Robert R Banks Foundation Inc

Foundation · Grantmaker Reno, NV EIN: 94-3221616

Community Improvement & Capacity Building

Robert R Banks Foundation Inc is a private foundation focused on Community Improvement & Capacity Building, based in Reno, NV. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $3.7M in total assets. In 2025, it awarded 10 grants totaling $134K. Net investment income was $288K.

Key facts about Robert R Banks Foundation Inc

EIN: 94-3221616
Latest 990 filing: Form 990-PF, 2025
Annual giving (2025): $134,000
Grants made (2025): 10
Average grant: $13,400
Median grant: $10,000
New grantees (estimate): 10% first-time grantees (1 of 10, 2025)
Total assets: $3,711,621
Primary geography: Nevada (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).

Who Robert R Banks Foundation Inc funds

By grant dollars, the top recipient states for Robert R Banks Foundation Inc's 10 itemized 2025 grants were Nevada (100%). The most frequent recipient cities were Reno, NV (7 grants). 20% of grants with a stated purpose were for general or operating support. Recurring purposes include "Youth Services" (8 grants).

Is Robert R Banks Foundation Inc open to new grantees?

10%

first-time grantees, 2025

In 2025, 1 of 10 grantees (10%) were first-time recipients. First grants averaged $4K; repeat grants $14K. How we count

Medians: $4K first-time, $10K repeat.

90% of 2025 grantees were also funded in 2024. Method
Giving held roughly steady from 2022 to 2025 (−16%). Method
In 2025 it paid out 92% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Next steps with Robert R Banks Foundation Inc

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Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$3.7M

+2.4% YoY

Annual Giving

$134K

-23.2% YoY

Grant Count

-9.1% YoY

Avg Grant Size

$13K

-15.5% YoY

Under IRS private-foundation payout rules, Robert R Banks Foundation Inc reported a distributable amount of $218K for 2025 — the minimum it must pay out in qualifying distributions.

About Robert R Banks Foundation Inc

Based on IRS filings

Focus Areas

Community Improvement & Capacity Building

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Nevada $134K (100%)

Share of all 10 itemized 2025 grant dollars.

States

Nevada

Cities

RenoGardnervilleYeringtonMccarranNew Washoe City

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2025	2024	2023
Total Assets	$3,711,621	$3,623,673	$3,758,363
Revenue	$354,820	$169,769	$88,318
Expenses	$266,872	$304,459	$307,520
Qualifying Distributions	$199,935	$239,013	$239,313
Net Investment Income	$288,277	$104,607	$25,200
Distributable Amount	$218,043	$204,043	$201,746

Data update history

When this profile's IRS filing data changed on Grantable

March 3, 2026 IRS filings on file for fiscal years 2021–2025

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

60 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2025 grants, the largest recipients include Boys and Girls Club of Truckee Meadows ($40,000), Boys and Girls Club of Mason Valley ($20,000), Mefiyi Foundation ($15,000).

Recipient	Purpose	Amount
BOYS AND GIRLS CLUB OF TRUCKEE MEADOWS Reno, NV	YOUTH SERVICES	$40,000
BOYS AND GIRLS CLUB OF MASON VALLEY Yerington, NV	YOUTH SERVICES	$20,000
MEFIYI FOUNDATION Gardnerville, NV	YOUTH SERVICES	$15,000
ASSISTANCE LEAGUE OF RENO-SPARKS Reno, NV	YOUTH SERVICES	$10,000
BIG BROTHERS BIG SISTERS OF NORTHERN NEVADA Reno, NV	YOUTH SERVICES	$10,000
CARE CHEST OF SIERRA NEVADA Reno, NV	GENERAL SUPPORT	$10,000
THE CHILDRENS' CABINET Reno, NV	YOUTH SERVICES	$10,000
THE FIRST TEE OF NORTHERN NEVADA Reno, NV	YOUTH SERVICES	$10,000
FOR KIDS FOUNDATIONS Reno, NV	YOUTH SERVICES	$5,000
CANINE REHABILITATION CENTER New Washoe City, NV	GENERAL SUPPORT	$4,000

Leadership & Key People

Officers and directors from IRS filings

Robert R Banks Foundation Inc is led by Steve Petersen, President, Secretary & Treasurer since 2024 (on filings since 2021); all 3 officers listed in 2025 are compensated.

Officers on the 2025 filing

Steve Petersen

President, Secretary & Treasurer

Director → Secretary & Treasurer, 2022
Secretary & Treasurer → President, Secretary & Treasurer, 2024

On filings since 2021

5 hrs/week

$12K (2021) → $16K (2025)
Linda Horsey

Board Member

Secretary & Treasurer → Board Member, 2022

On filings since 2021

5 hrs/week

$12K (2021) → $16K (2025)
Chris McCune

Vice President

Board Member → Vice President, 2024

On filings since 2022

5 hrs/week

$3K (2022) → $16K (2025)

Former officers (2)

Former: Jack Harker (2021–2024) — Past President
Former: Jeff Eckroth (2021–2022) — Board Member

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

Subject Areas

Focus areas based on grantmaking activity

Community Improvement & Capacity Building

Frequently Asked Questions

What is Robert R Banks Foundation Inc?

Robert R Banks Foundation Inc is a private foundation focused on Community Improvement & Capacity Building, based in Reno, NV. It holds $3.7M in total assets as of 2025.

How large is Robert R Banks Foundation Inc?

As of 2025, Robert R Banks Foundation Inc holds $3.7M in total assets with $355K in annual revenue. It awarded 10 grants totaling $134K in 2025.

Where does Robert R Banks Foundation Inc operate?

Robert R Banks Foundation Inc has awarded grants in Nevada.

What size grants does Robert R Banks Foundation Inc award?

In 2025, Robert R Banks Foundation Inc awarded 10 grants totaling $134K — an average of about $13K per grant, based on its IRS Form 990 filings.

How much is Robert R Banks Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2025, Robert R Banks Foundation Inc reported a distributable amount of $218K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.