Bane Foundation
Bane Foundation is a private foundation, based in SALEM, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $647K in total assets. In 2024, it awarded 53 grants totaling $52K. Net investment income was $51K.
Key facts about Bane Foundation
- EIN
- 54-1716303
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $51,800
- Grants made (2024)
- 53
- Average grant
- $977
- Median grant
- $500
- Total assets
- $646,948
- Primary geography
- Virginia (41% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated April 2026.
Who Bane Foundation funds
By grant dollars, the top recipient states for Bane Foundation's 53 itemized 2024 grants were Virginia (41%), 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). None of its 53 grants with a stated purpose were described as general or operating support. Recurring purposes include "Donation" (53 grants).
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$647K
-0.2% YoY
Annual Giving
$52K
-4.8% YoY
Grant Count
53
+26.2% YoY
Avg Grant Size
$977.358
-24.5% YoY
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.
About Bane Foundation
Based on IRS filings
Bane Foundation is a private foundation, based in SALEM, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $647K in total assets. In 2024, it awarded 53 grants totaling $52K. Net investment income was $51K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 53 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $646,948 | $648,206 | $650,736 |
| Revenue | $52,788 | $54,539 | $52,404 |
| Expenses | $54,046 | $56,569 | $54,572 |
| Qualifying Distributions | $51,800 | $54,400 | $52,636 |
| Net Investment Income | $50,542 | $49,658 | $47,485 |
| Distributable Amount | $53,989 | $54,212 | $51,954 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
215 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Emory & Henry College ($5,000), Southern College of Optometry ($5,000), St Jude Children's Research Hosp ($4,800).
| 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 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DR EUGENE M BANE JR | PRESIDENT/DI | — | — |
Frequently Asked Questions
How large is Bane Foundation?
As of 2024, Bane Foundation holds $647K in total assets with $53K in annual revenue. It awarded 53 grants totaling $52K in 2024.
Where does Bane Foundation operate?
Bane Foundation has awarded grants in Arizona, California, Colorado, District of Columbia, Florida, Illinois, Massachusetts, North Carolina, New York, Tennessee, Texas, Virginia, Vi, West Virginia.
What size grants does Bane Foundation award?
In 2024, Bane Foundation awarded 53 grants totaling $52K — an average of about $977.358 per grant, based on its IRS Form 990 filings.
How much is Bane Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Bane Foundation reported a distributable amount of $54K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Bane Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.