Petters Family Foundation

Private foundation · Grantmaker Newport News, VA EIN: 45-2323642

The Petters Family Foundation is a private foundation based in Newport News, Virginia. Its 2024 grants supported organizations including educational institutions, a museum, youth programs, and community organizations.

Key facts about Petters Family Foundation

In short: Petters Family Foundation gave $3.2M across 29 grants in 2025 (avg $112K), mostly in Virginia. 21% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.

EIN
45-2323642
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$3,244,490
Grants made (2025)
29
Average grant
$111,879
Median grant
$15,000
New grantees (estimate)
21% first-time grantees (6 of 29, 2025)
Total assets
$50,258,028
Primary geography
Virginia (78% of itemized 2025 grant dollars)
Accepts unsolicited proposals
No
How to apply
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓

Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$50.3M

+28.3% YoY

Annual Giving

$3.2M

+18.5% YoY

Grant Count

29

+0.0% YoY

Avg Grant Size

$112K

+18.5% YoY

Under IRS private-foundation payout rules, Petters Family Foundation reported a distributable amount of $3.0M for 2025 — the minimum it must pay out in qualifying distributions.

Is Petters Family Foundation open to new grantees?

21%

first-time grantees, 2025

In 2025, 6 of 29 grantees (21%) were first-time recipients. First grants averaged $172K; repeat grants $96K. How we count

Medians: $5K first-time, $20K repeat.

  • 79% of 2025 grantees were also funded in 2024. Method
  • Giving grew 39% from 2022 to 2025. Method
  • In 2025 it paid out 107% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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

Mission & Focus Areas

No foundation mission statement is provided. Its 2024 grants included support for the College of William & Mary Foundation’s Camp Launch program and general support, the Virginia Living Museum, An Achievable Dream, and Peake Childhood Center’s low-income early childhood education work.

The grantees describe their work in varied terms. The William & Mary Foundation says it advances the university’s aspirations through private support, investment management, and strategic leadership. The Virginia Living Museum says it connects people to nature through educational programs, exhibits, and learning opportunities. An Achievable Dream says it develops independent, productive citizens through social, academic, and moral education. Bearings Bike Shop says it gives youth tools to advance skills and build productive lives; Soundscapes says it provides young people with music-making and performance opportunities to strengthen a range of skills.

Grantmaking

In 2024, the foundation reported 29 grants totaling $2,737,923. Grant amounts ranged from $1,100 to $1,005,000, with a median of $10,000. Other recent totals were $2,642,565 across 22 grants in 2023 and $2,338,000 across 17 grants in 2022.

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Geographic Focus

Where this funder awards grants

In 2024, 81% of grant dollars went to recipients in Virginia, 9% to Maryland, 5% to Georgia, 4% to Florida, and 0% to Louisiana.

Grant Distribution by State

7states

Share of all 29 itemized 2025 grant dollars.

Cities

Newport NewsRichmondHamptonWilliamsburgAnnapolisTampaAtlantaNew OrleansPortsmouthNorfolkTougalooNorth ChesterfieldSan Diego

Giving Over Time

Total grant dollars and number of grants per year

$0$1M$2M$3M$4M18 grants202013 grants202117 grants202222 grants202329 grants202429 grants2025

From 2020 to 2025, annual grant giving ranged from $2.0M (2021) to $3.2M (2025). In 2025 it made 29 grants totaling $3.2M.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

William & Mary Foundation: $1.0MWilliam & Mary Foundation$1.0MSoundscapes: $367KSoundscapes$367KUS Naval Academy Foundation: $250KUS Naval Academy Foundation$250KVirginia Living Museum: $250KVirginia Living Museum$250KSon of a Saint: $210KSon of a Saint$210KAn Achievable Dream: $205KAn Achievable Dream$205KPeake Childhood Center: $203KPeake Childhood Center$203KVirginia Foundation for Community College Education: $200KVirginia Foundation forCommunity College Education$200KBearings Bike Shop: $150KBearings Bike Shop$150KJesuit High School: $100KJesuit High School$100K

The largest 2025 recipient was William & Mary Foundation ($1.0M). Together the top 10 received $2.9M.

