Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
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 right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$25,952,231J Accounting method:
 
(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) 5,925,402
2 Check right arrow.............
3 Interest on savings and temporary cash investments 56,543 56,543 56,543
4 Dividends and interest from securities... 530,770 530,770 530,770
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 892,925
b Gross sales price for all assets on line 6a 2,718,779
7 Capital gain net income (from Part IV, line 2)... 892,925
8 Net short-term capital gain......... 194
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
List of Attached Documents:
// Content
647,608   647,608
12 Total. Add lines 1 through 11........ 8,053,248 1,480,238 1,235,115
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 25,000      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,480      
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
64,642 64,642 64,642  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
16,993 1,993 1,993  
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
List of Attached Documents:
// Content
512,976   511,641  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 624,091 66,635 578,276 0
25 Contributions, gifts, grants paid....... 7,418,106 7,418,106
26 Total expenses and disbursements. Add lines 24 and 25 8,042,197 66,635 578,276 7,418,106
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 11,051
b Net investment income (if negative, enter -0-) 1,413,603
c Adjusted net income (if negative, enter -0-)... 656,839
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 6,870,878 1,702,222 1,702,222
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
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)....... 10,193,662 Click to see attachment
List of Attached Documents:
// Content
15,373,369 		24,250,009
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 17,064,540 17,075,591 25,952,231
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
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 right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 17,064,540 17,075,591
29 Total net assets or fund balances (see instructions)..... 17,064,540 17,075,591
30 Total liabilities and net assets/fund balances (see instructions). 17,064,540 17,075,591
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
17,064,540
2
Enter amount from Part I, line 27a .....................
2
11,051
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
17,075,591
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
17,075,591
Form 990-PF (2023)
Form 990-PF (2023)
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 RAYMOND JAMES LT P 2022-01-01 2023-12-31
b RAYMOND JAMES LT P 2022-01-01 2023-12-31
c RAYMOND JAMES LT P 2022-01-01 2023-12-31
d RAYMOND JAMES ST P 2023-01-01 2023-12-31
e RAYMOND JAMES LT P 2022-01-01 2023-12-31
RAYMOND JAMES LT P 2022-01-01 2023-12-31
(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 2,170   5,778 -3,608
b 92,155   214,266 -122,111
c 11,417   30,031 -18,614
d 123,607   123,413 194
e 1,943,437   1,345,223 598,214
425,641   107,143 318,498
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       -3,608
b       -122,111
c       -18,614
d       194
e       598,214
      318,498
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 2 892,925
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 3 194
Part V
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 right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 19,649
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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  
3 Add lines 1 and 2........................... 3 19,649
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 19,649
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 9,046
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 25,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 34,046
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 14,397
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow14,397 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-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 the instructions
for the 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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet 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
Yes
 
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 XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowVA
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
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 addressright arrowN/A
14
The books are in care ofright arrowROBYN S LEAVY Telephone no.right arrow (757) 673-1783

Located atright arrow6001 HARBOUR VIEW BLVDSUFFOLKVA ZIP+4right arrow23435
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-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? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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)? ......................
1a(5)
 
No
(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.) ...............
1a(6)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
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 2023? .............
1d
 
 
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-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))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
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
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
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? .................
5d
 
 
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? .............................
6a
 
No
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?
7a
 
No
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? .........................
8
 
No
Part VII
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
2.00 		0 0 0
6001 HARBOUR VIEW BLVD
SUFFOLK,VA23435
J MORGAN DAVIS VP & DIRECTO
2.00 		0 0 0
6001 HARBOUR VIEW BLVD
SUFFOLK,VA23435
WILLIAM T HODSDEN SECRETARY &
2.00 		0 0 0
6001 HARBOUR VIEW BLVD
SUFFOLK,VA23435
R SCOTT MORGAN TREASURER &
2.00 		0 0 0
6001 HARBOUR VIEW BLVD
SUFFOLK,VA23435
ROBYN S LEAVY EXECUTIVE DI
8.00 		25,000 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...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
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.............right arrow  
Part VIII-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 VIII-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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
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
21,088,038
b
Average of monthly cash balances.......................
1b
3,519,671
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
24,607,709
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
24,607,709
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
369,116
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
24,238,593
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,211,930
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,211,930
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
19,649
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
19,649
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,192,281
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
1,192,281
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,192,281
Part XI
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
7,418,106
b
Program-related investments—total from Part VIII-B..................
1b
 
