The Community Foundation for a Greater Richmond
Legal name: The Community Foundation Inc
Nonprofit profile at a glance
- EIN
- 237009135
- IRS 990 coverage
- 2012–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Richmond, VA, US
- Phone
- (804) 330-7400
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Community Foundations
Reported finances
- Revenue
- $101,658,764
- Expenses
- $85,106,726
- Assets
- $852,363,551
- Liabilities
- $67,776,699
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
31 people listed
Executive titles in this filing
- SHERRIE ARMSTRONG (PRESIDENT & CEO)
Highest reported compensation
- SHERRIE ARMSTRONG (PRESIDENT & CEO): $500,898 total reported compensation
- CASSANDRA EMERY (CHIEF OPERATING OFFICER): $301,733 total reported compensation
- MICHELLE A NELSON (CHIEF FINANCIAL OFFICER): $276,999 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Connecting Community. Championing Changemakers.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Donor-supported. 65% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 78
- Accountability: 97
- Sustainability: 81
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94%; rating input score 94
- Program expense ratio: 89.3%; rating input score 89
- Fundraising efficiency: $35.28 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings
Transparency & Controls
- Consistency checks: 95%; rating input score 95; 34th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 3 of 8 controls in place; rating input score 38
- Claims monitoring procedures: Pass
- Requires narrative reports: Pass
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Pass
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 98.7%; rating input score 99; 36th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 95.2%; rating input score 95; 48th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 16.3%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 10.02; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 85; 85th percentile among comparable filings
- Officer compensation ratio: 2.7%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 10.2% per year; rating input score 100; 75th percentile among comparable filings
- Revenue growth: 6.8% per year; rating input score 100; 59th percentile among comparable filings
- Asset growth: 7.2% per year; rating input score 100; 53rd percentile among comparable filings
Details
- What they do: 6 programs and campaigns described on the official site · 12 operating locations identified
- Where the money goes: 94% of revenue deployed · 89.3% of spending went to programs
- Governance: 20 of 21 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $76M in reported program spending
- Leadership: top reported pay $501K · 31 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $3.2M reported
- Consistency: 44 of 45 current checks pass · 1 finding to review
- Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 927 filed money-flow records
- Related organizations: 888 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.