Freas Foundation Incorporated appears to operate primarily as a funding vehicle that allocates large, equal-sized gifts to several donor-advised funds at Schwab rather than directly to operating nonprofits. The pattern suggests the foundation is supporting family or affiliated donor-advised accounts (Oly Freas, Freas Redux, CL, Pratt Family) to enable directed philanthropy by individuals or family branches. There is no evidence of direct programmatic priorities or geographic/issue-specific giving in the recorded grants; its role is mainly fiscal/administrative facilitation of charitable advising.
Highly concentrated: four large, equal grants (each ~$1.10M) all to Schwab Charitable donor-advised funds. No direct operating-grantee funding, repeated thematic pattern of funding DAF vehicles rather than program-specific nonprofits.
Freas Foundation Incorporated’s four largest 2024 grants all went to donor-advised funds at Schwab Charitable, each at $1,096,625. That pattern makes the foundation less visible as a direct operating grantmaker and more recognizable as a vehicle for family or affiliated philanthropic accounts, including Oly Freas Fund, Pratt Family Fund, Freas Redux Fund, and CL Fund. The recorded grants point to a structure built around charitable advising rather than a single program area or portfolio of nonprofits. Outside those equal-sized DAF allocations, the foundation’s 2023 grants show a broad mix of general support to community organizations, schools, arts groups, libraries, faith institutions, and health-related nonprofits. Examples include Interfaith Works, Piedmont Virginia Community College, and First Unitarian Church of Richmond, each funded with general-purpose grants. The distribution suggests flexible giving across multiple charitable purposes rather than a narrowly defined theme. The foundation’s recorded grants are entirely to U.S. recipients, and the same 2024 DAF pattern appears alongside smaller operating-style awards in 2023. That combination is useful for researchers trying to understand whether the foundation is a direct grantmaker or a funding platform for other philanthropic decision-makers.
A major share of recorded activity is tied to donor-advised philanthropy rather than sector-specific grantmaking. In 2024, Freas Foundation Incorporated awarded $1,096,625 to Oly Freas Fund Schwab Charitable for charitable donor advisory fund support, and the same amount to Pratt Family Fund Schwab Charitable for the same purpose. Beyond that structure, the foundation also makes general grants to a wide range of community institutions. In education, it gave $17,326 to Piedmont Virginia Community College for general support and $5,000 to Albemarle High School for general support. In civic and community services, it provided $22,000 to Interfaith Works for its general fund and $20,000 to Naamehnay Project Inc for general fund support. Arts, culture, and public-facing local institutions also appear in the record. Examples include $12,000 to Lewis Ginter Botanic Garden, $10,450 to Bellefonte Art Museum for Centre Co, and $6,000 to Menifee Valley Historical Assoc Mus, all listed as general fund grants.
$4.4M
$0
$37K
$4.4M
Most grants fall between $5K and $12K, with a median of $7K.
25th Percentile
$5K
Median
$7K
75th Percentile
$12K
About 21% of grants go to recipients in PA.
Sign up for a free Kindora account to access AI-generated insights into this funder's giving patterns, decision-makers, and fit signals.
Get Started FreeFree Kindora accounts unlock side-by-side comparisons with foundations that share this funder's focus areas and giving profile.
Get Started FreeSign up free to see how well your nonprofit fits this funder, get an AI-generated pitch, and unlock similar foundations.
Notable grantees: Oly Freas Fund (Schwab Charitable), Freas Redux Fund (Schwab Charitable), CL Fund (Schwab Charitable), Pratt Family Fund (Schwab Charitable)
The typical recorded gift is modest relative to the foundation’s annual giving: p25 is $5,000, median is $7,200, and p75 is $12,000. The distribution is unusual because the 2024 file shows four equal grants of $1,096,625, while the smaller 2023 awards cluster around general support amounts. The grant record suggests both recurring and one-off behavior. Several recipients appear only once in the top grants list, while the 2024 donor-advised fund pattern repeats across multiple family or affiliated funds. The foundation is not described as making program-related investments, and it does not fund individuals. The data also points to flexible, general-purpose grantmaking alongside donor-advised reallocations, with no application process information provided in the record.
Grant recipients are spread nationally, with all recorded grants going to U.S. organizations. Virginia appears often in the recipient list, including Richmond, Charlottesville, and Lakewood, and the foundation gives most often in Colorado by grant count. Other repeated recipient cities include Olympia, WA; State College, PA; and Orlando, FL, where the donor-advised fund grants were recorded. The top-state pattern differs from the headquarters location in Glen Allen, VA.
The recorded grants are mostly general support to nonprofits, schools, and community organizations. Examples in the file include a community service organization, a community college, a church, a botanic garden, and an art museum, alongside donor-advised fund support through Schwab Charitable.
Both patterns appear, but the largest 2024 grants went to donor-advised funds at Schwab Charitable. The same record also includes smaller general fund grants to operating nonprofits and other organizations, which shows mixed activity in the file.
The recorded grant-size distribution is p25 at $5,000, median at $7,200, and p75 at $12,000. The 2024 donor-advised fund grants are far above that range at $1,096,625 each.
