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Carmax Foundation is a private corporation based in RICHMOND, VA. The foundation received its IRS ruling in 2003. The principal officer is Stuart Heaton. It holds total assets of $6.6M. Annual income is reported at $6M. The foundation is governed by 16 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2017 to 2024. The foundation primarily funds organizations in Virginia and California. According to available records, Carmax Foundation has made 1,385 grants totaling $34.6M, with a median grant of $1K. Annual giving has grown from $5.4M in 2021 to $7.2M in 2024. Grantmaking activity was highest in 2023 with $14.9M distributed across 152 grants. Individual grants have ranged from N/A to $4.9M, with an average award of $25K. The foundation has supported 1,026 unique organizations. The foundation primarily supports organizations in Virginia, Delaware, District of Columbia, which account for 30% of all grants. Grantmaking reaches organizations across 44 states. Contributions to this foundation are tax-deductible.
Smallest Grant
N/A
Median Grant
$500
Average Grant
$5K
Largest Grant
$1M
Based on 1,132 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Carmax Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 1,385 grants. Its grantmaking reaches organizations primarily in VA, DE, DC.
Carmax Foundation has distributed a total of $34.6M across 1,385 grants. The median grant size is $1K, with an average of $25K. Individual grants have ranged from N/A to $4.9M.
The application deadline is DEADLINES ARE AVAILABLE AT FOUNDATION.CARMAX.COM.. The primary programs of the foundation include: - the home office grants program awards grants to organizations promoting health & wellness, education & workforce success, and resilient communities in the richmond, virginia area. - the regional giving program providing grants to nonprofit organizations serving carmax markets, with special attention to the atlanta, ga area. - the national giving program, supporting nonprofit(s) with a national footprint that align with our focus areas. - the volunteer team builder program lets carmax associates make valuable hands-on contributions to worthy causes through team-builders, donation drives blood drives and more. - the matching gifts program compounds carmax associates- and their families' gifts of time and money, making a greater impact on the causes most meaningful to them. Other programs include: - the board service program honors carmax associates for their time served on nonprofit governing or advisory boards. The foundation makes a don.
Carmax Foundation is headquartered in RICHMOND, VA. While based in VA, the foundation distributes grants to organizations across 44 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Chris Sloan | DIRECTOR | $0 | $0 | N/A |
| Jason Ancarrow | PRESIDENT | $0 | $0 | N/A |
| Mathew Jewett | TREASURER | $0 | $0 | N/A |
| Ashley Cullum | SECRETARY (THROUGH 09/23) | $0 | $0 | N/A |
| Jessica Kirkland | SECRETARY | $0 | $0 | N/A |
| Karen Holt | DIRECTOR | $0 | $0 | N/A |
| Mark Collier | DIRECTOR | $0 | $0 | N/A |
| Jeff Jackson | DIRECTOR | $0 | $0 | N/A |
| Eric Martin | DIRECTOR | $0 | $0 | N/A |
| Donna Cohen | DIRECTOR | $0 | $0 | N/A |
| Richard Buscher | DIRECTOR | $0 | $0 | N/A |
| Jeff Hall | DIRECTOR | $0 | $0 | N/A |
| Meghan Garrant | DIRECTOR (THROUGH 05/23) | $0 | $0 | N/A |
| Thomas Squire | DIRECTOR | $0 | $0 | N/A |
| Ashwin Kopparthi | DIRECTOR | $0 | $0 | N/A |
| Sarah Brown | DIRECTOR | $0 | $0 | N/A |
Total Giving
$7.9M
Total Assets
$8M
Fair Market Value
$8M
Net Worth
$8M
Grants Paid
$7.2M
Contributions
$9.7M
Net Investment Income
$378K
Distribution Amount
$410K
Total Grants
1,385
Total Giving
$34.6M
Average Grant
$25K
Median Grant
$1K
Unique Recipients
1,026
Most Common Grant
$1K
of 2024 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Project HelpingVOLUNTEER KITS | Aurora, CO | $11K | 2024 |
| American Online Giving FoundationDONATIONS DISBURSED TO QUALIFIED 501C3 NONPROFITS REFLECTING AS PART OF EMPLOYEE CHOICE GIVING PROGRAMS | Newark, DE | $4.9M | 2024 |
| KaboomBUILDING PLAYGROUNDS IN UNDERSERVED COMMUNITIES | Washington, DC | $1.3M | 2024 |
| Points Of LightCONNECT CARMAX ASSOCIATES TO VOLUNTEER OPPORTUNITIES | Atlanta, GA | $1M | 2024 |
| Happy Hope FoundationVOLUNTEER KITS | Pocasset, MA | $25K | 2024 |
| American Online Giving Foundation IncVOLUNTEER TEAM BUILDER, BOARD SERVICE, MATCHING DOLLARS/HOURS, CARE CARDS, RICHMOND GIVING PROGRAM, CARMAX FOUNDATION GRANT PROGRAM | Newark, DE | $2.9M | 2023 |
| Charities Aid Foundation AmericaVOLUNTEER TEAM BUILDER, BOARD SERVICE, MATCHING DOLLARS/HOURS, CARE CARDS | Alexandria, VA | $2.2M | 2023 |
| Peter Paul Development CenterRICHMOND GIVING PROGRAM | Richmond, VA | $60K | 2023 |
| Junior Achievement Of GeorgiaCARMAX AUTO FINANCE | Atlanta, GA | $50K | 2023 |
| Communities In Schools Of Richmond IncRICHMOND GIVING PROGRAM | Richmond, VA | $50K | 2023 |
| Partnership For The FutureRICHMOND GIVING PROGRAM | Glen Allen, VA | $25K | 2023 |
| Emergency Shelter IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| The Community Builders IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Greater Richmond Scan (Stop Child Abuse Now) IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Elk Hill Farm IncRICHMOND GIVING PROGRAM | Goochland, VA | $25K | 2023 |
| Communities In Schools Of ChesterfieldRICHMOND GIVING PROGRAM | Chesterfield, VA | $25K | 2023 |
| Blue Sky FundRECOGNITION & AWARDS | Richmond, VA | $25K | 2023 |
| Greater Richmond Aquatics PartnershipRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Feed More IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Side By Side Va IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Young Men'S Christian Association Of Greater RichmondRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Comfort Zone Camp IncRICHMOND GIVING PROGRAM | Richmond, VA | $25K | 2023 |
| Lifelong Learning Institute In Chesterfield County Va IncRICHMOND GIVING PROGRAM | Midlothian, VA | $20K | 2023 |
| Virginia Repertory TheatreRICHMOND GIVING PROGRAM | Richmond, VA | $20K | 2023 |
| River City Inclusive Gymnastics IncRICHMOND GIVING PROGRAM | Glen Allen, VA | $18K | 2023 |