Banks Foundation

Private foundation · Grantmaker Cordova, TN EIN: 51-0436811

Banks Foundation is a private foundation, based in Cordova, TN. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $750K in total assets. In 2025, it awarded 2 grants totaling $160K.

Key facts about Banks Foundation

In short: Banks Foundation gave $160K across 2 grants in 2025 (avg $80K), mostly in Tennessee. Source: 2025 IRS Form 990-PF.

EIN
51-0436811
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$160,000
Grants made (2025)
2
Average grant
$80,000
Median grant
$80,000
Total assets
$750,035
Primary geography
Tennessee (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$750K

+11.9% YoY

Annual Giving

$160K

+113.3% YoY

Grant Count

2

+100.0% YoY

Avg Grant Size

$80K

+6.7% YoY

Under IRS private-foundation payout rules, Banks Foundation reported a distributable amount of $37K for 2025 — the minimum it must pay out in qualifying distributions.

How Banks Foundation gives

  • Giving grew 146% from 2022 to 2025. Method
  • In 2025 it paid out 12% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Share of 2025 grant dollars across all 2 itemized grants.

States

Cities

Cordova

Giving Over Time

Total grant dollars and number of grants per year

$0$50K$100K$150K$200K1 grant2020 1 grant2021 1 grant2022 1 grant2023 1 grant2024 2 grants2025

From 2020 to 2025, annual grant giving ranged from $45K (2020) to $160K (2025). In 2025 it made 2 grants totaling $160K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top recipient in 2025

Jerry M Banks: $160K across 2 grantsJerry M Banks$160K · 2 grants

The largest 2025 recipient was Jerry M Banks ($160K across 2 grants).

Grant Size Distribution

6 grants across all recorded years

<$50K6$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was in the $50–100K range: 6 grants of 6 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Jerry M Banks Cordova, TNDonation$80,000
Jerry M Banks Cordova, TNDonation$80,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
$0$25K$50K$75K$100K2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$750,035$670,035$595,035
Revenue$80,000$75,000$65,000
Expenses$4,300$4,000$3,500
Qualifying Distributions$4,300$4,000$3,500
Distributable Amount$36,939$32,999$26,104

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 17, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS June 28, 2023)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS April 25, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 2, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
  6. Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)

Leadership & Key People

Officers and directors from IRS filings

Banks Foundation's 2025 filing lists 2 officers; none of the 2 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Jerry M. Banks

    Executive Trustee

    On filings since 2020

    No compensation reported

  • Jordan D. Banks

    Secretary Trustee

    On filings since 2021

    No compensation reported

Former officers (1)
  • Former: Charlene W. Banks (2020) — Secretary Trustee

Data from IRS Form 990 filings, 2020–2025. "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 Banks Foundation

How much does Banks Foundation give each year?

Banks Foundation gave $160K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $75K across 1 grant.

How large is Banks Foundation?

Banks Foundation reported $750K in total assets on its 2025 IRS Form 990-PF. It paid out $4K in qualifying distributions that year, against a required minimum of $37K (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.

Where does Banks Foundation operate?

Banks Foundation has awarded grants in Tennessee.

What is Banks Foundation's EIN?

Banks Foundation's EIN (Employer Identification Number) is 51-0436811. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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