The Community Foundation Inc
89% goes to programs $3 to raise $100 Strong reserves Declining revenue
The Community Foundation Inc is a 501(c)(3) organization based in Richmond, Virginia, registered in 1970, with $101,658,764 in FY2024 revenue. CharityIndex grades it A, and it directs about 89% of spending to programs.
3409 Moore St, Richmond, VA, 23230 EIN 23-7009135 Since 1970
Revenue (FY2024)
$101.7M
▼ 14.8% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$85.1M
Net assets
$784.6M
Employees
78
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating89% to programs · $3 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For The Community Foundation Inc: 89% to programs · $3 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating111 mo reserves · +16% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For The Community Foundation Inc: 111 mo reserves · +16% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For The Community Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For The Community Foundation Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
We bring people together to transform our community through informed and inspired philanthropy.
What they do
Educational success: together, we want to ensure that children begin school ready to learn and are supported academically and socially throughout their educational experience. youth become skilled, self-sufficient and contributing members of the community. strategic focus areas include:- kindergarten readiness: ensuring access to quality preschool and childcare; offering child development-related home visitation; engaging parents and caregivers.- k-12 academic success: supporting students by increasing the quality or capacity of in-school resources; teaching positive behavior and self-management skills; engaging parents and caregivers.- college and/or career readiness: developing youth to enter the workforce; increasing access and exposure to post-secondary opportunities.
Economic prosperity, capacity building, and other: together, we want to ensure that residents access and maintain safe and affordable housing in thriving, sustainable communities. residents gain the financial knowledge, skills, and resources to support themselves and are able to access to career and economic opportunities. strategic focus areas include:- neighborhood development: building household income, financial stability, and wealth; revitalizing neighborhoods; engaging residents to self-advocate.- adult workforce development: training and education that leads to workforce preparation, certifications, credentials, and degrees; reducing employment barriers; increasing access to transportation and wraparound services to maintain employment.- homelessness reduction: avoiding homelessness through shelter diversion; providing emergency shelter; facilitating rapid re-housing and exits to permanent housing.- safe & affordable housing: creating housing units or preserving affordability of existing units; offering wraparound services to maintain housing; assisting older adults to age in place.
Community vibrancy: together, we want to ensure that residents are enriched and educated through a diverse offering of arts and cultural activities in their communities and schools. the region's historic, cultural, and natural assets are supported to enrich current and future areas. strategic focus areas include:- arts & culture: providing access to programs for low to modest-wealth residents and school-aged youth; offering education and events that appeal to diverse and multi-generational audiences.- national resources: providing access to natural resources and sustaining our environment through education, preservation, and restoration.- community inclusion: fostering community inclusion and connectivity; facilitating volunteer and civic engagement opportunities.all other: this includes grants given to the region through donor advised funds and field of interest funds outside of the scope of our 4 focus areas. the majority of grants are to animal welfare, religious, and environmental purposes.
Contact & location
- Address
- 3409 Moore St, Richmond, VA, 23230
- City
- Richmond
- State
- Virginia
- Subcategory
- Public Foundations
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $61.9M (FY2013) to $101.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $67.8MNet assets $784.6M
Operating margin
16.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$852.4M
Total liabilities
$67.8M
Net assets
$784.6M
Salaries & benefits
$7.0M
8% of expenses
Board members
21
20 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $101,658,764▼14.8% | $85,106,726▲0.8% | $784,586,852▲7.4% | $852,363,551▲6.4% | 990 |
| 2023 | $119,331,194▲61.7% | $84,410,014▲17.0% | $730,543,014▲4.7% | $800,875,567▲5.5% | 990 |
| 2022 | $73,819,755▼51.7% | $72,125,488▲19.2% | $697,887,957▼12.3% | $758,876,612▼11.7% | 990 |
| 2021 | $152,790,051▲44.5% | $60,505,950▼3.5% | $795,878,321▲26.0% | $859,349,771▲24.8% | 990 |
| 2020 | $105,713,468▲60.4% | $62,681,275▲18.5% | $631,879,748▲21.4% | $688,434,234▲15.9% | 990 |
| 2019 | $65,892,800▲6.5% | $52,904,523▲25.8% | $520,676,551▲11.8% | $594,098,436▲12.1% | 990 |
| 2018 | $61,869,688▲58.8% | $42,046,875▲2.7% | $465,619,160▼2.2% | $529,939,097▼2.6% | 990 |
| 2017 | $38,952,342▼12.7% | $40,927,134 | $476,213,947▲10.8% | $543,920,142▲10.5% | 990 |
| 2016 | $44,615,573▼56.5% | $40,918,889▼0.8% | $429,662,398▲2.3% | $492,092,439▲2.2% | 990 |
| 2015 | $102,485,760▲134% | $41,244,752▲29.8% | $420,156,604▲16.1% | $481,484,377▲13.4% | 990 |
| 2014 | $43,813,303▼29.2% | $31,772,707▼0.6% | $361,943,983▲6.6% | $424,732,549▲5.4% | 990 |
