About Townebank Foundation
The mission of the TowneBank Foundation is to enhance the quality of life in the communities we serve.
Focus Areas
financial literacycommunity developmenteducationnonprofit capacity buildinggeneral operating support for local nonprofits
Who They Fund
nonprofit organizations (unspecified)general public/communities (unspecified)
Funding Style
general operating supportunrestricted supportbroad/discretionary charitable giving
Topics
general charitable support (unspecified focus areas)
About Townebank Foundation
Townebank Foundation’s giving is built around general charitable support for more than 200 local nonprofit organizations, with a stated mission to enhance the quality of life in the communities TowneBank serves. Recent grants show a strong pattern of support for Virginia institutions, alongside select gifts in North Carolina and a small number of other states. The largest recent grant on file is $312,500 to Virginia Wesleyan University in Virginia Beach, a sign that higher-education partners are part of the foundation’s portfolio. Repeated awards to Eastern Virginia Medical School Fou in Norfolk and Christopher Newport University Educ in Newport News point to sustained support for higher education and health-related organizations in coastal Virginia. The foundation also appears to back community-serving nonprofits through flexible charitable grants rather than tightly defined program awards. In the recent-grants list, that includes a $209,000 grant to Ivor Volunteer Rescue Squad Inc in Ivor and $200,000 grants to Hampton University and Virginia Stage Company, both in Virginia. The overall picture is of a regional funder using broad charitable dollars to support institutions tied to education, health, and community life.
What Townebank Foundation Funds
Education is a clear theme in Townebank Foundation’s recent giving. Grants include $312,500 to Virginia Wesleyan University for general charitable support, $200,000 to Christopher Newport University Educ, and $200,000 to Hampton University. Junior Achievement of Central Carol in Charlotte received $114,286 in 2023, 2024, and 2025, showing repeated support for financial literacy and youth education work. Health and emergency response also appear in the grant list. The foundation gave $209,000 to Ivor Volunteer Rescue Squad Inc and $125,000 to Mercy Medical Angels, both in Virginia. Community development shows up through gifts such as $100,000 to Judeo-christian Outreach Center in Virginia Beach and $100,000 to Norfolk Festevents Ltd in Norfolk. Cultural and civic organizations are present too, including $125,000 to Richmond Ballet and $100,000 to Chrysler Museum of Art.
How Townebank Foundation Gives
Townebank Foundation’s typical grant size is $2,500 at the 25th percentile, $20,000 at the median, and $50,000 at the 75th percentile, while the recent-grants list also includes larger six-figure awards. The grant pattern is not one-off only: Junior Achievement of Central Carol appears in three consecutive years, and Eastern Virginia Medical School Fou and Christopher Newport University Educ each appear more than once. The foundation operates as a grantmaker to nonprofit organizations and gives through Townebank Foundation Grants. Unsolicited applications are not accepted.
Financial Snapshot
Annual Giving
$22.6M
Total Assets
$20M
Total Revenue
$12M
Total Expenses
$9.1M
Typical Grant Size
Most grants fall between $3K and $50K, with a median of $20K.
25th Percentile
$3K
Median
$20K
75th Percentile
$50K
Geographic Reach
Regional16 states funded
About 77% of grants go to recipients in VA.
Funding intensity
LowHigh
Headquarters
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