TowneBank Foundation

Quick Stats

• EIN: 54-2036534
• Annual Giving: $7,418,106 (2023)
• Total Assets: $17,075,591
• Average Grant Size: $45,791
• Number of Awards: 162 grants (2023)
• Geographic Focus: Virginia and North Carolina (TowneBank service area)
• Founded: 2001
• Application Method: Regional relationship-based (no public online portal)

Contact Details

TowneBank Foundation 6001 Harbour View Boulevard Suffolk, VA 23435-2767

Phone: (757) 673-1783 Email: [email protected] Attention: Robyn Leavy, Executive Director

For Grant Inquiries: Contact your local TowneBank Regional President who serves your community. Decisions are made at the regional level.

Website: https://www.townebank.com/about-towne/community-involvement/

Overview

Founded in 2001, the TowneBank Foundation is the philanthropic arm of TowneBank, the largest bank chartered in the Commonwealth of Virginia with over $16 billion in assets and more than 60 locations. The Foundation's mission is to enhance the quality of life in the communities TowneBank serves throughout Virginia and North Carolina. In 2023, the Foundation awarded $7,418,106 in grants across 162 awards to nonprofit organizations. The Foundation's assets total over $17 million, funded through a percentage of TowneBank's annual profits, with the bank covering 100% of administrative fees. In 2023, TowneBank received the Virginia Community College System (VCCS) Chancellor's Award for Leadership in Philanthropy, recognizing its dedication to supporting community colleges. The Foundation has received six consecutive Outstanding CRA Ratings from the FDIC since 2007, demonstrating sustained commitment to community reinvestment.

Funding Priorities

Grant Programs

The TowneBank Foundation does not operate formal grant programs with fixed deadlines. Instead, grants are awarded on a rolling basis through regional decision-making. Decisions are made primarily at the regional level by TowneBank Regional Presidents who serve specific communities.

Primary Focus: Capital grants - the Foundation specifically states a preference for capital purposes, including building projects, facility improvements, and equipment purchases.

Grant Range: While specific minimum/maximum amounts are not published, the average grant size is $45,791. Notable grants have ranged from:

• Major capital grants: $500,000 (Tidewater Community College Visual Arts and Design Center)
• Multi-year commitments: $60,000 over three years (Senior Services of Southeastern Virginia)
• Substantial partnerships: $1 million (Hampton University Armstrong Stadium and athletic programs)

Priority Areas

The Foundation supports organizations in the following sectors:

Education

• Community colleges and technical education centers
• K-12 schools and school athletics programs
• Higher education institutions
• Career development and professional training programs

Arts and Culture

• Museums and galleries
• Visual and performing arts centers
• Cultural programming and facilities

Healthcare and Human Services

• Hospitals and medical centers
• Senior services and elderly care
• Human services organizations
• Programs serving economically disadvantaged populations

Hunger and Food Security

• Food banks and food pantries
• Community feeding programs
• Fresh food access initiatives

Youth Development

• Youth athletics and recreational programs
• Children and youth services
• Educational support for young people

Banking Industry Initiatives

• Financial literacy programs
• Economic development projects

Special Interest: Projects serving children and youth, economically disadvantaged people, and low-income people receive particular attention.

Geographic Focus

Grants are made to organizations within TowneBank's service area, which includes:

Virginia: Hampton Roads region (Virginia Beach, Norfolk, Newport News, Portsmouth, Suffolk, Williamsburg), Richmond and Central Virginia

North Carolina: Outer Banks, Raleigh, Greensboro-Winston Salem, Charlotte, Greenville, Morehead City, Fayetteville, Wilmington, and communities along the I-85 corridor

Recent Expansion: The bank has also entered South Carolina (Charleston), potentially expanding the Foundation's future geographic reach.

What They Don't Fund

The Foundation requires that all grantees must:

• Be classified as 501(c)(3) organizations under IRS rules and regulations
• Operate within TowneBank's service area

While not explicitly stated, the Foundation's focus on capital grants suggests limited support for:

• Operating expenses or general overhead
• Organizations outside their geographic service area
• Non-501(c)(3) entities

Governance and Leadership

Foundation Leadership

G. Robert Aston Jr. - President

• Founder of TowneBank (1998-1999)
• Executive Chairman of TowneBank Board since March 2018
• Previously served as Chairman and CEO of TowneBank (1999-2018)
• Inducted into Virginia Sports Hall of Fame as Distinguished Virginian (2011)

