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 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
Share of all 20 itemized 2025 grant dollars.
States
Cities
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 2025
Grant Size Distribution
103 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| WEINBURG NORTHEAST REGIONAL FOOD BA Pittston, PA | PROGRAM SUPPORT | $20,000 |
| BACK MOUNTAIN MEMORIAL LIBRARY ASSN Dallas, PA | PROGRAM SUPPORT | $10,000 |
| NORTHEAST SIGHT SERVICES Exeter, PA | PROGRAM SUPPORT | $10,000 |
| FORK OVER LOVE Kingston, PA | PROGRAM SUPPORT | $10,000 |
| MOA PRESCRIPTION FUND Kingston, PA | PROGRAM SUPPORT | $10,000 |
| RUTH'S PLACE Wilkes Barre, PA | PROGRAM SUPPORT | $7,500 |
| DINNERS FOR KIDS Edwardsville, PA | PROGRAM SUPPORT | $6,000 |
| CASA OF LUZERNE COUNTY Plains, PA | PROGRAM SUPPORT | $5,000 |
| FAMILY SERVICES ASSOCIATION Wilkesbarre, PA | PROGRAM SUPPORT | $5,000 |
| AUTISM FOUNDATION ALLIED SERVICES Clarks Summit, PA | PROGRAM SUPPORT | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| 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
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 12, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 11, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- 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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