Freas Foundation Incorporated
Freas Foundation Incorporated is a private family foundation based in Glen Allen, Virginia. The foundation was established in 1951 and operates as a grantmaking organization focused on supporting nonprofit work across multiple sectors.
Financial Overview
From 2023 IRS Form 990-PF · View filing
Total Assets
—
-100.0% YoY
Annual Giving
$4.4M
+1737.3% YoY
Grant Count
4
-86.2% YoY
Avg Grant Size
$1.1M
+13220.5% YoY
Under IRS private-foundation payout rules, Freas Foundation Incorporated reported a distributable amount of $65K for 2023 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's giving priorities include:
- Arts
- Education
- Human Services
- Philanthropy, Voluntarism & Grantmaking
Grantmaking
According to the most recent IRS Form 990 filing (2023), the foundation distributed **$4,386,500** in total giving during that year. Grant awards have historically ranged from $2,000 to $1,096,625.
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking has primarily focused on Florida, though it is based in Virginia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023 (most recent filing):
- Total Assets: $0
- Total Giving: $4,386,500
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | — | $4,277,017 | $4,960,611 |
| Revenue | $36,819 | $256,177 | $317,304 |
| Expenses | $4,402,454 | $267,637 | $222,800 |
| Qualifying Distributions | $4,386,500 | $238,746 | $203,618 |
| Net Investment Income | $20,865 | $234,305 | $298,122 |
| Distributable Amount | $64,981 | $219,864 | $238,746 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2023
Grant Size Distribution
89 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2023 grants, the largest include CL Fund Schwab Charitable ($1,096,625), Oly Freas Fund Schwab Charitable ($1,096,625), Pratt Family Fund Schwab CHaritable ($1,096,625).
| Recipient | Purpose | Amount |
|---|---|---|
| CL Fund Schwab Charitable Orlando, FL | Charitable Donor Advisory Fund | $1,096,625 |
| Oly Freas Fund Schwab Charitable Orlando, FL | Charitable Donor Advisory Fund | $1,096,625 |
| Pratt Family Fund Schwab CHaritable Orlando, FL | Charutable Donor Advisory Fund | $1,096,625 |
| Freas Redux Fund Schwab Charitable Orlando, FL | Charitable Donor Advisory Fund | $1,096,625 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2023 IRS filing
From 2023 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Donald Arthur Freas | President & CEO | 2 | — |
| Lawrence Huston Freas | Treasurer | 2 | — |
| Nancy Freas Pratt | Vice President | 2 | — |
| Susan Freas Magargee | Secretary | 2 | — |
Frequently Asked Questions
What does Freas Foundation Incorporated fund?
The foundation's giving priorities include: • Arts • Education • Human Services • Philanthropy, Voluntarism & Grantmaking
How do I apply for a grant from Freas Foundation Incorporated?
According to the most recent IRS Form 990 filing (2023), the foundation distributed **$4,386,500** in total giving during that year. Grant awards have historically ranged from $2,000 to $1,096,625. The foundation filed a final return as of 2023, indicating it is no longer actively accepting grant applications.
Where does Freas Foundation Incorporated make grants?
The foundation's grantmaking has primarily focused on **Florida**, though it is based in Virginia.
What size grants does Freas Foundation Incorporated award?
In 2023, Freas Foundation Incorporated awarded 4 grants totaling $4.4M — an average of about $1.1M per grant, based on its IRS Form 990 filings.
How much is Freas Foundation Incorporated required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2023, Freas Foundation Incorporated reported a distributable amount of $65K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Freas Foundation Incorporated's EIN?
Freas Foundation Incorporated's EIN (Employer Identification Number) is 22-1714810. IRS Form 990 filing data is available on this page for 2020–2023.
Explore Open Grants
Browse active grant opportunities in Freas Foundation Incorporated's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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