Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
TOWNEBANK FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)6001 HARBOUR VIEW BLVD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SUFFOLK, VA23435
A Employer identification number

54-2036534
B Telephone number (see instructions)

(757) 673-1783
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$2,129,627J Accounting method:
CASH
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 3,233,710
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 34,940 34,940  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 23,593
b Gross sales price for all assets on line 6a 23,593
7 Capital gain net income (from Part IV, line 2)... 23,593
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 552,755 70,006 482,749
12 Total. Add lines 1 through 11........ 3,844,998 128,539 482,749
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 370 0 0 370
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,291 0 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 219,117 0 0 219,117
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 221,778 0 0 219,487
25 Contributions, gifts, grants paid....... 3,203,539 3,203,539
26 Total expenses and disbursements. Add lines 24 and 25 3,425,317 0 0 3,423,026
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 419,681
b Net investment income (if negative, enter -0-) 128,539
c Adjusted net income (if negative, enter -0-)... 482,749
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 451,876 642,011 642,011
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,300,474 Click to see attachment1,399,807 1,304,091
c Investments—corporate bonds (attach schedule)....... 199,800 Click to see attachment199,800 183,525
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,952,150 2,241,618 2,129,627
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................   10,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 10,000
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 1,952,150 2,231,618
30 Total net assets or fund balances (see instructions)..... 1,952,150 2,231,618
31 Total liabilities and net assets/fund balances (see instructions). 1,952,150 2,241,618
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,952,150
2
Enter amount from Part I, line 27a .....................
2
419,681
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
2,371,831
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
140,213
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
2,231,618
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a CAPITAL GAINS DIVIDENDS P    
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 23,593     23,593
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       23,593
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 23,593
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 2,543,356 2,983,393 0.852505
2016      
2015      
2014      
2013      
2
Total of line 1, column (d) .....................
2
0.852505
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.852505
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
3,187,952
5
Multiply line 4 by line 3......................
5
2,717,745
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,285
7
Add lines 5 and 6........................
7
2,719,030
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,423,026
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 1,285
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 1,285
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,285
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 53
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,338
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletVA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. Click to see attachment...............................
    10
    Yes
     
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletROBYN S LEAVY Telephone no.bullet (757) 673-1783

