The First Bank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHERAW, SC. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $600K in total assets. In 2024, it awarded 35 grants totaling $27K. Net investment income was $16K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$600K
-4.0% YoY
Annual Giving
$27K
-15.0% YoY
Grant Count
35
+2.9% YoY
Avg Grant Size
$771.429
-17.4% YoY
Under IRS private-foundation payout rules, The First Bank Foundation reported a distributable amount of $30K for 2024 — the minimum it must pay out in qualifying distributions.
About The First Bank Foundation
Based on IRS filings
The First Bank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHERAW, SC. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $600K in total assets. In 2024, it awarded 35 grants totaling $27K. Net investment income was $16K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $600,086 | $625,283 | $684,874 |
| Revenue | $16,409 | $40,312 | $27,610 |
| Expenses | $28,224 | $32,691 | $27,965 |
| Qualifying Distributions | $27,000 | $31,750 | — |
| Net Investment Income | $16,409 | $40,312 | $27,610 |
| Distributable Amount | $29,853 | $35,883 | $40,482 |
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
142 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Northeastern Technical College ($2,500), Mcarn Community Ministry ($2,000), Town of Cheraw Jazz Fest ($2,000).
| Recipient | Purpose | Amount |
|---|---|---|
| MCARN COMMUNITY MINISTRY Cheraw, SC | Operating Fund | $2,000 |
| CHERAW RESCUE SQUAD Cheraw, SC | Operating Fund | $500 |
| CHESTERFIELD FIRE DEPARTMENT Cheraw, SC | Operating Fund | $500 |
| GIRL SCOUT COUNCIL OF PEE DEE AREA Cheraw, SC | Operating Fund | $250 |
| NORTHEASTERN TECHNICAL COLLEGE Cheraw, SC | Operating Fund | $2,500 |
| PEE DEE AREA COALITION AGAINST DOMESTIC & SEXUAL-C Cheraw, SC | Operating Fund | $1,000 |
| ST DAVID'S CEMETERY ASSOC INC Cheraw, SC | Operating Fund | $1,000 |
| WALLACE RESCUE SQUAD Cheraw, SC | Operating Fund | $250 |
| PATHFINDERS UNITED Cheraw, SC | Operating Fund | $1,000 |
| PEE DEE LAND TRUST Cheraw, SC | Operating Fund | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| John Long | Director | — | — |
| James Crawford | Director | — | — |
| William Rhett Butler | Director | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The First Bank Foundation?
The First Bank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHERAW, SC. It holds $600K in total assets as of 2024.
How large is The First Bank Foundation?
As of 2024, The First Bank Foundation holds $600K in total assets with $16K in annual revenue. It awarded 35 grants totaling $27K in 2024.
Where does The First Bank Foundation operate?
The First Bank Foundation has awarded grants in South Carolina.
What size grants does The First Bank Foundation award?
In 2024, The First Bank Foundation awarded 35 grants totaling $27K — an average of about $771.429 per grant, based on its IRS Form 990 filings.
How much is The First Bank Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The First Bank Foundation reported a distributable amount of $30K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The First Bank Foundation's EIN?
The First Bank Foundation's EIN (Employer Identification Number) is 56-2068430. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in The First Bank Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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