Commonwealth Foundations

RICHMOND, VA EIN: 46-5103846 Website

Commonwealth Foundations is a private family foundation based in Richmond, Virginia. Established in 2016, it operates as an independent 501(c)(3) organization focused on grantmaking and philanthropic activities.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$219K

-89.2% YoY

Annual Giving

$8.3M

+3.1% YoY

Grant Count

-4.6% YoY

Avg Grant Size

$100K

+8.1% YoY

Under IRS private-foundation payout rules, Commonwealth Foundations reported a distributable amount of $19K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's primary funding areas include:

Education
Philanthropy, Voluntarism & Grantmaking
Human Services

The foundation primarily provides general support to its grantees.

Grantmaking

Commonwealth Foundations does not accept unsolicited applications. The foundation operates on an invite-only basis, selecting grantees rather than accepting proposals.

Grant Range

$1,000 to $3,262,500

How to Apply

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Geographic Focus

Where this funder awards grants

The foundation primarily funds organizations in Virginia, with some activity in South Carolina and Florida.

Grant Distribution by State

Virginia $24.6M (89%)

North Carolina $2.4M (9%)

Florida $215K (1%)

South Carolina $125K (0%)

Wyoming $87K (0%)

California $50K (0%)

Pennsylvania $50K (0%)

Massachusetts $30K (0%)

+9 more states

States

California Colorado Connecticut District of Columbia Florida Georgia Massachusetts Missouri North Carolina New York Ohio Oregon Pennsylvania South Carolina Utah Virginia Wyoming

Cities

Big IslandBlacksburgBostonBrunswickCanton CenterCarmelCaryChagrin FallsChapel HillCharlestonCharlottesvilleChesapeakeClearwaterEastonEugeneFranklinGlen AllenGoochlandHenricoHilton Head

Financial History

Multi-year comparison from IRS filings

Commonwealth Foundations (EIN 46-5103846):

Total assets (2024): $219,096
Total revenues (2024): $6,503,000
Total expenses (2024): $8,313,747
Number of employees: 0

Commonwealth Foundation III (EIN 62-1668518):

Total assets (2024): $35,939,516
Total giving (2024): $1,625,750
Total revenues (2024): $228,679
Total expenses (2024): $1,630,335

Commonwealth Foundation V (EIN 62-1668521):

Total assets (2024): $35,933,892
Total giving (2024): $1,625,750

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$219,096	$2,029,843	$14,540
Revenue	$6,503,000	$10,080,000	$9,900,000
Expenses	$8,313,747	$8,064,697	$10,704,470
Qualifying Distributions	$8,313,747	$8,064,697	$10,704,470
Net Investment Income	—	—	—
Distributable Amount	$19,021	$12,318	$16,130

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 2024

Grant Size Distribution

250 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Mary Baldwin University ($850,000), Anna Julia Cooper Episcopal School ($575,000), Cav Futures Foundation ($328,000).

Recipient	Purpose	Amount
AMERICAN DIABETES ASSOCIATION CHESAPEAKE, VA	GENERAL SUPPORT	$2,500
AMERICAN HEART ASSOCIATION GLEN ALLEN, VA	GENERAL SUPPORT	$2,500
AMERICAN RED CROSS RICHMOND, VA	GENERAL SUPPORT	$100,000
AN ACHIEVABLE DREAM INC NEWPORT NEWS, VA	GENERAL SUPPORT	$10,000
ANNA JULIA COOPER EPISCOPAL SCHOOL RICHMOND, VA	GENERAL SUPPORT	$575,000
ASK RICHMOND, VA	GENERAL SUPPORT	$2,500
BETTY FORD ALPINE GARDENS VAIL, CO	GENERAL SUPPORT	$1,000
BOLLING HAXALL HOUSE FOUNDATION RICHMOND, VA	GENERAL SUPPORT	$2,000
BON SECOURS RICHMOND HEALTH CARE FNDTN RICHMOND, VA	GENERAL SUPPORT	$8,000
BSA TROOP 444 RICHMOND, VA	GENERAL SUPPORT	$1,000

Leadership & Key People

Leadership team and compensation from IRS filings

Theodore L Chandler Jr - Principal Officer (Commonwealth Foundation I)
William H Goodwin - Director, President and Treasurer (Commonwealth Foundation III)

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
ALICE T GOODWIN	DIRECTOR	0.1	—
WILLIAM H GOODWIN JR	DIRECTOR, PRESIDENT/TREASURER	0.1	—
JAMES A JONES	ASSISTANT TREASURER	0.1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Commonwealth Foundations fund?

The foundation's primary funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services The foundation primarily provides general support to its grantees.

How do I apply for a grant from Commonwealth Foundations?

**Grant Activity:** • Made 75 grants in 2024 • Total giving in 2024: $8,304,722 • Grant range: $1,000 to $3,262,500 • Median grant amount: $8,000 **Recent Notable Grants (2024):** • Virginia Tech Foundation: $1,260,000 (General Support) • Mary Baldwin University: $850,000 (General Support) • Anna Julia Cooper School: $575,000 (General Support) **Application Process:** Commonwealth Foundations does not accept unsolicited applications. The foundation operates on an invite-only basis, selecting gr…

Where does Commonwealth Foundations make grants?

The foundation primarily funds organizations in Virginia, with some activity in South Carolina and Florida.

What size grants does Commonwealth Foundations award?

In 2024, Commonwealth Foundations awarded 83 grants totaling $8.3M — an average of about $100K per grant, based on its IRS Form 990 filings.

How much is Commonwealth Foundations required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Commonwealth Foundations reported a distributable amount of $19K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.