    Located atbullet6001 HARBOUR VIEW BLVDSUFFOLKVA ZIP+4bullet23435
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    G ROBERT ASTON JR PRESIDENT AND DIRECTOR
    2.00     		0 0 0
    6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    J MORGAN DAVIS VICE PRESIDENT AND DIRECTOR
    2.00     		0 0 0
    6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    WILLIAM T HODSEN SECRETARY AND DIRECTOR
    2.00     		0 0 0
    6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    ROBYN S LEAVY EXECUTIVE DIRECTOR
    8.00     		0 0 0
    6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    R SCOTT MORGAN TREASURER AND DIRECTOR
    2.00     		0 0 0
    6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,758,161
    b
    Average of monthly cash balances.......................
    1b
    1,478,338
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,236,499
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    3,236,499
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    48,547
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,187,952
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    159,398
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    159,398
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,285
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,285
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    158,113
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    158,113
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    158,113
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    3,423,026
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    3,423,026
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    1,285
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,421,741
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 158,113
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017...... 2,396,477
    fTotal of lines 3a through e........ 2,396,477
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,423,026
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 158,113
    e Remaining amount distributed out of corpus 3,264,913
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 5,661,390
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		5,661,390
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017.... 2,396,477
    e Excess from 2018.... 3,264,913
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    TOWNEBANK ATTENTION ROBYN LEAVY
    6005 HARBOUR VIEW BLVD
    SUFFOLK,VA23435
    (757) 638-6700
    ROBYN.LEAVY@TOWNEBANK.NET
    bThe form in which applications should be submitted and information and materials they should include:
    SCHOLARSHIP APPLICATION FORM, BRIEF ESSAY, TRANSCRIPTS, SAT/ACT SCORE
    cAny submission deadlines:
    APPLICATION AND ESSAY MUST BE SUBMITTED BY FEBRUARY 15 OF EACH YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    APPLICANT MUST BE A CHILD OF A PARENT CURRENTLY EMPLOYED BY TOWNEBANK AND ITS AFFILIATES ON A FULL-TIME BASIS FOR A MINIMUM OF TWO YEARS. APPLICANT MUST BE A CURRENT HIGH SCHOOL SENIOR OR HAVE GRADUATED FROM HIGH SCHOOL THROUGH AN EARLY GRADUATION PROGRAM. APPLICANT MUST ENROLL AS A FULL-TIME STUDENT AS DEFINED BY THE ACCREDITED EDUCATIONAL INSTITUTION.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACCESS COLLEGE FOUNDATION
    7300 NEWPORT AVENUE SUITE 500
    NORFOLK,VA23505     		NONE PC GENERAL SUPPORT 25,000