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 XII, line 4. .......
4
7,418,106
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,192,281
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 3,264,913
b From 2019...... 3,925,712
c From 2020...... 4,073,288
d From 2021...... 5,007,539
e From 2022...... 5,606,159
f Total of lines 3a through e ........ 21,877,611
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 7,418,106
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 1,192,281
e Remaining amount distributed out of corpus 6,225,825
5 Excess distributions carryover applied to 2023.    
(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 28,103,436
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		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) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		3,264,913
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		24,838,523
10 Analysis of line 9:
a Excess from 2019.... 3,925,712
b Excess from 2020.... 4,073,288
c Excess from 2021.... 5,007,539
d Excess from 2022.... 5,606,159
e Excess from 2023.... 6,225,825
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
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 IX, 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 XIV
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 right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
TOWNEBANK ATTN ROBYN LEAVY
6001 HARBOUR VIEW BLVD
SUFFOLK,VA23435
(757) 673-1783
ROBYN.LEAVY@TOWNEBANK.NET
bThe form in which applications should be submitted and information and materials they should include:
SCHOLARSHIPS: SCHOLARSHIP APPLICATION FORM, BRIEF ESSAY, TRANSCRIPTS, SAT/ACT SCORES GENERAL GRANTS: GRANT REQUEST FORM
cAny submission deadlines:
SCHOLARSHIPS: APPLICATION AND ESSAY MUST BE SUBMITTED BY FEBRUARY 15 OF EACH YEAR. GENERAL GRANTS: G
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
SCHOLARSHIPS: 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. GENERAL GRANTS: THE FOUNDATION TYPICALLY PREFERS TO MAKE GRANTS TO APPLICANTS WITHIN THE BANK'S SERVICE AREA AND PRIMARILY FOR CAPITAL PURPOSES. THE NON-PROFITS MUST BE CLASSIFIED AS A 501(C)3 WITHIN IRS RULES AND REGULATIONS.
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
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

