Commonwealth Foundations
Commonwealth Foundations is a private foundation based in Richmond, Virginia. In filing year 2024, it reported 83 grants totaling $8,304,722, with most grant dollars going to recipients in Virginia.
Commonwealth Foundations at a glance
In short: Commonwealth Foundations gave $8.3M across 83 grants in 2024 (avg $100K), mostly in Virginia. 16% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $8,304,722
- +3.1% vs 2023
- Grants made (2024)
- 83
- -4.6% vs 2023
- Average grant
- $100,057
- +8.1% vs 2023
- Median grant
- $5,000
- Total assets
- $219,096
- -89.2% vs 2023
- New grantees (estimate)
- 16% first-time grantees (13 of 83, 2024)
- Primary geography
- Virginia (95% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Commonwealth Foundations
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations.
- Contact
Mailing address: 800 E Canal Street 1900, Richmond, VA 23219
Phone: (804) 643-4200
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Commonwealth Foundations funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was VCU School of Engineering Foundation ($3.3M). Together the top 10 received $7.3M.
Organizations only. It also paid 1 grant to individuals ($48,000), which are not listed by name.
Grant Size Distribution
428 grants across all recorded years
The most common grant size was under $50K: 316 grants of 428 (74%).
Geographic Focus
Where this funder awards grants
In 2024, recipients in Virginia received 95% of grant dollars. Recipients in North Carolina received 3%, and those in Pennsylvania received 1%. Florida and New York each accounted for 0% as reported.
Grant Distribution by State
Share of 2024 grant dollars across all 83 itemized grants.
States
Cities
Is Commonwealth Foundations open to new grantees?
16%
first-time grantees, 2024
In 2024, 13 of 83 grantees (16%) were first-time recipients. First grants averaged $18K; repeat grants $115K. How we count
Medians: $5K first-time, $6K repeat.
- 77% of 2024 grantees were also funded in 2023. Method
- Giving fell 30% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $8.1M (2023) to $15.4M (2020). In 2024 it made 83 grants totaling $8.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| VCU School of Engineering Foundation Richmond, VA | General Support | $3,262,500 |
| Virginia Tech Foundation Blacksburg, VA | General Support | $1,260,000 |
| Mary Baldwin University Staunton, VA | General Support | $850,000 |
| Anna Julia Cooper Episcopal School Richmond, VA | General Support | $575,000 |
| CAV Futures Foundation Charlottesville, VA | General Support | $328,000 |
| Up RVA Richmond, VA | General Support | $312,300 |
| Washington & Lee University Lexington, VA | General Support | $278,572 |
| Kenan-Flagler Business School Foundation Chapel Hill, NC | General Support | $216,000 |
| Sports Backers Richmond, VA | General Support | $130,000 |
| American Red Cross Richmond, VA | General Support | $100,000 |
Ready to take the next step with Commonwealth Foundations?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2024 | $219,096 | $6,503,000 | $8,313,747 | $8,304,722 | 83 | $8,313,747 | $19,021 |
| 2023 | $2,029,843 | $10,080,000 | $8,064,697 | $8,056,172 | 87 | $8,064,697 | $12,318 |
| 2022 | $14,540 | $9,900,000 | $10,704,470 | $10,690,440 | 75 | $10,704,470 | $16,130 |
| 2021 | $819,010 | $12,460,000 | $11,796,453 | $11,782,698 | 92 | $11,796,453 | $4,886 |
| 2020 | $155,463 | $15,326,000 | $15,385,209 | $15,370,072 | 91 | — | $6,189 |
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 October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants included general support for educational institutions and other charitable organizations. For example, UP RVA says it aims to bridge the gap between children with limited economic resources in Richmond and independent schools, and Mary Baldwin University describes its mission as empowering leaders through undergraduate, graduate, and professional education.
Grantmaking
In 2024, the foundation made 83 grants totaling $8,304,722. Grant amounts ranged from $250 to $3,262,500, and the median grant was $5,000. The largest grants included $3,262,500 to VCU School of Engineering Foundation, $1,260,000 to Virginia Tech Foundation, $850,000 to Mary Baldwin University, $575,000 to Anna Julia Cooper Episcopal School, and $328,000 to CAV Futures Foundation. Each of these grants was listed for general support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Alice T Goodwin as director, William H Goodwin Jr as director and president/treasurer, and James A Jones as assistant treasurer.
Commonwealth Foundations is led by William H. Goodwin Jr., Director, President & Treasurer on every filing since 2020; none of the 3 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
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
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 Foundations
How much does Commonwealth Foundations give each year?
Commonwealth Foundations gave $8.3M across 83 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $8.1M across 87 grants.
What is Commonwealth Foundations's typical grant size?
Commonwealth Foundations's median grant in 2024 was $5,000, and its average grant was $100,057, across 83 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Commonwealth Foundations that year got $18K on average.
Where does Commonwealth Foundations give grants?
Commonwealth Foundations gives mostly in Virginia: 95% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Richmond, VA (37 grants), Charlottesville, VA (12 grants), Charleston, SC (3 grants) and Franklin, VA (2 grants).
Does Commonwealth Foundations give general operating support?
Yes: 100% of Commonwealth Foundations's 2024 grants with a stated purpose (83 of 83) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Commonwealth Foundations's largest grantees?
Commonwealth Foundations's largest 2024 grantees include VCU School of Engineering Foundation ($3,262,500), Virginia Tech Foundation ($1,260,000) and Mary Baldwin University ($850,000), according to its 2024 IRS Form 990-PF. It also paid 1 grant to individuals ($48,000), which are not listed by name. Together they received 65% of its itemized 2024 grant dollars.
How large is Commonwealth Foundations?
Commonwealth Foundations reported $219K in total assets on its 2024 IRS Form 990-PF. It paid out $8.3M in qualifying distributions that year, against a required minimum of $19K (roughly 5% of its investment assets).
What does Commonwealth Foundations fund?
No mission statement for the foundation is provided. Its 2024 grants included general support for educational institutions and other charitable organizations. See mission & focus areas ↑
How do I apply for a grant from Commonwealth Foundations?
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Commonwealth Foundations's EIN?
Commonwealth Foundations's EIN (Employer Identification Number) is 46-5103846. IRS Form 990 filing data is available on this page for 2020–2024.
Does Commonwealth Foundations accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Commonwealth Foundations's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Commonwealth Foundations funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/commonwealth-foundations-morg_9c2cc962454942f494e8e1cf9c83257b
BibTeX
@misc{grantable_465103846_2026,
author = {{Grantable}},
title = {{Commonwealth Foundations funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/commonwealth-foundations-morg_9c2cc962454942f494e8e1cf9c83257b},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Commonwealth Foundations's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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