Honey Foundation

Foundation · Grantmaker Richmond, VA EIN: 27-2314439 Website

The Honey Foundation is a private independent foundation located in Richmond, Virginia. Established in 2011, it operates as a 501(c)(3) tax-exempt organization with a broad geographic reach across multiple states. The foundation manages significant assets and distributes grants to support various community initiatives and nonprofit organizations.

Key facts about Honey Foundation

EIN: 27-2314439
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $794,534
Grants made (2024): 51
Average grant: $15,579
Median grant: $5,000
New grantees (estimate): 37% first-time grantees (19 of 51, 2024)
Total assets: $12,196,842
Primary geography: Virginia (93% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).

Who Honey Foundation funds

By grant dollars, the top recipient states for Honey Foundation's 51 itemized 2024 grants were Virginia (93%). The most frequent recipient cities were Richmond, VA (29 grants), Henrico, VA (4 grants), North Chesterfield, VA (2 grants) and Glen Allen, VA (2 grants). None of its 51 grants with a stated purpose were described as general or operating support. Recurring purposes include "Operations" (35 grants).

Is Honey Foundation open to new grantees?

37%

first-time grantees, 2024

In 2024, 19 of 51 grantees (37%) were first-time recipients. First grants averaged $15K; repeat grants $16K. How we count

Medians: $5K first-time, $5K repeat.

59% of 2024 grantees were also funded in 2023. Method
Giving grew 22% from 2021 to 2024. Method
In 2024 it paid out 151% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$12.2M

+10.5% YoY

Annual Giving

$795K

+4.7% YoY

Grant Count

+10.9% YoY

Avg Grant Size

$16K

-5.5% YoY

Under IRS private-foundation payout rules, Honey Foundation reported a distributable amount of $525K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Grantmaking

The Honey Foundation has demonstrated active grantmaking activity in recent years. In 2023, the foundation made 34 grants totaling approximately $759,000. Recent notable grants include:

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Geographic Focus

Where this funder awards grants

The Honey Foundation funds projects across multiple states including Virginia, North Carolina, South Carolina, Florida, Georgia, Missouri, Colorado, and West Virginia. Primary funding activity has been concentrated in Virginia cities including Richmond and Henrico, with additional grants distributed to locations such as Orlando, Florida and St. Louis, Missouri.

Grant Distribution by State

Virginia $740K (93%)

North Carolina $15K (2%)

Michigan $15K (2%)

South Carolina $10K (1%)

Missouri $5K (1%)

All other $10K (1%)

Share of all 51 itemized 2024 grant dollars.

States

Colorado Florida Georgia Maryland Michigan Missouri North Carolina South Carolina Texas Virginia West Virginia

Cities

RichmondHenricoNorth ChesterfieldGreenvilleGreerVidaliaCharlotteChesterMechanicsvilleMontreatWinstonsalemHarrisonburgMidlothianSt LouisDavidsonGlen AllenLewisburgLittletonOrlandoSt Augustine

Financial History

Multi-year comparison from IRS filings

As of Fiscal Year 2023:

Total Assets: $11,039,165
Total Revenue: $1,652,710
Total Expenses: $834,699
Total Liabilities: $0

Revenue Breakdown (2023):

Grants and contributions: $549,245
Investment income and dividends: $370,734
Net gain from sale of non-inventory assets: $732,731

The foundation maintains a healthy financial position with an expense ratio of 50.5%, indicating that approximately half of annual expenses are directed toward grants and charitable activities.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$12,196,842	$11,039,165	$10,723,852
Revenue	$2,027,184	$1,652,710	$349,678
Expenses	$869,507	$834,699	$1,051,740
Qualifying Distributions	$794,547	$758,713	$953,838
Net Investment Income	$1,958,011	$1,027,764	$326,172
Distributable Amount	$524,645	$584,046	$663,199

Data update history

When this profile's IRS filing data changed on Grantable

March 2, 2026 IRS filings on file for fiscal years 2020–2024

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

216 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Greater Richmond Aquatics Partnership ($125,000), EverBless Foundation ($108,000), PGA Tour Charities ($100,000).

Recipient	Purpose	Amount
Greater Richmond Aquatics Partnership North Chesterfield, VA	For new lights in arena & operations	$125,000
EverBless Foundation Henrico, VA	Operations	$108,000
PGA Tour Charities Glen Allen, VA	on behalf of SwimRVA	$100,000
The Salvation Army Central Virginia Richmond, VA	Operations	$100,000
United Way of Greater Richmond & Petersbu Richmond, VA	Operations	$45,000
Sports Backers Richmond, VA	New Headquarters & Operations	$40,000
Veritas School Richmond, VA	Operations	$33,334
Greater Richmond Partnership Inc Richmond, VA	on behalf of Threads Uniform Agency	$30,000
For RichmondBless Richmond Richmond, VA	Operations	$25,000
University of Mary Washington (Foundatio Fredericksburg, VA	Soccer Complex Fund	$20,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2022 IRS filing

Name	Title	Hours	Compensation
Robert S Ukrop	President	1	—
David J Naquin	Secretary/Treasurer	1	—
Robert S Ukrop Jr	Director	1	—

Contact Information

Address: 2001 Maywill Street, Suite 100 Richmond, VA 23230

Tax ID: 27-2314439

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

How do I apply for a grant from Honey Foundation?

The Honey Foundation has demonstrated active grantmaking activity in recent years. In 2023, the foundation made 34 grants totaling approximately $759,000. Recent notable grants include: • Swim RVA: $176,000 (HVAC Project) • Metropolitan Richmond Sports Backers: $61,250 (Monument 10K & Operations) • RVA Sports Foundation: $50,000 (Operations) The foundation has funded projects spanning operations support, aquatics programs, sports initiatives, food assistance for Baptist centers, poverty allevia…

Where does Honey Foundation make grants?

What size grants does Honey Foundation award?

In 2024, Honey Foundation awarded 51 grants totaling $795K — an average of about $16K per grant, based on its IRS Form 990 filings.

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

Private foundations must generally distribute about 5% of their assets annually. For 2024, Honey Foundation reported a distributable amount of $525K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.