Richard Olivieri Family Foundation

Private foundation · Grantmaker Virginia Beach, VA EIN: 54-1308959

Richard Olivieri Family Foundation is a private foundation, based in Virginia Beach, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $338K in total assets. In 2024, it awarded 4 grants totaling $67K. Net investment income was $18K.

Richard Olivieri Family Foundation at a glance

In short: Richard Olivieri Family Foundation gave $67K across 4 grants in 2024 (avg $17K), mostly in Virginia. Source: 2024 IRS Form 990-PF.

Annual giving (2024)
$67,300
+81.9% vs 2023
Grants made (2024)
4
+33.3% vs 2023
Average grant
$16,825
+36.4% vs 2023
Median grant
$7,900
Total assets
$338,400
+1.6% vs 2023
Primary geography
Virginia (95% of itemized 2024 grant dollars)
Latest 990 filing
Form 990-PF, 2024 View filing

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

Who Richard Olivieri Family Foundation funds

How this funder distributes its grants

Top Recipients

Top 4 recipients in 2024

Cape Henry Collegiate: $50KCape Henry Collegiate$50KChesapeake Wine Classic Foundation: $13KChesapeake Wine ClassicFoundation$13KAmerican Heart Association: $3KAmerican Heart Association$3KVB Home Now: $2KVB Home Now$2K

The largest 2024 recipient was Cape Henry Collegiate ($50K). Together the top 4 received $67K.

Grant Size Distribution

49 grants across all recorded years

47<$50K2$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 47 grants of 49 (96%).

Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of 2024 grant dollars across all 4 itemized grants.

Cities

Virginia BeachNorfolkChesapeakeBurkevilleHavre De GracePortsmouthDallas

How Richard Olivieri Family Foundation gives

  • Giving grew 388% from 2021 to 2024. Method
  • In 2024 it paid out 449% of its IRS minimum distribution (the 5% rule). Method

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

Giving History

Giving Over Time

Total grant dollars and number of grants per year

$0$20K$40K$60K$80K16 grants2020 16 grants2021 10 grants2022 3 grants2023 4 grants2024

From 2020 to 2024, annual grant giving ranged from $14K (2021) to $67K (2024). In 2024 it made 4 grants totaling $67K.

Grants by year

Grant recipients and amounts by year

RecipientPurposeAmount
Cape Henry Collegiate Virginia Beach, VAEducation$50,000
Chesapeake Wine Classic Foundation Virginia Beach, VAEducation$12,500
American Heart Association Dallas, TXHEALTH$3,300
VB Home Now Virginia Beach, VAGeneral$1,500
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Financial History

Multi-year comparison from IRS filings

Figures from IRS filings, by filing year
Filing yearTotal AssetsRevenueExpensesGrants paidGrantsQualifying DistributionsNet Investment IncomeDistributable Amount
2024$338,400$80,958$75,377$67,3004$67,300$17,910$14,982
2023$333,053$44,412$37,526$37,0003$37,000$16,836$14,212
2022$326,399$72,076$68,260$65,00010$65,000$16,676$15,056
2021$318,507$17,736$19,486$13,80016$13,800$16,653$16,643
2020$324,876$19,827$21,435$17,30016—$17,576$16,900

Under IRS private-foundation payout rules, Richard Olivieri Family Foundation reported a distributable amount of $15K for 2024 — the minimum it must pay out in qualifying distributions.

Leadership & Key People

Officers and directors from IRS filings

Richard Olivieri Family Foundation's only listed officer is Michael V. Olivieri, Officer on every filing since 2020 (uncompensated).

Officers on the 2024 filing

  • Michael V. Olivieri

    Officer

    On filings since 2020

    No compensation reported

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 Richard Olivieri Family Foundation

How much does Richard Olivieri Family Foundation give each year?

Richard Olivieri Family Foundation gave $67K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $37K across 3 grants.

What is Richard Olivieri Family Foundation's typical grant size?

Richard Olivieri Family Foundation's median grant in 2024 was $7,900, and its average grant was $16,825, across 4 grants on its 2024 IRS Form 990-PF.

Where does Richard Olivieri Family Foundation give grants?

Richard Olivieri Family Foundation gives mostly in Virginia: 95% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Virginia Beach, VA (3 grants).

Does Richard Olivieri Family Foundation give general operating support?

Yes: 25% of Richard Olivieri Family Foundation's 2024 grants with a stated purpose (1 of 4) were for general or operating support, per its 2024 IRS Form 990-PF.

How large is Richard Olivieri Family Foundation?

Richard Olivieri Family Foundation reported $338K in total assets on its 2024 IRS Form 990-PF. It paid out $67K in qualifying distributions that year, against a required minimum of $15K (roughly 5% of its investment assets).

What is Richard Olivieri Family Foundation's EIN?

Richard Olivieri Family Foundation's EIN (Employer Identification Number) is 54-1308959. IRS Form 990 filing data is available on this page for 2020–2024.

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

Data update history

(1)

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal years 2020–2024

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Figures come from Richard Olivieri Family 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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