Commonwealth Foundation I is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, 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 grants totaling $1.6M. Net investment income was $160K.
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.
About Commonwealth Foundation I
Based on IRS filings
Commonwealth Foundation I is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, 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 grants totaling $1.6M. Net investment income was $160K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
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 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Commonwealth Foundations ($1,625,750).
| Recipient | Purpose | Amount |
|---|---|---|
| COMMONWEALTH FOUNDATIONS RICHMOND, VA | TO FUND THE CHARITABLE PURPOSES OF THE FOUNDATION | $1,625,750 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WILLIAM H GOODWIN JR | DIRECTOR, PRESIDENT/TREASU | 0.1 | — |
| ALICE T GOODWIN | DIRECTOR, SECRETARY | 0.1 | — |
| MATTHEW T GOODWIN | DIRECTOR | 0.1 | — |
| PETER O GOODWIN | DIRECTOR | 0.1 | — |
| SARAH G AUGUST | DIRECTOR | 0.1 | — |
| JAMES A JONES | ASSISTANT TREASURER | 0.1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Commonwealth Foundation I?
Commonwealth Foundation I is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RICHMOND, VA. It holds $35.9M in total assets as of 2024.
How large is Commonwealth Foundation I?
As of 2024, Commonwealth Foundation I holds $35.9M in total assets with $228K in annual revenue. It awarded 1 grants totaling $1.6M in 2024.
Where does Commonwealth Foundation I operate?
Commonwealth Foundation I has awarded grants in Virginia.
What size grants does Commonwealth Foundation I award?
In 2024, Commonwealth Foundation I awarded 1 grants totaling $1.6M — an average of about $1.6M per grant, based on its IRS Form 990 filings.
How much is Commonwealth Foundation I required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Commonwealth Foundation I reported a distributable amount of $1.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Commonwealth Foundation I's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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