    APPALACHIAN STATE UNIVERSITY
    PO BOX 32043
    BOONE,NC28608     		NONE PC GENERAL SUPPORT 2,500
    BETH SHOLOM HOME OF EASTERN VIRGNIA
    6401 AUBURN DRIVE
    VIRGINIA BEACH,VA23464     		NONE PC GENERAL SUPPORT 10,000
    BHARAT INC DBA HINDU TEMPLE OF HAMPTON
    3235 ACADEMY AVENUE SUITE 305
    PORTSMOUTH,VA23703     		NONE PC GENERAL SUPPORT 50,000
    BON SECOURS HAMPTON ROADS FOUNDATION
    100 KINKSLEY LANE SUITE 204
    NORFOLK,VA23505     		NONE PC GENERAL SUPPORT 25,000
    CATHOLIC CHARITIES OF EASTERN VIRGINIA
    5361 VIRGINIA BEACH BOULEVARD
    VIRGINIA BEACH,VA23462     		NONE PC GENERAL SUPPORT 30,000
    CHESAPEAKE BAY ACADEMY
    821 BAKER ROAD
    VIRGINIA BEACH,VA23462     		NONE PC GENERAL SUPPORT 30,000
    CHILD & FAMILY SERVICES OF EASTERN VIRGINIA INC
    150 BOUSH STREET SUITE 500
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 7,500
    CHILDREN'S HOSPITAL OF THE KINGS DAUGHTERS
    601 CHILDRENS LANE
    NORFOLK,VA23507     		NONE PC GENERAL SUPPORT 100,000
    CHRISTOPHER NEWPORT COLLEGE EDUCATIONAL FOUNDATION
    50 SHOE LANE
    NEWPORT NEWS,VA23606     		NONE PC GENERAL SUPPORT 125,000
    CHRISTOPHER NEWPORT UNIVERSITY
    1 AVENUE OF THE ARTS
    NEWPORT NEWS,VA23606     		NONE PC GENERAL SUPPORT 5,000
    CHRYSLER MUSEUM OF ART
    245 W OLNEY ROAD
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 100,000
    DOROTHEA DIX PARK (NC COMMUNITY FOUNDATION)
    2626 GLENWOOD AVENUE
    RALEIGH,NC27608     		NONE PC GENERAL SUPPORT 100,000
    EDMARC HOSPICE FOR CHILDREN
    516 LONDON STREET
    PORTSMOUTH,VA23704     		NONE PC GENERAL SUPPORT 50,000
    ELEVATE EARLY EDUCATION INC
    12 SOUTH THIRD STREET
    RICHMOND,VA23219     		NONE PC GENERAL SUPPORT 50,000
    ELIZABETH RIVER PROJECT
    475 WATER STREET SUITE C103A
    PORTSMOUTH,VA23704     		NONE PC GENERAL SUPPORT 25,000
    EQUI-KIDS THERAPEUTIC RIDING PROGRAM
    2626 HERITAGE PARK DRIVE
    VIRGINIA BEACH,VA23456     		NONE PC GENERAL SUPPORT 30,000
    FORKIDS
    PO BOX 6044
    NORFOLK,VA23508     		NONE PC GENERAL SUPPORT 140,000
    FORT MONROE FOUNDATION
    20 INGALLS ROAD
    FORT MONROE,VA23651     		NONE PC GENERAL SUPPORT 100,000
    GOODWILL FOR CENTRAL AND COASTAL VIRGINIA INC
    6301 MIDLOTHIAN TURNPIKE
    RICHMOND,VA23225     		NONE PC GENERAL SUPPORT 50,000
    GOVERNOR'S MAGNET SCHOOL FOR THE ARTS FOUNDATION
    OLD DOMINION UNIVERSITY
    NORFOLK,VA23529     		NONE PC GENERAL SUPPORT 25,000
    GREAT BRIDGE HIGH SCHOOL
    301 HANUBRY ROAD WEST
    CHESAPEAKE,VA23322     		NONE PC GENERAL SUPPORT 10,000
    HAMPTON ROADS WORKFORCE DEVELOPMENT CORPORATION
    500 EAST PLUME STREET SUITE 700
    NORFOLK,VA235102311     		NONE PC GENERAL SUPPORT 6,000
    HAMPTON UNIVERSITY
    HAMPTON UNIVERSITY
    HAMPTON,VA23668     		NONE PC GENERAL SUPPORT 25,000
    HELP AND EMERGENCY RESPONSE INC
    PO BOX 2187
    PORTSMOUTH,VA23702     		NONE PC GENERAL SUPPORT 10,000
    HISTORIC ST LUKE'S RESTORATION
    PO BOX 947
    SMITHFIELD,VA23431     		NONE PC GENERAL SUPPORT 50,000
    JAMES MADISON UNIVERSITY
    1031 SOUTH MAIN STREET MSC 5705
    HARRISONBURG,VA22807     		NONE PC GENERAL SUPPORT 7,500
    JAMESTOWN REDISCOVERY FOUNDATION
    204 WEST FRANKLIN STREET
    RICHMOND,VA23220     		NONE PC GENERAL SUPPORT 25,000
    JAMESTOWN-YORKTOWN FOUNDATION INC
    PO BOX 1607
    WILLIAMSBURG,VA23187     		NONE PC GENERAL SUPPORT 50,000
