Victoria Foundation Inc
Victoria Foundation Inc is one of America's oldest private foundations, incorporated in 1924 in New Jersey and founded by Hendon Chubb, former CEO of Chubb Insurance Company. The foundation was named after Chubb's mother, Victoria Eddis Chubb. Based in Newark, New Jersey, Victoria Foundation is a 501(c)(3) organization that has evolved from providing direct assistance to individuals in need through the 1950s to focusing on systemic change and community empowerment in Newark and surrounding regions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$334.7M
+9.8% YoY
Annual Giving
$12.8M
+11.3% YoY
Grant Count
148
-5.7% YoY
Avg Grant Size
$87K
+18.0% YoY
Mission & Focus Areas
Mission Statement
Victoria Foundation partners with Black and Brown residents and other marginalized communities in Newark and nonprofit organizations to champion bold strategies that strengthen community power, foster economic justice, promote youth self-determination, and respond to pressing needs.
Vision Statement
Victoria Foundation envisions a thriving Newark where residents are self-determining, liberated, and connected, with plentiful opportunities to advance community voices and visions.
Core Values
- Trust: Prioritizing relationships over transactions and supporting Newark residents' ability to determine their own needs
- Respect: Recognizing the inherent worth and dignity of all individuals
- Courage: Reimagining traditional philanthropic practices to innovatively support local visionaries
- Solidarity: Working side-by-side with Black and Brown residents and marginalized communities
- Anti-Racism: Building equity-centered internal culture and actively dismantling structural racism
Primary Funding Areas
The foundation focuses on:
- Children and youth development
- Arts and culture
- Education (including early childhood and elementary education)
- Environment and water resource protection
- Community and economic development
- Human services
- Youth agencies and leadership development
- Urban problems and social justice issues
- Racial and ethnic group rights
- Sustainable urban development
Grantmaking
Recent grants include:
Average Grant
**: Approximately $73,000
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Geographic Focus
Where this funder awards grants
Victoria Foundation primarily funds organizations in:
- Primary focus: Newark, New Jersey
- Secondary focus: New Jersey statewide (particularly for environmental projects)
- Regional reach: New York, Pennsylvania, Illinois, and Maryland
- 99% of grants are concentrated in New Jersey, New York, and Maryland
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024)
- Total Assets: $334,731,480
- Total Revenue: $19,591,024
- Total Expenses: $17,196,484
- Net Income: $2,394,540
- Total Liabilities: $0
Historical Asset Growth
- 2011: $196.8 million
- 2023: $304.9 million
- 2024: $334.7 million
Total Giving
- 2024 Total Giving: $12,848,250
Tax Status
- EIN: 22-1554541
- Tax-Exempt Status: Since November 1936
- Organization Type: 501(c)(3) Private Foundation
- Donations: Tax-deductible
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $334,731,480 | $304,923,310 | $286,975,851 |
| Revenue | $19,591,024 | $7,638,713 | $3,354,675 |
| Expenses | $17,196,484 | $15,298,215 | $15,795,242 |
| Qualifying Distributions | $16,194,686 | $14,479,536 | $14,912,114 |
| Net Investment Income | $18,709,021 | $6,891,741 | $4,250,477 |
| Distributable Amount | $16,058,782 | $14,321,665 | $14,756,993 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Directors
- Frank Alvarez – President
- Margaret Parker – Vice President
- Gary Wingens – Treasurer
- Sarah Chubb Sauvayre – Secretary
- A. Zachary Yamba – Trustee Emeritus
- Henry Amoroso
- Ana Baptista
- Amina Bey
- Sally Chubb
- Robert Clark
- Robert Holmes
- Franklin Parker
- John Parker
- Sara Pena
- Denise Rodgers
- Bei Saville
- Aqeela Sherrills
Staff
- Craig Drinkard – Executive Officer and Assistant Secretary
- Sharnita C. Johnson – Vice President of Strategy, Impact and Communications
- Diana Kostas – Chief Financial Officer
- Stephanie Greenwood – Senior Strategy Officer for Economic Justice
- Candace Johnson – Executive Assistant/Board Liaison
- Erin Johnstone – Director of Grants Management
- Hyacinth Watkins – Accountant
- Mamasa Dukureh – Program Fellow
- William G. Simpson II – Strategy Officer, Strengthen Community Power
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| FRANK ALVAREZ | PRESIDENT | 5 | — |
| MARGARET H PARKER | 1ST VICE PRESIDENT | 2 | — |
| ROBERT CLARK | 2ND VICE PRESIDENT | 2 | — |
| GARY M WINGENS | TREASURER | 2 | — |
| SARAH CHUBB SAUVAYRE | SECRETARY | 2 | — |
| HENRY AMOROSO | TRUSTEE | 2 | — |
| ANA BAPTISTA | TRUSTEE | 2 | — |
| AMINA BEY | TRUSTEE | 2 | — |
| SALLY CHUBB | TRUSTEE (THRU 01/29/2024) | 2 | — |
| ROBERT HOLMES ESQ | TRUSTEE (THRU 06/18/2024) | 2 | — |
| FRANKLIN E PARKER IV | TRUSTEE | 2 | — |
| JOHN F PARKER | TRUSTEE | 2 | — |
| SARA PENA | TRUSTEE | 2 | — |
| DENISE RODGERS | TRUSTEE | 2 | — |
| BEI SAVILLE | TRUSTEE | 2 | — |
| AQEELA SHERRILLS | TRUSTEE | 2 | — |
| CRAIG L DRINKARD | EXECUTIVE OFFICER & ASST. SECRETARY | 50 | $440,595 |
| DE'SHAWN WRIGHT | TRUSTEE (FROM 6/18/2024) | 2 | — |
Contact Information
Address: 550 Broad Street, Suite 1402 Newark, NJ 07102
Phone: 973-792-9200
Email: info@victoriafoundation.org
Website: www.victoriafoundation.org
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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