Nonprofit · EIN 38-3681796
CARMAX FOUNDATION
Tax-exempt · RICHMOND, VA 23238
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| February 28, 2026 | 990-PF | $5,064,035 | $5,439,490 | -$375,455 | $6,266,630 | $0 | $6,266,630 |
| February 28, 2025 | 990-PF | $5,992,582 | $7,328,565 | -$1,335,983 | $6,642,085 | $0 | $6,642,085 |
| February 29, 2024 | 990-PF | $10,080,818 | $7,910,898 | $2,169,920 | $7,978,068 | $0 | $7,978,068 |
Financial details: 990-PF for the year ended February 28, 2026
Revenue
- Contributions, gifts and grants
- $4,800,000
- Interest
- $264,035
Expenses
- Grants and similar amounts paid
- $4,841,701
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $5,432,178
- Excise tax on investment income
- $3,645
Balance sheet and other
- Total assets, start of year
- $6,642,085
- Total assets, end of year
- $6,266,630
- Total liabilities, end of year
- $0
- Net assets, end of year
- $6,266,630
- Fair market value of assets
- $6,266,630
- Qualifying distributions
- $5,432,178
- Net investment income
- $264,035
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 February 28, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFF HALL 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | PRESIDENT | 2 | $0 |
| MATHEW JEWETT 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | TREASURER | 2 | $0 |
| JESSICA KIRKLAND 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | SECRETARY (THROUGH 9/25) | 2 | $0 |
| DAVID GUSTIN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | SECRETARY (FROM 10/25) | 2 | $0 |
| ALEX MALCOLM 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ANN YAUGER 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 8/25) | 2 | $0 |
| ASHWIN KOPPARTHI 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 2/26) | 2 | $0 |
| NICOLE BROWN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| SARAH BROWN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| THOMAS SQUIRE 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 2/26) | 2 | $0 |
| ERICA CAIN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| EVA JAMES 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| MELANIE MURPHY 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| DEBBIE SHARP 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| JASON BAZAN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
990-PF for the year ended February 28, 2025: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFF HALL 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | PRESIDENT | 2 | $0 |
| MATHEW JEWETT 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | TREASURER | 2 | $0 |
| JESSICA KIRKLAND 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | SECRETARY | 2 | $0 |
| ALEX MALCOLM 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ANN YAUGER 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ASHWIN KOPPARTHI 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ERIC MARTIN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| NICOLE BROWN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| SARAH BROWN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| THERESIA RADAELLI 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 02/25) | 2 | $0 |
| THOMAS SQUIRE 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| JASON ANCARROW 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 02/25) | 2 | $0 |
| RICHARD BUSCHER 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 02/25) | 2 | $0 |
| DONNA COHEN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 02/25) | 2 | $0 |
| CHRIS SLOAN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 02/25) | 2 | $0 |
990-PF for the year ended February 29, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JASON ANCARROW 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | PRESIDENT | 2 | $0 |
| MATHEW JEWETT 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | TREASURER | 2 | $0 |
| ASHLEY CULLUM 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | SECRETARY (THROUGH 09/23) | 2 | $0 |
| JESSICA KIRKLAND 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | SECRETARY | 2 | $0 |
| KAREN HOLT 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| MARK COLLIER 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| JEFF JACKSON 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ERIC MARTIN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| DONNA COHEN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| RICHARD BUSCHER 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| JEFF HALL 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| MEGHAN GARRANT 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR (THROUGH 05/23) | 2 | $0 |
| THOMAS SQUIRE 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| ASHWIN KOPPARTHI 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| SARAH BROWN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
| CHRIS SLOAN 12800 TUCKAHOE CREEK PKWY, RICHMOND, VA 23238 | DIRECTOR | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 12800 TUCKAHOE CREEK PKWY NA, RICHMOND, VA 23238-1115
- In care of
- % STUART HEATON
- Signed the 990-PF
- MATHEW JEWETT, TREASURER
- Phone
- (804) 747-0422
- Website
- FOUNDATION.CARMAX.COM
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in February, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | February 28, 2026 | July 15, 2026 | 990-PF on file |
| 2024 | February 28, 2025 | July 15, 2025 | 990-PF on file |
| 2023 | February 29, 2024 | July 15, 2024 | 990-PF on file |
IRS record
- EIN
- 38-3681796
- 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
- 2003
- Accounting year ends
- February
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T21)
- Assets (IRS master file)
- $6,266,630
- Income (IRS master file)
- $5,064,035
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | February 2026 | $5,064,035 | $5,439,490 | $6,266,630 | XML |
| 990-PF | February 2025 | $5,992,582 | $7,328,565 | $6,642,085 | XML |
| 990-PF | February 2024 | $10,080,818 | $7,910,898 | $7,978,068 | XML |
| 990-PF | February 2023 | – | – | – | IRS |
| 990-PF | February 2022 | – | – | – | IRS |
| 990-PF | February 2021 | – | – | – | IRS |
| 990-PF | February 2019 | – | – | – | 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 38-3681796).
Questions about CARMAX FOUNDATION
- What is the EIN of CARMAX FOUNDATION?
- The employer identification number (EIN) of CARMAX FOUNDATION is 38-3681796.
- Is CARMAX FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to CARMAX FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CARMAX FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of CARMAX FOUNDATION due?
- The return for tax year 2026 (the year ending February 28, 2027) is due July 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CARMAX FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended February 2026.
- Who are the officers and directors of CARMAX FOUNDATION?
- The 990-PF for the year ended February 28, 2026 lists 15 people; 0 received compensation from the organization.
- How much revenue does CARMAX FOUNDATION have?
- On its 990-PF for the year ended February 28, 2026 it reported revenue of $5,064,035, expenses of $5,439,490 and total assets of $6,266,630 at year end.
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