The Captain John Bag Hefti Memorial is a private foundation focused on Education, based in VIRGINIA BEACH, VA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $209K in total assets. In 2024, it awarded 12 grants totaling $23K. Net investment income was $5K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$209K
+10.3% YoY
Annual Giving
$23K
+76.9% YoY
Grant Count
12
+71.4% YoY
Avg Grant Size
$2K
+3.2% YoY
Under IRS private-foundation payout rules, The Captain John Bag Hefti Memorial reported a distributable amount of $10K for 2024 — the minimum it must pay out in qualifying distributions.
About The Captain John Bag Hefti Memorial
Based on IRS filings
The Captain John Bag Hefti Memorial is a private foundation focused on Education, based in VIRGINIA BEACH, VA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $209K in total assets. In 2024, it awarded 12 grants totaling $23K. Net investment income was $5K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $208,704 | $189,163 | $144,940 |
| Revenue | $84,822 | $106,109 | $177,590 |
| Expenses | $65,281 | $61,886 | $32,650 |
| Qualifying Distributions | $23,000 | $13,000 | — |
| Net Investment Income | $5,251 | $1,796 | $17 |
| Distributable Amount | $10,206 | $9,291 | $1,134 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
19 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Morale Welfare and Recreation ($5,000), J&a Racing Foundation ($2,500), J&a Racing Foundation ($2,500).
| Recipient | Purpose | Amount |
|---|---|---|
| MORALE WELFARE AND RECREATION PORTSMOUTH, VA | PROGRAM SERVICE INVESTMENT | $5,000 |
| J&A RACING FOUNDATION VIRGINIA BEACH, VA | PROGRAM SERVICE INVESTMENT | $2,500 |
| J&A RACING FOUNDATION VIRGINIA BEACH, VA | PROGRAM SERVICE INVESTMENT | $2,500 |
| IAN KNUDSON VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $2,000 |
| JAKE CARNELL VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $2,000 |
| TYLER KLINGER VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $2,000 |
| NATHAN DAVIS VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $2,000 |
| DOMINIC WILLIAMS VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $1,000 |
| CLARA FREEMAN VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $1,000 |
| LILLY TURNER VIRGINIA BEACH, VA | EDUCATIONAL ASSISTANCE | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PATRICIA HEFTI | PRESIDENT | — | — |
| GORDON TREY FAULKNER | SECRETARY | — | — |
| KATHLEEN FAULKNER | BOARD MEMBER | — | — |
| JAMES HEFTI | TREASURER | — | — |
| JOHN A HEFTI JR | BOARD MEMBER | — | — |
| ADAM HEFTI | BOARD MEMBER | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Captain John Bag Hefti Memorial?
The Captain John Bag Hefti Memorial is a private foundation focused on Education, based in VIRGINIA BEACH, VA. It holds $209K in total assets as of 2024.
How large is The Captain John Bag Hefti Memorial?
As of 2024, The Captain John Bag Hefti Memorial holds $209K in total assets with $85K in annual revenue. It awarded 12 grants totaling $23K in 2024.
Where does The Captain John Bag Hefti Memorial operate?
The Captain John Bag Hefti Memorial has awarded grants in Virginia.
What size grants does The Captain John Bag Hefti Memorial award?
In 2024, The Captain John Bag Hefti Memorial awarded 12 grants totaling $23K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is The Captain John Bag Hefti Memorial required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Captain John Bag Hefti Memorial reported a distributable amount of $10K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Captain John Bag Hefti Memorial's EIN?
The Captain John Bag Hefti Memorial's EIN (Employer Identification Number) is 87-2984176. IRS Form 990 filing data is available on this page for 2022–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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