Lafayette River Foundation

Foundation · Grantmaker Norfolk, VA EIN: 02-0729969

Lafayette River Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Norfolk, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $14.5M in total assets. In 2024, it awarded 4 grants totaling $1.4M. Net investment income was $1.5M.

Key facts about Lafayette River Foundation

EIN: 02-0729969
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $1,400,000
Grants made (2024): 4
Average grant: $350,000
Median grant: $187,500
Total assets: $14,527,779
Primary geography: Virginia (100% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Who Lafayette River Foundation funds

By grant dollars, the top recipient states for Lafayette River Foundation's 4 itemized 2024 grants were Virginia (100%). The most frequent recipient cities were Norfolk, VA (3 grants). None of its 4 grants with a stated purpose were described as general or operating support. Recurring purposes include "Various Programs" (4 grants).

How Lafayette River Foundation gives

Giving grew 80% from 2021 to 2024. Method
In 2024 it paid out 156% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$14.5M

+0.8% YoY

Annual Giving

$1.4M

+46.1% YoY

Grant Count

-33.3% YoY

Avg Grant Size

$350K

+119.1% YoY

Under IRS private-foundation payout rules, Lafayette River Foundation reported a distributable amount of $915K for 2024 — the minimum it must pay out in qualifying distributions.

About Lafayette River Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Virginia $1.4M (100%)

Share of all 4 itemized 2024 grant dollars.

States

New York Virginia

Cities

NorfolkNew YorkVirginia Beach

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$14,527,779	$14,416,764	$14,624,191
Revenue	$1,651,358	$857,783	$358,438
Expenses	$1,540,343	$1,085,439	$1,117,780
Qualifying Distributions	$1,425,100	$983,600	$1,022,150
Net Investment Income	$1,464,433	$688,989	$501,457
Distributable Amount	$914,652	$838,349	$894,675

Data update history

When this profile's IRS filing data changed on Grantable

February 28, 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 4 recipients in 2024

Grant Size Distribution

28 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Virginia Arts Festival ($975,000), Virginia Opera ($225,000), Virginia Museum of Contemporary Art ($150,000).

Recipient	Purpose	Amount
VIRGINIA ARTS FESTIVAL Norfolk, VA	VARIOUS PROGRAMS	$975,000
VIRGINIA OPERA Norfolk, VA	VARIOUS PROGRAMS	$225,000
VIRGINIA MUSEUM OF CONTEMPORARY ART Virginia Beach, VA	VARIOUS PROGRAMS	$150,000
WHRO PUBLIC MEDIA Norfolk, VA	VARIOUS PROGRAMS	$50,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

Name	Title	Hours	Compensation
E G Grandy	Trustee	—	$30,000
L W Webbiii	Trustee	—	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Lafayette River Foundation?

Lafayette River Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Norfolk, VA. It holds $14.5M in total assets as of 2024.

How large is Lafayette River Foundation?

As of 2024, Lafayette River Foundation holds $14.5M in total assets with $1.7M in annual revenue. It awarded 4 grants totaling $1.4M in 2024.

Where does Lafayette River Foundation operate?

Lafayette River Foundation has awarded grants in New York, Virginia.

What size grants does Lafayette River Foundation award?

In 2024, Lafayette River Foundation awarded 4 grants totaling $1.4M — an average of about $350K per grant, based on its IRS Form 990 filings.

How much is Lafayette River Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Lafayette River Foundation reported a distributable amount of $915K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.