J. Morgan Davis - Vice President and Director

• President & Chief Executive Officer of TowneBank (served through December 2022)
• Co-founder of TowneBank
• Currently President & Regional Banking Director for Virginia and Northeastern North Carolina

William T. Hodsden - Secretary

• Co-founder of TowneBank

R. Scott Morgan - Treasurer

• Co-founder of TowneBank
• Retired as President and Senior Lending Officer but continues on board

Robyn S. Leavy - Executive Director

• Only compensated Foundation staff member ($25,000 annual compensation)
• Primary operational contact for the Foundation
• Active in community service initiatives including Habitat for Humanity

Key Quote from Leadership

President Marcia Conston of Tidewater Community College, in nominating TowneBank for the 2023 VCCS Chancellor's Award, highlighted their "continuing support of the college" and their collaborative approach to community impact through partnerships with organizations like the Foodbank of Southeastern Virginia.

Application Process & Timeline

How to Apply

Important: The TowneBank Foundation does not have a formal online application portal or standardized application forms. Applications are handled through a relationship-based, regional decision-making process.

Application Method:

1. Identify your local TowneBank Regional President who serves your community
2. Contact them directly to discuss charitable giving opportunities
3. Schedule a meeting to present your organization and funding needs
4. Work with the regional team to develop a grant proposal

Regional Contacts:

• Virginia and Northeastern North Carolina: Brian Skinner, President & Regional Banking Director
  • Phone: (804) 377-4200
  • Office: 800 East Canal Street Suite 100, Richmond, VA 23219
• North Carolina (Triangle, Charlotte, Triad, Greenville markets): Matt Davis, President & Regional Banking Director

Alternative Contact: Organizations may also reach out directly to:

• Robyn Leavy, Executive Director
• Phone: (757) 673-1783
• Email: [email protected]

Pre-Application Requirements:

• Must be a 501(c)(3) organization
• Should be located within TowneBank's service area
• Capital projects receive preference

Decision Timeline

Decision Process: Decisions are made at the regional level on a rolling basis. Specific timelines are not published, but as a private foundation with regional decision-making authority, the process may be more flexible than foundations with quarterly board meetings.

Notification: Not specified. Organizations should inquire about expected timelines during initial conversations with regional presidents.

Success Rates

Grant Activity:

• 162 awards made in 2023
• 236 awards made in 2022
• 110 awards made in 2021

Success Rate: Not publicly disclosed. The number of applications received is not available, so a formal success rate cannot be calculated.

Competitiveness: With over 200 nonprofit organizations receiving support annually and a relationship-based application process, success likely depends heavily on:

• Alignment with Foundation priorities (especially capital projects)
• Geographic location within service area
• Existing relationship with TowneBank
• Strength of community impact
• Quality of the project proposal

Reapplication Policy

Policy: Not explicitly stated in available sources.

Observations: The Foundation has made multi-year commitments (e.g., three-year grant to Senior Services of Southeastern Virginia), suggesting they support organizations over extended periods. Previous grantees appear eligible to reapply, particularly for new capital projects.

Recommendation: Organizations should maintain ongoing relationships with their regional TowneBank representatives and communicate about future funding needs.

Application Success Factors

Funder-Specific Insights

1. Capital Projects Are King The Foundation explicitly states: "The Foundation typically prefers to make grants to applicants within the bank's service area and primarily for capital purposes." This is the most important alignment factor. Your project should involve:

• Building construction or renovation
• Facility improvements or expansions
• Equipment purchases
• Capital campaign support

Example: Tidewater Community College received $500,000 for the Visual Arts and Design Center in downtown Norfolk - a clear capital project.

2. Geographic Alignment Is Essential You must be located within TowneBank's service area (Virginia and North Carolina communities where they have branches). The Foundation's mission explicitly focuses on "communities we serve."

3. Serve Priority Populations Projects serving these populations receive special interest:

• Children and youth
• Economically disadvantaged people
• Low-income people

Example: The Foundation's $250,000 gift to TCC helped launch the Community Feed, providing meals and fresh produce for students and community members experiencing food insecurity.

4. Build Banking Relationships First The application process is relationship-driven. As stated on their website: "Decisions regarding TowneBank sponsorships are primarily made at the regional level... contact the Regional President who serves your community."

