The Community Foundation (TCF), serving Richmond and Central Virginia, provides administrative and financial oversight to the RAASF. The Community Foundation (TCF) is one of the largest grant makers in Virginia. It was established in 1968 to provide stewardship for permanent endowments that enhance the lives of area citizens in Richmond and Central Virginia. TCF currently manages more than 420 philanthropic funds and 8 supporting organizations with combined assets of more than $660 million.

The RAASF chose to partner with The Community Foundation in large part because of TCF's: