Commonwealth Foundation V
Commonwealth Foundation V 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.
Commonwealth Foundation V at a glance
In short: Commonwealth Foundation V gave $1.6M across 1 grant in 2024 (avg $1.6M), mostly in Virginia. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,625,750
- -35.5% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $1,625,750
- -35.5% vs 2023
- Median grant
- $1,625,750
- Total assets
- $35,933,892
- -3.8% vs 2023
- Primary geography
- Virginia (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Commonwealth Foundation V funds
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%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
How Commonwealth Foundation V 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.
Giving History
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.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Commonwealth Foundations Richmond, VA | To Fund the Charitable Purposes of the Foundation | $1,625,750 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $35,933,892 | $227,917 | $1,630,335 | $1,625,750 | 1 | $1,625,750 | $159,562 | $1,558,448 |
| 2023 | $37,336,310 | $897,609 | $2,547,915 | $2,520,000 | 1 | $2,520,000 | $894,720 | $1,706,097 |
| 2022 | $38,986,616 | $3,091,660 | $2,637,973 | $2,475,000 | 1 | $2,475,000 | $3,057,325 | $2,157,893 |
| 2021 | $38,532,929 | $6,620,642 | $3,178,025 | $3,115,000 | 1 | $3,115,000 | $6,472,394 | $3,008,929 |
| 2020 | $35,090,312 | $2,172,439 | $4,146,025 | $3,831,500 | 1 | — | $2,045,497 | $2,815,345 |
Under IRS private-foundation payout rules, Commonwealth Foundation V reported a distributable amount of $1.6M for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Commonwealth Foundation V 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 V
How much does Commonwealth Foundation V give each year?
Commonwealth Foundation V 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 V?
Commonwealth Foundation V 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 V operate?
Commonwealth Foundation V has awarded grants in Virginia.
What is Commonwealth Foundation V's EIN?
Commonwealth Foundation V's EIN (Employer Identification Number) is 62-1668521. 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.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Commonwealth Foundation V funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
- Nixa Affiliate Grantmaking Program Up to US $10,000 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in Commonwealth Foundation V's focus areas in our free grants database
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