    JUNIOR ACHIEVEMENT OF CENTRAL CAROLINAS
    201 S TRYON STREET SUITE LL 100
    CHARLOTTE,NC28202     		NONE PC GENERAL SUPPORT 114,286
    NANSEMOND RIVER PRESERVATION ALLIANCE
    PO BOX 6151
    SUFFOLK,VA23434     		NONE PC GENERAL SUPPORT 15,000
    NANSEMOND SUFFOLK ACADEMY ASSOCIATION INC
    3373 PRUDEN BOULEVARD
    SUFFOLK,VA23434     		NONE PC GENERAL SUPPORT 225,000
    NAUTICUS FOUNDATION
    ONE WATERSIDE DRIVE
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 25,000
    NEWPORT NEWS POLICE DEPARTMENT FOUNDATION
    PO BOX 11092
    NEWPORT NEWS,VA23601     		NONE PC GENERAL SUPPORT 10,000
    NORFOLK COLLEGIATE SCHOOL
    7336 GRANBY STREET
    NORFOLK,VA23505     		NONE PC GENERAL SUPPORT 10,000
    OLD DOMINION UNIVERSITY ATHLETIC FOUNDATION
    4417 MONARCH WAY
    NORFOLK,VA23529     		NONE PC GENERAL SUPPORT 40,000
    OLD DOMINION UNIVERSITY ALUMNI ASSOCIATION
    NEW ADMINISTRATION BUILDING
    NORFOLK,VA23529     		NONE PC GENERAL SUPPORT 3,000
    OPERATION SMILE INC
    3641 FACULTY BOULEVARD
    VIRGINIA BEACH,VA23453     		NONE PC GENERAL SUPPORT 40,000
    PENINSULA METROPOLITAN YMCA
    41 OLD OYSTER POINT ROAD SUITE C
    NEWPORT NEWS,VA23602     		NONE PC GENERAL SUPPORT 10,000
    RONALD MCDONALD HOUSE OF EASTERN NC AT GREENVILLE INC
    529 MOYE BOULEVARD
    GREENVILLE,NC27834     		NONE PC GENERAL SUPPORT 10,000
    SAMARITAN HOUSE INC
    2620 SOUTHERN BOULEVARD
    VIRGINIA BEACH,VA23452     		NONE PC GENERAL SUPPORT 20,000
    SAME FOUNDATION
    739 THIMBLE SHOALS BOULEVARD SUITE
    105
    NEWPORT NEWS,VA23606     		NONE PC GENERAL SUPPORT 50,000
    SENTARA HEALTHCARE
    6015 POPLAR HALL DRIVE 308
    NORFOLK,VA23502     		NONE PC GENERAL SUPPORT 20,000
    SOUTHEAST VIRGINIA COMMUNITY FOUNDATION
    1435 CROSSWAYS BOULEVARD SUITE 300
    CHESAPEAKE,VA23320     		NONE PC GENERAL SUPPORT 50,000
    STARBASE VICTORY INC
    PO BOX 906
    PORTSMOUTH,VA23705     		NONE PC GENERAL SUPPORT 7,500
    STONEBRIDGE SCHOOL
    1629A JOLLIFF ROAD
    CHESAPEAKE,VA23321     		NONE PC GENERAL SUPPORT 75,000
    ST PATRICK CATHOLIC SCHOOL
    1000 BOLLING AVENUE
    NORFOLK,VA23508     		NONE PC GENERAL SUPPORT 50,000
    SUFFOLK CENTER FOR THE CULTURAL ARTS
    PO BOX 147
    SUFFOLK,VA23439     		NONE PC GENERAL SUPPORT 30,000
    SUFFOLK FOUNDATION
    106 WEST FINNEY AVENUE
    SUFFOLK,VA23434     		NONE PC GENERAL SUPPORT 8,333
    TEMPLE UNIVERSITY
    1803 N BROAD STREET 1108 WACHMAN
    HALL
    PHILADELPHIA,PA19122     		NONE PC GENERAL SUPPORT 2,500
    THE FRIENDS OF THE ELIZABETH RIVER TRAIL FOUNDATION
    628 WICKWOOD DRIVE
    CHESAPEAKE,VA23322     		NONE PC GENERAL SUPPORT 50,000
    THE HONOR FOUNDATION
    10155 ROSELLE STREET SUITE 120
    SAN DIEGO,CA92121     		NONE PC GENERAL SUPPORT 50,000
    THE HURRAH PLAYERS
    485 ST PAULS BOULEVARD
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 10,000
    THE VIRGINIA GENTLEMEN FOUNDATION
    2420 ATLANTIC AVENUE
    VIRGINIA BEACH,VA23451     		NONE PC GENERAL SUPPORT 58,670
    THE WILLIAMS SCHOOL
    419 COLONIAL AVENUE
    NORFOLK,VA23507     		NONE PC GENERAL SUPPORT 80,000
    THE SALVATION ARMY HAMPTON ROADS AREA COMMAND
    PO BOX 388
    NORFOLK,VA23501     		NONE PC GENERAL SUPPORT 20,000
    TIDEWATER WINDS
    PO BOX 62000
    VIRGINIA BEACH,VA23466     		NONE PC GENERAL SUPPORT 12,000
    UDT - SEAL MUSEUM ASSOCIATION INC
