The Banks Foundation Inc
The Banks Foundation Inc is a private foundation based in Warrenton, Virginia. The organization has been tax-exempt since April 1993 and operates as a 501(c)(3) nonprofit entity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6M
+14.9% YoY
Annual Giving
$163K
+2.5% YoY
Grant Count
51
+2.0% YoY
Avg Grant Size
$3K
+0.5% YoY
Under IRS private-foundation payout rules, The Banks Foundation Inc reported a distributable amount of $184K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation primarily funds general support and general purpose grants. Its grantmaking focuses on Education, Philanthropy, Voluntarism & Grantmaking, and Human Services.
Grantmaking
The Banks Foundation made 38 grants in 2024, with total giving of $162,500. Typical grant awards range from $100 to $12,000.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Florida, Virginia, and Maryland.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total assets: $1,581,196
- Total revenues: $368,478
- Total expenses: $162,930
- Number of employees: 0
Revenue Breakdown (FY 2024):
- Total grants and contributions: $10,000
- Investment income and dividends: $55,916
- Net gain from sale of non-inventory assets: $302,562
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,581,196 | $1,375,648 | $1,466,085 |
| Revenue | $368,478 | $68,713 | $44,422 |
| Expenses | $162,930 | $159,150 | $164,993 |
| Qualifying Distributions | $162,500 | $158,500 | $153,600 |
| Net Investment Income | $358,478 | $54,713 | $44,422 |
| Distributable Amount | $183,892 | $155,035 | $147,616 |
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
228 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Kabul Small Animal Rescue ($12,000), Iwmf ($10,000), The First Tee ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| A FOREVER HOME RESCUE FOUNDATION CHANTILLY, VA | GENERAL SUPPORT | $2,000 |
| ALZHEIMERS ASSOCIATION WASHINGTON, DC | GENERAL SUPPORT | $3,000 |
| AMAZON WATCH OAKLAND, CA | GENERAL SUPPORT | $4,000 |
| AMERICAN BRAIN TUMOR ASSOCIATION CHICAGO, IL | GENERAL SUPPORT | $1,000 |
| AMERICAN HUMANE ASSOCIATION WASHINGTON, DC | GENERAL SUPPORT | $1,000 |
| AMERICAN RED CROSS BOONE, IA | GENERAL SUPPORT | $3,000 |
| BEST FRIENDS ANIMAL SANCTUARY KANAB, UT | GENERAL SUPPORT | $4,000 |
| BLUE RIDGE WILDLIFE CENTER BOYCE, VA | GENERAL SUPPORT | $1,000 |
| BOYS & GIRLS CLUB OF BOCA RATON BOCA RATON, FL | GENERAL SUPPORT | $2,000 |
| BRRH FOUNDATION BOCA RATON, FL | GENERAL SUPPORT | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| VALERIE AMSTER | PRESIDENT | — | — |
| STEPHANIE BANKS | SECRETARY | — | — |
| DANIEL FRAZIN | DIRECTOR | — | — |
Frequently Asked Questions
What does The Banks Foundation Inc fund?
The foundation primarily funds general support and general purpose grants. Its grantmaking focuses on Education, Philanthropy, Voluntarism & Grantmaking, and Human Services.
How do I apply for a grant from The Banks Foundation Inc?
The Banks Foundation made 38 grants in 2024, with total giving of $162,500. Typical grant awards range from $100 to $12,000. Recent grantees include: • Kabul Small Animal Rescue ($12,000) • Workshops for Warriors ($10,000) • The Pachamama Alliance ($8,000) • Miami-Dade Amateur Golf Association The foundation does not currently have live grant opportunities listed.
Where does The Banks Foundation Inc make grants?
The foundation primarily funds organizations in Florida, Virginia, and Maryland.
What size grants does The Banks Foundation Inc award?
In 2024, The Banks Foundation Inc awarded 51 grants totaling $163K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is The Banks Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Banks Foundation Inc reported a distributable amount of $184K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Banks Foundation Inc's EIN?
The Banks Foundation Inc's EIN (Employer Identification Number) is 65-0308530. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Banks Foundation Inc's focus areas in our free grants database
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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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