James P Banks Foundation
James P Banks Foundation is a private foundation, based in Chicago, IL. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $40.9M in total assets. In 2025, it awarded 6 grants totaling $206K. Net investment income was $822K.
James P Banks Foundation at a glance
In short: James P Banks Foundation gave $206K across 6 grants in 2025 (avg $34K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $206,000
- +32.9% vs 2024
- Grants made (2025)
- 6
- -14.3% vs 2024
- Average grant
- $34,333
- +55.1% vs 2024
- Median grant
- $20,000
- Total assets
- $40,949,325
- +980.9% vs 2024
- Primary geography
- Illinois (68% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who James P Banks Foundation funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2025
The largest 2025 recipient was James Banks Memorial Fund ($111K). Together the top 6 received $206K.
Grant Size Distribution
35 grants across all recorded years
The most common grant size was under $50K: 30 grants of 35 (86%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 6 itemized grants.
Cities
How James P Banks Foundation gives
- Giving held roughly steady from 2022 to 2025 (+11%). Method
- In 2025 it paid out 27% 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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $155K (2023) to $206K (2025). In 2025 it made 6 grants totaling $206K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| James Banks Memorial Fund Wheaton, IL | Charitable | $111,000 |
| Elephants Rhinos & People Atlanta, GA | Charitable | $25,000 |
| One Tail at a Time Chicago, IL | Charitable | $20,000 |
| Harrison's Playmakers Elkhorn, NE | Charitable | $20,000 |
| Jonathans Place of SWFL Inc Fort Myers, FL | Support | $20,000 |
| Thomas M Gilbert Memorial Foundation Downers Grove, IL | Charitable | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $40,949,325 | $37,679,459 | $513,461 | $206,000 | 6 | $361,095 | $822,499 | $1,353,261 |
| 2024 | $3,788,555 | $458,737 | $278,069 | $155,000 | 7 | $155,000 | $132,752 | $208,174 |
| 2023 | $3,876,936 | $715,290 | $271,350 | $155,000 | 7 | $155,000 | $393,445 | $185,201 |
| 2022 | $3,702,087 | $999,226 | $296,933 | $185,000 | 8 | $185,000 | $631,836 | $198,692 |
| 2021 | $3,322,192 | $370,383 | $308,107 | $185,000 | 7 | — | $138,338 | $191,222 |
Under IRS private-foundation payout rules, James P Banks Foundation reported a distributable amount of $1.4M for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
James P Banks Foundation is led by Joseph O'Brien Sr., President since 2024 (on filings since 2021); 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Joseph O'Brien Sr.
President
Treasurer → President, 2024
On filings since 2021
1 hr/week
No compensation reported
Justin Terzo
Treasurer
Secretary → Treasurer, 2024
On filings since 2021
10 hrs/week
$47K (2025)
Wendy A. O'Brien
Secretary
On filings since 2024
1 hr/week
No compensation reported
Former officers (1)
- Former: James P. Banks (2021–2024) — Former President
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $47K, to Justin Terzo (Treasurer).
Frequently asked questions about James P Banks Foundation
How much does James P Banks Foundation give each year?
James P Banks Foundation gave $206K across 6 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $155K across 7 grants.
What is James P Banks Foundation's typical grant size?
James P Banks Foundation's median grant in 2025 was $20,000, and its average grant was $34,333, across 6 grants on its 2025 IRS Form 990-PF.
Where does James P Banks Foundation give grants?
James P Banks Foundation gives mostly in Illinois: 68% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Georgia (12%) and Nebraska (10%).
Does James P Banks Foundation give general operating support?
Not in 2025: none of the 6 grants with a stated purpose on James P Banks Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable" (5 grants).
Who are James P Banks Foundation's largest grantees?
James P Banks Foundation's largest 2025 grantees include James Banks Memorial Fund ($111,000), Elephants Rhinos & People ($25,000) and One Tail at a Time ($20,000), according to its 2025 IRS Form 990-PF. Together they received 76% of its itemized 2025 grant dollars.
How large is James P Banks Foundation?
James P Banks Foundation reported $40.9M in total assets on its 2025 IRS Form 990-PF. It paid out $361K in qualifying distributions that year, against a required minimum of $1.4M (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.
What is James P Banks Foundation's EIN?
James P Banks Foundation's EIN (Employer Identification Number) is 47-5582111. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
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