Joseph B And Virginia H Banks Foundation
- Assets
- $1.8m
- Revenue
- $185.6k
- Investments
- $1.7m
- Employees
- 0
- Location
- Wilkesbarre, PA
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 23-2953650
Organization Overview
Joseph B And Virginia H Banks Foundation is located in Wilkesbarre, PA. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Joseph B And Virginia H Banks Foundation 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 12/2021, Joseph B And Virginia H Banks Foundation generated $185.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $119.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Joseph B And Virginia H Banks Foundation has awarded 89 individual grants totaling $258,450. 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 |
|---|---|---|---|
J Christopher Banks Trustee | 0 | $0 | |
J Gregory Banks Trustee | 0 | $0 | |
Jennifer Banks Santo Trustee | 0 | $0 | |
Margaret L Banks Advis Board Mem | 0 | $0 | |
Lisa Banks Advis Board Mem | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $131,727 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $53,890 |
| Capital Gain Net Income | $53,890 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $185,617 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,345 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $19,789 |
| Contributions, gifts, grants paid | $100,000 |
| Total expenses and disbursements | $119,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,347 |
| Savings and temporary cash investments | $123,075 |
| 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 | $1,819,780 |
| 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, Joseph B And Virginia H Banks Foundation has awarded $100,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
WEINBERG NORTHEAST REGIONAL FOOD BA PURPOSE: PROGRAM SUPPORT | $17,500 |
CHILDRENS SERVICE CENTER PURPOSE: PROGRAM SUPPORT | $10,000 |
Kingston, PA PURPOSE: PROGRAM SUPPORT | $10,000 |
Plains, PA PURPOSE: PROGRAM SUPPORT | $10,000 |
NORTHEAST SIGHT SERVICES PURPOSE: PROGRAM SUPPORT | $7,500 |
Edwardsville, PA PURPOSE: PROGRAM SUPPORT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |