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Townebank Foundation is a private corporation based in SUFFOLK, VA. The foundation received its IRS ruling in 2001. The principal officer is William Hodsden. It holds total assets of $20M. Annual income is reported at $14.1M. Total assets have grown from $2.8M in 2019 to $20M in 2024. The foundation is governed by 5 officers and trustees. The foundation operates in the area of health. Tax records are available from 2017 to 2024. The foundation primarily funds organizations in Virginia and North Carolina. According to available records, Townebank Foundation has made 582 grants totaling $18.9M, with a median grant of $15K. Annual giving has grown from $5.3M in 2021 to $13.6M in 2022. Individual grants have ranged from N/A to $250K, with an average award of $32K. The foundation has supported 258 unique organizations. The foundation primarily supports organizations in Virginia, North Carolina, Tennessee, which account for 96% of all grants. Grantmaking reaches organizations across 14 states. Contributions to this foundation are tax-deductible.
Smallest Grant
$2K
Median Grant
$35K
Average Grant
$48K
Largest Grant
$250K
Based on 110 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Townebank Foundation primarily funds organizations in the area of health. Based on available records, the foundation has funded 582 grants. Its grantmaking reaches organizations primarily in VA, NC, TN.
Townebank Foundation has distributed a total of $18.9M across 582 grants. The median grant size is $15K, with an average of $32K. Individual grants have ranged from N/A to $250K.
The application deadline is SCHOLARSHIPS: APPLICATION AND ESSAY MUST BE SUBMITTED BY FEBRUARY 15 OF EACH YEAR. GENERAL GRANTS: G. Scholarships: applicant must be a child of a parent currently employed by townebank and its affiliates on a full-time basis for a minimum of two years. Applicant must be a current high school senior or have graduated from high school through an early graduation program. Applicant must enroll as a full-time student as defined by the accredited educational institution. General grants: the foundation typically prefers to make grants to applicants within the bank's service area and primarily for capital purposes. The non-profits must be classified as a 501(c)3 within irs rules and regulations.
Townebank Foundation is headquartered in SUFFOLK, VA. While based in VA, the foundation distributes grants to organizations across 14 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Robyn S Leavy | EXECUTIVE DI | $25K | $0 | $25K |
| William T Hodsden | SECRETARY & | $0 | $0 | N/A |
| J Morgan Davis | VP & DIRECTO | $0 | $0 | N/A |
| G Robert Aston Jr | PRESIDENT | $0 | $0 | N/A |
| R Scott Morgan | TREASURER & | $0 | $0 | N/A |
Total Giving
N/A
Total Assets
$20M
Fair Market Value
N/A
Net Worth
$20M
Grants Paid
N/A
Contributions
N/A
Net Investment Income
N/A
Distribution Amount
N/A
Total Grants
582
Total Giving
$18.9M
Average Grant
$32K
Median Grant
$15K
Unique Recipients
258
Most Common Grant
$50K
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| EgglestonGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Christopher Newport University EducGEN. CHARITABLE | Newport News, VA | $200K | 2022 |
| Eastern Virginia Medical School FouGEN. CHARITABLE | Norfolk, VA | $200K | 2022 |
| Forkids IncGEN. CHARITABLE | Chesapeake, VA | $125K | 2022 |
| Junior Achievement Of Central CarolGEN. CHARITABLE | Charlotte, NC | $114K | 2022 |
| Chesapeake Regional Health FoundatiGEN. CHARITABLE | Chesapeake, VA | $100K | 2022 |
| The Outer Banks HospitalGEN. CHARITABLE | Nags Head, NC | $100K | 2022 |
| Atrium Health FoundationGEN. CHARITABLE | Charlotte, NC | $100K | 2022 |
| Appalachian State University FoundaGEN. CHARITABLE | Boone, NC | $100K | 2022 |
| Suffolk Center For Cultural Arts FoGEN. CHARITABLE | Suffolk, VA | $100K | 2022 |
| Chrysler Museum Of ArtGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Virginia Arts FestivalGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Greenville-Enc AllianceGEN. CHARITABLE | Greenville, NC | $100K | 2022 |
| Children'S Hospital Of The Kings DaGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Sullenberger Aviation MuseumGEN. CHARITABLE | Charlotte, NC | $100K | 2022 |
| United Way Of South Hampton RoadsGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| The First Tee Of The TriangleGEN. CHARITABLE | Raleigh, NC | $100K | 2022 |
| Global Action PlatformGEN. CHARITABLE | Nashville, TN | $100K | 2022 |
| Chesapeake Bay AcademyGEN. CHARITABLE | Virginia Beach, VA | $100K | 2022 |
| Dorothea Dix Park ConservancyGEN. CHARITABLE | Raleigh, NC | $100K | 2022 |
| Virginia Symphony OrchestraGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Nauticus FoundationGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Tidewater Community College EducatiGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Virginia Stage CompanyGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Norfolk Botanical GardenGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Central Piedmont Community CollegeGEN. CHARITABLE | Charlotte, NC | $100K | 2022 |
| Norfolk Festevents LtdGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |
| Judeo-Christian Outreach CenterGEN. CHARITABLE | Virginia Beach, VA | $100K | 2022 |
| Elizabeth River ProjectGEN. CHARITABLE | Norfolk, VA | $100K | 2022 |