annual Giving
$66K
+9.1% YoY
Grant Count
51
-3.8% YoY
Avg Grant Size
$1K
+13.4% YoY
Under IRS private-foundation payout rules, Carneal Drew Foundation reported a distributable amount of $65K for 2025 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation primarily funds through various designated funds including:
- Operating fund
- General fund
- Scholarship fund
- Discretionary fund
- Alma Hunt fund
Primary funding areas include Education, Philanthropy, Voluntarism & Grantmaking, and Human Services, with geographic focus extending to Virginia, the District of Columbia, and New York.
Grantmaking
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Geographic Focus
Where this funder awards grants
The foundation funds organizations in Virginia, the District of Columbia, and New York.
Grant Distribution by State
Share of all 51 itemized 2025 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending September 2024:
- Total assets: $547,468
- Total revenues: $35,648
- Total expenses: $68,042
- Investment income and dividends: $28,402
- Number of employees: 0
Prior Year (FYE September 2023):
- Investment income and dividends: $28,768
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $535,203 | $547,468 | $579,862 |
| Revenue | $61,915 | $35,648 | $37,058 |
| Expenses | $74,180 | $68,042 | $62,965 |
| Qualifying Distributions | $66,000 | $60,500 | $56,500 |
| Net Investment Income | $54,132 | $28,539 | $31,131 |
| Distributable Amount | $65,208 | $60,419 | $56,578 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
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 2025
Grant Size Distribution
243 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| SECOND BAPTIST CHURCH Richmond, VA | DISCRETIONARY FUND | $13,000 |
| TUNNEL TO TOWERS FOUNDATION Staten Island, NY | GENERAL FUND | $4,000 |
| TURNING POINT USA Phoeniz, AZ | GENERAL FUND | $4,000 |
| VIRGINIA PUBLIC ACCESS PROJECT Richmond, VA | OPERATING FUND | $2,000 |
| MCSHIN FOUNDATION Richmond, VA | OPERATING FUND | $2,000 |
| FEEDMORE Richmond, VA | OPERATING FUND | $2,000 |
| VIRGINIA WAR MEMORIAL EDUC FOUNDATI Richmond, VA | OPERATING FUND | $2,000 |
| CADET FOUNDATION Yorktown, VA | GENERAL FUND | $2,000 |
| CHESAPEAKE ACADEMY Irvington, VA | SCHOLARSHIP FUND | $1,000 |
| CARMEL BAPTIST CHURCH Ruther Glen, VA | OPERATING FUND | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Carneal Drew Foundation is led by Meade A. Spotts, President on every filing since 2021; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Meade A. Spotts
President
On filings since 2021
1 hr/week
No compensation reported
Courtland Spotts IV
Vice President & Treasurer
On filings since 2021
1 hr/week
No compensation reported
William L. Graham
Secretary
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently Asked Questions
What does Carneal Drew Foundation fund?
The foundation primarily funds through various designated funds including: • Operating fund • General fund • Scholarship fund • Discretionary fund • Alma Hunt fund Primary funding areas include Education, Philanthropy, Voluntarism & Grantmaking, and Human Services, with geographic focus extending to Virginia, the District of Columbia, and New York.
How do I apply for a grant from Carneal Drew Foundation?
**Grant Activity (2024)** • Made 47 grants in the most recent fiscal year • Total giving: $60,500 • Typical award range: $250–$13,000 **Recent Grants (2024)** • Second Baptist Church of Richmond: $12,000 (Discretionary Fund) • Stephen Siller Tunnel To Towers Foundation: $4,000 (General Fund) • William and Mary Law School Association: $3,000 (Scholarship Fund) • RVA Sports Foundation: $500 (General Fund)
How much is Carneal Drew Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Carneal Drew Foundation reported a distributable amount of $65K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Carneal Drew Foundation's EIN?
Carneal Drew Foundation's EIN (Employer Identification Number) is 54-6051095. IRS Form 990 filing data is available on this page for 2021–2025.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.