Farrell Foundation
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
16
-61.9% YoY
Avg Grant Size
$128K
+1181.3% YoY
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
Cities
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%.
| 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
No grants recorded for .
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 | — |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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