First Bancorp Inc Foundation is a private foundation focused on Education, based in ABINGDON, VA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $923K in total assets. In 2024, it awarded 15 grants totaling $78K. Net investment income was $12K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$923K
+57.5% YoY
Annual Giving
$78K
+680.0% YoY
Grant Count
15
+200.0% YoY
Avg Grant Size
$5K
+160.0% YoY
Under IRS private-foundation payout rules, First Bancorp Inc Foundation reported a distributable amount of $32K for 2024 — the minimum it must pay out in qualifying distributions.
About First Bancorp Inc Foundation
Based on IRS filings
First Bancorp Inc Foundation is a private foundation focused on Education, based in ABINGDON, VA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $923K in total assets. In 2024, it awarded 15 grants totaling $78K. Net investment income was $12K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $923,313 | $586,111 | $535,466 |
| Revenue | $422,156 | $66,113 | $547,640 |
| Expenses | $85,001 | $15,586 | $12,174 |
| Qualifying Distributions | $78,000 | $10,000 | — |
| Net Investment Income | $11,869 | $8,465 | $5,966 |
| Distributable Amount | $32,085 | $26,448 | — |
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
26 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Emory & Henry University ($50,000), Aidan Lowe ($2,000), Alexandria Looney ($2,000).
| Recipient | Purpose | Amount |
|---|---|---|
| EMORY & HENRY UNIVERSITY EMORY, VA | FINANCIAL LITERACY FUND | $50,000 |
| AIDAN LOWE CEDAR BLUFF, VA | SCHOLARSHIP | $2,000 |
| ALEXANDRIA LOONEY BRISTOL VA, VA | SCHOLARSHIP | $2,000 |
| KAILIN PHILLIPS RADFORD, VA | SCHOLARSHIP | $2,000 |
| BLAIR RUTHERFORD GLADE SPRING, VA | SCHOLARSHIP | $2,000 |
| SYDNEY TAYLOR SALTVILLE, VA | SCHOLARSHIP | $2,000 |
| ROBERY CAYDEN DISHMAN CASTLEWOOD, VA | SCHOLARSHIP | $2,000 |
| OSCAR MONTGOMERY WYTHVILLE, VA | SCHOLARSHIP | $2,000 |
| DEZARAY MOSIER LEBANON, VA | SCHOLARSHIP | $2,000 |
| SHANE JOSEPH HUGHES LEBANON, VA | SCHOLARSHIP | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WILLIAM M NELSON | DIRECTOR | — | — |
| WILLIAM H HAYTER | DIRECTOR | — | — |
| DAVID LEONARD | DIRECTOR | — | — |
| RONALD BARRETT | DIRECTOR | — | — |
| SOPHIA CHAFIN-VANCE | DIRECTOR | — | — |
| TRENT YATES | DIRECTOR | — | — |
| RALEIGH HAYTER | DIRECTOR | — | — |
| DAVID LEONDARD III | DIRECTOR | — | — |
| RONNIE BARRETT | DIRECTOR | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is First Bancorp Inc Foundation?
First Bancorp Inc Foundation is a private foundation focused on Education, based in ABINGDON, VA. It holds $923K in total assets as of 2024.
How large is First Bancorp Inc Foundation?
As of 2024, First Bancorp Inc Foundation holds $923K in total assets with $422K in annual revenue. It awarded 15 grants totaling $78K in 2024.
Where does First Bancorp Inc Foundation operate?
First Bancorp Inc Foundation has awarded grants in Virginia.
What size grants does First Bancorp Inc Foundation award?
In 2024, First Bancorp Inc Foundation awarded 15 grants totaling $78K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is First Bancorp Inc Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, First Bancorp Inc Foundation reported a distributable amount of $32K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is First Bancorp Inc Foundation's EIN?
First Bancorp Inc Foundation's EIN (Employer Identification Number) is 87-4174417. IRS Form 990 filing data is available on this page for 2022–2024.
Explore Open Grants
Browse active grant opportunities in First Bancorp Inc 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.
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