Robert J and Jennifer J Banks Charitable
The Robert J and Jennifer J Banks Charitable Trust is a private foundation based in Wilmington, Delaware, established in 2004. The organization operates as a 501(c)(3) tax-exempt entity and functions as a grantmaking foundation supporting philanthropic initiatives across multiple sectors and geographic regions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$11.3M
+1.7% YoY
Annual Giving
$604K
+32.6% YoY
Grant Count
10
-50.0% YoY
Avg Grant Size
$60K
+165.1% YoY
Under IRS private-foundation payout rules, Robert J and Jennifer J Banks Charitable reported a distributable amount of $727K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports a diverse range of charitable causes including:
- Arts and culture
- Historical activities and historic preservation
- Education
- Health and medical initiatives
- Religion
- Human services
- Community health and wellness
The foundation has demonstrated particular interest in supporting behavioral health initiatives, including the Pathway to Recovery Resource Center housed within the behavioral health department at Morton Plant Mease hospitals.
Grantmaking
The foundation supports both general and unrestricted funding as well as project-specific grants.
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Geographic Focus
Where this funder awards grants
The foundation funds initiatives across multiple U.S. states and cities, including:
- States: Delaware, Florida, Michigan, Pennsylvania, Vermont, and Washington, D.C.
- Cities: Bay Harbor, Bridgeville, Clearwater, Detroit, and others
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2023:
- Total assets: $11,067,984
- Total revenues: $1,358,816
- Total expenses: $604,007
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $11,257,677 | $11,067,984 | $10,313,175 |
| Revenue | $963,698 | $1,358,816 | $356,353 |
| Expenses | $774,005 | $604,007 | $741,617 |
| Qualifying Distributions | $662,684 | $514,106 | $644,717 |
| Net Investment Income | $356,341 | $269,572 | $398,676 |
| Distributable Amount | $726,722 | $534,427 | $508,185 |
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 Spring Lake Ranch Inc ($418,026), Spring Lake Ranch Inc ($114,228), Pennsylvania State University ($50,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN HEART ASSOCIATION INC DALLAS, TX | General & Unrestricted | $1,000 |
| BRIDGEVILLE AREA HISTORICAL SOCIETY BRIDGEVILLE, PA | General & Unrestricted | $10,000 |
| CLEARWATER FREE CLINIC INC CLEARWATER, FL | General & Unrestricted | $5,000 |
| CLEARWATER SALVATION ARMY TRUST CLEARWATER, FL | General & Unrestricted | $2,500 |
| GROSSE POINTE WOODS FOUNDATION GROSSE PT FRM, MI | General & Unrestricted | $1,000 |
| LEVEEN-ROACH SCHOLARSHIP FUND OF SECESSION GOLF CL BEAUFORT, SC | General & Unrestricted | $200 |
| MARINE CORPS SCHOLARSHIP FOUNDATION INC ALEXANDRIA, VA | The Basic School (TBS) 4-67 Scholarship Fund | $2,500 |
| PENNSYLVANIA STATE UNIVERSITY STATE COLLEGE, PA | Robert J . and Jennifer J . Banks Scholarship Fund | $50,000 |
| SPRING LAKE RANCH INC SHREWSBURY, VT | Banks' Project | $114,228 |
| SPRING LAKE RANCH INC SHREWSBURY, VT | Banks' Expansion Project | $418,026 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is managed by four trustees, all serving without compensation:
- Robert J Banks
- Jennifer J Banks
- Kimberly Banks Ritter
- Joseph Ritter
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Jennifer J Banks | Trustee | 1 | — |
| Robert J Banks | Trustee | 1 | — |
| Kimberly Banks Ritter | Trustee | 1 | — |
| Joseph Ritter | Trustee | 1 | — |
Recent News & Activity
Recent developments and announcements
The Banks family has demonstrated significant philanthropic commitment to higher education, including a $5 million commitment to support the University of Florida's preeminence initiative. Robert J and Jennifer J Banks were named co-chairs of a planned giving campaign in 2014–2015.
Robert J And Jennifer J Banks Charitable Tr - Full Filing - News AppsSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Robert J and Jennifer J Banks Charitable fund?
The foundation supports a diverse range of charitable causes including: • Arts and culture • Historical activities and historic preservation • Education • Health and medical initiatives • Religion • Human services • Community health and wellness The foundation has demonstrated particular interest in supporting behavioral health initiatives, including the Pathway to Recovery Resource Center housed within the behavioral health department at Morton Plant Mease hospitals.
How do I apply for a grant from Robert J and Jennifer J Banks Charitable?
**Grant Activity:** • Total giving in 2023: $456,000 • Number of grants made in 2023: 20 grants • Typical award range: $200,000–$225,000 **Recent Grants (2023):** • Spring Lake Ranch: $225,000 (Banks' Project) • Bridgeville Area Historical Society: $30,000 (Capital Improvements) • Berkeley Preparatory School: $25,000 (Scholarship Fund) The foundation supports both general and unrestricted funding as well as project-specific grants.
Where does Robert J and Jennifer J Banks Charitable make grants?
The foundation funds initiatives across multiple U.S. states and cities, including: • **States:** Delaware, Florida, Michigan, Pennsylvania, Vermont, and Washington, D.C. • **Cities:** Bay Harbor, Bridgeville, Clearwater, Detroit, and others
What size grants does Robert J and Jennifer J Banks Charitable award?
In 2024, Robert J and Jennifer J Banks Charitable awarded 10 grants totaling $604K — an average of about $60K per grant, based on its IRS Form 990 filings.
How much is Robert J and Jennifer J Banks Charitable required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Robert J and Jennifer J Banks Charitable reported a distributable amount of $727K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Robert J and Jennifer J Banks Charitable's EIN?
Robert J and Jennifer J Banks Charitable's EIN (Employer Identification Number) is 20-6296856. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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