ACES FOR AUTISM

PO BOX 3986
GREENVILLE,NC27858 		N/A PC GEN. CHARITABLE 40,000

ALL DISTRICT READS

PO BOX 3723
NORFOLK,VA23514 		N/A PC GEN. CHARITABLE 20,000

ANNA JULIA COOPER EPISCOPAL SCHOOL

2124 N 29TH STREET
RICHMOND,VA23223 		N/A PC GEN. CHARITABLE 10,000

APPALACHIAN STATE UNIVERSITY FOUNDA

BOX 32064 MCKINNEY ALUMNI
BOONE,NC28608 		N/A PC GEN. CHARITABLE 100,000

ART FOR THE JOURNEY

825 GROVE ROAD
MIDLOTHIAN,VA23114 		N/A PC GEN. CHARITABLE 40,000

ATLANTIC SHORES CHRISTIAN SCHOOL

1217 N CENTERVILLE TURNPI
CHESAPEAKE,VA23320 		N/A PC GEN. CHARITABLE 10,000

ATRIUM HEALTH FOUNDATION

208 EAST BOULEVARD
CHARLOTTE,NC28203 		N/A PC GEN. CHARITABLE 100,000

AUBURN UNIVERSITY

OFFICE OF UNIVERSITY SCHO
AUBURN,AL36849 		N/A PC GEN. CHARITABLE 2,500

BETH SHOLOM HOME OF EASTERN VIRGINI

6401 AUBURN DRIVE
VIRGINIA BEACH,VA23464 		N/A PC GEN. CHARITABLE 30,000

BETTER HOUSING COALITION

PO BOX 12117
RICHMOND,VA23241 		N/A PC GEN. CHARITABLE 20,000

BIKES FOR KIDS FOUNDATION

7900 MCCLOUD ROAD SUITE 1
GREENSBORO,NC27409 		N/A PC GEN. CHARITABLE 25,000

BLUE GRASS RESOURCE CENTER

PO BOX 113
BLUE GRASS,VA24413 		N/A PC GEN. CHARITABLE 100

BON SECOURS HAMPTON ROADS FOUNDATIO

7025 HARBOUR VIEW BOULEVA
SUFFOLK,VA23435 		N/A PC GEN. CHARITABLE 100,000

BOYS & GIRLS CLUBS OF METRO RICHMON

100 EVERETT STREET 1
RICHMOND,VA23224 		N/A PC GEN. CHARITABLE 25,000

BOYS & GIRLS CLUBS OF SOUTHEAST VIR

1300 DIAMOND SPRINGS ROAD
VIRGINIA BEACH,VA23455 		N/A PC GEN. CHARITABLE 75,000

BOYS & GIRLS CLUBS OF THE COASTAL P

621 W FIRE TOWER ROAD
WINTERVILLE,NC28590 		N/A PC GEN. CHARITABLE 50,000

BOYS & GIRLS CLUBS OF THE VIRGINIA

11825 ROCK LANDING DRIVEC
NEWPORT NEWS,VA23606 		N/A PC GEN. CHARITABLE 70,000

CATHOLIC HIGH SCHOOL

4552 PRINCESS ANNE ROAD
VIRGINIA BEACH,VA23462 		N/A PC GEN. CHARITABLE 50,000

CENTRAL PIEDMONT COMMUNITY COLLEGE

PO BOX 35009
CHARLOTTE,NC282355009 		N/A PC GEN. CHARITABLE 100,000

CHARLOTTE RESCUE MISSION

907 WEST 1ST STREET
CHARLOTTE,NC28202 		N/A PC GEN. CHARITABLE 20,000

CHESAPEAKE BAY ACADEMY

821 BAKER ROAD
VIRGINIA BEACH,VA23462 		N/A PC GEN. CHARITABLE 100,000

CHESAPEAKE BAY FOUNDATION INC

6 HERNDON AVENUE
ANNAPOLIS,MD21403 		N/A PC GEN. CHARITABLE 50,000

CHESAPEAKE REGIONAL HEALTH FOUNDATI

736 BATTLEFIELD BOULEVARD
CHESAPEAKE,VA23320 		N/A PC GEN. CHARITABLE 100,000

CHESTERFIELD EDUCATION FOUNDATION

13900 HULL STREET ROAD
MIDLOTHIAN,VA23112 		N/A PC GEN. CHARITABLE 50

CHILDREN'S HOSPITAL FOUNDATION

BOX 980693
RICHMOND,VA23298 		N/A PC GEN. CHARITABLE 50,000

CHILDREN'S HOSPITAL OF THE KING'S D

601 CHILDRENS LANE
NORFOLK,VA23507 		N/A PC GEN. CHARITABLE 100,000

CHIP OF SOUTH HAMPTON ROADS

1302 JEFFERSON STREET
CHESAPEAKE,VA23324 		N/A PC GEN. CHARITABLE 50,000

CHRISTOPHER NEWPORT UNIVERSITY

1 AVENUE OF ARTS
NEWPORT NEWS,VA23606 		N/A PC GEN. CHARITABLE 2,500

CHRISTOPHER NEWPORT UNIVERSITY EDUC

1 AVENUE OF THE ARTS
NEWPORT NEWS,VA23606 		N/A PC GEN. CHARITABLE 200,000

CHRYSLER MUSEUM OF ART

ONE MEMORIAL PLACE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 100,000

COLLEGE OF WILLIAM AND MARY

PO BOX 8795
WILLIAMSBURG,VA231878795 		N/A PC GEN. CHARITABLE 2,500

COLLEGIATE SCHOOL

103 N MOORELAND ROAD
RICHMOND,VA23229 		N/A PC GEN. CHARITABLE 3,000

COMFORT ZONE CAMP INC

6606 W BROAD STREET 401
RICHMOND,VA23230 		N/A PC GEN. CHARITABLE 1,700

CROSSOVER HEALTHCARE MINISTRY

8600 QUIOCCASIN ROAD SUIT
RICHMOND,VA23229 		N/A PC GEN. CHARITABLE 60,000

D'ART CENTER

740 BOUSH STREET
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 75,000

DAVIDSON COLLEGE

PO BOX 5000
DAVIDSON,NC28035 		N/A PC GEN. CHARITABLE 2,500

DOROTHEA DIX PARK CONSERVANCY

PO BOX 28575
RALEIGH,NC27611 		N/A PC GEN. CHARITABLE 100,000

EAST CAROLINA UNIVERSITY

G120 OLD CAFETERIA COMPLE
GREENVILLE,NC278584353 		N/A PC GEN. CHARITABLE 2,500

EASTERN VIRGINIA MEDICAL SCHOOL FOU

PO BOX 5
NORFOLK,VA235010005 		N/A PC GEN. CHARITABLE 200,000

EDMARC HOSPICE FOR CHILDREN

516 LONDON STREET
PORTSMOUTH,VA23704 		N/A PC GEN. CHARITABLE 50,000

EGGLESTON

5145 E VIRGINIA BEACH BO
NORFOLK,VA23502 		N/A PC GEN. CHARITABLE 100,000