    3300 N HIGHWAY A1A
    FORT PIERCE,FL34949     		NONE PC GENERAL SUPPORT 12,500
    UNION MISSION MINISTRIES
    PO BOX 3203
    NORFOLK,VA23514     		NONE PC GENERAL SUPPORT 20,000
    UNIVERSITY OF MARY WASHINGTON
    1301 COLLEGE AVENUE
    FREDERICKSBURG,VA22401     		NONE PC GENERAL SUPPORT 2,500
    UNIVERSITY OF VIRGINIA
    1001 NORTH EMMET STREET
    CHARLOTTESVILLE,VA22903     		NONE PC GENERAL SUPPORT 7,500
    VIDANT HEALTH FOUNDATION
    PO BOX 8489
    GREENVILLE,NC27835     		NONE PC GENERAL SUPPORT 10,000
    VIRGINIA AIR & SPACE CENTER
    606 SETTLERS LANDING ROAD
    HAMPTON,VA23669     		NONE PC GENERAL SUPPORT 20,000
    VIRGINIA AQUARIUM & MARINE SCIENCE CENTER
    717 GENERAL BOOTH BOULEVARD
    VIRGINIA BEACH,VA23451     		NONE PC GENERAL SUPPORT 100,000
    VIRGINIA ARTS FESTIVAL INC
    440 BANK STREET
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 100,000
    VIRGINIA BEACH CASA PROGRAM INC
    2425 NIMMO PARKWAY
    VIRGINIA BEACH,VA23456     		NONE PC GENERAL SUPPORT 20,000
    VIRGINIA BEACH LIBRARY FOUNDATION
    2416 COURTHOUSE DRIVE MUNICIPAL
    CENTER
    VIRGINIA BEACH,VA23456     		NONE PC GENERAL SUPPORT 5,000
    VIRGINIA CAPITOL FOUNDATION
    PO BOX 396
    RICHMOND,VA23218     		NONE PC GENERAL SUPPORT 125,000
    VIRGINIA HISTORICAL SOCIETY
    PO BOX 7311
    RICHMOND,VA23221     		NONE PC GENERAL SUPPORT 56,250
    VIRGINIA LIVING MUSEUM
    524 J CLYDE MORRIS BOULEVARD
    NEWPORT NEWS,VA23601     		NONE PC GENERAL SUPPORT 30,000
    VIRGINIA MUSEUM OF CONTEMPORARY ART
    2200 PARKS AVENUE
    VIRGINIA BEACH,VA23451     		NONE PC GENERAL SUPPORT 50,000
    VIRGINIA STAGE COMPANY
    PO BOX 3770
    NORFOLK,VA23514     		NONE PC GENERAL SUPPORT 40,000
    VIRGINIA STATE UNIVERSITY FOUNDATION
    PO BOX 9027
    PETERSBURG,VA23803     		NONE PC GENERAL SUPPORT 20,000
    VIRGINIA ZOOLOGICAL SOCIETY
    3500 GRANBY STREET
    NORFOLK,VA23404     		NONE PC GENERAL SUPPORT 20,000
    WESTERN TIDEWATER FREE CLINIC INC
    2019 MEADE PARKWAY
    SUFFOLK,VA23434     		NONE PC GENERAL SUPPORT 5,000
    WHRO
    5200 HAMPTON BOULEVARD
    NORFOLK,VA23508     		NONE PC GENERAL SUPPORT 50,000
    WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
    PO BOX 8795
    WILLIAMSBURG,VA23187     		NONE PC GENERAL SUPPORT 5,000
    WILLIAM & MARY MARSHALL-WYTHE SCHOOL OF LAW
    PO BOX 3527
    WILLIAMSBURG,VA23187     		NONE PC GENERAL SUPPORT 5,000
    YMCA OF GREATER RICHMOND
    2 W FRANKLIN STREET
    RICHMOND,VA23220     		NONE PC GENERAL SUPPORT 100,000
    YMCA OF SOUTH HAMPTON ROADS
    250 W BRAMBLETON AVENUE SUITE 100
    NORFOLK,VA23510     		NONE PC GENERAL SUPPORT 40,000
    Total .................................bullet 3a 3,203,539
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 34,940  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 70,006  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    14 23,593  
    9 Net income or (loss) from special events:         482,749
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 128,539 482,749
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    611,288
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    9 THE FOUNDATION CARRIES ON TWO FUNDRAISERS EVERY YEAR TO RAISE MONEY FOR SCHOLARSHIPS. THERE IS A GOLF TOURNAMENT AND FALL EXTRAVAGANZA.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    TOWNEBANK FOUNDATION
     