Grant Size Distribution

110 grants across all recorded years

60<$50K6$50–100K31$100–250K8$250–500K$500K–1M5$1–5M$5M+

The most common grant size was under $50K: 60 grants of 110 (55%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
William & Mary Foundation Williamsburg, VASponsorship of Camp Launch Program and General Support$1,000,000
Soundscapes Newport News, VAGeneral Support$366,990
US Naval Academy Foundation Annapolis, MDSupport of naval academy annual fund, stem and minority outreach for admissions.$250,000
Virginia Living Museum Newport News, VAGeneral Support$250,000
Son of a Saint New Orleans, LAImproving the lives of fatherless boys in new orlelans$210,000
An Achievable Dream Newport News, VAGeneral Fund Support$205,000
Peake Childhood Center Hampton, VAGeneral Support for Low Income Early Childhood Education$202,500
Virginia Foundation for Community College Education North Chesterfield, VAGeneral Support$200,000
Bearings Bike Shop Atlanta, GACapital and Operational Support$150,000
Jesuit High School Tampa, FLGeneral Support$100,000

Financial History

Multi-year comparison from IRS filings

Filing year Grant total Number of grants
2024 $2,737,923 29
2023 $2,642,565 22
2022 $2,338,000 17
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$5M$10M$15M$20M202020212022202320242025
Metric202520242023
Total Assets$50,258,028$39,182,822$26,982,099
Revenue$14,865,321$15,169,755$5,182,581
Expenses$3,790,115$2,969,032$2,783,627
Qualifying Distributions$3,250,431$2,743,592$2,648,015
Net Investment Income$14,686,515$15,026,867$4,128,949
Distributable Amount$3,029,683$3,016,139$2,736,369

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 14, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 12, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 15, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
  6. Added Form 990-PF for fiscal year 2025 (received by the IRS May 26, 2026)
  7. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2024 filing lists C Michael Petters as secretary/treasurer, Nancy B Petters as president, and Sarah Fletcher and Caroline G Sauer as vice presidents.

Petters Family Foundation is led by Nancy B. Petters, President on every filing since 2020; none of the 4 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Nancy B. Petters

    President

    On filings since 2020

    1 hr/week

    No compensation reported

  • C. Michael Petters

    Secretary & Treasurer

    On filings since 2020

    4 hrs/week

    No compensation reported

  • Caroline G. Sauer

    Vice President

    On filings since 2020

    1 hr/week

    No compensation reported

  • Sarah Fletcher

    Vice President

    On filings since 2020

    1 hr/week

    No compensation reported

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Contact

Mailing address: 134 James River Drive, Newport News, VA 23601
Phone: (757) 880-4138

Frequently asked questions about Petters Family Foundation

How much does Petters Family Foundation give each year?

Petters Family Foundation gave $3.2M across 29 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $2.7M across 29 grants.

What is Petters Family Foundation's typical grant size?

Petters Family Foundation's median grant in 2025 was $15,000, and its average grant was $111,879, across 29 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Petters Family Foundation that year got $172K on average.

Where does Petters Family Foundation give grants?

Petters Family Foundation gives mostly in Virginia: 78% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Maryland (8%) and Louisiana (7%). The most frequent recipient cities were Newport News, VA (16 grants), Williamsburg, VA (2 grants), New Orleans, LA (2 grants) and Hampton, VA (2 grants).

Does Petters Family Foundation give general operating support?

Yes: 90% of Petters Family Foundation's 2025 grants with a stated purpose (26 of 29) were for general or operating support, per its 2025 IRS Form 990-PF.

Who are Petters Family Foundation's largest grantees?

Petters Family Foundation's largest 2025 grantees include William & Mary Foundation ($1,000,000), Soundscapes ($366,990) and US Naval Academy Foundation ($250,000), according to its 2025 IRS Form 990-PF. Together they received 50% of its itemized 2025 grant dollars.

How large is Petters Family Foundation?

Petters Family Foundation reported $50.3M in total assets on its 2025 IRS Form 990-PF. It paid out $3.3M in qualifying distributions that year, against a required minimum of $3.0M (roughly 5% of its investment assets).

What does Petters Family Foundation fund?

No foundation mission statement is provided. Its 2024 grants included support for the College of William & Mary Foundation’s Camp Launch program and general support, the Virginia Living Museum, An Achievable Dream, and Peake Childhood Center’s low-income early childhood education work. See mission & focus areas ↑

How do I apply for a grant from Petters Family Foundation?

The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

What is Petters Family Foundation's EIN?

Petters Family Foundation's EIN (Employer Identification Number) is 45-2323642. IRS Form 990 filing data is available on this page for 2020–2025.

Does Petters Family Foundation accept unsolicited proposals?

No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑

Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.

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