Townebank Richmond Foundation
TowneBank Richmond Foundation was a private foundation based in Richmond, Virginia. Its 2021 filing is marked as its final return and says its assets were consolidated into The TowneBank Foundation in December 2021, so it appears to have wound down as a separate foundation.
Townebank Richmond Foundation at a glance
In short: Townebank Richmond Foundation gave $645K across 117 grants in 2021 (avg $6K), mostly in Virginia. Source: 2021 IRS Form 990-PF.
- Annual giving (2021)
- $645,216
- -10.0% vs 2020
- Grants made (2021)
- 117
- -12.7% vs 2020
- Average grant
- $5,515
- +3.1% vs 2020
- Median grant
- $2,500
- Primary geography
- Virginia (82% of itemized 2021 grant dollars)
- Latest 990 filing
- Form 990-PF, 2021 View filing
Data from IRS Form 990-PF, 2021; updated October 2026.
How to apply to Townebank Richmond Foundation
- How to Apply
-
The filing says requests must be in writing and include the organization’s name, mission description, amount requested, and purpose for which the funds will be used. It says the foundation did not restrict giving to preselected organizations, and that contributions were granted primarily to nonprofit 501(c)(3) organizations serving TowneBank markets. These are filing instructions, not current application guidance, because the filing is marked as final.
- Review Cycle
- The filing lists “10 1”; the year and intended date format are not specified. This is not a current deadline.
- Deadline
- The filing lists “10 1”; the year and intended date format are not specified.
- Contact
Application contact: Townebank Richmond Foundation
Mailing address: 800 E Canal Street, Ste 700, Richmond, VA 23219
Phone: (804) 543-2470
Email: pam.carnahan@townebank.net
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Townebank Richmond Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2021
The largest 2021 recipient was PGA Tour Charities ($50K). Together the top 10 received $258K.
Organizations only. It also paid 6 grants to individuals ($42,000), which are not listed by name.
Grant Size Distribution
251 grants across all recorded years
The most common grant size was under $50K: 250 grants of 251 (100%).
Geographic Focus
Where this funder awards grants
In 2021, 82% of grant dollars went to recipients in Virginia and 17% to recipients in Florida. The filing also lists 0% for California, Louisiana, and the District of Columbia.
Grant Distribution by State
Share of 2021 grant dollars across all 117 itemized grants.
Cities
How Townebank Richmond Foundation gives
- 64% of 2021 grantees were also funded in 2020. Method
- In 2021 it paid out 82% 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). 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 2021, annual grant giving ranged from $645K (2021) to $717K (2020). In 2021 it made 117 grants totaling $645K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| PGA Tour Charities Ponte Vedra Beach, FL | Contribution | $50,000 |
| Boys Girls Club of Metro Richond Richmond, VA | Contribution | $35,000 |
| Richmond Ballet Richmond, VA | Contributions | $35,000 |
| Anna Julia Cooper Episcopal School Richmond, VA | Contribution | $20,000 |
| Feedmore Richmond, VA | Contribution | $20,000 |
| Medarva Richmond, VA | Contribution | $20,000 |
| PGA Tour Charities for PeterPaulDev Ponte Vedra Beach, FL | Contribution | $20,000 |
| 3 grants to individuals Recipients not named | — | $36,500 |
| YMCA of Greater Richmond Richmond, VA | Contribution | $20,000 |
| Beth Sholom of VA Richmond, VA | contribution | $15,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2021 | — | $964,729 | $730,500 | $645,216 | 117 | $645,216 | $891,706 | $787,340 |
| 2020 | $15,475,550 | $527,686 | $793,968 | $716,826 | 134 | — | $459,289 | $665,390 |
Under IRS private-foundation payout rules, Townebank Richmond Foundation reported a distributable amount of $787K for 2021 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2021 grants included support for organizations working in areas such as arts and culture, affordable housing, education, homelessness services, disability inclusion, and youth well-being. These are descriptions of grantees’ work, not stated focus areas of the foundation. For example, the Better Housing Coalition says it develops affordable housing in the Richmond metropolitan area, while the Valentine Museum says it collects, preserves, and interprets Richmond’s history. SOAR 365 describes its work as creating life-fulfilling opportunities for people with disabilities.
Grantmaking
In 2021, the foundation reported 117 grants totaling $645,216. Grants ranged from $50 to $50,000, with a median of $2,500. Among the largest grants were $50,000 to PGA TOUR Charities, $35,000 each to Boys & Girls Club of Metro Richmond and Richmond Ballet, and $20,000 each to Anna Julia Cooper Episcopal School, FeedMore, MEDARVA, PGA Tour Charities for PeterPaulDev, an individual recipient, and YMCA of Greater Richmond.
