Commonwealth Foundations
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
83
-4.6% YoY
Avg Grant Size
$100K
+8.1% YoY
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
States
Cities
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
| 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
No grants recorded for .
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
Related Funders
Similar funders by location and focus area
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Grants
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Total Given
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Total Given
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Lawrence and Ira Straus Charitable Tr
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Total Given
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Iraqi Children Foundation Inc
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Assets
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Total Given
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Mjh Foundation
VIRGINIA BEACH, VA
Assets
$46.5M
Grants
1
Total Given
$1.9M
The Roth Family Foundation
ARLINGTON, VA
Assets
$67K
Grants
1
Total Given
$25K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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