Nonprofit · EIN 01-0758677
WILLIAM AND KARIN BANKS FOUNDATION INC
Tax-exempt · BETHESDA, MD 20817
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $798,236 | $417,306 | $380,930 | $7,110,715 | $0 | $7,110,715 |
| December 31, 2024 | 990-PF | $630,089 | $398,053 | $232,036 | $6,729,785 | $0 | $6,729,785 |
| December 31, 2023 | 990-PF | $608,671 | $366,554 | $242,117 | $6,497,749 | $0 | $6,497,749 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $259,022
- Net gain from sales of assets
- $539,214
Expenses
- Grants and similar amounts paid
- $380,550
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $380,550
- Excise tax on investment income
- $10,946
Balance sheet and other
- Total assets, start of year
- $6,729,785
- Total assets, end of year
- $7,110,715
- Total liabilities, end of year
- $0
- Net assets, end of year
- $7,110,715
- Fair market value of assets
- $9,044,859
- Qualifying distributions
- $380,550
- Net investment income
- $798,236
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KARIN BANKS 1151 VISTA GLEN DRIVE3, ROCKINGHAM, VA 22801 | PRESIDENT | 0 | $0 |
| HARALD MANGOLD 55 EAST STREET, ANNAPOLIS, MD 214011728 | VICE-PRESIDENT | 0 | $0 |
990-PF for the year ended December 31, 2024: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KARIN BANKS 2205 BIG LONELY LANE, MONTEREY, VA 24465 | PRESIDENT | 0 | $0 |
| HARALD MANGOLD 55 EAST STREET, ANNAPOLIS, MD 214011728 | VICE-PRESIDENT | 0 | $0 |
990-PF for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KARIN BANKS 2205 BIG LONELY LANE, MONTEREY, VA 24465 | PRESIDENT | 0 | $0 |
| HARALD MANGOLD 55 EAST STREET, ANNAPOLIS, MD 214011728 | VICE-PRESIDENT | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 6500 ROCK SPRING DR STE 200, BETHESDA, MD 20817-1182
- In care of
- % WILLIAM F BANKS
- Signed the 990-PF
- KARIN M BANKS, PRESIDENT
- Phone
- (301) 571-1900
- Return prepared by
- GROSSBERG COMPANY LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 01-0758677
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $7,110,715
- Income (IRS master file)
- $3,051,639
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $798,236 | $417,306 | $7,110,715 | IRS |
| 990-PF | December 2024 | $630,089 | $398,053 | $6,729,785 | XML |
| 990-PF | December 2023 | $608,671 | $366,554 | $6,497,749 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-0758677).
Questions about WILLIAM AND KARIN BANKS FOUNDATION INC
- What is the EIN of WILLIAM AND KARIN BANKS FOUNDATION INC?
- The employer identification number (EIN) of WILLIAM AND KARIN BANKS FOUNDATION INC is 01-0758677.
- Is WILLIAM AND KARIN BANKS FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to WILLIAM AND KARIN BANKS FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does WILLIAM AND KARIN BANKS FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of WILLIAM AND KARIN BANKS FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WILLIAM AND KARIN BANKS FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of WILLIAM AND KARIN BANKS FOUNDATION INC?
- The 990-PF for the year ended December 31, 2025 lists 2 people; 0 received compensation from the organization.
- How much revenue does WILLIAM AND KARIN BANKS FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $798,236, expenses of $417,306 and total assets of $7,110,715 at year end.
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