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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
-100.0% YoY
Annual Giving
$8K
-34.8% YoY
Grant Count
2
+100.0% YoY
Avg Grant Size
$4K
-67.4% YoY
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.
About The George and Grace Dragas Family Foundation
Based on IRS filings
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.
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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 | — | $7,938,447 | $7,485,872 |
| Revenue | $1,053,367 | $250,018 | $218,110 |
| Expenses | $68,311 | $24,285 | $71,481 |
| Qualifying Distributions | $7,500 | $11,500 | $28,250 |
| Net Investment Income | $313,381 | $455,396 | $343,090 |
| Distributable Amount | $271,470 | $447,510 | $430,336 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
Grant Size Distribution
6 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Old Dominion University ($5,000), VA Beach Marine Center ($2,500).
| Recipient | Purpose | Amount |
|---|---|---|
| Old Dominion University Norfolk, VA | educational | $5,000 |
| VA Beach Marine Center VA Beach, VA | civic | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Helen E Dragas | Director | 1 | — |
| Lewis Warrington Webb IV | Director | 1 | — |
Frequently Asked Questions
Where does The George and Grace Dragas Family Foundation operate?
The George and Grace Dragas Family Foundation has awarded grants in Virginia.
What size grants does The George and Grace Dragas Family Foundation award?
In 2024, The George and Grace Dragas Family Foundation awarded 2 grants totaling $8K — an average of about $4K per grant, based on its IRS Form 990 filings.
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.
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Browse active grant opportunities in The George and Grace Dragas Family Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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