The George and Grace Dragas Family Foundation
The George and Grace Dragas Family Foundation is a private foundation, based in Virginia Beach, VA. IRS filing data is available from 2020 through 2024. In 2024, it awarded 2 grants totaling $8K. Net investment income was $313K.
The George and Grace Dragas Family Foundation at a glance
In short: The George and Grace Dragas Family Foundation gave $8K across 2 grants in 2024 (avg $4K), mostly in Virginia. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $7,500
- -34.8% vs 2023
- Grants made (2024)
- 2
- +100.0% vs 2023
- Average grant
- $3,750
- -67.4% vs 2023
- Median grant
- $3,750
- Primary geography
- Virginia (100% 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 The George and Grace Dragas Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
The largest 2024 recipient was Old Dominion University ($5K). Together the top 2 received $8K.
Grant Size Distribution
6 grants across all recorded years
The most common grant size was under $50K: 4 grants of 6 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 2 itemized grants.
States
Cities
How The George and Grace Dragas Family Foundation gives
- Giving fell 99% from 2021 to 2024. Method
- In 2024 it paid out 3% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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
From 2020 to 2024, annual grant giving ranged from $8K (2024) to $827K (2021). In 2024 it made 2 grants totaling $8K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Old Dominion University Norfolk, VA | educational | $5,000 |
| VA Beach Marine Center VA Beach, VA | civic | $2,500 |
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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 | — | $1,053,367 | $68,311 | $7,500 | 2 | $7,500 | $313,381 | $271,470 |
| 2023 | $7,938,447 | $250,018 | $24,285 | $11,500 | 1 | $11,500 | $455,396 | $447,510 |
| 2022 | $7,485,872 | $218,110 | $71,481 | $28,250 | 1 | $28,250 | $343,090 | $430,336 |
| 2021 | $7,227,587 | $228,325 | $841,016 | $826,750 | 1 | $826,750 | $1,093,683 | $461,318 |
| 2020 | $6,955,206 | $213,583 | $737,090 | $708,250 | 1 | — | $186,342 | $401,987 |
Under IRS private-foundation payout rules, The George and Grace Dragas Family Foundation reported a distributable amount of $271K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The George and Grace Dragas Family Foundation's 2024 filing lists 2 officers; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Helen E Dragas
Director
On filings since 2020
1 hr/week
No compensation reported
Lewis Warrington Webb IV
Director
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (4)
- Former: Anita D Weaver (2020–2023) — Director
- Former: Jennifer D Stedfast (2020–2023) — Director
- Former: Mary D Shearin (2020–2023) — Director
- Former: Grace V Dragas (2020–2021) — Director
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 The George and Grace Dragas Family Foundation
How much does The George and Grace Dragas Family Foundation give each year?
The George and Grace Dragas Family Foundation gave $8K across 2 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $12K across 1 grant.
Where does The George and Grace Dragas Family Foundation operate?
The George and Grace Dragas Family Foundation has awarded grants in Virginia.
How much is The George and Grace Dragas Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The George and Grace Dragas Family Foundation reported a distributable amount of $271K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The George and Grace Dragas Family Foundation's EIN?
The George and Grace Dragas Family Foundation's EIN (Employer Identification Number) is 54-1569136. 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
- IRS filings on file for fiscal years 2020–2024
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