The Banks Foundation Inc
The Banks Foundation Inc is a private foundation based in Warrenton, Virginia. Its 2025 filing reports grants to charitable organizations, with listed purposes including general support.
The Banks Foundation Inc at a glance
In short: The Banks Foundation Inc gave $152K across 50 grants in 2025 (avg $3K), top state Florida. 26% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $151,500
- -6.8% vs 2024
- Grants made (2025)
- 50
- -2.0% vs 2024
- Average grant
- $3,030
- -4.9% vs 2024
- Median grant
- $2,000
- Total assets
- $1,817,672
- +15.0% vs 2024
- New grantees (estimate)
- 26% first-time grantees (13 of 50, 2025)
- Primary geography
- Florida (32% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Banks Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 9858 Cobblestone Drive, Warrenton, VA 20186
Phone: (954) 480-2611
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Banks Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Iwmf ($10K). Together the top 10 received $71K.
Grant Size Distribution
244 grants across all recorded years
The most common grant size was under $50K: 244 grants of 244 (100%).
Geographic Focus
Where this funder awards grants
In 2025, the largest shares of grant dollars went to recipients in Florida (32%), Virginia (15%), California (15%), Maryland (9%), and the District of Columbia (6%).
Grant Distribution by State
Share of 2025 grant dollars across all 50 itemized grants.
States
Cities
Is The Banks Foundation Inc open to new grantees?
26%
first-time grantees, 2025
In 2025, 13 of 50 grantees (26%) were first-time recipients. First grants averaged $2K; repeat grants $3K. How we count
Medians: $1K first-time, $2K repeat.
- 72% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−1%). Method
- In 2025 it paid out 72% 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 (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $97K (2020) to $163K (2024). In 2025 it made 50 grants totaling $152K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Iwmf Sarasota, FL | General Support | $10,000 |
| The First Tee Miami Lakes, FL | General Support | $10,000 |
| Workshop for Warriors San Diego, CA | General Support | $10,000 |
| Kabul Small Animal Rescue Oliver Springs, TN | General Support | $8,000 |
| Pachamama Alliance San Francisco, CA | General Support | $8,000 |
| Dogs Inc Palmetto, FL | General Support | $5,000 |
| Earthjustice Gift Processing Center Washington, DC | General Support | $5,000 |
| Fisher House Foundation Inc Rockville, MD | General Support | $5,000 |
| Memorial Sloan Kettering Cancer Center Hagerstown, VA | General Support | $5,000 |
| Michael J Fox Foundation Hagerstown, MD | General Support | $5,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,817,672 | $391,811 | $155,335 | $151,500 | 50 | $151,500 | $158,451 | $209,089 |
| 2024 | $1,581,196 | $368,478 | $162,930 | $162,500 | 51 | $162,500 | $358,478 | $183,892 |
| 2023 | $1,375,648 | $68,713 | $159,150 | $158,500 | 50 | $158,500 | $54,713 | $155,035 |
| 2022 | $1,466,085 | $44,422 | $164,993 | $153,600 | 53 | $153,600 | $44,422 | $147,616 |
| 2021 | $1,586,656 | $834,059 | $116,418 | $116,418 | 40 | $116,418 | $577,154 | $134,853 |
| 2020 | $869,015 | $248,211 | $106,805 | $96,600 | 38 | — | $36,491 | $95,138 |
Under IRS private-foundation payout rules, The Banks Foundation Inc reported a distributable amount of $209K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grantees include organizations working in a range of areas. For example, Kabul Small Animal Rescue describes its mission as rescuing, caring for, and finding homes for small animals in Afghanistan; Fisher House Foundation says it provides assistance to service members, veterans, and their families; and Mercy Chefs says it provides meals during disasters and emergencies and in underserved communities. These are the grantees’ stated missions, not the foundation’s.
Grantmaking
In 2025, the foundation gave $151,500 through 50 grants. Grants ranged from $1,000 to $10,000, with a median grant of $2,000. Among the largest were $10,000 each to IWMF, The First Tee, and Workshop for Warriors; $8,000 each to Kabul Small Animal Rescue and Pachamama Alliance; and $5,000 each to Dogs Inc, Earthjustice Gift Processing Center, Fisher House Foundation, Memorial Sloan Kettering Cancer Center, Michael J Fox Foundation, National Multiple Sclerosis Society, and The Association for Frontal Temporal Degeneration. The listed purposes for these grants were general support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Valerie Amster as president, Stephanie Banks as secretary, and Daniel Frazin as director.
The Banks Foundation Inc is led by Valerie Amster, President since 2024 (on filings since 2020); none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Valerie Amster
President
Co Secretary → President, 2024
On filings since 2020
No compensation reported
Daniel Frazin
Director
On filings since 2024
No compensation reported
Stephanie Banks
Secretary
Co Secretary → Secretary, 2024
On filings since 2020
No compensation reported
Former officers (1)
- Former: David P. Banks (2020–2023) — President & Hrs
Data from IRS Form 990 filings, 2020–2025. "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 The Banks Foundation Inc
How much does The Banks Foundation Inc give each year?
The Banks Foundation Inc gave $152K across 50 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $163K across 51 grants.
What is The Banks Foundation Inc's typical grant size?
The Banks Foundation Inc's median grant in 2025 was $2,000, and its average grant was $3,030, across 50 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Banks Foundation Inc that year got $2K on average.
Where does The Banks Foundation Inc give grants?
The Banks Foundation Inc's top state is Florida, with 32% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Virginia (15%) and California (15%). The most frequent recipient cities were Washington, DC (3 grants), West Palm Beach, FL (3 grants), Hagerstown, MD (2 grants) and Virginia Beach, VA (2 grants).
Does The Banks Foundation Inc give general operating support?
Yes: 100% of The Banks Foundation Inc's 2025 grants with a stated purpose (50 of 50) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Banks Foundation Inc's largest grantees?
The Banks Foundation Inc's largest 2025 grantees include Iwmf ($10,000), The First Tee ($10,000) and Workshop for Warriors ($10,000), according to its 2025 IRS Form 990-PF. Together they received 20% of its itemized 2025 grant dollars.
How large is The Banks Foundation Inc?
The Banks Foundation Inc reported $1.8M in total assets on its 2025 IRS Form 990-PF. It paid out $152K in qualifying distributions that year, against a required minimum of $209K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Banks Foundation Inc fund?
No mission statement for the foundation is provided. Its 2025 grantees include organizations working in a range of areas. See mission & focus areas ↑
How do I apply for a grant from The Banks Foundation Inc?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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 2020–2025.
Does The Banks Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- 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 23, 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 2, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 1, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 18, 2026)
- IRS filings on file for fiscal years 2020–2025
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Cite this profile
Grantable. (2026). The Banks Foundation Inc funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/the-banks-foundation-inc-morg_da243f3913d448c5bedd81f3c0962cd4
BibTeX
@misc{grantable_650308530_2026,
author = {{Grantable}},
title = {{The Banks Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-banks-foundation-inc-morg_da243f3913d448c5bedd81f3c0962cd4},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Banks Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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