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EIN 54-2036534

TowneBank Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Suffolk
State
Virginia
Year formed
2001
Most recent tax filings
2023-12-01
NTEE code, primary
T20: Private Foundations
Description
THE ORGANIZATION seekS to enhance the quality of life through financial contributions to many charitable and philanthropic organizations in the community. Fundraising in order to distribute funds to other qualified non-profit organizations. To raise money to provide donations to other charitable organizations.
Total revenues
$8,053,248
2023
Total expenses
$8,042,197
2023
Total assets
$17,075,591
2023
Num. employees
0
2023

Program areas at TowneBank Foundation

fUNDRAISING IN ORDER TO DISTRIBUTE FUNDS TO OTHER QUALIFIED NON-PROFIT ORGANIZATIONS. This year the organization gave to 79 charities ranging in missions from health and educational programs to animal welfare.
Fundraising to create the g. robert aston, jr. Scholarship fund to award scholarships to deserving applicants.
The Foundation conducts two major fundraisers each year to support its charitable activities. These events include a golf tournament and a fall extravaganza. All net proceeds from these events are used to fund the Foundation's scholarships and charitable contributions. The work for these events is performed by volunteers, minimizing expenses and maximizing the funds available for charitable purposes.

Grants made by TowneBank Foundation

GranteeGrant descriptionAmount
Ivor Volunteer Rescue SquadGen. Charitable$209,000
Virginia Stage Company (VSC)Gen. Charitable$200,000
Angel Canines and Wounded WarriorsGen. Charitable$125,000
...and 96 more grants made totalling $4,214,487

Who funds TowneBank Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Suffolk Foundation$23,500
Champions for Kids / C Barker Champions for Charity Inc$12,500
Williams Mullen FoundationContribution Provided$2,159
...and 3 more grants received

Personnel at TowneBank Foundation

NameTitleCompensation
Robyn S LeavyExecutive Director$25,000

Financials for TowneBank Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$5,925,402
Investment income and dividends$587,313
Net rental income$0
Net gain from sale of non-inventory assets$892,925
Gross sales of inventory$0
Miscellaneous revenues$647,608
Total revenues$8,053,248

Form 990s for TowneBank Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-13990PFView PDF
2022-122023-11-13990PFView PDF
2021-122022-11-10990PFView PDF
2020-122021-11-10990PFView PDF
2019-122020-10-19990PRView PDF
...and 10 more Form 990s
Data update history
July 20, 2024
Received grants
Identified 2 new grant, including a grant for $2,159 from Williams Mullen Foundation
July 9, 2024
Received grants
Identified 1 new grant, including a grant for $1,000 from Nindra Foundation
December 27, 2023
Received grants
Identified 1 new grant, including a grant for $7,500 from Suffolk Foundation
December 24, 2023
Posted financials
Added Form 990PF for fiscal year 2022
November 25, 2023
Posted financials
Added Form 990PF for fiscal year 2021
Nonprofit Types
Grantmaking organizationsPrivate foundationsCorporate foundationsPrivate non-operating foundationsCharities
Issues
Health
Characteristics
Provides grantsPartially liquidatedFundraising eventsFundraising races, competitions, and tournamentsTax deductible donationsNo full-time employees
General information
Address
6001 Harbour View Blvd
Suffolk, VA 23435
Metro area
Virginia Beach-Norfolk-Newport News, VA-NC
County
Suffolk city, VA
Phone
(757) 673-1783
IRS details
EIN
54-2036534
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
2001
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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