    Employer identification number

    54-2036534
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    TOWNEBANK
     
    6001 HARBOUR VIEW BLVD
     
    SUFFOLK, VA23435

    		$ 2,707,710


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    BON SECOURS VA HEALTH SYSTEM
     
    110 KINGSLEY LANE SUITE 511
     
    NORFOLK, VA23505

    		$ 17,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    SYSCO HAMPTON ROADS
     
    7000 HARBOUR VIEW BLVD
     
    SUFFOLK, VA23435

    		$ 15,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    JOHNS BROTHERS SECURITY (DWIGHT SCHAUBACH)
     
    2224 SPRINGFIELD AVE
     
    NORFOLK, VA23523

    		$ 15,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    GOLD KEYPHR
     
    300 32ND ST 500
     
    VIRGINIA BEACH, VA23451

    		$ 12,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    BOWDITCH AUTOMOTIVE
     
    11291 JEFFERSON AVE
     
    NEWPORT NEWS, VA23601

    		$ 12,500


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
    LANDMARK HOTEL GROUP LLC
     
    249 CENTRAL PARK AVENUE
     
    VIRGINIA BEACH, VA23462

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
    FIRST DATA COMMUNITY FINANCIAL INSTITUTIONS
     
    3715 NORTHSIDE PARKWAY NW BLDG 400
     
    ATLANTA, GA30327

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    9
    PC&A BUSINESS ENVIRONMENTS
     
    7420 CENTRAL BUSINESS PARK DR SUITE
     
    NORFOLK, VA23513

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    10
    WM JORDAN
     
    11010 JEFFERSON AVE
     
    NEWPORT NEWS, VA23601

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    11
    SL NUSBAUM
     
    PO BOX 2491
     
    NORFOLK, VA23501

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    12
    WILLIAMS MULLEN
     
    999 WATERSIDE DRIVE SUITE 1700
     
    NORFOLK, VA23510

    		$ 7,500


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    13
    SUSSEX DEVELOPMENT CORPORATION
     
    109 S LYNNHAVEN ROAD
     
    VIRGINIA BEACH, VA23452

    		$ 7,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    14
    NATIONWIDE INSURANCE
     
    100 YARD STREET
     
    GRANDVIEW HEIGHTS, OH43212

    		$ 7,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    15
    SEVENTH POINT
     
    4752 EUCLID ROAD
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    16
    FRANKLIN JOHNSTON GROUP
     
    300 32ND STREET SUITE 310
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    17
    VALKYRIE
     
    4460 CORPORATION LANE SUITE 130
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    18
    CIRCLE S STUDIO
     
    201 WEST 7TH STREET
     
    RICHMOND, VA23224

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    19
    SASSER CONSTRUCTION EAST WEST COMMUNITIES
     
    3200 TYRE NECK RD SUITE 203
     
    PORTSMOUTH, VA23703

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    20
    SPECIAL EVENTS ENTERTAINMENT INC
     
    2211 ELLIOTT AVENUE
     
    PORTSMOUTH, VA23702

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    21
    SELECTIVE INSURANCE CO
     
    3426 TORINGDON WAY SUITE 200
     
    CHARLOTTE, NC28277

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    22
    VIRGINIA GENTLEMEN FOUNDATION
     
    2420 ATLANTIC AVE SUITE 201
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    23
    WATERMAN'S
     
    415 ATLANTIC AVE
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    24
    HBA ARCHITECTURE AND INTERIOR DESIGN
     
    ONE COLUMBUS CENTER SUITE 1000
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    25
    KAUFMAN & CANOLES
     
    PO BOX 3037
     
    NORFOLK, VA23510

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    26
    ALL RISKS LTD
     
    300 ARBORETUM PLACE SUITE 170
     
    RICHMOND, VA23236

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    27
    ANE INVESTMENTS LLC
     
    545 DARE DRIVE
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    28
    CHARLES BARKER CHAMPIONS FOR CHARITY
     
    4949 VIRGINIA BEACH BLVD
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    29
    COASTAL HOSPITALITY ASSOCIATES LLC
     
    3612 ATLANTIC AVENUE
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    30
    GEO DEVELOPMENT CORPORATION
     
    2268 HAVERSHAM CLOSE
     
    VIRGINIA BEACH, VA23454

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    31
    LUMOS NETWORKS
     
    4050 INNFLAKE DRIVE SUITE 350
     
    RICHMOND, VA23060

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    32
    MANCON
     
    1961 DIAMOND SPRINGS RD
     
    VIRGINIA BEACH, VA23455

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    33
    MCGUIRE WOODS
     
    800 EAST CANAL STREET GATEWAY PLAZA
     
    RICHMOND, VA23219

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    34
    MINI-PRICE STORAGE
     
    2900 SABRE STREET SUITE 75
     
    VIRGINIA BEACH, VA23452

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    35
    POE ENTERPRISES
     
    899 NORFOLK SQUARE
     
    NORFOLK, VA23502

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    36
    REGENT UNIVERSITY
     
    1000 REGENT UNIVERSITY DRIVE
     
    VIRGINIA BEACH, VA23464

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    37
    RESOURCE BUILDING CORPORATION
     
    1771 PRINCESS ANNE RD
     
    VIRGINIA BEACH, VA23456

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    38
    SANDLER O'NEILL PARTNERS LP
     
