Banker Steel Foundation
Banker Steel Foundation is a private foundation, based in Lynchburg, VA. IRS filing data is available from 2020 through 2024. In 2024, it awarded 3 grants totaling $10K.
Banker Steel Foundation at a glance
In short: Banker Steel Foundation gave $10K across 3 grants in 2024 (avg $3K), mostly in Virginia. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $9,500
- +46.2% vs 2023
- Grants made (2024)
- 3
- +0.0% vs 2023
- Average grant
- $3,167
- +46.2% vs 2023
- Median grant
- $2,500
- Primary geography
- Virginia (79% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Banker Steel Foundation funds
How this funder distributes its grants
Grant Size Distribution
31 grants across all recorded years
The most common grant size was under $50K: 31 grants of 31 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 3 itemized grants.
Cities
How Banker Steel Foundation gives
- Giving fell 39% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $7K (2023) to $46K (2022). In 2024 it made 3 grants totaling $10K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 3 individual scholarships Recipients not named | — | $9,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2024 | — | $9,500 | $11,974 | $9,500 | 3 | $9,500 | $80 |
| 2023 | $2,474 | $2,000 | $7,600 | $6,500 | 3 | $6,500 | $247 |
| 2022 | $8,074 | $51,000 | $45,558 | $45,500 | 13 | $45,500 | $385 |
| 2021 | $2,632 | $15,000 | $15,561 | $15,500 | 8 | $15,500 | $171 |
| 2020 | $3,193 | $12,000 | $12,500 | $12,500 | 4 | — | $158 |
Under IRS private-foundation payout rules, Banker Steel Foundation reported a distributable amount of $80 for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Banker Steel Foundation is led by Donald W. Banker, President & Director on every filing since 2020; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Donald W. Banker
President & Director
On filings since 2020
1 hr/week
No compensation reported
Daniel B. Banker
Director
On filings since 2020
1 hr/week
No compensation reported
Gregory R. Nichols
Secretary, Treasurer & Director
On filings since 2020
1 hr/week
No compensation reported
Cherie Goodman
Assistant Treasurer
On filings since 2020
1 hr/week
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 Banker Steel Foundation
How much does Banker Steel Foundation give each year?
Banker Steel Foundation gave $10K across 3 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $7K across 3 grants.
What is Banker Steel Foundation's typical grant size?
Banker Steel Foundation's median grant in 2024 was $2,500, and its average grant was $3,167, across 3 grants on its 2024 IRS Form 990-PF.
Where does Banker Steel Foundation give grants?
Banker Steel Foundation gives mostly in Virginia: 79% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was New York (21%).
Does Banker Steel Foundation give general operating support?
Not in 2024: none of the 3 grants with a stated purpose on Banker Steel Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "College Scholarship" (3 grants).
How much is Banker Steel Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Banker Steel Foundation reported a distributable amount of $80 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Banker Steel Foundation's EIN?
Banker Steel Foundation's EIN (Employer Identification Number) is 45-2856488. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS July 14, 2025)
- IRS filings on file for fiscal years 2020–2024
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Figures come from Banker Steel 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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