James P Banks Foundation
- Assets
- $3.8m
- Revenue
- $458.7k
- Investments
- $3.6m
- Employees
- 0
- Location
- Wheaton, IL
- Founding
- 01/2016
- Data as of
- 06/2024
- EIN
- 47-5582111
Organization Overview
James P Banks Foundation is located in Wheaton, IL. The organization was established in 2016. 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. James P 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 06/2024, James P Banks Foundation generated $458.7k 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 (19.2%) each year. All expenses for the organization totaled $278.1k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, James P Banks Foundation has awarded 37 individual grants totaling $1,032,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE JAMES P BANKS FOUNDATION (THE "FOUNDATION") IS A NONPROFIT ORGANIZATION WHOSE PURPOSE IS TO MAKE GRANTS TO OTHER TAX-EXEMPT ORGANIZATIONS AS DETERMINED BY THE DIRECTORS AND THE FOUNDATION. THE FOUNDATION MAKES BROAD BASED DONATIONS TO BE USED IN CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY, CULTURAL AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph A O'brien President | 1 | $0 | |
Justin Terzo Treasurer | 1 | $0 | |
Wendy A O'brien Secretary | 1 | $0 | |
James P Banks Former President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $303,088 |
| Interest on Savings | $112,567 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,082 |
| Capital Gain Net Income | $43,082 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $458,737 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $80,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,635 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $895 |
| Total operating and administrative expenses | $123,069 |
| Contributions, gifts, grants paid | $155,000 |
| Total expenses and disbursements | $278,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $151,883 |
| 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 | $3,788,555 |
| Accounts payable and accrued expenses | $5,228 |
| 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 | $5,228 |
Grants Awarded
Over the last fiscal year, James P Banks Foundation has awarded $155,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FAMOUS FIDO RESCUE & ADOPTION PURPOSE: SUPPORT | $10,000 |
SECOND CITY CANINE PURPOSE: SUPPORT | $20,000 |
SGT TOMMY'S KIDS PURPOSE: SUPPORT | $10,000 |
YOUNG AT HEART PET RESCUE PURPOSE: SUPPORT | $25,000 |
ALMOST HOME KIDS PURPOSE: SUPPORT | $65,000 |
GUARDIAN ANGEL BASSET RESCUE INC PURPOSE: SUPPORT | $10,000 |