THE COMMUNITY FOUNDATION INC

EIN: 237009135 501(c)(3) Philanthropy & Grantmaking

RICHMOND, VA

Total Revenue
$119,331,194
Total Expenses
$84,410,014
Total Assets
$800,875,567
Net Assets
$730,543,014
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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
VA
Principal Officer
SHERRIE ARMSTRONG
Phone
8043307400
Tax Period
2023-01-01 to 2023-12-31

THE COMMUNITY FOUNDATION INC, founded in 1968, is a major nonprofit in the Philanthropy & Grantmaking sector that reported $119.3M in total revenue in fiscal year 2023. Revenue surged 62% from the prior year, signaling strong growth momentum. The organization ran a surplus of $34.9M, a strong 29% operating margin.

Mission

WE BRING PEOPLE TOGETHER TO TRANSFORM OUR COMMUNITY THROUGH INFORMED AND INSPIRED PHILANTHROPY.

Program Service Accomplishments

Program 1
Expenses: $26,599,422 Revenue: $0

HEALTH & WELLNESS: TOGETHER, WE WANT TO ENSURE THAT RESIDENTS HAVE ACCESS TO COMPREHENSIVE AND COORDINATED PREVENTIVE SERVICES AND QUALITY HEALTH CARE. RESIDENTS ARE CONNECTED TO RESOURCES THAT MEET...

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HEALTH & WELLNESS: TOGETHER, WE WANT TO ENSURE THAT RESIDENTS HAVE ACCESS TO COMPREHENSIVE AND COORDINATED PREVENTIVE SERVICES AND QUALITY HEALTH CARE. RESIDENTS ARE CONNECTED TO RESOURCES THAT MEET THEIR HEALTH, NUTRITIONAL, AND SAFETY NEEDS. STRATEGIC FOCUS AREAS INCLUDE:- ACCESS TO PRIMARY HEALTH CARE: OPERATING SAFETY NET CLINICS; FACILITATING USE OF A MEDICAL HOME; OFFERING MEDICAL-RELATED HOME VISITATION; OFFERING WRAPAROUND SERVICES TO MAINTAIN HEALTH; PROVIDING MENTAL HEALTH SERVICES.- BASIC PHYSICAL HEALTH: FACILITATING ACCESS TO FOOD AND NUTRITION; PROMOTING REGULAR PHYSICAL ACTIVITY; TEACHING HEALTH EDUCATION.- TARGETED INTERVENTIONS: OFFERING TRAUMA-INFORMED CARE; IMPROVING AND SUSTAINING THE QUALITY OF LIFE FOR OLDER ADULTS.

Program 2
Expenses: $12,943,955 Revenue: $0

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...

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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.

Program 3
Expenses: $8,666,281 Revenue: $45,313

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...

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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.- 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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $68,468,152
Program Service Revenue $744,423
Investment Income $49,979,501
Other Revenue $139,118
TOTAL REVENUE $119,331,194

Expense Breakdown

Grants Paid $62,365,520
Salaries & Benefits $6,950,203
Fundraising Expenses $1,813,744
Program Expenses $73,682,852
Other Expenses $15,094,291
TOTAL EXPENSES $84,410,014

Year-over-Year Comparison

2023 2022 Change
Revenue $119,331,194 $73,819,755 +0.6%
Expenses $84,410,014 $72,125,488 +0.2%
Net Income $34,921,180 $1,694,267 +19.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
21
Employees
72
Volunteers
13464

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$807,864
Total Directors
21
$0
Key Employees
3
$712,843
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER HUNTER CHAIR 1.00
Officer Director
$0 $0 $0
VICTOR K BRANCH VICE CHAIR 1.00
Officer Director
$0 $0 $0
JOHN E KEMPER TREASURER 1.00
Officer Director
$0 $0 $0
CARTER M REID SECRETARY 1.00
Officer Director
$0 $0 $0
AUSTIN BROCKENBROUGH IV IMM. PAST CHAIR THROUGH 12/31/2023 1.00
Officer Director
$0 $0 $0
CHARLES E AGEE III BOARD MEMBER 1.00
Director
$0 $0 $0
NEIL AMIN BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS I BARKIN BOARD MEMBER 1.00
Director
$0 $0 $0
MANJU S GANERIWALA BOARD MEMBER 1.00
Director
$0 $0 $0
J CONRAD GARCIA BOARD MEMBER 1.00
Director
$0 $0 $0
SHERYL L GARLAND BOARD MEMBER 1.00
Director
$0 $0 $0
KRISSY M GATHRIGHT BOARD MEMBER 1.00
Director
$0 $0 $0
PHILIP H GOODPASTURE BOARD MEMBER THROUGH 12/31/2023 1.00
Director
$0 $0 $0
KRISTEN FRANCES HAGER BOARD MEMBER 1.00
Director
$0 $0 $0
TRICIA L HARPER BOARD MEMBER 1.00
Director
$0 $0 $0
TERRELL L HARRIGAN BOARD MEMBER 1.00
Director
$0 $0 $0
MARK J HOURIGAN BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICIA MERRILL BOARD MEMBER 1.00
Director
$0 $0 $0
KEITH MIDDLETON BOARD MEMBER 1.00
Director
$0 $0 $0
PAULA P PANDO EDD BOARD MEMBER 1.00
Director
$0 $0 $0
JAYME SWAIN BOARD MEMBER 1.00
Director
$0 $0 $0
SHERRIE ARMSTRONG PRESIDENT & CEO 40.00
Officer
$484,280 $64,424 $548,704
MICHELLE A NELSON CHIEF FINANCIAL OFFICER 40.00
Officer
$231,823 $27,337 $259,160
EMMETT S BLACKWELL CHIEF COMMUNITY IMPACT OFFICER 40.00
Key Emp
$262,472 $19,869 $282,341
CASSANDRA EMERY CHIEF OPERATING OFFICER 40.00
Key Emp
$219,924 $10,828 $230,752
MAURA D BITTNER CHIEF PHILANTHROPY OFFICER 40.00
Key Emp
$184,509 $15,241 $199,750
KATHERINE BUSSER VP, INFORMATION SYSTEMS 40.00
Highest
$172,014 $13,658 $185,672
KIMBERLY RUSSELL SENIOR VP, MARKETING 40.00
Highest
$156,292 $15,413 $171,705
VANESSA DIAMOND SENIOR VP, CIVIC ENGAGEMENT 40.00
Highest
$160,806 $8,040 $168,846
AUDREY TRUSSELL VP, COMMUNITY IMPACT 40.00
Highest
$132,067 $13,119 $145,186
ANN PAYES CEO, THRIVE BIRTH TO FIVE 40.00
Highest
$136,358 $23,453 $159,811
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $119,331,194 $84,410,014 $800,875,567 $34,921,180
2022 $73,819,755 $72,125,488 $758,876,612 $1,694,267
2021 $152,790,051 $60,505,950 $859,349,771 $92,284,101
2020 $105,713,468 $62,681,275 $688,434,234 $43,032,193
2019 $65,892,800 $52,904,523 $594,098,436 $12,988,277
2018 $61,869,688 $42,046,875 $529,939,097 $19,822,813
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