TowneBank Foundation
At a glance
Key takeaways
- TowneBank Foundation grants chiefly for capital purposes and typically prefers applicants within the bank's service area, so a close fit with that preference and with 501(c)(3) status is the first test; organisations that are not classified as a 501(c)(3) within IRS rules should not apply.
- A modest request fits best: half of its 576 grants to organisations across its filings were $25,000 or less, and about 8 in 10 of 576 grants fall between $1,000 and $100,000, with a median of $25,000, though the largest grant was about $315,000.
- The IRS filing gives no deadlines, so applicants should use its Grant Request Form.
- In its latest filing, 75% of its grant dollars to organisations went to organisations it had also funded previously, so the foundation looks relationship-led, and first-time applicants should expect a competitive field for the remaining funds.
- Its scholarships are a separate strand, open only to children of parents employed full time by TowneBank and its affiliates for at least two years, so non-profits should not approach it for that programme.
Overview
TowneBank Foundation is a US private foundation based in Suffolk, VA.
What they fund
Profile derived from the foundation's IRS Form 990-PF filings (TY2024, TY2023, TY2022) and web pages about the foundation (townebank.com), with every statement checked against those sources. Sources read on 7 October 2026.
Priority Areas
The TowneBank Foundation’s mission is to enhance the quality of life in the communities it serves. It provides charitable grants and donations to non-profit organisations. For general grants, it typically prefers applicants within the bank’s service area and primarily for capital purposes; non-profits must be classified as a 501(c)(3) within IRS rules and regulations. It also offers scholarships for children of parents employed full time by TowneBank and its affiliates for at least two years.
Themes
- Capital purposes
Geographic Focus
No geographic focus is stated; the filings show grants mainly in Virginia and North Carolina.
What They Don't Fund
- Non-profits that are not classified as a 501(C)3 within IRS rules and regulations
How to apply
General grant requests use a Grant Request Form.
Application success factors
- Repeat giving: In its TY2024 filing, 75% of its grant dollars to organisations went to organisations it had also funded in its TY2022 or TY2023 filing.
- Grant size: Across its TY2022, TY2023 and TY2024 filings, half of its 576 grants to organisations were $25,000 or less.
What the foundation says:
- It typically prefers applicants within the bank’s service area and grants primarily for capital purposes.
- General-grant applicants must be classified as a 501(c)(3) within IRS rules and regulations.
Where grants go
From grants to organisations in the foundation’s filings for tax years 2022–2024.
Grant dollars by state
6 other states: <1%
- The largest single recipient received 3% of grant dollars to organisations.
- In tax year 2024, 75% of grant dollars went to organisations TowneBank Foundation had funded in earlier filings.
- No grants were paid directly to organisations outside the US.
- 1% of grant dollars went to intermediaries that regrant to other organisations.
Grants
How much do they typically give?
Share of 178 grants in tax year 2024 by size
Median $36,500 (tax year 2024)
The largest grants to organisations in the foundation’s latest filing:
- Virginia Wesleyan University · Gen. charitable$312,5002024 tax year
- Hampton University · Gen. charitable$200,0002024 tax year
- Eastern Virginia Medical School Foundation · Gen. charitable$200,0002024 tax year
- Christopher Newport University · Gen. charitable$200,0002024 tax year
- Equi-Kids Therapeutic Riding Program · Gen. charitable$150,0002024 tax year
- Richmond Ballet · Gen. charitable$125,0002024 tax year
- Children's Hospital Of The King's D · Gen. charitable$125,0002024 tax year
- Junior Achievement of Central Carolinas · Gen. charitable$114,2862024 tax year
Grants to organisations listed in the foundation’s Form 990-PF filings. Grants to individuals are not shown.
Officers and directors
- Robyn S Leavy — Executive Di
- R Scott Morgan — Treasurer &
- William T Hodsden — Secretary &
- J Morgan Davis — VP & Directo
- G Robert Aston Jr — President &
From the latest Form 990-PF filing
3 years of tax filings
| Year | Total expenses | Grants paid | Assets | Filing document |
|---|---|---|---|---|
| 2022 tax year | $6,976,850 | $6,813,368 | $25,188,672 | Filing for 2022 tax year |
| 2023 tax year | $8,042,197 | $7,418,106 | $25,952,231 | Filing for 2023 tax year |
| 2024 tax year | $9,065,216 | $8,330,131 | $30,442,470 | Filing for 2024 tax year |
Figures from the foundation’s IRS Form 990-PF filings. Assets are at fair market value at year end. The document icon links to each year’s filing on ProPublica Nonprofit Explorer.
Sources
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At a glance
Applying to TowneBank Foundation?
Hinchilla drafts your answers around this funder's priorities, using your organisation's own documents.
No credit card required
Contact
- (757) 673-1783
- ROBYN.LEAVY@TOWNEBANK.NET
- Suffolk, VA
Applying to TowneBank Foundation?
Hinchilla drafts your answers around this funder's priorities, using your organisation's own documents.
No credit card required
Contact
- (757) 673-1783
- ROBYN.LEAVY@TOWNEBANK.NET
- Suffolk, VA