By grant count, Colorado is the top state, while Virginia accounts for 21% of grants to recipients. Recipient cities in the record include Lakewood, Richmond, Charlottesville, Olympia, and State College.
All recorded grants in the file went to U.S. recipients. The recipient list includes organizations in multiple states such as VA, WA, PA, CA, FL, NM, IL, MD, WV, and CO.
2024
Source: IRS Form 990-PF, fiscal year 2024.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| Pratt Family Fund Schwab CHaritable | Orlando, FL | $1,096,625 | 2024 | Charutable Donor Advisory Fund |
| Oly Freas Fund Schwab Charitable | Orlando, FL | $1,096,625 | 2024 | Charitable Donor Advisory Fund |
| CL Fund Schwab Charitable | Orlando, FL | $1,096,625 | 2024 | Charitable Donor Advisory Fund |
| Freas Redux Fund Schwab Charitable | Orlando, FL | $1,096,625 | 2024 | Charitable Donor Advisory Fund |
| Interfaith Works | Olympia, WA | $22,000 | 2023 | General Fund |
| Naamehnay Project Inc | Las Cruces, NM | $20,000 | 2023 | General fund |
| Piedmont Virginia Community College | Charlottesville, VA | $17,326 | 2023 | General fund |
| First Unitarian Church of Richmond | Richmond, VA | $14,686 | 2023 | General fund |
| Lewis Ginter Botanic Garden | Richmond, VA | $12,000 | 2023 | General fund |
| Schlow Centre County Library | State College, PA | $12,000 | 2023 | General fund |
| Maymont Foundation | Richmond, VA | $12,000 | 2023 | General fund |
| Bellefonte Art Museum for Centre Co | Bellefonte, PA | $10,450 | 2023 | General fund |
| Eastside Cooperative Preschool | Olympia, WA | $10,286 | 2023 | General Fund |
| Global Emergency Health Care Collab | Oak Park, IL | $10,000 | 2023 | General fund |
| Garden Raised Bounty GRUB | Olympia, WA | $8,000 | 2023 | General fund |
| Dispute Resolution Center of Thurst | Olympia, WA | $7,200 | 2023 | General Fund |
| Arbutus Folk School | Olympia, WA | $7,200 | 2023 | General fund |
| Project Chance | Fernandina Beach, FL | $6,360 | 2023 | General Fund |
| Menifee Valley Historical Assoc Mus | Menifee, CA | $6,000 | 2023 | General Fund |
| FeedMore Inc | Richmond, VA | $6,000 | 2023 | General fund |
| Albemarle High School | Charlottesville, VA | $5,000 | 2023 | General fund |
| Empowerment 4 Girls | Olympia, WA | $5,000 | 2023 | General fund |
| Dennison Elementary School | Lakewood, CO | $5,000 | 2023 | General Fund |
| CicLAvia | Los Angeles, CA | $5,000 | 2023 | General Fund |
| Frederick Health Hospital | Frederick, MD | $5,000 | 2023 | General fund |
| Centre County PAWS | State College, PA | $5,000 | 2023 | General fund |
| Science Museum of Virginia Foundati | Richmond, VA | $5,000 | 2023 | General Fund |
| Centre County Law Enforcement Camp | State College, PA | $5,000 | 2023 | General fund |
| Fort Edwards Foundation | Capon Bridge, WV | $4,338 | 2023 | General Fund |
| Minersville Area Historical Society | Minersville, PA | $4,300 | 2023 | General Fund |
| Centre Volunteers in Medicine | State College, PA | $3,600 | 2023 | General fund |
| Wild Amelia Nature Festival | Fernandina Beach, FL | $3,000 | 2023 | General fund |
| Scraps Skeins | State College, PA | $2,000 | 2023 | General fund |
Pratt Family Fund Schwab CHaritable
$1,096,625Charutable Donor Advisory Fund
Oly Freas Fund Schwab Charitable
$1,096,625Charitable Donor Advisory Fund
CL Fund Schwab Charitable
$1,096,625Charitable Donor Advisory Fund
Freas Redux Fund Schwab Charitable
$1,096,625Charitable Donor Advisory Fund
Naamehnay Project Inc
$20,000General fund
Piedmont Virginia Community College
$17,326General fund
First Unitarian Church of Richmond
$14,686General fund
Lewis Ginter Botanic Garden
$12,000General fund
Schlow Centre County Library
$12,000General fund
Bellefonte Art Museum for Centre Co
$10,450General fund
Eastside Cooperative Preschool
$10,286General Fund
Global Emergency Health Care Collab
$10,000General fund
Dispute Resolution Center of Thurst
$7,200General Fund
Arbutus Folk School
$7,200General fund
Project Chance
$6,360General Fund
Menifee Valley Historical Assoc Mus
$6,000General Fund
Albemarle High School
$5,000General fund
Empowerment 4 Girls
$5,000General fund
Dennison Elementary School
$5,000General Fund
Frederick Health Hospital
$5,000General fund
Centre County PAWS
$5,000General fund
Centre County Law Enforcement Camp
$5,000General fund
Fort Edwards Foundation
$4,338General Fund
Minersville Area Historical Society
$4,300General Fund
Wild Amelia Nature Festival
$3,000General fund
Scraps Skeins
$2,000General fund