Farrell Foundation

ROANOKE, VA EIN: 54-1475736 Website

Arts and culture Museums Art museums Education Health

The Farrell Foundation is a private foundation based in Roanoke, Virginia, established in 1988. It operates as a 501(c)(3) organization with no employees, functioning as a grantmaking foundation. The foundation is also known as the Berglund Foundation.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$6.3M

-26.9% YoY

Annual Giving

$2.0M

+388.1% YoY

Grant Count

-61.9% YoY

Avg Grant Size

$128K

+1181.3% YoY

Under IRS private-foundation payout rules, Farrell Foundation reported a distributable amount of $248K 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 Farrell Foundation supports a diverse range of subject areas including:

Arts and culture
Education
Health
Public safety
Community development
Religion, with particular emphasis on Catholicism
Museums
Brain and nervous system disorders
Crime prevention and law enforcement

Grantmaking

The foundation made 15 grants totaling approximately $202,360 in documented grants, including:

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Geographic Focus

Where this funder awards grants

The foundation funds initiatives across multiple U.S. cities, with documented giving in:

Roanoke, Virginia
New York
Denver
Other locations across the United States

Grant Distribution by State

Virginia $3.1M (94%)

North Carolina $130K (4%)

Florida $44K (1%)

Tennessee $10K (0%)

Georgia $8K (0%)

Massachusetts $6K (0%)

Connecticut $4K (0%)

Colorado $3K (0%)

+2 more states

States

Colorado Connecticut Florida Georgia Iowa Massachusetts North Carolina New York Tennessee Virginia

Cities

CaryCharlottesvilleDenverDes MoinesDunwoodyGlen AllenGreenwichHardyNaplesNew YorkRichmondRoanokeRocky MountSalemSaratog SpringsSewanneTroutvilleWakefieldWilliamsburgWinston Salem

Financial History

Multi-year comparison from IRS filings

2023 Financial Summary:

Metric	Amount
Total Assets	$8,595,095
Total Revenues	$533,791
Total Expenses	$427,415
Grants & Contributions	$508,000
Investment Income & Dividends	$25,791

2022 Comparison:

Total Revenues: $501,789
Total Grants & Contributions: $500,000

The foundation experienced a 6.4% increase in revenues from 2022 to 2023, with investment income and dividends increasing significantly by 1,341.6%.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$6,282,696	$8,595,095	$9,009,380
Revenue	$1,164,581	$533,791	$501,789
Expenses	$2,054,668	$427,415	$327,824
Qualifying Distributions	$2,049,000	$422,960	$327,787
Net Investment Income	$152,581	$21,741	$1,764
Distributable Amount	$248,388	$422,582	$415,160

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

169 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Carilion Clinic Foundation ($2,000,000), Olph ($10,000), Bradley Free Clinic ($5,000).

Recipient	Purpose	Amount
BRADLEY FREE CLINIC ROANOKE, VA	CHARITABLE	$5,000
FAITH CHRISTIAN SCHOOL ROANOKE, VA	CHARITABLE	$2,500
FRIENDS OF MOUNTAIN VIEW ROANOKE, VA	CHARITABLE	$1,000
TSF WAKEFIELD WAKEFIELD, MA	CHARITABLE	$4,500
UNIVERSITY OF VIRGINIA OF LAW CHARLOTTESVILLE, VA	CHARITABLE	$2,000
RESTORATION HOUSING ROANOKE, VA	CHARITABLE	$5,000
NATIONAL MS SOCIETY Glen Allen, VA	CHARITABLE	$1,500
ROANOKE CATHOLIC GOLF TOURNAMENT SALEM, VA	CHARITABLE	$2,000
KIP NININGER SCHOLARSHIP FUND Troutville, VA	CHARITABLE	$1,500
ROANOKE SCHOLARSHIP PAGEANT ROANOKE, VA	CHARITABLE	$1,500

Leadership & Key People

Leadership team and compensation from IRS filings

Bruce M. Farrell serves as CEO of the foundation.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
BRUCE M FARRELL	CEO	1	—
William J Farrell II	President, Treasurer	1	—
Lucy B Farrell	Director	1	—
Kevin Oddo	Secretary	1	—

Subject Areas

Focus areas based on grantmaking activity

Arts and culture Museums Art museums Education Health

Frequently Asked Questions

What does Farrell Foundation fund?

The Farrell Foundation supports a diverse range of subject areas including: • Arts and culture • Education • Health • Public safety • Community development • Religion, with particular emphasis on Catholicism • Museums • Brain and nervous system disorders • Crime prevention and law enforcement

How do I apply for a grant from Farrell Foundation?

**Recent Grant Activity (2023):** The foundation made 15 grants totaling approximately $202,360 in documented grants, including: • Carilion Clinic: $172,360 • Roanoke Cultural Endowment: $20,000 • United Way of Virginia's Blue Ridge: $10,000 **Financial Capacity:** • Total assets: $8,595,095 (as of 2023) • Annual expenses: $427,415 (2023) • Total revenues: $533,791 (2023) • Historical total giving: $2,045,000

Where does Farrell Foundation make grants?

The foundation funds initiatives across multiple U.S. cities, with documented giving in: • Roanoke, Virginia • New York • Denver • Other locations across the United States

What size grants does Farrell Foundation award?

In 2024, Farrell Foundation awarded 16 grants totaling $2.0M — an average of about $128K per grant, based on its IRS Form 990 filings.

How much is Farrell Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Farrell Foundation reported a distributable amount of $248K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.