Truist West Virginia Foundation Inc
The Truist West Virginia Foundation is a private charitable foundation established on December 13, 1971. It operates as a 501(c)(3) organization with headquarters in Orlando, Florida. The foundation is a component of the broader Truist Foundation ecosystem, which was created in 2020 following the merger of SunTrust Bank and BB&T.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$11.3M
+4.4% YoY
Annual Giving
$369K
-32.3% YoY
Grant Count
46
-9.8% YoY
Avg Grant Size
$8K
-24.9% YoY
Under IRS private-foundation payout rules, Truist West Virginia Foundation Inc reported a distributable amount of $599K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The mission of the Truist West Virginia Foundation is to improve the quality of life in West Virginia by supporting organizations and institutions that help people lead more rewarding and responsible lives and promote the general well-being of West Virginians.
Primary Funding Priorities
Economic Development is the foundation's primary focus area, with emphasis on:
- Small Business Development – Programs and projects that support the start-up and growth of small businesses
- Revitalize/Stabilize Communities – Programs that revitalize or stabilize communities through economic development efforts, downtown revitalization, removal of slum and blight, and other activities that promote job creation or economic improvement in underserved and distressed communities
Types of Support
The foundation supports projects that demonstrate sustainability and measurable impact. In order of importance, the foundation prefers to fund:
- Capital needs (considered on a case-by-case basis)
- Long-term financially viable initiatives
- Program support
- One-time expenses
- Specific project-based needs
The foundation occasionally makes grants in other areas of interest, including affordable housing, childcare, small business and workforce development.
Grantmaking
The foundation makes charitable contributions to publicly-supported, charitable organizations qualified under Section 501(c)(3) of the Internal Revenue Code.
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Geographic Focus
Where this funder awards grants
The Truist West Virginia Foundation serves the entire State of West Virginia with a desire to have geographic spread of investments to support all areas of the state.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
EIN: 55-6017269
The foundation's financial information is available through its most recent tax filings dated December 1, 2023.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $11,268,061 | $10,796,071 | $11,286,598 |
| Revenue | $901,874 | $66,878 | $161,204 |
| Expenses | $429,602 | $582,704 | $831,514 |
| Qualifying Distributions | $370,000 | $546,000 | $781,400 |
| Net Investment Income | $847,713 | $216,422 | $259,226 |
| Distributable Amount | $598,539 | $562,780 | $575,575 |
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
246 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include University of Charleston ($40,000), Wvu Medicine Children's ($30,000), Library Foundation of Kanawha County ($28,500).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN RED CROSS CENTRAL APPALACHIA CHARLESTON, WV | GENERAL OPERATING | $7,000 |
| BACKPACKBUDDYORG WINFIELD, WV | GENERAL OPERATING | $8,000 |
| BLUEFIELD ARTS AND REVITALIZATION CORP BLUEFIELD, WV | GENERAL OPERATING | $5,000 |
| BOB BURDETTE CENTER INC CHARLESTON, WV | GENERAL OPERATING | $3,000 |
| BUCKSKIN COUNCIL BSA CHARLESTON, WV | GENERAL OPERATING | $12,500 |
| BURLINGTON UNITED METHODIST FAMILY KEYSER, WV | GENERAL OPERATING | $7,000 |
| CAMP APPALACHIA SCOTT DEPOT, WV | GENERAL OPERATING | $5,000 |
| CABELL HUNTINGTON HOSPITAL FOUNDATI HUNTINGTON, WV | COMMUNITY | $7,500 |
| CAMC FOUNDATION INC CHARLESTON, WV | GENERAL OPERATING | $5,000 |
| CATHOLIC CHARITIES OF WV WHEELING, WV | GENERAL OPERATING | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MR STEVEN M RUBIN | MEMBER & TRUSTEE | 1 | — |
| DR EDWIN H WELCH | MEMBER & TRUSTEE | 1 | — |
| MRS ELLEN S CAPPELANTI | MEMBER & TRUSTEE | 1 | — |
| MRS TERRI CUTRIGHT | MEMBER & TRUSTEE | 1 | — |
| MRS JOANNE WADSWORTH | MEMBER & TRUSTEE | 1 | — |
| MRS ELIZABETH WEISBERG | MEMBER & TRUSTEE | 1 | — |
| MR STEVEN ROBEY | MEMBER & TRUSTEE | 1 | — |
| MR D SPENCER MURPHY | PRESIDENT | 1 | — |
| MRS COURTNEY L PAK | EXECUTIVE DIRECTOR | 1 | — |
| MRS MARLO LONG | SECRETARY | 1 | — |
Recent News & Activity
Recent developments and announcements
Recent grant announcements include:
Support for TechConnect West Virginia to launch a skills training program
TechConnect West Virginia Secures Truist Foundation Grant to Launch Skills$10,000 grant to Concord University's Pathways Scholarship program
Truist West Virginia Foundation grants $10,000 for Concord University\u2019\Support for an AI initiative at West Virginia State University
Truist West Virginia Foundation grants $10,000 for Concord University\u2019\$5,000 grant to Partner Community Capital for the Recreational Economies Initiative
Truist West Virginia Foundation Presents $5,000 Grant to Partner Community$25,000 grant to Marshall University Foundation
TechConnect West Virginia Secures Truist Foundation Grant to Launch SkillsFrequently Asked Questions
What does Truist West Virginia Foundation Inc fund?
The mission of the Truist West Virginia Foundation is to improve the quality of life in West Virginia by supporting organizations and institutions that help people lead more rewarding and responsible lives and promote the general well-being of West Virginians. **Economic Development** is the foundation's primary focus area, with emphasis on: • **Small Business Development** – Programs and projects that support the start-up and growth of small businesses • **Revitalize/Stabilize Communities** – …
How do I apply for a grant from Truist West Virginia Foundation Inc?
The foundation makes charitable contributions to publicly-supported, charitable organizations qualified under Section 501(c)(3) of the Internal Revenue Code. Recent grant awards documented include: • $25,000 to Marshall University Foundation • $10,000 to Concord University for Pathways Scholarship • $5,000 to Partner Community Capital for Recreational Economies Initiative The foundation has also supported initiatives at West Virginia State University and workforce development programs such as T…
Where does Truist West Virginia Foundation Inc make grants?
The Truist West Virginia Foundation serves the entire State of West Virginia with a desire to have geographic spread of investments to support all areas of the state.
What size grants does Truist West Virginia Foundation Inc award?
In 2024, Truist West Virginia Foundation Inc awarded 46 grants totaling $369K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is Truist West Virginia Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Truist West Virginia Foundation Inc reported a distributable amount of $599K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Truist West Virginia Foundation Inc's EIN?
Truist West Virginia Foundation Inc's EIN (Employer Identification Number) is 55-6017269. IRS Form 990 filing data is available on this page for 2020–2024.
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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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