PGA TOUR Charities says it makes grants to qualified charitable organizations supporting youth well-being and other charitable initiatives. Richmond Ballet says it works to expand access to dance and unite people through arts experiences. Other reported grants included $15,000 each to Better Housing Coalition and the Valentine Museum, and $7,500 each to Good Samaritan Ministries, SOAR 365, and St. Andrew’s School.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2021 filing listed Elizabeth W Robertson as chairman and T Patrick Collins as president. Directors listed were Brad H Booker, Richard D Dickinson, J Morgan Davis, Kevin R Laing, Duncan S Owen, Erin S Jewett, Hugh T Harrison Jr, and George C Freeman III.
Townebank Richmond Foundation is led by T Patrick Collins, President on every filing since 2020; none of the 11 officers listed in 2021 report compensation.
Officers on the 2021 filing
T Patrick Collins
President
On filings since 2020
2 hrs/week
No compensation reported
Elizabeth W Robertson
Chairman
On filings since 2020
1 hr/week
No compensation reported
Brad H Booker
Director
Vice President → Director, 2021
On filings since 2020
1 hr/week
No compensation reported
Duncan S Owen
Director
On filings since 2020
1 hr/week
No compensation reported
Erin S Jewett
Director
On filings since 2020
1 hr/week
No compensation reported
George C Freeman III
Director
On filings since 2020
1 hr/week
No compensation reported
J Morgan Davis
Director
On filings since 2020
1 hr/week
No compensation reported
Kevin R Laing
Director
On filings since 2020
1 hr/week
No compensation reported
Richard D Dickinson
Director
On filings since 2020
1 hr/week
No compensation reported
Hugh T Harrison Jr.
Director
New on the 2021 filing
1 hr/week
No compensation reported
Pamela F Carnahan
Secretary Treasurer
Secretary & Treasurer → Secretary Treasurer, 2021
On filings since 2020
3 hrs/week
No compensation reported
Former officers (1)
- Former: Hugh T. Harrison II (2020) — Director
Data from IRS Form 990 filings, 2020–2021. "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 Townebank Richmond Foundation
How much does Townebank Richmond Foundation give each year?
Townebank Richmond Foundation gave $645K across 117 grants in 2021, according to its 2021 IRS Form 990-PF. In 2020 it gave $717K across 134 grants.
What is Townebank Richmond Foundation's typical grant size?
Townebank Richmond Foundation's median grant in 2021 was $2,500, and its average grant was $5,515, across 117 grants on its 2021 IRS Form 990-PF.
Where does Townebank Richmond Foundation give grants?
Townebank Richmond Foundation gives mostly in Virginia: 82% of the grant dollars itemized on its 2021 IRS Form 990-PF went to recipients there. The next largest state was Florida (17%). The most frequent recipient cities were Richmond, VA (78 grants), Ponte Vedra Beach, FL (9 grants), Henrico, VA (5 grants) and Glen Allen, VA (2 grants).
Does Townebank Richmond Foundation give general operating support?
Not in 2021: none of the 117 grants with a stated purpose on Townebank Richmond Foundation's 2021 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Contribution" (83 grants), "Matching Contribution" (28 grants) and "Matching Gift" (3 grants).
Who are Townebank Richmond Foundation's largest grantees?
Townebank Richmond Foundation's largest 2021 grantees include PGA Tour Charities ($50,000), Richmond Ballet ($42,000 across 2 grants) and Boys Girls Club of Metro Richond ($35,000), according to its 2021 IRS Form 990-PF. It also paid 6 grants to individuals ($42,000), which are not listed by name. Together they received 20% of its itemized 2021 grant dollars.
What does Townebank Richmond Foundation fund?
No mission statement for the foundation is provided. Its 2021 grants included support for organizations working in areas such as arts and culture, affordable housing, education, homelessness services, disability inclusion, and youth well-being. See mission & focus areas ↑
How do I apply for a grant from Townebank Richmond Foundation?
The filing says requests must be in writing and include the organization’s name, mission description, amount requested, and purpose for which the funds will be used. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
How much is Townebank Richmond Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2021, Townebank Richmond Foundation reported a distributable amount of $787K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Townebank Richmond Foundation's EIN?
Townebank Richmond Foundation's EIN (Employer Identification Number) is 54-1996321. IRS Form 990 filing data is available on this page for 2020–2021.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 7, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 4, 2022)
- IRS filings on file for fiscal years 2020–2021
Live grants for the work Townebank Richmond Foundation funds
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Figures come from Townebank Richmond Foundation'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.
Townebank Richmond Foundation down — hundreds of funders to go?