The Charles Fund Inc
The Charles Fund Inc is a private foundation based in Charlottesville, Virginia. It makes grants to organizations, generally for their stated general purposes; its 2024 filing says it has no direct charitable activities or program-related investments.
The Charles Fund Inc at a glance
In short: The Charles Fund Inc gave $584K across 80 grants in 2025 (avg $7K), mostly in Virginia. 1% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $584,000
- +16.5% vs 2024
- Grants made (2025)
- 80
- -1.2% vs 2024
- Average grant
- $7,300
- +17.9% vs 2024
- Median grant
- $500
- Total assets
- $8,415,795
- -0.1% vs 2024
- New grantees (estimate)
- 1% first-time grantees (1 of 80, 2025)
- Primary geography
- Virginia (66% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Charles Fund Inc
- How to Apply
-
The foundation does not restrict giving to preselected organizations. The filing says to contact J. Walker Richmond III and identifies contacting him as the form and materials process. It makes no grants to individuals or other private foundations.
- Contact
Application contact: J Walker Richmond Iii
Mailing address: 250 E High Street, Charlottesville, VA 22902-5177
Phone: (434) 293-8191
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Charles Fund Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Rochester Museum and Science Center ($65K). Together the top 10 received $420K.
Grant Size Distribution
417 grants across all recorded years
The most common grant size was under $50K: 395 grants of 417 (95%).
Geographic Focus
Where this funder awards grants
In 2025, 66% of grant dollars went to recipients in Virginia and 34% to recipients in New York; the reported share for New Jersey was 0%. Listed recipients included organizations in Charlottesville, Orange, and Staunton, Virginia, and Rochester and Mumford, New York.
Grant Distribution by State
Share of 2025 grant dollars across all 80 itemized grants.
Cities
Is The Charles Fund Inc open to new grantees?
1%
first-time grantees, 2025
In 2025, 1 of 80 grantees (1%) were first-time recipients. First grants averaged $250; repeat grants $7K. How we count
Medians: $250 first-time, $500 repeat.
- 95% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−3%). Method
- In 2025 it paid out 109% 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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $502K (2024) to $603K (2022). In 2025 it made 80 grants totaling $584K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Rochester Museum and Science Center Rochester, NY | General Purposes of Donee | $65,000 |
| Genesee Country Village & Museum Mumford, NY | General Purposes of Donee | $60,000 |
| Montpelier Foundation Orange, VA | General Purposes of Donee | $60,000 |
| American Frontier Cultural Foundation Staunton, VA | General Purposes of Donee | $50,000 |
| Hillside Family of Agencies Rochester, NY | General Purposes of Donee | $50,000 |
| Jefferson Area Board for Aging Charlottesville, VA | General Purposes of Donee | $30,000 |
| Shenandoah National Park Trust Charlottesville, VA | General Purposes of Donee | $30,000 |
| Martha Jefferson Hospital Foundation Charlottesville, VA | General Purposes of Donee | $25,000 |
| Thomas Jefferson Foundation Charlottesville, VA | General Purposes of Donee | $25,000 |
| Uncommon Schools Rochester Prep Rochester, NY | General Purposes of Donee | $25,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $8,415,795 | $701,282 | $707,425 | $584,000 | 80 | $656,973 | $662,035 | $600,733 |
| 2024 | $8,421,938 | $615,480 | $600,225 | $501,500 | 81 | $558,674 | $577,709 | $565,539 |
| 2023 | $8,406,683 | $403,176 | $628,079 | $526,500 | 82 | $589,356 | $366,876 | $508,331 |
| 2022 | $8,631,586 | $496,504 | $702,696 | $603,000 | 85 | $654,664 | $462,054 | $519,421 |
| 2021 | $8,837,778 | $779,461 | $616,525 | $530,500 | 89 | $576,598 | $749,787 | $599,807 |
| 2020 | $8,674,842 | $548,136 | $616,363 | $544,500 | 81 | — | $521,793 | $513,309 |
Under IRS private-foundation payout rules, The Charles Fund Inc reported a distributable amount of $601K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants included organizations working in areas such as museums and history, park preservation, healthy aging, hospice care, child and family health, student volunteering, youth mentoring and technology, and food assistance. These are grantees’ activities, not stated focus areas of the foundation. For example, Montpelier Foundation describes its work as a museum of American history and a center for constitutional education, while Hospice of the Piedmont says it guides life’s final journey with expertise and empathy.
Grantmaking
In 2025, the foundation made 80 grants totaling $584,000. Grants ranged from $150 to $65,000, with a median of $500. The largest grants included $65,000 to Rochester Museum and Science Center, $60,000 each to Genesee Country Village & Museum and Montpelier Foundation, and $50,000 each to American Frontier Cultural Foundation and Hillside Family of Agencies. The filing lists the purpose of these grants as “general purposes of donee.”
