Town Foundation
Town Foundation is a private foundation, based in NORFOLK, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 5 grants totaling $78K. Net investment income was $112K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6M
+5.8% YoY
Annual Giving
$78K
+5.6% YoY
Grant Count
5
+150.0% YoY
Avg Grant Size
$16K
-57.8% YoY
Under IRS private-foundation payout rules, Town Foundation reported a distributable amount of $80K for 2024 — the minimum it must pay out in qualifying distributions.
About Town Foundation
Based on IRS filings
Town Foundation is a private foundation, based in NORFOLK, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 5 grants totaling $78K. Net investment income was $112K.
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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 | $1,646,754 | $1,556,683 | $1,501,824 |
| Revenue | $127,164 | $32,422 | $57,537 |
| Expenses | $97,777 | $92,072 | $83,434 |
| Qualifying Distributions | $81,029 | $76,894 | $68,399 |
| Net Investment Income | $111,972 | $31,467 | $43,101 |
| Distributable Amount | $79,720 | $74,398 | $76,883 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
Grant Size Distribution
13 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Old Dominion University ($29,400), Norfolk State University ($25,000), James Madison University ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| OLD DOMINION UNIVERSITY NORFOLK, VA | SCHOLARSHIPS | $29,400 |
| JAMES MADISON UNIVERSITY HARRISONBURG, VA | SCHOLARSHIPS | $20,000 |
| NORFOLK STATE UNIVERSITY NORFOLK, VA | SCHOLARSHIPS | $25,000 |
| TIDEWATER COMMUNITY COLLEGE NORFOLK, VA | SCHOLARSHIPS | $3,750 |
| CATHOLIC HIGH SCHOOL VIRGINIA BEACH, VA | GRANT | $100 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| YVONNE T ALLMOND | PRESIDENT | — | — |
| WILSON B DODSON | V/P | — | — |
| BRUCE LONGMAN | TREASURER | — | — |
| KAY R EGAN | SECRETARY | — | — |
| SUSAN LONGMAN | DIRECTOR | — | — |
| RAMIN ALIMARD | DIRECTOR | — | — |
| HOWARD E GORDON | DIRECTOR | — | — |
| JOSEPH ROBBINS | DIRECTOR | — | — |
Frequently Asked Questions
How large is Town Foundation?
As of 2024, Town Foundation holds $1.6M in total assets with $127K in annual revenue. It awarded 5 grants totaling $78K in 2024.
Where does Town Foundation operate?
Town Foundation has awarded grants in Virginia.
What size grants does Town Foundation award?
In 2024, Town Foundation awarded 5 grants totaling $78K — an average of about $16K per grant, based on its IRS Form 990 filings.
How much is Town Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Town Foundation reported a distributable amount of $80K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Town Foundation's EIN?
Town Foundation's EIN (Employer Identification Number) is 54-1442707. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Town 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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