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Banks Foundation is a private trust based in CORDOVA, TN. The foundation received its IRS ruling in 2003. The principal officer is Jerry M Banks. It holds total assets of $670K. Annual income is reported at $75K. Total assets have grown from $140K in 2011 to $595K in 2023. The foundation is governed by 2 officers and trustees. Donated 300000 to Mt Vernon Baptist Church Community Outreach. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. According to available records, Banks Foundation has made 6 grants totaling $352K, with a median grant of $61K. Annual giving has grown from $45K in 2020 to $65K in 2023. Grantmaking activity was highest in 2022 with $130K distributed across 2 grants. Individual grants have ranged from $45K to $65K, with an average award of $59K. Grant recipients are concentrated in Tennessee. Contributions to this foundation are tax-deductible.
Donated 225000 to Mt Vernon Baptist Church for Community Outreach
Expenses: $2K
Donated 300000 to Mt Vernon Baptist Church Community Outreach. Based on available records, the foundation has funded 6 grants. Its grantmaking reaches organizations primarily in TN.
Banks Foundation has distributed a total of $352K across 6 grants. The median grant size is $61K, with an average of $59K. Individual grants have ranged from $45K to $65K.
Banks Foundation typically selects its grantees rather than accepting unsolicited proposals.
Banks Foundation is headquartered in CORDOVA, TN.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Jerry M Banks | Executive Trustee | $0 | $0 | N/A |
| Jordan D Banks | Secretary Trustee | $0 | $0 | N/A |
Total Giving
$4K
Total Assets
$595K
Fair Market Value
$595K
Net Worth
$595K
Grants Paid
$4K
Contributions
$65K
Net Investment Income
N/A
Distribution Amount
$26K
Total Grants
6
Total Giving
$352K
Average Grant
$59K
Median Grant
$61K
Unique Recipients
1
Most Common Grant
$65K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Jerry M BanksDonation | Cordova, TN | $65K | 2023 |
UNION CITY, TN
CHATTANOOGA, TN
NASHVILLE, TN