    1251 AVENUE OF THE AMERICAS 6TH FLO
     
    NEW YORK, NY10020

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    39
    THE BREEDEN COMPANY
     
    560 LYNNHAVEN PARKWAY
     
    VIRGINIA BEACH, VA23452

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    40
    THERMO-TROL SYSTEMS INC
     
    569 CENTRAL DRIVE
     
    VIRGINIA BEACH, VA23454

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    41
    MARLYN DEVELOPMENT
     
    308 35TH STREET SUITE 101
     
    VIRGINIA BEACH, VA23451

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    42
    WOLCOTT RIVERS GATES
     
    200 BENDIX ROAD SUITE 300
     
    VIRGINIA BEACH, VA23452

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    43
    TROUTMAN SANDERS
     
    222 CENTRAL PARK AVE SUITE 2000
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    44
    COVINGTON CONTRACTING INC
     
    152 NEWTOWN ROAD SUITE 120
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    45
    DOMINION ENERGY CHARITABLE FOUNDATION
     
    701 CARY STREET 20TH FLOOR
     
    RICHMOND, VA23219

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    46
    PRESIDIO
     
    8161 MAPLE LAWN BLVD SUITE 150
     
    FULTON, MD20759

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    47
    STUDIO CENTER
     
    161 BUSINESS PARK DR
     
    VIRGINIA BEACH, VA23462

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    48
    HOWARD HANNA - WILLIAM E EOOD
     
    3237 WESTERN BRANCH BLVD
     
    CHESAPEAKE, VA23321

    		$ 15,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    49
    FIRST TEAM TOYOTA
     
    3400 WESTERN BRANCH BLVD
     
    CHESAPEAKE, VA23321

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    50
    COX COMMUNICATIONS
     
    1341 CROSSWAYS BLVD
     
    CHESAPEAKE, VA23320

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    51
    DIXON HUGHES GOODMAN
     
    4350 CONGRESS STREET SUITE 900
     
    CHARLOTTE, NC28209

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    52
    ELECTRONIC SYSTEMS INC
     
    369 EDWIN DRIVE
     
    VIRGINIA BEACH, VA23462

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    53
    FIS GLOBAL
     
    2001 SUMMIT PARK DRUVE
     
    ORLANDO, FL32810

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    54
    KPMG
     
    440 MONTICELLO AVENUE SUJITE 1900
     
    NORFOLK, VA23510

    		$ 6,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number
    54-2036534
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    55
    PRESIDIO
     
    1008 NORTH SHEPPARD STREET
     
    RICHMOND, VA23230

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    56
    SUSSEX
     
    109 S LYNNHAVEN ROAD SUITE 200
     
    VIRGINIA BEACH, VA23452

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    57
    WM JORDAN
     
    11010 JEFFERSON AVENUE
     
    NEWPORT NEWS, VA23601

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    58
    HBA ARCHITECTURE INTERIOR DESIGN
     
    ONE COLUMBUS CENTER SUITE 1000
     
    VIRGINIA BEACH, VA23462

    		$ 6,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    59
    CAMPOSTELLA BUILDERS
     
    1109 POPPLETON STREET
     
    NORFOLK, VA23523

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number

    54-2036534
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    TOWNEBANK FOUNDATION
          		Employer identification number

    54-2036534
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Name of Bond End of Year Book Value End of Year Fair Market Value
    MUTUAL BONDS 199,800 183,525

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Name of Stock End of Year Book Value End of Year Fair Market Value
    MUTUAL FUNDS 1,399,807 1,304,091

    TY 2018 OtherDecreasesSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Description Amount
    PRIOR PERIOD ADJUSTMENT 140,213


    TY 2018 OtherExpensesSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FUNDRAISING EXPENSES 219,117 0 0 219,117


    TY 2018 OtherIncomeSchedule2
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NON-DIVIDEND DISTRIBUTIONS 70,006 70,006  
    GROSS INCOME FROM SPECIAL FUNDRAISING EVENTS 482,749   482,749


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 370 0 0 370


    TY 2018 SubstantialContributorsSch
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Name Address
    TOWNEBANK 6001 HARBOUR VIEW BLVD
    SUFFOLK,VA23435


    TY 2018 TaxesSchedule
    Name:
    TOWNEBANK FOUNDATION
    EIN:
    54-2036534
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 2,291 0 0 0