Joseph B and Virginia H Banks Foundation

Foundation · Grantmaker Wilkesbarre, PA EIN: 23-2953650

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 2019 through 2025. As of 2025, the organization holds $1.7M in total assets. In 2025, it awarded 20 grants totaling $119K. Net investment income was $198K.

Key facts about Joseph B and Virginia H Banks Foundation

In short: Joseph B and Virginia H Banks Foundation gave $119K across 20 grants in 2025 (avg $6K), mostly in Pennsylvania. 5% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.

EIN
23-2953650
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$119,000
Grants made (2025)
20
Average grant
$5,950
Median grant
$5,000
New grantees (estimate)
5% first-time grantees (1 of 20, 2025)
Total assets
$1,712,501
Primary geography
Pennsylvania (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$1.7M

+4.7% YoY

Annual Giving

$119K

+44.3% YoY

Grant Count

20

+0.0% YoY

Avg Grant Size

$6K

+44.3% YoY

Under IRS private-foundation payout rules, Joseph B and Virginia H Banks Foundation reported a distributable amount of $103K for 2025 — the minimum it must pay out in qualifying distributions.

Is Joseph B and Virginia H Banks Foundation open to new grantees?

5%

first-time grantees, 2025

In 2025, 1 of 20 grantees (5%) were first-time recipients. First grants averaged $5K; repeat grants $6K. How we count

Medians: $5K first-time, $5K repeat.

  • 70% of 2025 grantees were also funded in 2024. Method
  • Giving grew 58% from 2022 to 2025. Method
  • In 2025 it paid out 118% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

2states

Share of all 20 itemized 2025 grant dollars.

Cities

Wilkes BarreDallasKingstonPlainsClarks SummitEdwardsvilleExeterShavertownPittstonScrantonFactoryvilleMoosicForty FortTunkhannockTwin FallsMountain TopNicholson

Giving Over Time

Total grant dollars and number of grants per year

$0$50K$100K$150K21 grants201916 grants202019 grants202120 grants202224 grants202320 grants202420 grants2025

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Weinburg Northeast Regional Food Ba: $20KWeinburg Northeast RegionalFood Ba$20KBack Mountain Memorial Library Assn: $10KBack Mountain Memorial LibraryAssn$10KNortheast Sight Services: $10KNortheast Sight Services$10KFork Over Love: $10KFork Over Love$10KMoa Prescription Fund: $10KMoa Prescription Fund$10KRuth's Place: $8KRuth's Place$8KDinners for Kids: $6KDinners for Kids$6KCASA of Luzerne County: $5KCASA of Luzerne County$5KFamily Services Association: $5KFamily Services Association$5KAutism Foundation Allied Services: $5KAutism Foundation AlliedServices$5K

Grant Size Distribution

103 grants across all recorded years

103<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
WEINBURG NORTHEAST REGIONAL FOOD BA Pittston, PAPROGRAM SUPPORT$20,000
BACK MOUNTAIN MEMORIAL LIBRARY ASSN Dallas, PAPROGRAM SUPPORT$10,000
NORTHEAST SIGHT SERVICES Exeter, PAPROGRAM SUPPORT$10,000
FORK OVER LOVE Kingston, PAPROGRAM SUPPORT$10,000
MOA PRESCRIPTION FUND Kingston, PAPROGRAM SUPPORT$10,000
RUTH'S PLACE Wilkes Barre, PAPROGRAM SUPPORT$7,500
DINNERS FOR KIDS Edwardsville, PAPROGRAM SUPPORT$6,000
CASA OF LUZERNE COUNTY Plains, PAPROGRAM SUPPORT$5,000
FAMILY SERVICES ASSOCIATION Wilkesbarre, PAPROGRAM SUPPORT$5,000
AUTISM FOUNDATION ALLIED SERVICES Clarks Summit, PAPROGRAM SUPPORT$5,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$500K$1M$1.5M2019202020212022202320242025
Metric202520242023
Total Assets$1,712,501$1,635,623$1,641,187
Revenue$207,421$87,249$-54,675
Expenses$130,543$92,813$102,455
Qualifying Distributions$120,950$84,420$94,450
Net Investment Income$198,409$78,856$36,919
Distributable Amount$102,817$98,027$87,101

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
  2. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
  3. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
  4. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
  5. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)
  6. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 12, 2025)
  7. Updated Form 990-PF for fiscal year 2025 (received by the IRS May 11, 2026)
  8. Added Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
  9. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
  10. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
  11. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
  12. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)

Leadership & Key People

Officers and directors from IRS filings

Joseph B and Virginia H Banks Foundation's 2025 filing lists 3 officers; none of the 3 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • J. Gregory Banks

    Trustee

    On filings since 2019

    No compensation reported

  • Jennifer Banks Santo

    Trustee

    On filings since 2019

    No compensation reported

  • Margaret L. Banks

    Advis Board Member

    On filings since 2019

    No compensation reported

Former officers (1)
  • Former: Lisa Banks (2019–2024) — Advis Board Member

Data from IRS Form 990 filings, 2019–2025. "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 Joseph B and Virginia H Banks Foundation

How much does Joseph B and Virginia H Banks Foundation give each year?

Joseph B and Virginia H Banks Foundation gave $119K across 20 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $82K across 20 grants.

What is Joseph B and Virginia H Banks Foundation's typical grant size?

Joseph B and Virginia H Banks Foundation's median grant in 2025 was $5,000, and its average grant was $5,950, across 20 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Joseph B and Virginia H Banks Foundation that year got $5K on average.

Where does Joseph B and Virginia H Banks Foundation give grants?

Joseph B and Virginia H Banks Foundation gives mostly in Pennsylvania: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Wilkesbarre, PA (6 grants), Dallas, PA (4 grants) and Kingston, PA (3 grants).

Does Joseph B and Virginia H Banks Foundation give general operating support?

Not in 2025: none of the 20 grants with a stated purpose on Joseph B and Virginia H Banks Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Program Support" (20 grants).

Who are Joseph B and Virginia H Banks Foundation's largest grantees?

Joseph B and Virginia H Banks Foundation's largest 2025 grantees include Weinburg Northeast Regional Food Ba ($20,000), Back Mountain Memorial Library Assn ($10,000) and Northeast Sight Services ($10,000), according to its 2025 IRS Form 990-PF. Together they received 34% of its itemized 2025 grant dollars.

How large is Joseph B and Virginia H Banks Foundation?

Joseph B and Virginia H Banks Foundation reported $1.7M in total assets on its 2025 IRS Form 990-PF. It paid out $121K in qualifying distributions that year, against a required minimum of $103K (roughly 5% of its investment assets).

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 $1.7M in total assets as of 2025.

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 2019–2025.

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

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