Red Gates Foundation

Quick Stats

Annual Giving: $71,871,654 (2023)
Assets: Approximately $1.37 billion
Grant Range: $188,000 - $50,000,000
Median Grant: $238,000
Number of Grants: 26 (2023)
Geographic Focus: Virginia (primarily Richmond), with grants also made in Illinois, Tennessee, and Utah
Application Method: Invitation only / No public application process

Contact Details

Red Gates Foundation 800 East Canal St, Suite 1900 Richmond, VA 23219

Phone: (804) 643-4200

Executive Director: Jeff Galanti

Overview

The Red Gates Foundation was established in 2020 by the estate of William Hunter Goodwin III (Hunter Goodwin), who passed away in January 2020 at age 51 after a 16-month battle with cancer. The foundation received $2 billion from his estate in 2022, making it one of Virginia's most significant philanthropic organizations. With assets totaling approximately $1.37 billion, the foundation awarded $71,871,654 through 26 grants in 2023. The foundation is led by William H. Goodwin Jr. (Chairman), Matthew T. Goodwin (Vice Chairman), and Richard J. Higgerson (Board Member), all of whom serve without compensation. In 2023, the foundation made one of the largest gifts in Virginia Tech's history with a landmark $50 million commitment to the Fralin Biomedical Research Institute. According to the foundation's philosophy, "At the heart of the Red Gates Foundation's philosophy is a recognition that genuine progress requires more than just financial resources; it demands a commitment to innovative thinking, collaborative partnerships, and a profound understanding of the unique needs of those it seeks to help."

Funding Priorities

Grant Programs

The Red Gates Foundation does not operate specific named grant programs but makes substantial awards across several focus areas. The foundation primarily funds general support grants rather than project-specific funding.

Priority Areas

Based on 2023 grant activity, the foundation supports:

Health Sciences and Medical Research

Major support for biomedical research, particularly cancer and neuroscience research
Healthcare access and delivery for underserved populations
Example: $50 million to Fralin Biomedical Research Institute at Virginia Tech for cancer, neuroengineering, and computational neuroscience research
Example: $1.0 million to Crossover Healthcare Ministry

Education

K-12 education, particularly schools serving underserved communities
Educational access and equity initiatives
Example: $225,000 to Elijah House Academy
Example: $188,000 to Anna Julia Cooper School

Youth Development

Programs supporting youth sports and character development
Example: $500,000 to First Tee Greater Richmond

Community Development

Organizations working to strengthen communities and provide opportunities
Example: $250,000 to UP RVA

Scientific Research Foundations

Support for innovative medical technologies
Example: $789,000 to Focused Ultrasound Foundation

What They Don't Fund

While the foundation does not publish explicit exclusions, their stated policy is clear:

The foundation only makes contributions to preselected charitable organizations
The foundation does not accept unsolicited requests for funds

Governance and Leadership

William H. Goodwin Jr. - Chairman Richmond philanthropist and chairman and president of Riverstone Group LLC, whose holdings include the James Center complex in downtown Richmond and The Jefferson Hotel. Father of Hunter Goodwin, the foundation's founder.

Matthew T. Goodwin - Vice Chairman Member of the Goodwin family involved in the foundation's leadership.

Richard J. Higgerson - Board Member

Jeff Galanti - Executive Director Oversees the foundation's day-to-day operations and grantmaking strategy. According to Galanti, "The Red Gates Foundation is committed to funding innovative research that has the potential to make a real difference in the world," and they are confident in approaches "that will help make significant breakthroughs that benefit humanity in the years to come."

All board members serve without compensation.

Application Process & Timeline

How to Apply

The Red Gates Foundation does not have a public application process.

The foundation only makes contributions to preselected charitable organizations and explicitly does not accept unsolicited requests for funds. This is clearly stated in the foundation's public filings and profiles.

All grants are awarded through trustee discretion based on organizations and initiatives the board identifies independently.

Getting on Their Radar

The foundation does not provide public guidance on how organizations might come to their attention, as they operate on an invitation-only basis with preselected charitable organizations. Given the foundation's origins in the Goodwin family's Richmond-based business and philanthropic interests, existing connections to the Richmond philanthropic community and the family's known areas of interest (particularly cancer research, medical innovation, education for underserved communities, and Richmond-area nonprofits) appear to be primary pathways to consideration.

The foundation has shown willingness to make both Richmond-focused grants and significant statewide investments in Virginia institutions, as well as selected grants in Illinois, Tennessee, and Utah.

Decision Timeline

Not publicly disclosed. As an invitation-only funder with trustee discretion, timeline information is not available.

Success Rates

Not applicable - the foundation does not accept applications.

Reapplication Policy

Not applicable - the foundation does not accept applications.

Application Success Factors

Since the Red Gates Foundation does not accept applications, there are no traditional success factors. However, examining their 2023 grant portfolio reveals several patterns:

Focus on Innovation and Impact According to Executive Director Jeff Galanti, the foundation is "committed to funding innovative research that has the potential to make a real difference in the world." Their $50 million investment in Virginia Tech's Fralin Biomedical Research Institute reflects this commitment to breakthrough research in cancer and neuroscience.

Support for Underserved Communities The foundation's Richmond-area grants demonstrate a clear commitment to organizations serving underserved populations:

Anna Julia Cooper School (education)
Elijah House Academy (education)
Crossover Healthcare Ministry (healthcare access)
UP RVA (community development)

Capacity for Major Transformative Gifts The foundation has demonstrated willingness to make large, transformational commitments. The $50 million Virginia Tech gift equals one of the two largest gifts ever made to the university and will fund 14 new faculty positions and six major research projects.

Connection to the Goodwin Family Legacy Hunter Goodwin's personal battle with cancer clearly influences the foundation's priorities. The family has committed over $250 million to cancer research initiatives, including the Break Through Cancer foundation, which brings together five of the nation's top cancer centers.

General Support Funding Philosophy The foundation primarily provides general support grants rather than restricted project funding, suggesting they invest in organizations whose overall mission and operations align with their values.

Key Takeaways for Grant Writers

Not Open to Applications: This foundation explicitly does not accept unsolicited requests for funds. Do not submit applications or proposals.
Richmond Connection: The foundation has clear ties to Richmond, VA, and Richmond-area nonprofits appear well-represented in their grantmaking.
Cancer and Health Research Priority: The foundation's largest commitments have been to medical research, particularly cancer research, reflecting founder Hunter Goodwin's legacy.
Education for Underserved: K-12 educational organizations serving underserved communities in Richmond have received meaningful support.
Capacity for Major Gifts: With $1.37 billion in assets, this foundation can make transformational gifts - their largest known grant was $50 million.
Innovation-Focused: According to leadership, the foundation seeks "innovative research" and approaches that can "make significant breakthroughs that benefit humanity."
General Support Model: The foundation appears to prefer general support grants over restricted project funding, suggesting they invest in organizations holistically.

References

All sources accessed December 2024.