ELEVATE EARLY EDUCATION INC

PO BOX 3904
VIRGINIA BEACH,VA23454 		N/A PC GEN. CHARITABLE 50,000

ELIZABETH RIVER PROJECT

5205 COLLEY AVENUE
NORFOLK,VA23508 		N/A PC GEN. CHARITABLE 100,000

ENON ELEMENTARY PTO

2001 E HUNDRED ROAD
CHESTER,VA238363503 		N/A PC GEN. CHARITABLE 7,000

ESSEX MUSEUM & HISTORICAL SOCIETY

218 WATER LANE
TAPPAHANOCK,VA22560 		N/A PC GEN. CHARITABLE 250

FAMILIES OF AUTISTIC CHILDREN OF TI

3509 VIRGINIA BEACH BOULE
VIRGINIA BEACH,VA23452 		N/A PC GEN. CHARITABLE 45,000

FEED MORE INC

1415 RHOADMILLER STREET
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 20,200

FOODBANK OF SOUTHEASTERN VIRGINIA A

800 TIDEWATER DRIVE
NORFOLK,VA23504 		N/A PC GEN. CHARITABLE 50,000

GARFIELD'S RESCUE INC

PO BOX 257
KILMARNOCK,VA22482 		N/A PC GEN. CHARITABLE 500

GEORGE MASON UNIVERSITY

OFFICE OF STUDENT FINANCI
FAIRFAX,VA220304444 		N/A PC GEN. CHARITABLE 5,000

GLOBAL ACTION PLATFORM

2341 VALLEY BROOK ROAD
NASHVILLE,TN37215 		N/A PC GEN. CHARITABLE 100,000

GOUCHER COLLEGE

OFFICE OF STUDENT FINANCI
BALTIMORE,MD21204 		N/A PC GEN. CHARITABLE 2,500

GREENVILLE-ENC ALLIANCE

PO BOX 1714
GREENVILLE,NC278351714 		N/A PC GEN. CHARITABLE 100,000

GSCCC

912 CEDAR ROAD
CHESAPEAKE,VA23322 		N/A PC GEN. CHARITABLE 80,000

HABITAT FOR HUMANITY OF SOUTH HAMPT

900 TIDEWATER DRIVE
NORFOLK,VA23504 		N/A PC GEN. CHARITABLE 100,000

HAMPDEN-SYDNEY COLLEGE

PO BOX 637
HAMPDENSYDNEY,VA23943 		N/A PC GEN. CHARITABLE 75,000

HAMPTON ROADS ACADEMY

739 ACADEMY LANE
NEWPORT NEWS,VA23602 		N/A PC GEN. CHARITABLE 70,000

HAMPTON ROADS SQUADRON ASSOCIATION

PO BOX 4339
VIRGINIA BEACH,VA23454 		N/A PC GEN. CHARITABLE 10,000

HAMPTON ROADS WORKFORCE FOUNDATION

999 WATERSIDE DRIVESUITE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 20,000

HAMPTON UNIVERSITY

200 WILLIAM R HARVEY WAY
HAMPTON,VA23668 		N/A PC GEN. CHARITABLE 200,000

HANOVER ARC INC

417 ENGLAND STREET
ASHLAND,VA23005 		N/A PC GEN. CHARITABLE 200

HEART OF VIRGINIA COUNCIL BOY SCOU

PO BOX 6809
RICHMOND,VA23230 		N/A PC GEN. CHARITABLE 600

HENRICO EDUCATION FOUNDATION

PO BOX 31413
HENRICO,VA23294 		N/A PC GEN. CHARITABLE 25,000

HERMITAGE MUSEUM AND GARDENS

7637 NORTH SHORE ROAD
NORFOLK,VA23505 		N/A PC GEN. CHARITABLE 50,000

HISTORIC ST LUKE'S RESTORATION

14477 BENNS CHURCH BLVD
SMITHFIELD,VA23430 		N/A PC GEN. CHARITABLE 50,000

HOME AGAIN FOUNDATION

7427 MATTHEWS MINT HILL R
CHARLOTTE,NC28227 		N/A PC GEN. CHARITABLE 33,333

HUMANE SOCIETY OF INDIANAPOLIS

7929 N MICHIGAN ROAD
INDIANAPOLIS,IN46268 		N/A PC GEN. CHARITABLE 25

IDA BARBOUR EARLY LEARNING CENTER

1400 CAMDEN AVENUE
PORTSMOUTH,VA23704 		N/A PC GEN. CHARITABLE 16,667

ISLE OF WIGHT ACADEMY

17111 COURTHOUSE HIGHWAY
ISLE OF WIGHT,VA23397 		N/A PC GEN. CHARITABLE 65,000

IVOR VOLUNTEER RESCUE SQUAD INC

PO BOX 228
IVOR,VA23866 		N/A PC GEN. CHARITABLE 209,000

JAMES MADISON UNIVERSITY

738 S MASON STREET MSC 3
HARRISONBURG,VA22807 		N/A PC GEN. CHARITABLE 2,500

JAMES RIVER ASSOCIATION

16 SOUTH 17TH STREET SUIT
RICHMOND,VA23219 		N/A PC GEN. CHARITABLE 12,500

JUDEO-CHRISTIAN OUTREACH CENTER

762 INDEPENDENCE BOULEVAR
VIRGINIA BEACH,VA23455 		N/A PC GEN. CHARITABLE 100,000

JUNIOR ACHIEVEMENT OF CENTRAL CAROL

1701 NORTH GRAHAM STREET
CHARLOTTE,NC28206 		N/A PC GEN. CHARITABLE 114,286

JUNIOR ACHIEVEMENT OF CENTRAL VIRGI

1801 LIBBIE AVENUE UNIT 2
RICHMOND,VA23226 		N/A PC GEN. CHARITABLE 53

KIDS CONNECTION HAITI

1372 S CAROLINA AVENUE S
WASHINGTON,DC20003 		N/A PC GEN. CHARITABLE 1,030

MAKE-A-WISH FOUNDATION OF GREATER

2810 N PARHAM ROADSUITE
RICHMOND,VA23294 		N/A PC GEN. CHARITABLE 500

MEALS ON WHEELS OF VIRGINIA BEACH

745 LITTLE CREEK ROAD
VIRGINIA BEACH,VA23452 		N/A PC GEN. CHARITABLE 30,000

MEDICAL COLLEGE OF VIRGINIA FOUNDAT

1228 EAST BROAD STREET BO
RICHMOND,VA232980234 		N/A PC GEN. CHARITABLE 50,000

MERCY MEDICAL ANGELS

101 WEST MAIN STREET SUIT
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 125,000

NANSEMOND RIVER PRESERVATION ALLIAN

PO BOX 6090
SUFFOLK,VA23433 		N/A PC GEN. CHARITABLE 20,000

NANSEMOND-SUFFOLK ACADEMY

3373 PRUDEN BOULEVARD
