About Herndon Foundation
The Herndon Foundation concentrates its philanthropy on Virginia higher-education and public-serving institutions, providing substantial unrestricted operating support. Its giving is highly concentrated: a small number of very large grants fund institutions with regional and civic significance, notably a military college and a private university in Richmond. The foundation appears to prioritize institutional stability and capacity over program-specific or grassroots awards.
Focus Areas
Operating support for Virginia higher education institutionsSupport for military education and veteran-related institutions (Virginia Military Institute)Major philanthropic investment in Richmond-area nonprofit institutions
Who They Fund
nonprofit organizations (general)K-12 schools / school partners (Sprout School)low-income / indigent patientsstudents / scholarship recipientsfaith communities / congregations
Giving Approach
About Herndon Foundation
Herndon Foundation’s recent giving is marked by repeated seven-figure support for Virginia Military Institute and steady operating support for University of Richmond. Those two institutions appear across multiple years, showing a pattern of multi-year institutional funding rather than one-off project grants. The foundation also backs other Richmond-area organizations with larger general operating awards, including Virginia Museum of History and Culture and J Sargeant Reynolds Community College Educational Foundation, which points to a portfolio built around institutional stability. The foundation’s grantmaking favors Virginia higher education and public-serving institutions, with awards that often support core operations, pledges, or specific capital and partnership needs. That mix suggests a funder comfortable with both unrestricted support and targeted investments when a project fits its priorities. Recent grants also show attention to education beyond universities, including a Richmond school, a scholarship award, and a school partnership pilot. Across the record, the foundation’s role is less about broad, dispersed philanthropy and more about concentrating meaningful dollars in a small set of Virginia institutions with civic presence.
What Herndon Foundation Funds
Higher education is central to the foundation’s recent grantmaking. It gave $1,000,000 to Vmi Foundation in 2025 for general operating support, and it also supported University of Richmond with $584,000 in both 2024 and 2025 for general operating support. The foundation also backs education infrastructure and partnerships in Richmond. In 2024, J Sargeant Reynolds Community College Educational Foundation received $200,000 for a biotechnology lab fit out, followed by $125,000 in 2025 in support of the Sprout School partnership pilot program. Beyond education, the portfolio includes health and human services and cultural institutions. MCV Foundation received support for the Gottwald Indigent Care Fund, while Virginia Museum of History and Culture was funded for operating support in multiple years. The Richmond Ballet also appears in the recent grants list with general operating support.
How Herndon Foundation Gives
Typical awards cluster at the smaller end of the foundation’s scale, with p25 at $10,000, a median grant of $25,000, and p75 at $50,000. Recent large grants show that the foundation can also make major institutional commitments, including repeated seven-figure support. The same recipients appear across multiple years, especially in Virginia higher education and Richmond institutions, which indicates recurring relationships rather than isolated gifts. The grant program is annual and competitive, and it accepts unsolicited applications from qualified 501(c)(3) public charities, with preference for organizations serving the Richmond metropolitan region. The foundation makes grants, not program-related investments.
Financial Snapshot
Annual Giving
$5.6M
Total Assets
$62M
Total Revenue
$16.1M
Total Expenses
$6.1M
Typical Grant Size
Most grants fall between $10K and $50K, with a median of $25K.
25th Percentile
$10K
Median
$25K
75th Percentile
$50K
Geographic Reach
Local6 states funded
Funding intensity
LowHigh
Headquarters
Unlock Deep Analysis
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 FreeSee Similar Funders
Free Kindora accounts unlock side-by-side comparisons with foundations that share this funder's focus areas and giving profile.
Get Started FreeExplore related grant guides
Want a Personalized Pitch for Herndon Foundation?
Sign up free to see how well your nonprofit fits this funder, get an AI-generated pitch, and unlock similar foundations.
Free plan available
No contracts
Cancel anytime