Commonwealth Foundation I
Commonwealth Foundation I is a private foundation, based in Richmond, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $35.9M in total assets. In 2024, it awarded 1 grant totaling $1.6M. Net investment income was $160K.
Key facts about Commonwealth Foundation I
In short: Commonwealth Foundation I gave $1.6M across 1 grant in 2024 (avg $1.6M), mostly in Virginia. Source: 2024 IRS Form 990-PF.
- EIN
- 62-1668516
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,625,750
- Grants made (2024)
- 1
- Average grant
- $1,625,750
- Median grant
- $1,625,750
- Total assets
- $35,942,826
- Primary geography
- Virginia (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$35.9M
-3.8% YoY
Annual Giving
$1.6M
-35.5% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$1.6M
-35.5% YoY
Under IRS private-foundation payout rules, Commonwealth Foundation I reported a distributable amount of $1.6M for 2024 — the minimum it must pay out in qualifying distributions.
How Commonwealth Foundation I gives
- Giving fell 48% from 2021 to 2024. Method
- In 2024 it paid out 104% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.6M (2024) to $3.8M (2020). In 2024 it made 1 grant totaling $1.6M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Commonwealth Foundations ($1.6M).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $1–5M range: 5 grants of 5 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Commonwealth Foundations Richmond, VA | To Fund the Charitable Purposes of the Foundation | $1,625,750 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $35,942,826 | $37,344,732 | $38,994,858 |
| Revenue | $228,429 | $897,720 | $3,091,687 |
| Expenses | $1,630,335 | $2,547,846 | $2,637,973 |
| Qualifying Distributions | $1,625,750 | $2,520,000 | $2,475,000 |
| Net Investment Income | $160,123 | $894,833 | $3,057,353 |
| Distributable Amount | $1,558,889 | $1,706,507 | $2,158,299 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Commonwealth Foundation I is led by William H. Goodwin Jr., Director, President & Treasurer on every filing since 2020; none of the 6 officers listed in 2024 report compensation.
Officers on the 2024 filing
William H. Goodwin Jr.
Director, President & Treasurer
On filings since 2020
0.1 hrs/week
No compensation reported
Alice T. Goodwin
Director & Secretary
On filings since 2020
0.1 hrs/week
No compensation reported
Matthew T. Goodwin
Director
On filings since 2020
0.1 hrs/week
No compensation reported
Peter O. Goodwin
Director
On filings since 2020
0.1 hrs/week
No compensation reported
Sarah G. August
Director
On filings since 2020
0.1 hrs/week
No compensation reported
James A. Jones
Assistant Treasurer
On filings since 2020
0.1 hrs/week
No compensation reported
Former officers (1)
- Former: W. Hunter Goodwin III (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.
Frequently asked questions about Commonwealth Foundation I
How much does Commonwealth Foundation I give each year?
Commonwealth Foundation I gave $1.6M across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.5M across 1 grant.
How large is Commonwealth Foundation I?
Commonwealth Foundation I reported $35.9M in total assets on its 2024 IRS Form 990-PF. It paid out $1.6M in qualifying distributions that year, against a required minimum of $1.6M (roughly 5% of its investment assets).
Where does Commonwealth Foundation I operate?
Commonwealth Foundation I has awarded grants in Virginia.
What is Commonwealth Foundation I's EIN?
Commonwealth Foundation I's EIN (Employer Identification Number) is 62-1668516. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Commonwealth Foundation I by hand.
Explore Open Grants
Browse active grant opportunities in Commonwealth Foundation I's focus areas in our free grants database
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