Irving and Jett Groves Charitable Foundation

MARTINSVILLE, VA EIN: 54-1961867

Irving and Jett Groves Charitable Foundation is a private foundation, based in MARTINSVILLE, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 3 grants totaling $3K. Net investment income was $68K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.6M

+4.0% YoY

Annual Giving

$3K

-97.1% YoY

Grant Count

-93.9% YoY

Avg Grant Size

$833.333

-52.7% YoY

Under IRS private-foundation payout rules, Irving and Jett Groves Charitable Foundation reported a distributable amount of $88K for 2024 — the minimum it must pay out in qualifying distributions.

About Irving and Jett Groves Charitable Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Virginia $303K (97%)

Ohio $4K (1%)

Indiana $2K (0%)

District of Columbia $1K (0%)

Kentucky $1K (0%)

Pennsylvania $1K (0%)

States

District of Columbia Indiana Kentucky Ohio Pennsylvania Virginia

Cities

AshlandAxtonBassettCharlottesvilleCollinsvilleDaytonFarmvilleIndianapolisLexingtonMartinsvillePhiladelphiaRichmondRidgewayRoanokeW ChesterWashingtonYoungstown

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$1,566,543	$1,506,835	$1,298,430
Revenue	$78,200	$307,790	$68,902
Expenses	$21,655	$97,824	$86,633
Qualifying Distributions	$4,000	$86,250	$73,775
Net Investment Income	$67,764	$296,704	$57,116
Distributable Amount	$88,026	$73,413	$83,893

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Grant Size Distribution

195 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Boys & Girls Club ($1,500), Ridgeway United Methodist Church ($500), Da Capo Virginia ($500).

Recipient	Purpose	Amount
BOYS & GIRLS CLUB MARTINSVILLE, VA	GENERAL OPERATING	$1,500
RIDGEWAY UNITED METHODIST CHURCH RIDGEWAY, VA	GENERAL OPERATING	$500
DA CAPO VIRGINIA MARTINSVILLE, VA	GENERAL OPERATING	$500

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
IRVING M GROVES III	SECRETARY	1	—
MATTIE G SHEPPARD	PRESIDENT	1	—
JETT G WOOD	VICE-PRESIDENT	1	—

Frequently Asked Questions

How large is Irving and Jett Groves Charitable Foundation?

As of 2024, Irving and Jett Groves Charitable Foundation holds $1.6M in total assets with $78K in annual revenue. It awarded 3 grants totaling $3K in 2024.

Where does Irving and Jett Groves Charitable Foundation operate?

Irving and Jett Groves Charitable Foundation has awarded grants in District of Columbia, Indiana, Kentucky, Ohio, Pennsylvania, Virginia.

What size grants does Irving and Jett Groves Charitable Foundation award?

In 2024, Irving and Jett Groves Charitable Foundation awarded 3 grants totaling $3K — an average of about $833.333 per grant, based on its IRS Form 990 filings.

How much is Irving and Jett Groves Charitable Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Irving and Jett Groves Charitable Foundation reported a distributable amount of $88K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Irving and Jett Groves Charitable Foundation's EIN?

Irving and Jett Groves Charitable Foundation's EIN (Employer Identification Number) is 54-1961867. IRS Form 990 filing data is available on this page for 2020–2024.