Robert R Banks Foundation
- Assets
- $3.6m
- Revenue
- $169.8k
- Investments
- $3.5m
- Employees
- 0
- Location
- Reno, NV
- Founding
- 03/1995
- Data as of
- 04/2024
- EIN
- 94-3221616
Organization Overview
Robert R Banks Foundation is located in Reno, NV. The organization was established in 1995. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Robert R 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 04/2024, Robert R Banks Foundation generated $169.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $304.5k during the year ending 04/2024. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Robert R Banks Foundation has awarded 148 individual grants totaling $1,462,530. 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
N/A - THE ACTIVITIES OF THE FOUNDATION ARE LIMITED SOLELY TO GRANT MAKING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Harker Past President | 5 | $2,500 | |
Linda Horsey Board Member | 5 | $14,250 | |
Steve Petersen President/secretary/treasurer | 5 | $14,250 | |
Chris Mccune Vice President | 5 | $14,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,125 |
| Dividends & Interest | $78,724 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $89,920 |
| Capital Gain Net Income | $89,920 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $169,769 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,250 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $912 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,134 |
| Printing and publications | $0 |
| Other expenses | $6,427 |
| Total operating and administrative expenses | $129,959 |
| Contributions, gifts, grants paid | $174,500 |
| Total expenses and disbursements | $304,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $112,349 |
| 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 | $488,877 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,623,673 |
| 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, Robert R Banks Foundation has awarded $174,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
BIG BROTHERS BIG SISTERS OF NORTHERN NEVADA PURPOSE: YOUTH SERVICES | $12,000 |
ASSISTANCE LEAGUE OF RENO-SPARKS PURPOSE: YOUTH SERVICES | $10,000 |
BOYS AND GIRLS CLUB OF MASON VALLEY PURPOSE: YOUTH SERVICES | $40,000 |
CARE CHEST OF SIERRA NEVADA PURPOSE: GENERAL SUPPORT | $10,000 |
FOR KIDS FOUNDATIONS PURPOSE: YOUTH SERVICES | $7,500 |
BOYS AND GIRLS CLUB OF TRUCKEE MEADOWS PURPOSE: YOUTH SERVICES | $40,000 |