SUFFOLK,VA23434 		N/A PC GEN. CHARITABLE 50,000

NAUTICUS FOUNDATION

ONE WATERSIDE DRIVE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 100,000

NCINNOVATION INC

PO BOX 1428865 TW ALEXA
DURHAM,NC27709 		N/A PC GEN. CHARITABLE 100,000

NC STATE UNIVERSITY

OFFICE OF SCHOLARSHIPS AN
RALEIGH,NC27695 		N/A PC GEN. CHARITABLE 2,500

NEXTUP RVA

2108 W LABURNUM AVENUE SU
RICHMOND,VA23227 		N/A PC GEN. CHARITABLE 15,000

NORFOLK BOTANICAL GARDEN

6700 AZALEA GARDEN ROAD
NORFOLK,VA23518 		N/A PC GEN. CHARITABLE 100,000

NORFOLK FESTEVENTS LTD

120 W MAIN STREET
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 100,000

NORFOLK SPCA

916 BALLENTINE BOULEVARD
NORFOLK,VA23504 		N/A PC GEN. CHARITABLE 60,000

NORTH RALEIGH MINISTRIES INC

9650 STRICKLAND ROAD SUIT
RALEIGH,NC27615 		N/A PC GEN. CHARITABLE 25,000

NOVA OF VIRGINIA AQUATICS INC

12207 GAYTON ROAD
RICHMOND,VA23238 		N/A PC GEN. CHARITABLE 10,000

OLD DOMINION UNIVERSITY

2002 ROLLINS HALL
NORFOLK,VA23529 		N/A PC GEN. CHARITABLE 5,000

OPERATION SMILE INC

3641 FACULTY BLVD
VIRGINIA BEACH,VA23453 		N/A PC GEN. CHARITABLE 50,000

OUTER BANKS DARE CHALLENGE

PO BOX 123 2263 NC HWY 34
WANCHESE,NC27981 		N/A PC GEN. CHARITABLE 50,000

PENN STATE UNIVERSITY

OFFICE OF THE BURSAR 109
UNIVERSITY PARK,PA16802 		N/A PC GEN. CHARITABLE 2,500

PGA TOUR CHARITIES INC

PO BOX 1065
PONTE VEDRA BEACH,FL32004 		N/A PC GEN. CHARITABLE 78,000

PITT COMMUNITY COLLEGE FOUNDATION

PO DRAWER 7007
GREENVILLE,NC27835 		N/A PC GEN. CHARITABLE 40,000

PITT COUNTY COUNCIL ON AGING

4551 COUNTY HOME ROAD
GREENVILLE,NC27858 		N/A PC GEN. CHARITABLE 10,000

PORTSMOUTH CHRISTIAN SCHOOLS

3214 ELLIOTT AVENUE
PORTSMOUTH,VA23702 		N/A PC GEN. CHARITABLE 75,000

PRESERVATION VIRGINIA

204 WEST FRANKLIN STREET
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 20,000

RALEIGH POLICE DEPARTMENT FOUNDATIO

PO BOX 18283
RALEIGH,NC27619 		N/A PC GEN. CHARITABLE 50,000

RANDOLPH-MACON COLLEGE

PO BOX 5005
ASHLAND,VA23005 		N/A PC GEN. CHARITABLE 5,000

RICHMOND BALLET

407 EAST CANAL STREET
RICHMOND,VA23219 		N/A PC GEN. CHARITABLE 57,000

RICHMOND SPCA

2519 HERMITAGE ROAD
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 250

SAFECHILD

864 WEST MORGAN STREET
RALEIGH,NC27603 		N/A PC GEN. CHARITABLE 50,000

SAMARITAN HOUSE INC

2620 SOUTHERN BOULEVARD
VIRGINIA BEACH,VA23452 		N/A PC GEN. CHARITABLE 80,000

SCIENCE MUSEUM OF VIRGINIA FOUNDATI

PO BOX 11624
RICHMOND,VA23230 		N/A PC GEN. CHARITABLE 25,000

SENTARA FOUNDATION

1300 SENTARA PARK 1ST FLO
VIRGINIA BEACH,VA23464 		N/A PC GEN. CHARITABLE 50,000

SMITH POINT SEA RESCUE INC

PO BOX 662
BURGESS,VA22432 		N/A PC GEN. CHARITABLE 150

SOUTHAMPTON COUNTY HISTORICAL SOCIE

PO BOX 112
COURTLAND,VA23837 		N/A PC GEN. CHARITABLE 100,000

SOUTHEAST VIRGINIA COMMUNITY FOUNDA

1435 CROSSWAYS BLVD SUITE
CHESAPEAKE,VA23320 		N/A PC GEN. CHARITABLE 25,000

SPECIAL OLYMPICS VIRGINIA INC

3212 SKIPWIRTH ROAD SUITE
HENRICO,VA23294 		N/A PC GEN. CHARITABLE 103

SPORTABLE

1365 OVERBROOK ROAD SUITE
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 20,000

STARBASE VICTORY INC

POBOX 906
PORTSMOUTH,VA23705 		N/A PC GEN. CHARITABLE 10,000

ST JAMES CHILDREN'S CENTER

1205 W FRANKLIN STREET
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 250

STONEBRIDGE SCHOOL

1629 JOLLIFF ROAD
CHESAPEAKE,VA23321 		N/A PC GEN. CHARITABLE 70,000

SUB CULTURE INCORPORATED

8005-C CREIGHTON PARKWAY
MECHANICSVILLE,VA23111 		N/A PC GEN. CHARITABLE 20,000

SUFFOLK CENTER FOR CULTURAL ARTS FO

110 W FINNEY AVENUE
SUFFOLK,VA23434 		N/A PC GEN. CHARITABLE 100,000

SULLENBERGER AVIATION MUSEUM

1026 JAY STREET SUITE B
CHARLOTTE,NC28208 		N/A PC GEN. CHARITABLE 100,000

TAMMY LYNN CENTER

739 CHAPPELL DRIVE
RALEIGH,NC27606 		N/A PC GEN. CHARITABLE 50,000

THE BASILICA OF SAINT MARY OF THE I

232 CHAPEL STREET
NORFOLK,VA23504 		N/A PC GEN. CHARITABLE 50,000

THE DOORWAYS

612 EAST MARSHALL STREET
RICHMOND,VA23219 		N/A PC GEN. CHARITABLE 12,500

THE FIRST TEE OF THE TRIANGLE

PO BOX 91447
RALEIGH,NC27675 		N/A PC GEN. CHARITABLE 100,000

THE HURRAH PLAYERS INC

485 ST PAULS BLVD