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists J. Walker Richmond III as president and secretary; Joseph W. Richmond Jr. as vice president and treasurer; Gregory Carver and Timothy Alexander as vice presidents; and Betsy Carver, Deborah Maggs, Anne M. Farnham, James Farnham, Shari Belanger, and Sarah Riley as directors.
The Charles Fund Inc is led by J. Walker Richmond III, President & Secretary since 2024 (on filings since 2020); all 10 officers listed in 2025 are compensated.
Officers on the 2025 filing
J. Walker Richmond III
President & Secretary
Secretary & Treasurer → President, 2023
President → President & Secretary, 2024
On filings since 2020
15 hrs/week
$2K (2020) → $40K (2025)
Anne M. Farnham
Director
On filings since 2020
1 hr/week
$2K (2020) → $2K (2025)
Betsy Carver
Director
Vice President → Director, 2024
On filings since 2020
1 hr/week
$2K (2020) → $2K (2025)
Deborah Maggs
Director
Vice President → Director, 2024
On filings since 2020
1 hr/week
$2K (2020) → $2K (2025)
James Farnham
Director
On filings since 2024
1 hr/week
$2K (2024) → $2K (2025)
Sarah Riley
Director
On filings since 2024
1 hr/week
$2K (2024) → $2K (2025)
Shari Belanger
Director
On filings since 2024
1 hr/week
$2K (2024) → $2K (2025)
Gregory Carver
Vice President
Director → Vice President, 2024
On filings since 2020
1 hr/week
$2K (2020) → $2K (2025)
Joseph W. Richmond Jr.
Vice President & Treasurer
President → Director, 2023
Director → Vice President & Treasurer, 2024
On filings since 2020
5 hrs/week
$31K (2020) → $2K (2025)
Timothy Alexander
Vice President
Director → Vice President, 2024
On filings since 2020
1 hr/week
$2K (2020) → $2K (2025)
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $40K, to J Walker Richmond III (President and Secretary). 10 officers or directors reported compensation on that filing.
Frequently asked questions about The Charles Fund Inc
How much does The Charles Fund Inc give each year?
The Charles Fund Inc gave $584K across 80 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $502K across 81 grants.
What is The Charles Fund Inc's typical grant size?
The Charles Fund Inc's median grant in 2025 was $500, and its average grant was $7,300, across 80 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Charles Fund Inc that year got $250 on average.
Where does The Charles Fund Inc give grants?
The Charles Fund Inc gives mostly in Virginia: 66% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New York (34%). The most frequent recipient cities were Charlottesville, VA (59 grants), Rochester, NY (3 grants), Staunton, VA (2 grants) and Richmond, VA (2 grants).
Does The Charles Fund Inc give general operating support?
Yes: 100% of The Charles Fund Inc's 2025 grants with a stated purpose (80 of 80) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Charles Fund Inc's largest grantees?
The Charles Fund Inc's largest 2025 grantees include Rochester Museum and Science Center ($65,000), Genesee Country Village & Museum ($60,000) and Montpelier Foundation ($60,000), according to its 2025 IRS Form 990-PF. Together they received 32% of its itemized 2025 grant dollars.
How large is The Charles Fund Inc?
The Charles Fund Inc reported $8.4M in total assets on its 2025 IRS Form 990-PF. It paid out $657K in qualifying distributions that year, against a required minimum of $601K (roughly 5% of its investment assets).
What does The Charles Fund Inc fund?
No mission statement for the foundation is provided. Its 2025 grants included organizations working in areas such as museums and history, park preservation, healthy aging, hospice care, child and family health, student volunteering, youth mentoring and technology, and food assistance. See mission & focus areas ↑
How do I apply for a grant from The Charles Fund Inc?
The foundation does not restrict giving to preselected organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Charles Fund Inc's EIN?
The Charles Fund Inc's EIN (Employer Identification Number) is 16-8064401. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 11, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 5, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 16, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS March 31, 2026)
- IRS filings on file for fiscal years 2020–2025
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Cite this profile
Grantable. (2026). The Charles Fund Inc funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/the-charles-fund-inc-morg_545fc47e8ece460f921df0f3a2adbf42
BibTeX
@misc{grantable_168064401_2026,
author = {{Grantable}},
title = {{The Charles Fund Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-charles-fund-inc-morg_545fc47e8ece460f921df0f3a2adbf42},
note = {Accessed 2026-10-17. 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 The Charles Fund Inc'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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