Frederick Banting Foundation Inc
Frederick Banting Foundation Inc is a private foundation, based in Richmond, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $289K in total assets. In 2024, it awarded 1 grant totaling $40K.
Frederick Banting Foundation Inc at a glance
In short: Frederick Banting Foundation Inc gave $40K across 1 grant in 2024 (avg $40K), mostly in Florida. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $40,000
- +0.0% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $40,000
- +0.0% vs 2023
- Median grant
- $40,000
- Total assets
- $289,344
- -12.3% vs 2023
- Primary geography
- Florida (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who Frederick Banting Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Diabetes Research Institute ($40K).
Grant Size Distribution
6 grants across all recorded years
The most common grant size was under $50K: 4 grants of 6 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
Cities
How Frederick Banting Foundation Inc gives
- Giving fell 84% from 2021 to 2024. Method
- In 2024 it paid out 249% of 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 $30K (2022) to $250K (2021). In 2024 it made 1 grant totaling $40K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Diabetes Research Institute Hollywood, FL | HSCI Type 1 Diabetes Research | $40,000 |
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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 | $289,344 | — | $40,655 | $40,000 | 1 | $40,000 | $16,086 |
| 2023 | $329,999 | — | $40,725 | $40,000 | 1 | — | $17,238 |
| 2022 | $370,724 | — | $30,625 | $30,000 | 1 | — | — |
| 2021 | $401,349 | — | $251,448 | $250,000 | 1 | — | — |
| 2020 | $652,797 | $139,357 | $53,692 | $52,000 | 2 | — | — |
Under IRS private-foundation payout rules, Frederick Banting Foundation Inc reported a distributable amount of $16K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Frederick Banting Foundation Inc's 2024 filing lists 3 officers; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Frederick L Russell Jr.
Chairmanceo
On filings since 2020
2 hrs/week
No compensation reported
John E Russell
Vice Chairman
On filings since 2020
1 hr/week
No compensation reported
Susan C Russell
Secretary
On filings since 2020
2 hrs/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 Frederick Banting Foundation Inc
How much does Frederick Banting Foundation Inc give each year?
Frederick Banting Foundation Inc gave $40K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $40K across 1 grant.
How large is Frederick Banting Foundation Inc?
Frederick Banting Foundation Inc reported $289K in total assets on its 2024 IRS Form 990-PF. It paid out $40K in qualifying distributions that year, against a required minimum of $16K (roughly 5% of its investment assets).
Where does Frederick Banting Foundation Inc operate?
Frederick Banting Foundation Inc has awarded grants in District of Columbia, Florida, Massachusetts.
What is Frederick Banting Foundation Inc's EIN?
Frederick Banting Foundation Inc's EIN (Employer Identification Number) is 45-1536759. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 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 October 25, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS September 28, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS February 10, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS June 17, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS October 27, 2025)
- IRS filings on file for fiscal years 2020–2024
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