| 2013 | $61,918,929 | $31,956,609▲25.5% | $339,399,178▲20.7% | $403,118,648▲19.9% | 990 |
| 2012 | — | $25,462,137 | $281,157,975 | $336,292,875 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Sherrie Armstrong — $443,614 (0.52% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Sherrie Armstrong | President & Ceo | 40 | $443,614 |
| Cassandra Emery | Chief Operating Officer | 40 | $289,140 |
| Michelle A Nelson | Chief Financial Officer | 40 | $252,172 |
| Katherine Busser | Vp, Information Systems | 40 | $204,416 |
| Kimberly Russell | Senior Vp, Marketing | 40 | $188,181 |
| Vanessa Diamond | Senior Vp, Civic Engagement | 40 | $187,113 |
| Maura D Bittner | Chief Philanthropy Officer | 40 | $185,652 |
| Audrey Trussell | Vp, Community Impact | 40 | $143,482 |
| Lauren Shephard | Vp, Finance and Controller | 40 | $139,890 |
| Emmett S Blackwell | Senior Consultant / Former Key Empl | 40 | $127,310 |
| Carter M Reid | Secretary | 1 | — |
| Charles E Agee III | Board Member | 1 | — |
| Jamelle Wilson | Board Member | 1 | — |
| Jayme Swain | Board Member | 1 | — |
| J Conrad Garcia | Board Member | 1 | — |
| Jennifer Hunter | Chair | 1 | — |
| John E Kemper | Treasurer | 1 | — |
| Keith Middleton | Board Member | 1 | — |
| Krissy M Gathright | Board Member | 1 | — |
| Kristen Frances Hager | Board Member Through 12/31/2024 | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Spider Management Company LLC | Investment Management | $2,709,641 |
| West Cary Group LLC | Website Consultant | $237,650 |
| Veronica Felming Consulting | Regional Priorities Consultant | $157,207 |
| Moss Adams LLP | Auditing & Tax Services | $142,800 |
Grants received · $21.6M total
68 grants to The Community Foundation Inc totaling $21.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| The Pauley Family Foundation | Unrestricted support | 2024 | $449,269 |
| Commonwealth Foundation For Cancer Research Foundation | Unrestricted support | 2024 | $57,450 |
| American Online Giving Foundation Inc | General support | 2024 | $8,260 |
| Virginia Early Childhood Foundation | Childhood/educational development | 2023 | $11,095,612 |
| The Pauley Family Foundation | Unrestricted support | 2023 | $383,454 |
| Donor Advised Charitable Giving | Public, societal benefit | 2023 | $90,000 |
| The Pauley Family Foundation | General operating funds to support system support for expansion and high quality early childhood education | 2023 | $75,000 |
| Commonwealth Foundation For Cancer Research Foundation | Unrestricted support | 2023 | $57,450 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $47,532 |
| The Community Foundation of Louisville Inc | T31 community foundations | 2023 | $38,617 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $25,000 |
| American Online Giving Foundation Inc | General support | 2023 | $16,260 |
| Community Foundation of Greater Greensboro Inc | General support | 2023 | $10,000 |
| National Philanthropic Tr | Health | 2023 | $8,000 |
| Virginia Early Childhood Foundation | Childhood/educational development | 2022 | $4,727,489 |
Grants made · $61.8M in FY2024
917 grants totaling $61.8M in FY2024 — showing the 15 largest. All grants made by The Community Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| National Fish and Wildlife Foundation | General purposes | $1,795,000 |
| Anna Julia Cooper School | Educational success | $1,722,963 |
| Better Housing Coalition | Economic prosperity | $1,470,029 |
| The Maggie@walker Community Land Trust | Economic prosperity | $1,157,250 |
| Elderhomes Corp | Health and wellness | $1,135,000 |
| Virginia Student Aid Foundation | Educational success | $1,028,474 |
| City of Hope | Health and wellness | $1,000,000 |
| United Way of Greater Richmond | Economic prosperity | $997,294 |
| Communities In Schools of Richmond Inc | Health and wellness | $844,039 |
| Ask Childhood Cancer Foundation | Health and wellness | $835,044 |
| Medical College of Virginia Foundation | Health and wellness | $813,907 |
| Virginia Museum of Fine Arts Foundation | Community vibrancy | $636,900 |
| Local Initiatives Support Corporation | Economic prosperity | $550,000 |
| Young Mens Christian Association of Greater Richmond | Community vibrancy | $502,945 |
| Naples Community Hospital Inc | Health and wellness | $500,000 |
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Compare The Community Foundation Inc
Frequently asked questions
- Is The Community Foundation Inc a legitimate nonprofit?
- Yes. The Community Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7009135, based in Richmond, Virginia. Donations are tax-deductible.
- What is The Community Foundation Inc's EIN?
- The Community Foundation Inc's Employer Identification Number (EIN) is 23-7009135.
- How much revenue does The Community Foundation Inc report?
- The Community Foundation Inc reported $101,658,764 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of The Community Foundation Inc's spending goes to programs?
- The Community Foundation Inc spends about 89% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does The Community Foundation Inc have?
- CharityIndex grades The Community Foundation Inc A, based on program efficiency and fundraising cost.
- How much does The Community Foundation Inc's highest-paid employee make?
- The highest reported compensation on The Community Foundation Inc's latest Form 990 is $443,614, paid to Sherrie Armstrong (President & Ceo).
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Data for The Community Foundation Inc (EIN 23-7009135) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.