Red Gates Foundation
Red Gates Foundation is a private foundation based in Richmond, Virginia. In 2024, it reported 33 grants totaling $67,338,685, mostly to organizations in Virginia. Its grants included support for schools, universities, health and research organizations, and community-service organizations.
Red Gates Foundation at a glance
In short: Red Gates Foundation gave $67.3M across 33 grants in 2024 (avg $2.0M), mostly in Virginia. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $67,338,685
- -6.3% vs 2023
- Grants made (2024)
- 33
- +26.9% vs 2023
- Average grant
- $2,040,566
- -26.2% vs 2023
- Median grant
- $400,000
- Total assets
- $1,521,801,051
- +11.2% vs 2023
- Primary geography
- Virginia (88% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to Red Gates Foundation
- 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.
- Contact
Mailing address: 920 Libbie Ave 105, Richmond, VA 23226
Phone: (804) 613-4619
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Red Gates Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Commonwealth Foundation for Cancer Research ($20.8M). Together the top 10 received $59.2M.
Grant Size Distribution
71 grants across all recorded years
The most common grant size was in the $1–5M range: 15 grants of 71 (21%).
Geographic Focus
Where this funder awards grants
In 2024, 88% of grant dollars went to recipients in Virginia, 7% to Missouri, 3% to Tennessee, and 1% each to South Carolina and New York.
Grant Distribution by State
Share of 2024 grant dollars across all 33 itemized grants.
Cities
How Red Gates Foundation gives
- 64% of 2024 grantees were also funded in 2023. Method
- Giving grew 112131% from 2021 to 2024. Method
- In 2024 it paid out 96% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $60K (2021) to $71.9M (2023). In 2024 it made 33 grants totaling $67.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Commonwealth Foundation for Cancer Research Richmond, VA | General Support | $20,840,729 |
| Anna Julia Cooper School Richmond, VA | General Support | $10,200,000 |
| Virginia Tech Foundation Inc Blacksburg, VA | General Support | $10,000,000 |
| Concordance STL Louis, MO | General Support | $5,000,000 |
| YWCA Richmond Richmond, VA | General Support | $3,500,000 |
| Liberation Veteran Services Richmond, VA | General Support | $2,372,100 |
| Vanderbilt University Medical Center Nashville, TN | General Support | $2,000,000 |
| Darden School Charlottesville, VA | General Support | $1,964,000 |
| Focused Ultrasound Foundation Charlottesville, VA | General Support | $1,960,629 |
| Ronald McDonaold House Charities of Richmond Richmond, VA | General Support | $1,350,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,521,801,051 | $79,331,095 | $38,417,959 | $67,338,685 | 33 | $68,167,791 | $76,889,892 | $70,896,779 |
| 2023 | $1,367,916,776 | $38,249,357 | $154,220,255 | $71,871,654 | 26 | $72,664,554 | $55,085,665 | $68,174,751 |
| 2022 | $1,405,364,412 | $2,056,012,527 | $80,269,630 | $3,278,773 | 7 | $3,870,486 | $18,872,399 | $77,045,821 |
| 2021 | $255,620 | $385,601 | $143,735 | $60,000 | 2 | $139,548 | $1 | $1,129 |
| 2020 | $13,754 | $324,042 | $415,292 | $360,000 | 3 | — | $88 | $2,103 |
Under IRS private-foundation payout rules, Red Gates Foundation reported a distributable amount of $70.9M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants show support for organizations with varied missions. For example, Anna Julia Cooper School says it provides full-tuition scholarships to K–8 students, primarily in Richmond’s East End. Concordance describes its mission as reducing reincarceration through an integrated re-entry program, while YWCA Richmond says it works to eliminate racism, empower women, and promote peace, justice, freedom, and dignity.
Other 2024 grantees describe work in higher education, medical care and research, and education for students with disabilities. Virginia Tech Foundation says it manages Virginia Tech’s endowment to advance the university’s mission and priorities; Vanderbilt University Medical Center describes itself as an academic health system providing patient care and conducting research; and Northstar Academy says it supports educational and career opportunities for students with disabilities.
Grantmaking
In 2024, the foundation made 33 grants totaling $67,338,685. Grants ranged from $20,000 to $20,840,729, with a median of $400,000. The largest grants included $20,840,729 to Commonwealth Foundation for Cancer Research, $10,200,000 to Anna Julia Cooper School, $10,000,000 to Virginia Tech Foundation, $5,000,000 to Concordance, and $3,500,000 to YWCA Richmond. The listed grants were for general support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists William H. Goodwin Jr. as chairman, Matthew T. Goodwin as vice chairman, and Richard J. Higgerson as a board member.
Red Gates Foundation is led by William H. Goodwin Jr., Chairman on every filing since 2021; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
William H. Goodwin Jr.
Chairman
On filings since 2021
1 hr/week
No compensation reported
Matthew T. Goodwin
Vice Chairman
Director → Vice Chairman, 2021
On filings since 2020
1 hr/week
No compensation reported
Richard J. Higgerson
Board Member
On filings since 2021
1 hr/week
No compensation reported
Former officers (1)
- Former: James A. Jones (2020–2022) — Treasurer
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Red Gates Foundation
How much does Red Gates Foundation give each year?
Red Gates Foundation gave $67.3M across 33 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $71.9M across 26 grants.
What is Red Gates Foundation's typical grant size?
Red Gates Foundation's median grant in 2024 was $400,000, and its average grant was $2,040,566, across 33 grants on its 2024 IRS Form 990-PF.
Where does Red Gates Foundation give grants?
Red Gates Foundation gives mostly in Virginia: 88% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Missouri (7%). The most frequent recipient cities were Richmond, VA (22 grants) and Charlottesville, VA (2 grants).
Does Red Gates Foundation give general operating support?
Yes: 100% of Red Gates Foundation's 2024 grants with a stated purpose (33 of 33) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Red Gates Foundation's largest grantees?
Red Gates Foundation's largest 2024 grantees include Commonwealth Foundation for Cancer Research ($20,840,729), Anna Julia Cooper School ($10,200,000) and Virginia Tech Foundation Inc ($10,000,000), according to its 2024 IRS Form 990-PF. Together they received 61% of its itemized 2024 grant dollars.
How large is Red Gates Foundation?
Red Gates Foundation reported $1.5B in total assets on its 2024 IRS Form 990-PF. It paid out $68.2M in qualifying distributions that year, against a required minimum of $70.9M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Red Gates Foundation fund?
No mission statement for the foundation is provided. Its 2024 grants show support for organizations with varied missions. For example, Anna Julia Cooper School says it provides full-tuition scholarships to K–8 students, primarily in Richmond’s East End. See mission & focus areas ↑
How do I apply for a grant from Red Gates 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 Red Gates Foundation's EIN?
Red Gates Foundation's EIN (Employer Identification Number) is 30-1201296. IRS Form 990 filing data is available on this page for 2020–2024.
Does Red Gates Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Red Gates Foundation funder profile. GrantGraph. Retrieved October 13, 2026, from https://grantable.co/funders/red-gates-foundation-morg_6ca11f207fc244e4b6df592516b79263
BibTeX
@misc{grantable_301201296_2026,
author = {{Grantable}},
title = {{Red Gates Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/red-gates-foundation-morg_6ca11f207fc244e4b6df592516b79263},
note = {Accessed 2026-10-13. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Red Gates Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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