Reco Foundation
The RECO Foundation is a private, company-sponsored foundation established in April 1958 and based in Manakin Sabot, Virginia. The foundation makes grants to qualifying public charities and does not carry on charitable activities directly. The foundation's major donor is RECO Constructors, Inc.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$7.6M
-31.4% YoY
Annual Giving
$4.0M
+700.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$4.0M
+700.0% YoY
Under IRS private-foundation payout rules, Reco Foundation reported a distributable amount of $522K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports organizations involved in the following areas:
- Food banks and health clinics
- Historic preservation
- Education
- Cancer
- Temporary housing
- Youth and family services
- Arts & Culture
- Religion
- Community Development
- Social & Human Services
- Sports & Recreation
- Health
Grantmaking
The foundation provides grants for operating funds and program funding. In fiscal year 2023, the foundation made 83 grants, including a $500,000 grant to United Way of Greater Richmond and Petersburg to meet community human service needs.
Review Cycle
are provided by the foundation.
How to Apply
** The foundation does not respond to unsolicited applications for funding. No confirmed application deadlines are provided by the foundation.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending September 2023:
- Total Assets: $11,087,840
- Total Revenues: $2,917,188
- Total Expenses: $636,828
- Total Liabilities: $0
Revenue Breakdown (FY 2023):
- Investment income and dividends: $468,071
- Net gain from sale of non-inventory assets: $2,449,117
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $7,601,799 | $11,087,840 | $8,807,480 |
| Revenue | $553,205 | $2,917,188 | $915,706 |
| Expenses | $4,039,246 | $636,828 | $609,459 |
| Qualifying Distributions | $4,000,000 | $500,000 | $500,000 |
| Net Investment Income | $519,290 | $2,845,654 | $821,708 |
| Distributable Amount | $521,590 | $516,378 | $622,871 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
142 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Cristo Rey Richmond High School ($4,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| CRISTO REY RICHMOND HIGH SCHOOL RICHMOND, VA | FOR THE PURPOSE OF RENOVATING THE GYMNASIUM AND KITCHEN | $4,000,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ROBERT C COURAIN JR | PRESIDENT / TREASURER | — | — |
| RUTH D COURAIN | VICE PRESIDENT | — | — |
| WILLIAM M RICHARDSON | VICE PRESIDENT / SECRETARY | — | — |
| ROBERT C COURAIN III | DIRECTOR | — | — |
| DR FRANKLIN LUKE | DIRECTOR | — | — |
| ALLEN C GOOLSBY III | DIRECTOR | — | — |
| LAUREN C LUKE | DIRECTOR | — | — |
Contact Information
- Address: PO Box 291, Manakin Sabot, VA 23103
- Telephone: 804-347-9765
- EIN: 54-6039609
Frequently Asked Questions
What does Reco Foundation fund?
The foundation supports organizations involved in the following areas: • Food banks and health clinics • Historic preservation • Education • Cancer • Temporary housing • Youth and family services • Arts & Culture • Religion • Community Development • Social & Human Services • Sports & Recreation • Health
How do I apply for a grant from Reco Foundation?
The foundation provides grants for operating funds and program funding. In fiscal year 2023, the foundation made 83 grants, including a $500,000 grant to United Way of Greater Richmond and Petersburg to meet community human service needs. **Application Process:** The foundation does not respond to unsolicited applications for funding. No confirmed application deadlines are provided by the foundation. **Geographic Focus:** The foundation provides support nationally.
What size grants does Reco Foundation award?
In 2024, Reco Foundation awarded 1 grants totaling $4.0M — an average of about $4.0M per grant, based on its IRS Form 990 filings.
How much is Reco Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Reco Foundation reported a distributable amount of $522K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Reco Foundation's EIN?
Reco Foundation's EIN (Employer Identification Number) is 54-6039609. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Reco Foundation'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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