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 50,000

THE OUTER BANKS HOSPITAL

4800 S CROATAN HWY
NAGS HEAD,NC27959 		N/A PC GEN. CHARITABLE 100,000

THE PAULA TAKACS FOUNDATION FOR SAR

PO BOX 78416
CHARLOTTE,NC28271 		N/A PC GEN. CHARITABLE 25,000

THE SALVATION ARMY GREENVILLE NORT

PO BOX 30280
GREENVILLE,NC27833 		N/A PC GEN. CHARITABLE 60,000

THE SALVATION ARMY HRAC

PO BOX 388
NORFOLK,VA23501 		N/A PC GEN. CHARITABLE 20,000

THE STEWARD SCHOOL

11600 GAYTON ROAD
RICHMOND,VA23238 		N/A PC GEN. CHARITABLE 50

THE UNION MISSION MINISTRIES

5100 E VIRGINIA BEACH BL
NORFOLK,VA23502 		N/A PC GEN. CHARITABLE 20,000

THE UNIVERSITY OF MISSISSIPPI

PO BOX 1848 202 MARTIND
UNIVERSITY,MS386771848 		N/A PC GEN. CHARITABLE 2,500

THE UP CENTER

580 E MAIN STREET SUITE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 70,000

THE VALENTINE MUSEUM

1015 EAST CLAY STREET
RICHMOND,VA23219 		N/A PC GEN. CHARITABLE 50,000

TIDEWATER COMMUNITY COLLEGE

121 COLLEGE PLACE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 2,500

TIDEWATER COMMUNITY COLLEGE EDUCATI

121 COLLEGE PLACE
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 100,000

TIDEWATER WINDS

PO BOX 62000
VIRGINIA BEACH,VA23466 		N/A PC GEN. CHARITABLE 12,000

TIDEWATER YOUTH SERVICES FOUNDATION

2404 AIRLINE BOULEVARD
PORTSMOUTH,VA23701 		N/A PC GEN. CHARITABLE 50,000

TRANSITIONS LIFECARE

250 HOSPICE CIRCLE
RALEIGH,NC27607 		N/A PC GEN. CHARITABLE 25,000

UNITED WAY OF SOUTH HAMPTON ROADS

2515 WALMER AVENUE
NORFOLK,VA23513 		N/A PC GEN. CHARITABLE 100,000

UNIVERSITY OF LOUISVILLE

STUDENT FINANCIAL AID OFF
LOUISVILLE,KY40292 		N/A PC GEN. CHARITABLE 2,500

UNIVERSITY OF NORTH CAROLINA WILMIN

WARWICK CENTER - ROOM 140
WILMINGTON,NC284035951 		N/A PC GEN. CHARITABLE 2,500

UNIVERSITY OF VIRGINIA

STUDENT FINANCIAL SERVICE
CHARLOTTESVILLE,VA22903 		N/A PC GEN. CHARITABLE 7,525

VIRGINIA BEACH NEPTUNE FESTIVAL

265 KINGS GRANT ROADSUITE
VIRGINIA BEACH,VA23452 		N/A PC GEN. CHARITABLE 34,000

VIRGINIA COMMONWEALTH UNIVERSITY

1015 FLOYD AVENUE FIRST F
RICHMOND,VA232843036 		N/A PC GEN. CHARITABLE 2,500

VIRGINIA MUSEUM OF HISTORY & CULTUR

PO BOX 7311
RICHMOND,VA23221 		N/A PC GEN. CHARITABLE 30,000

VIRGINIA REPERTORY THEATRE

114 WEST BROAD STREET
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 50,000

VIRGINIA STAGE COMPANY

PO BOX 3770
NORFOLK,VA23514 		N/A PC GEN. CHARITABLE 200,000

VIRGINIA SYMPHONY ORCHESTRA

150 BOUSH STREETSUITE 201
NORFOLK,VA23510 		N/A PC GEN. CHARITABLE 100,000

VIRGINIA TECH

OFFICE OF THE UNIVERSITY
BLACKSBURG,VA24061 		N/A PC GEN. CHARITABLE 15,000

VIRGINIA WAR MEMORIAL FOUNDATION

621 S BELVIDERE STREET
RICHMOND,VA23220 		N/A PC GEN. CHARITABLE 10,000

VIRGINIA WESLEYAN UNIVERSITY

5817 WESLEYAN DRIVE
VIRGINIA BEACH,VA23455 		N/A PC GEN. CHARITABLE 62,500

WAKEMED FOUNDATION

3000 NEW BERN AVENUE
RALEIGH,NC27612 		N/A PC GEN. CHARITABLE 50,000

WAKE TECHNICAL COMMUNITY COLLEGE FO

9101 FAYETTEVILLE ROAD
RALEIGH,NC27603 		N/A PC GEN. CHARITABLE 25,000

WATER'S EDGE VILLAGE SCHOOL

1126 SCHOOLHOUSE LANE PO
COROLLA,NC27927 		N/A PC GEN. CHARITABLE 25,000

WESTERN CAROLINA UNIVERSITY

OFFICE OF UNIVERSITY SCHO
CULLOWHEE,NC28723 		N/A PC GEN. CHARITABLE 2,500

WESTERN TIDEWATER FREE CLINIC INC

2019 MEADE PKWY
SUFFOLK,VA23434 		N/A PC GEN. CHARITABLE 25,000

WHEELS4HOPE

411 E DURHAM ROAD
CARY,NC27511 		N/A PC GEN. CHARITABLE 25,000

WILLIAM & MARY MARSHALL-WYTHE SCHOO

PO BOX 8795
WILLIAMSBURG,VA23187 		N/A PC GEN. CHARITABLE 5,000

WILLIAM & MARY RAYMOND A MASON SCH

PO BOX 8795
WILLIAMSBURG,VA23187 		N/A PC GEN. CHARITABLE 5,000

WORLD CENTRAL KITCHEN INC

200 MASSACHUSETTS AVE NW
WASHINGTON,DC20001 		N/A PC GEN. CHARITABLE 104

WVTF PUBLIC RADIO

3520 KINGSBURY LANE
ROANOKE,VA24014 		N/A PC GEN. CHARITABLE 180

YOUNG AUDIENCES OF VIRGINIA INC D

420 NORTH CENTER DRIVE SU
NORFOLK,VA23502 		N/A PC GEN. CHARITABLE 5,000
Total .................................right arrow 3a 7,418,106
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-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 ........... 		    14 56,543  
