Bane Foundation
Bane Foundation is a private foundation based in Salem, Virginia (EIN: 54-1716303). Its 2024 filing lists 53 grants totaling $51,800 to charitable organizations, including educational institutions, a food bank, wildlife and animal-welfare organizations, and arts and conservation groups.
Bane Foundation at a glance
In short: Bane Foundation gave $52K across 53 grants in 2024 (avg $977.358), top state Virginia. 38% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $51,800
- -4.8% vs 2023
- Grants made (2024)
- 53
- +26.2% vs 2023
- Average grant
- $977
- -24.5% vs 2023
- Median grant
- $500
- Total assets
- $646,948
- -0.2% vs 2023
- New grantees (estimate)
- 38% first-time grantees (20 of 53, 2024)
- Primary geography
- Virginia (41% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Bane Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: PO Box 1538, Salem, VA 24153
Phone: (540) 387-1183
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Bane Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Emory & Henry College ($5K). Together the top 10 received $30K.
Grant Size Distribution
215 grants across all recorded years
The most common grant size was under $50K: 215 grants of 215 (100%).
Geographic Focus
Where this funder awards grants
In 2024, the largest shares of grant dollars went to recipients in Virginia (41%), Tennessee (21%), Texas (10%), Florida (9%), and the Virgin Islands (6%). The foundation is based in Salem, Virginia.
Grant Distribution by State
Share of 2024 grant dollars across all 53 itemized grants.
States
Cities
Is Bane Foundation open to new grantees?
38%
first-time grantees, 2024
In 2024, 20 of 53 grantees (38%) were first-time recipients. First grants averaged $835; repeat grants $1K. How we count
Medians: $500 first-time, $500 repeat.
- 53% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+20%). Method
- In 2024 it paid out 96% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $43K (2021) to $55K (2020). In 2024 it made 53 grants totaling $52K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Emory & Henry College Emory, VA | Donation | $5,000 |
| Southern College of Optometry Memphis, TN | Donation | $5,000 |
| St Jude Children's Research Hosp Memphis, TN | Donation | $4,800 |
| Susan G Komen Breast Cancer Dallas, TX | Donation | $4,300 |
| St Croix Reformed Church Kingshill, VI | Donation | $2,500 |
| Roanoke College Salem, VA | Donation | $2,000 |
| Rotary Paul Harris Foundation Dartmouth, MA | Donation | $2,000 |
| Blue Ridge Area Food Bank Verona, VA | Donation | $1,500 |
| Hope Legacy Equine Rescue Afton, VA | Donation | $1,500 |
| Wintergreen Nature Foundation Roseland, VA | Donation | $1,200 |
Ready to take the next step with Bane Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $646,948 | $52,788 | $54,046 | $51,800 | 53 | $51,800 | $50,542 | $53,989 |
| 2023 | $648,206 | $54,539 | $56,569 | $54,400 | 42 | $54,400 | $49,658 | $54,212 |
| 2022 | $650,736 | $52,404 | $54,572 | $52,636 | 42 | $52,636 | $47,485 | $51,954 |
| 2021 | $652,904 | $51,046 | $45,328 | $43,200 | 34 | $43,200 | $43,918 | $52,353 |
| 2020 | $647,186 | $58,313 | $56,806 | $55,040 | 44 | — | $46,011 | $44,046 |
Under IRS private-foundation payout rules, Bane Foundation reported a distributable amount of $54K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its grants show support for organizations with varied missions. For example, Southern College of Optometry says its mission is to educate healthcare providers, promote lifelong learning, and foster service. Roanoke College says it develops students and prepares them for lives of learning, service, and leadership. Blue Ridge Area Food Bank describes distributing food to people in need across central and western Virginia. The Animal Welfare Institute says it works to alleviate animal suffering and improve animal welfare.
Other 2024 grantees include South Florida Wildlife Center, which describes its mission as protecting wildlife through rescue, rehabilitation, release, and education; Wintergreen Adaptive Sports, which provides outdoor sports instruction for people with disabilities; Broward Performing Arts Foundation, which supports performing arts programming and activities in Broward County; and Appalachian Trail Conservancy, which works to protect and manage the Appalachian Trail and its corridor.
Grantmaking
In 2024, the foundation gave 53 grants totaling $51,800. Grants ranged from $100 to $5,000, with a median grant of $500. Its largest listed grants were $5,000 each to Emory & Henry College and Southern College of Optometry, followed by $4,800 to St Jude Children’s Research Hospital and $4,300 to Susan G Komen Breast Cancer.
Other listed grants included $2,500 to St Croix Reformed Church; $2,000 each to Roanoke College and Rotary Paul Harris Foundation; and $1,500 each to Blue Ridge Area Food Bank and Hope Legacy Equine Rescue. Additional grants included $1,200 to Wintergreen Nature Foundation and $1,000 each to the American Heart Association and Animal Welfare Institute.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Dr. Eugene M. Bane Jr. as President/Director.
Bane Foundation is led by Eugene M. Bane Jr., President & Director on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2024 filing
Eugene M. Bane Jr.
President & Director
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Bane Foundation
How much does Bane Foundation give each year?
Bane Foundation gave $52K across 53 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $54K across 42 grants.
What is Bane Foundation's typical grant size?
Bane Foundation's median grant in 2024 was $500, and its average grant was $977, across 53 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Bane Foundation that year got $835 on average.
Where does Bane Foundation give grants?
Bane Foundation's top state is Virginia, with 41% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Tennessee (21%) and Texas (10%). The most frequent recipient cities were Roanoke, VA (4 grants), Charlottesville, VA (4 grants), Washington, DC (4 grants) and Salem, VA (3 grants).
Does Bane Foundation give general operating support?
Not in 2024: none of the 53 grants with a stated purpose on Bane Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Donation" (53 grants).
Who are Bane Foundation's largest grantees?
Bane Foundation's largest 2024 grantees include Emory & Henry College ($5,000), Southern College of Optometry ($5,000) and St Jude Children's Research Hosp ($4,800), according to its 2024 IRS Form 990-PF. Together they received 29% of its itemized 2024 grant dollars.
How large is Bane Foundation?
Bane Foundation reported $647K in total assets on its 2024 IRS Form 990-PF. It paid out $52K in qualifying distributions that year, against a required minimum of $54K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Bane Foundation fund?
No mission statement for the foundation is provided. Its grants show support for organizations with varied missions. For example, Southern College of Optometry says its mission is to educate healthcare providers, promote lifelong learning, and foster service. See mission & focus areas ↑
How do I apply for a grant from Bane Foundation?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Bane Foundation's EIN?
Bane Foundation's EIN (Employer Identification Number) is 54-1716303. IRS Form 990 filing data is available on this page for 2020–2024.
Does Bane Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Bane Foundation funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/bane-foundation-morg_9185d5e398bd49b397cb602cb6d5ce14
BibTeX
@misc{grantable_541716303_2026,
author = {{Grantable}},
title = {{Bane Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/bane-foundation-morg_9185d5e398bd49b397cb602cb6d5ce14},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Bane Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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