Organizations should:

• Consider banking with TowneBank before applying
• Attend TowneBank community events
• Build relationships with local branch staff and regional leadership

5. Think Multi-Year and Partnership The Foundation values sustained impact and collaborative approaches:

• Senior Services received a three-year, $60,000 commitment
• The Community Feed involved partnership between TCC, TowneBank, and Foodbank of Southeastern Virginia
• Hampton University's $1 million grant included career services and professional development opportunities between the university and TowneBank

6. Leverage Fundraising Events The Foundation hosts two major annual fundraising events:

• Fall Extravaganza (held in October): Has raised nearly $6 million since 2004. The event features food, entertainment, silent auction, and networking opportunities.
• Charity Golf Tournament: Has raised around $2 million since 2001.

Participating in or supporting these events can increase visibility with Foundation leadership and demonstrate commitment to their mission.

7. Align with TowneBank's Community Recognition TowneBank received the 2023 VCCS Chancellor's Award for Leadership in Philanthropy, highlighting their commitment to community colleges. They have also received six consecutive Outstanding CRA Ratings from the FDIC since 2007. Use language in your application that resonates with:

• Community college support
• Community reinvestment
• Economic development
• Quality of life enhancement

8. Education Sector Advantage Multiple large grants have gone to educational institutions:

• Tidewater Community College: $500,000 + $250,000
• Pitt Community College: Grant for outdoor patio area
• Hampton University: $1 million
• TCC Regional Automotive Center support

If you're an educational institution, particularly a community college, you may have a competitive advantage.

Common Rejection Factors (Inferred)

While not explicitly documented, organizations likely face challenges if they:

• Operate outside TowneBank's service area
• Request operating support rather than capital funding
• Have no existing relationship with TowneBank
• Do not serve priority populations
• Are not 501(c)(3) organizations

Key Takeaways for Grant Writers

1. Capital Projects Only: Focus your request on capital needs - building, renovation, equipment. Operating grants are not the priority.

2. Geography Matters: Ensure you're in TowneBank's service area (Virginia/North Carolina). Check if there's a TowneBank branch in your community.

3. Relationships First, Applications Second: This is not an anonymous online portal. Start by building a relationship with your local TowneBank Regional President. Consider banking with TowneBank if you don't already.

4. Think Beyond the Check: The Foundation values partnerships and multi-dimensional relationships. The Hampton University grant included career services partnerships, not just funding.

5. Target Priority Populations: Emphasize how your capital project will serve children/youth, economically disadvantaged people, or low-income individuals.

6. Show Community Impact: TowneBank has won awards for community reinvestment. Demonstrate how your capital project enhances quality of life in the specific community where you operate.

7. Engage with Fundraising Events: Attend or support the Fall Extravaganza or Charity Golf Tournament to network with Foundation leadership and demonstrate organizational commitment to their mission.

References

• TowneBank Foundation Profile, Cause IQ: https://www.causeiq.com/organizations/townebank-foundation,542036534/ (Accessed March 11, 2026)
• TowneBank Foundation, Nonprofit Explorer - ProPublica: https://projects.propublica.org/nonprofits/organizations/542036534 (Accessed March 11, 2026)
• TowneBank Foundation Profile, Instrumentl: https://www.instrumentl.com/990-report/townebank-foundation (Accessed March 11, 2026)
• TowneBank Community Involvement: https://www.townebank.com/about-towne/community-involvement/ (Accessed March 11, 2026)
• Grantmakers.io Profile - Townebank Foundation: https://www.grantmakers.io/profiles/v0/542036534-townebank-foundation/ (Accessed March 11, 2026)
• "TowneBank receives 2023 VCCS Chancellor's Award for Leadership in Philanthropy," TCC Today: https://news.tcc.edu/townebank-receives-2023-vccs-chancellors-award-for-leadership-in-philanthropy/ (Accessed March 11, 2026)
• "Senior Services of Southeastern Virginia Announces Grant From the Townebank Foundation": https://www.ssseva.org/press/senior-services-of-southeastern-virginia-announces-grant-from-the-townebank-foundation/ (Accessed March 11, 2026)
• TowneBank Foundation Fall Extravaganza: https://townebank.ejoinme.org/MyEvents/2025FallExtravaganza/tabid/1552569/Default.aspx (Accessed March 11, 2026)
• G. Robert Aston Jr. Biography, TowneBank: https://www.townebank.com/biographies/executive-leadership/g-robert-aston-jr/ (Accessed March 11, 2026)
• J. Morgan Davis Biography, TowneBank: https://www.townebank.com/biographies/executive-leadership/j-morgan-davis/ (Accessed March 11, 2026)
• TowneBank Locations and ATMs: https://www.townebank.com/location-and-atms/ (Accessed March 11, 2026)
• TowneBank Foundation IRS Form 990-PF filings (2001-2023) available through ProPublica Nonprofit Explorer, GuideStar, and IRS databases