4 Dividends and interest from securities ....     14 530,770  
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 .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    14 892,925  
9 Net income or (loss) from special events:         135,967
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) ..   1,480,238 135,967
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,616,205
(See worksheet in line 13 instructions to verify calculations.)
Part XV-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 XV-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 CONDUCTS TWO MAJOR FUNDRAISERS EACH YEAR TO SUPPORT ITS CHARITABLE ACTIVITIES. THESE EVENTS INCLUDE A GOLF TOURNAMENT AND A FALL EXTRAVAGANZA. ALL NET PROCEEDS FROM THESE EVENTS ARE USED TO FUND THE FOUNDATION'S SCHOLARSHIPS AND CHARITABLE CONTRIBUTIONS. THE WORK FOR THESE EVENTS IS PERFORMED BY VOLUNTEERS, MINIMIZING EXPENSES AND MAXIMIZING THE FUNDS AVAILABLE FOR CHARITABLE PURPOSES.
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
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.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
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
2023
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) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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

$ 5,346,667


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
7
FIS GLOBAL
 
1935 WOODCREST DRIVE
 
WINTER PARK, FL32792

$ 13,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
13
WM JORDAN COMPANY INC
 
11010 JEFFERSON AVENUE
 
NEWPORT NEWS, VA23601

$ 20,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
19
TOTAL BUSINESS SOLUTIONS
 
3413 GRIFFIN STREET
 
PORTSMOUTH, VA23707

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
25
POE ENTERPRISES
 
899 NORFOLK SQUARE
 
NORFOLK, VA23502

$ 19,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
31
BON SECOURS VA HEALTH SYSTEM
 
110 KINGSLEY LANE SUITE 511
 
NORFOLK, VA23505

$ 25,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
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
43
LANDMARK HOTEL GROUP
 
20 CONSTITUTION DRIVE SUITE 100
 
VIRGINIA BEACH, VA23462

$ 6,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
49
HOME ASSOCIATES OF VIRGINIA INC
 
3780 SHORE DRIVE
 
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
55
HOOK LAW CENTER
 
295 BENDIX ROAD SUITE 170
 
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
61
RIVERSIDE
 
500 J CLYDE MORRIS BLVD
 
NEWPORT NEWS, VA23601

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
G ROBERT ASTON JR
6001 HARBOUR VIEW BLVD
 
SUFFOLK, VA23435

$ 15,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
8
HBA ARCHITECTURE & INTERIOR DESIGN
 
ONE COLUMBUS CENTER SUITE 1000
 
VIRGINIA BEACH, VA23462

$ 14,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
14
ACHIEVE-1 LLC
 
4501 HIGHWOODS PARKWAY SUITE 460
 
GLEN ALLEN, VA23060

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
20
WILLIAMS MULLEN
 
200 SOUTH 10TH STREET SUITE 1600
 
RICHMOND, VA23219

$ 18,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
26
SEGRA
 
222 PARK CENTRAL AVE SUITE 1650
 
VIRGINIA BEACH, VA23462

$ 8,000


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

$ 15,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
38
SENTARA HEALTH PLANS
 
1330 SENTARA PARK
 
VIRGINIA BEACH, VA23464

$ 8,500


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
44
SPECIAL EVENTS ENTERTAINMENT INC
 
2211 ELLIOTT AVENUE
 
PORTSMOUTH, VA23702

$ 6,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
50
VIRGINIA MARITIME ASSOCIATION
 
PO BOX 3487
 
NORFOLK, VA23514

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
56
APPLIED RESOURCE TECHNOLOGIES LLC
 
916 EXECUTIVE CT STE 200
 
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
62
TALKDESK
 
201 SPEAR STREET SUITE 1100
 
SAN FRANCISCO, CA94105

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
HOWARD HANNA
 
1321 LASKIN ROAD
 
VIRGINIA BEACH, VA23451

$ 18,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
9
JOHNS BROTHERS SECURITY
 
