Robert J And Jennifer J Banks Charitable Tr
- Assets
- $10.3m
- Revenue
- $356.4k
- Investments
- $10.1m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 11/2004
- Data as of
- 12/2022
- EIN
- 20-6296856
Organization Overview
Robert J And Jennifer J Banks Charitable Tr is located in Wilmington, DE. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Robert J And Jennifer J Banks Charitable Tr is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Robert J And Jennifer J Banks Charitable Tr generated $356.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $741.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Robert J And Jennifer J Banks Charitable Tr has awarded 112 individual grants totaling $2,716,016. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer J Banks Trustee | 1 | $0 | |
Robert J Banks Trustee | 1 | $0 | |
Joseph Ritter Trustee | 1 | $0 | |
Kimberly Banks Ritter Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foundation Source | 12/30/21 | $53,502 |
Synovus Trust Company | 12/30/21 | $98,224 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,130 |
| Dividends & Interest | $37,162 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $317,061 |
| Capital Gain Net Income | $447,584 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $356,353 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,611 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,969 |
| Printing and publications | $0 |
| Other expenses | $48,982 |
| Total operating and administrative expenses | $147,851 |
| Contributions, gifts, grants paid | $593,766 |
| Total expenses and disbursements | $741,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $262,394 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,313,175 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Robert J And Jennifer J Banks Charitable Tr has awarded $593,766 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
Clearwater, FL PURPOSE: "THE PATHWAY TO RECOVERY RESOURCE CENTER", HOUSED WITHIN THE BEHAVIORAL HEALTH DEPARTMENT AT THE HOSPITALS OF MORTON PLANT MEASE PROGRAM | $200,000 |
SPRING LAKE RANCH INC PURPOSE: GYMNASIUM RENOVATION FUND | $100,000 |
PENNSYLVANIA STATE UNIVERSITY PURPOSE: ROBERT J. AND JENNIFER J. BANKS SCHOLARSHIP FUND | $50,000 |
SPRING LAKE RANCH INC PURPOSE: PROPOSAL FUND FOR NEW 12-UNIT FACILITY PROJECT | $42,316 |
Largo, FL PURPOSE: GENERAL & UNRESTRICTED | $30,000 |
Largo, FL PURPOSE: GENERAL & UNRESTRICTED | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |