Foundation for Financial Independence
Foundation for Financial Independence is a private foundation, based in Richmond, VA. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $793K in total assets. In 2025, it awarded 4 grants totaling $40K. Net investment income was $21K.
Foundation for Financial Independence at a glance
In short: Foundation for Financial Independence gave $40K across 4 grants in 2025 (avg $10K), mostly in Virginia. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $40,000
- +14.3% vs 2024
- Grants made (2025)
- 4
- +100.0% vs 2024
- Average grant
- $10,000
- -42.9% vs 2024
- Median grant
- $7,500
- Total assets
- $792,623
- +9.9% vs 2024
- Primary geography
- Virginia (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Foundation for Financial Independence funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was The Salvation Army Central Virginia Area Command ($20K). Together the top 4 received $40K.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was under $50K: 10 grants of 10 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
States
Cities
How Foundation for Financial Independence gives
- Giving grew 100% from 2022 to 2025. Method
- In 2025 it paid out 95% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2025, annual grant giving ranged from $20K (2022) to $40K (2025). In 2025 it made 4 grants totaling $40K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Salvation Army Central Virginia Area Command Richmond, VA | Charitable Support | $20,000 |
| Piedmont Housing Alliance Charlottesville, VA | Charitable Support | $10,000 |
| Mahogany & Friends Foundation Charlottesville, VA | Charitable Support | $5,000 |
| The Center for Working Families Glen Allen, VA | Charitable Support | $5,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $792,623 | $111,884 | $40,503 | $40,000 | 4 | $40,000 | $21,026 | $41,922 |
| 2024 | $721,243 | $121,096 | $35,253 | $35,000 | 2 | $35,000 | $20,884 | $34,459 |
| 2023 | $635,399 | $100,741 | $30,203 | $30,000 | 2 | $30,000 | $12,776 | $27,383 |
| 2022 | $564,861 | $125,052 | $20,194 | $20,000 | 2 | $20,000 | $9,768 | $21,709 |
| 2021 | $460,003 | $460,003 | — | — | — | — | $3 | $845 |
Under IRS private-foundation payout rules, Foundation for Financial Independence reported a distributable amount of $42K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Foundation for Financial Independence is led by Dee Ann Remo, President on every filing since 2021; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Dee Ann Remo
President
On filings since 2021
1 hr/week
No compensation reported
John G. Jordan III
Treasurer
On filings since 2021
1 hr/week
No compensation reported
Charles T. Hill Jr.
Secretary
On filings since 2022
1 hr/week
No compensation reported
Former officers (1)
- Former: Elaine Summerfield (2021) — Secretary
Data from IRS Form 990 filings, 2021–2025. "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 Foundation for Financial Independence
How much does Foundation for Financial Independence give each year?
Foundation for Financial Independence gave $40K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $35K across 2 grants.
What is Foundation for Financial Independence's typical grant size?
Foundation for Financial Independence's median grant in 2025 was $7,500, and its average grant was $10,000, across 4 grants on its 2025 IRS Form 990-PF.
Where does Foundation for Financial Independence give grants?
Foundation for Financial Independence gives mostly in Virginia: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Charlottesville, VA (2 grants).
Does Foundation for Financial Independence give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Foundation for Financial Independence's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable Support" (4 grants).
How large is Foundation for Financial Independence?
Foundation for Financial Independence reported $793K in total assets on its 2025 IRS Form 990-PF. It paid out $40K in qualifying distributions that year, against a required minimum of $42K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Foundation for Financial Independence's EIN?
Foundation for Financial Independence's EIN (Employer Identification Number) is 87-2981353. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS January 25, 2023)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS February 20, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 5, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 25, 2026)
- IRS filings on file for fiscal years 2021–2025
Live grants for the work Foundation for Financial Independence funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Foundation for Financial Independence's focus areas in our free grants database
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