Joseph B and Virginia H Banks Foundation
Joseph B and Virginia H Banks Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WILKESBARRE, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 20 grants totaling $82K. Net investment income was $79K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6M
-0.3% YoY
Annual Giving
$82K
-10.8% YoY
Grant Count
20
-16.7% YoY
Avg Grant Size
$4K
+7.0% YoY
Under IRS private-foundation payout rules, Joseph B and Virginia H Banks Foundation reported a distributable amount of $98K for 2024 — the minimum it must pay out in qualifying distributions.
About Joseph B and Virginia H Banks Foundation
Based on IRS filings
Joseph B and Virginia H Banks Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WILKESBARRE, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 20 grants totaling $82K. Net investment income was $79K.
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 | $1,635,623 | $1,641,187 | $1,798,317 |
| Revenue | $87,249 | $-54,675 | $65,195 |
| Expenses | $92,813 | $102,455 | $86,658 |
| Qualifying Distributions | $84,420 | $94,450 | $77,450 |
| Net Investment Income | $78,856 | $36,919 | $67,102 |
| Distributable Amount | $98,027 | $87,101 | $89,318 |
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
99 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Back Mountain Memorial Library Assn ($10,000), Weinburg Northeast Regional Food Ba ($10,000), Moa Prescription Fund ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| VOLUNTEERS IN MEDICINE WILKESBARRE, PA | PROGRAM SUPPORT | $2,000 |
| BACK MOUNTAIN MEMORIAL LIBRARY ASSN DALLAS, PA | PROGRAM SUPPORT | $10,000 |
| NORTHEAST SIGHT SERVICES EXETER, PA | PROGRAM SUPPORT | $3,000 |
| MEALS ON WHEELS OF WYOMING VALLEY KINGSTON, PA | PROGRAM SUPPORT | $3,500 |
| CASA OF LUZERNE COUNTY PLAINS, PA | PROGRAM SUPPORT | $2,000 |
| CHILDRENS SERVICE CENTER WILKESBARRE, PA | PROGRAM SUPPORT | $7,500 |
| DINNERS FOR KIDS EDWARDSVILLE, PA | PROGRAM SUPPORT | $5,000 |
| FAMILY SERVICES ASSOCIATION WILKESBARRE, PA | PROGRAM SUPPORT | $3,000 |
| ROTARY CLUB OF DALLAS DALLAS, PA | PROGRAM SUPPORT | $1,500 |
| WEINBURG NORTHEAST REGIONAL FOOD BA PITTSTON, PA | PROGRAM SUPPORT | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| J CHRISTOPHER BANKS | Trustee | — | — |
| J GREGORY BANKS | Trustee | — | — |
| JENNIFER BANKS SANTO | Trustee | — | — |
| MARGARET L BANKS | ADVIS BOARD MEM | — | — |
| LISA BANKS | ADVIS BOARD MEM | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Joseph B and Virginia H Banks Foundation?
Joseph B and Virginia H Banks Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WILKESBARRE, PA. It holds $1.6M in total assets as of 2024.
How large is Joseph B and Virginia H Banks Foundation?
As of 2024, Joseph B and Virginia H Banks Foundation holds $1.6M in total assets with $87K in annual revenue. It awarded 20 grants totaling $82K in 2024.
Where does Joseph B and Virginia H Banks Foundation operate?
Joseph B and Virginia H Banks Foundation has awarded grants in Idaho, Pennsylvania.
What size grants does Joseph B and Virginia H Banks Foundation award?
In 2024, Joseph B and Virginia H Banks Foundation awarded 20 grants totaling $82K — an average of about $4K per grant, based on its IRS Form 990 filings.
How much is Joseph B and Virginia H Banks Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Joseph B and Virginia H Banks Foundation reported a distributable amount of $98K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Joseph B and Virginia H Banks Foundation's EIN?
Joseph B and Virginia H Banks Foundation's EIN (Employer Identification Number) is 23-2953650. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Joseph B and Virginia H Banks 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.