Nonprofit · EIN 16-8064401
THE CHARLES FUND INC
Also known as BANK OF AMERICA NA 03300-0022806
Tax-exempt · CHARLOTTESVLE, VA 22902
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $701,282 | $707,425 | -$6,143 | $8,415,795 | $0 | $8,415,795 |
| December 31, 2024 | 990-PF | $615,480 | $600,225 | $15,255 | $8,421,938 | $0 | $8,421,938 |
| December 31, 2023 | 990-PF | $403,176 | $628,079 | -$224,903 | $8,406,683 | $0 | $8,406,683 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $333,040
- Interest
- $7
- Net gain from sales of assets
- $367,985
- Other income
- $250
Expenses
- Grants and similar amounts paid
- $584,000
- Compensation of officers, directors and key employees
- $57,650
- Disbursements for charitable purposes
- $656,973
- Excise tax on investment income
- $9,202
Balance sheet and other
- Total assets, start of year
- $8,421,938
- Total assets, end of year
- $8,415,795
- Total liabilities, end of year
- $0
- Net assets, end of year
- $8,415,795
- Fair market value of assets
- $13,204,684
- Qualifying distributions
- $656,973
- Net investment income
- $701,032
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| J WALKER RICHMOND III 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | PRESIDENT AND SECRETARY | 15 | $39,650 |
| JOSEPH W RICHMOND JR 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT AND TREASURER | 5 | $2,000 |
| GREGORY CARVER 28 VIA SONRISA, ST AUGUSTINE, FL 32092 | VICE PRESIDENT | 1 | $2,000 |
| TIMOTHY ALEXANDER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT | 1 | $2,000 |
| BETSY CARVER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| DEBORAH MAGGS 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| ANNE M FARNHAM 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| JAMES FARNHAM 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| SHARI BELANGER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| SARAH RILEY 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
990-PF for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| J WALKER RICHMOND III 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | PRESIDENT AND SECRETARY | 15 | $38,250 |
| JOSEPH W RICHMOND JR 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT AND TREASURER | 5 | $2,000 |
| GREGORY CARVER 28 VIA SONRISA, ST AUGUSTINE, FL 32092 | VICE PRESIDENT | 1 | $2,000 |
| TIMOTHY ALEXANDER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT | 1 | $2,000 |
| BETSY CARVER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| DEBORAH MAGGS 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| ANNE M FARNHAM 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| JAMES FARNHAM 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| SHARI BELANGER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| SARAH RILEY 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
990-PF for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH W RICHMOND JR 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 15 | $31,500 |
| J WALKER RICHMOND III 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | PRESIDENT | 5 | $2,000 |
| BETSY CARVER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT | 1 | $2,000 |
| DEBORAH MAGGS 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | VICE PRESIDENT | 1 | $2,000 |
| ANNE M FARNHAM 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
| GREGORY CARVER 28 VIA SONRISA, ST AUGUSTINE, FL 32092 | DIRECTOR | 1 | $2,000 |
| TIMOTHY ALEXANDER 250 E HIGH ST, CHARLOTTESVILLE, VA 22902 | DIRECTOR | 1 | $2,000 |
Address and contacts
- Address (IRS master file)
- 250 E HIGH ST, CHARLOTTESVLE, VA 22902-5178
- In care of
- % RICHMOND & FISHBURNE
- Signed the 990-PF
- J WALKER RICHMOND III, PRESIDENT
- Phone
- (434) 293-8191
- Return prepared by
- HANTZMON WIEBEL LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 16-8064401
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1966
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $8,415,795
- Income (IRS master file)
- $1,038,990
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $701,282 | $707,425 | $8,415,795 | XML |
| 990-PF | December 2024 | $615,480 | $600,225 | $8,421,938 | IRS |
| 990-PF | December 2023 | $403,176 | $628,079 | $8,406,683 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 16-8064401).
Questions about THE CHARLES FUND INC
- What is the EIN of THE CHARLES FUND INC?
- The employer identification number (EIN) of THE CHARLES FUND INC is 16-8064401.
- Is THE CHARLES FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1966.
- Are donations to THE CHARLES FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does THE CHARLES FUND INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of THE CHARLES FUND INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE CHARLES FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of THE CHARLES FUND INC?
- The 990-PF for the year ended December 31, 2025 lists 10 people; 10 received compensation from the organization, the highest $39,650 (J WALKER RICHMOND III, PRESIDENT AND SECRETARY).
- How much revenue does THE CHARLES FUND INC have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $701,282, expenses of $707,425 and total assets of $8,415,795 at year end.
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