Nonprofit · EIN 30-1201296
RED GATES FOUNDATION
Tax-exempt · RICHMOND, VA 23226
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $79,331,095 | $38,417,959 | $40,913,136 | $1,521,801,051 | $232,188,046 | $1,289,613,005 |
| December 31, 2023 | 990-PF | $38,249,357 | $154,220,255 | -$115,970,898 | $1,367,916,776 | $251,433,247 | $1,116,483,529 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $950,000
- Dividends
- $10,067,270
- Interest
- $706,366
- Net gain from sales of assets
- $64,327,286
- Other income
- $3,280,173
Expenses
- Grants and similar amounts paid
- $28,827,310
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $1,125,355
- Disbursements for charitable purposes
- $68,167,791
- Excise tax on investment income
- $1,068,769
Balance sheet and other
- Total assets, start of year
- $1,367,916,776
- Total assets, end of year
- $1,521,801,051
- Total liabilities, end of year
- $232,188,046
- Net assets, end of year
- $1,289,613,005
- Fair market value of assets
- $1,521,801,051
- Qualifying distributions
- $68,167,791
- Net investment income
- $78,333,190
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JEFF GALANTI 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $541,461 | $62,954 |
| MARK SMITH 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | DIRECTOR OF INVESTME Highest-paid employee | 40 | $390,687 | $41,741 |
| STEPHANIE HICKS 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | DIR OF FINANCE AND A Highest-paid employee | 40 | $192,806 | $38,151 |
| WILLIAM H GOODWIN JR 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | CHAIRMAN | 1 | $0 | $0 |
| MATTHEW T GOODWIN 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | VICE CHAIRMAN | 1 | $0 | $0 |
| RICHARD J HIGGERSON 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | BOARD MEMBER | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JEFF GALANTI 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $471,250 | $59,500 |
| MARK SMITH 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | DIRECTOR OF INVESTME Highest-paid employee | 40 | $222,872 | $20,551 |
| STEPHANIE HICKS 800 E CANAL ST SUITE 1900, RICHMOND, VA 23219 | DIR OF FINANCE AND A Highest-paid employee | 40 | $183,751 | $29,734 |
| WILLIAM H GOODWIN JR 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | CHAIRMAN | 1 | $0 | $0 |
| MATTHEW T GOODWIN 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | VICE CHAIRMAN | 1 | $0 | $0 |
| RICHARD J HIGGERSON 800 EAST CANAL STREET SUITE 1900, RICHMOND, VA 23219 | BOARD MEMBER | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 920 LIBBIE AVE STE 105, RICHMOND, VA 23226-2050
- Signed the 990-PF
- JEFF GALANTI, EXECUTIVE DIRECTOR
- Phone
- (804) 613-4619
- Return prepared by
- KEITER STEPHENS HURST GARY & SHREAVES
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 | Not 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
- 30-1201296
- 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
- 2021
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $1,521,801,051
- Income (IRS master file)
- $278,998,902
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $79,331,095 | $38,417,959 | $1,521,801,051 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $38,249,357 | $154,220,255 | $1,367,916,776 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | 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 30-1201296).
Questions about RED GATES FOUNDATION
- What is the EIN of RED GATES FOUNDATION?
- The employer identification number (EIN) of RED GATES FOUNDATION is 30-1201296.
- Is RED GATES FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to RED GATES FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does RED GATES FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of RED GATES FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RED GATES FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of RED GATES FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 6 people; 3 received compensation from the organization, the highest $541,461 (JEFF GALANTI, EXECUTIVE DIRECTOR).
- How much revenue does RED GATES FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $79,331,095, expenses of $38,417,959 and total assets of $1,521,801,051 at year end.
Other nonprofits in RICHMOND
- THE COMMUNITY FOUNDATION INC EIN 23-7009135 · last filed 990 for 2024
- THE BLUEBIRD FOUNDATION EIN 41-2732892 · last filed 990-PF for 2025
- ENDEAVOUR LEGACY FOUNDATION EIN 83-1934407 · last filed 990-PF for 2024
- BARBARA BRUNCKHORST FOUNDATION EIN 86-6502564 · last filed 990-PF for 2024
- THE PAULEY FAMILY FOUNDATION EIN 54-1685158 · last filed 990 for 2024
- DOMINION ENERGY CHARITABLE FOUNDATION EIN 47-2746460 · last filed 990-PF for 2024
- RICHMOND JEWISH FOUNDATION EIN 54-1623966 · last filed 990 for 2025
- THE BEIRNE CARTER FOUNDATION EIN 54-1397827 · last filed 990-PF for 2024
All nonprofits in RICHMOND · Virginia · Philanthropy, voluntarism and grantmaking foundations