701 FORD DRIVE SUITE A
 
NORFOLK, VA23523

$ 23,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
15
CPG INC
 
PO BOX 9157
 
CHESAPEAKE, VA23321

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
21
PC&A BUSINESS ENVIRONMENTS
 
7420 CENTRAL BUSINESS PARK DR 4
 
NORFOLK, VA23513

$ 7,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
27
PIPER SANDLER & CO
 
1251 AVENUE OF THE AMERICAS
6TH FLOOR
NEW YORK, NY10020

$ 13,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
33
BOWDITCH AUTOMOTIVE
 
11291 JEFFERSON AVE
 
NEWPORT NEWS, VA23601

$ 12,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
39
PRIORITY LEXUS
 
3909 VIRGINIA BEACH BLVD
 
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
45
CORE 22 DEISGN BUILD
 
4433 CORPORATION LANE 200
 
VIRGINIA BEACH, VA23462

$ 6,500


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
51
MCGUIREWOODS
 
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
57
BEHL ORTHODONTICS
 
1157 FIRST COLONIAL ROAD STE 200
 
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
63
WILBANKS SMITH & THOMAS ASSET MGMT
 
150 WEST MAIN STREET SUITE 1700
 
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
4
FIRST TEAM AUTO GROUP
 
3400 WESTERN BRANCH BLVD
 
CHESAPEAKE, VA23321

$ 8,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
10
KPMG
 
440 MONTICELLO AVENUE SUITE 1900
 
NORFOLK, VA23510

$ 10,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
16
MINI-PRICE SELF STORAGE
 
2900 SABRE STREET SUITE 75
 
VIRGINIA BEACH, VA23452

$ 10,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
22
HUNTINGTON INGALLS INCORPORATED
 
4101 WASHINGTON AVE
 
NEWPORT NEWS, VA23607

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
28
CAMPOSTELLA BUILDERS & SUPPLY CORP
 
1109 POPPLETON STREET
 
NORFOLK, VA23523

$ 6,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
34
COASTAL HOSPITALITY ASSOCIATES LLC
 
3612 ATLANTIC AVENUE
 
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
40
MANCON
 
1961 DIAMOND SPRINGS RD
 
VIRGINIA BEACH, VA23455

$ 7,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
46
WOLCOTT RIVERS GATES
 
200 BENDIX ROAD SUITE 300
 
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
52
REGENT UNIVERSITY
 
1000 REGENT UNIVERSITY DRIVE
 
VIRGINIA BEACH, VA23464

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
58
BIRDSONG PEANUTS
 
612 MADISON AVENUE
 
SUFFOLK, VA23434

$ 5,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
64
DAVCON INC
 
240 LONDON BRIDGE RD
 
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
5
FORVIS
 
4350 CONGRESS STREET SUITE 900
 
CHARLOTTE, NC28209

$ 8,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
11
PRESIDIO
 
1908 CANDYTUFT COURT
 
VIRGINIA BEACH, VA23456

$ 10,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
17
POTTER AND COMPANY
 
1604 HILLTOP WEST EXECUTIVE CENTER
SUITE 202
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
DOMA TECHNOLOGIES
 
2875 SABRE STREET SUITE 500
 
VIRGINIA BEACH, VA23452

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
29
CHUBB INSURANCE COMPANY
 
15 MOUNTAIN VIEW ROAD
 
WARREN, NJ07061

$ 5,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
35
CHARLES BARKER AUTOMOTIVE
 
4949 VIRGINIA BEACH BLVD
 
VIRGINIA BEACH, VA23462

$ 12,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
41
REPAY
 
3 WEST PACES FERRY RD NW SUITE 200
 
ATLANTA, GA30305

$ 7,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
47
BISHARD HOMES
 
4104 HOLLY ROAD
 
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
53
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
59
LAKE TAYLOR HOSPITAL
 
1309 KEMPSVILLE ROAD
 
NORFOLK, VA23502

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
65
INTEGRITY STAFFING SERVICES INC
 
615 LYNNHAVEN PKWAY SUITE 201
 
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
6
FIRST DATA
 
PO BOX 979
 
BROOKFIELD, WI53008

$ 10,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
12
SUSSEX DEVELOPEMENT CORPORATION
 
109 S LYNNHAVEN ROAD SUITE 200
 
VIRGINIA BEACH, VA23452

$ 16,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
18
THE BREEDEN COMPANY
 
560 LYNNHAVEN PARKWAY
 
VIRGINIA BEACH, VA23452

$ 10,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
24
LANSING BUILDING PRODUCTS
 
2221 EDWARD HOLLAND DRIVE SUITE 300
 
RICHMOND, VA23230

$ 13,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
30
LJ-JKM & JL-JKM ENTERPRISES
 
3328 WESTERN BRANCH BLVD
 
CHESAPEAKE, VA23321

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Name of organization
TOWNEBANK FOUNDATION
  		Employer identification number
54-2036534
Part I
Contributors
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
36
FISERV
 
3150 SKYLIGHT DRIVE EAST
 
EAST YORK, PA17402

$ 12,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
42
SPI PRODUCTIONS
 
4752 EUCLID ROAD
 
VIRGINIA BEACH, VA23462

$ 6,500


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
48
DOMINION ENERGY CHARITABLE FDN
 
600 E CANAL STREET
 
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
54
TROUTMAN PEPPER
 
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
60
MCLESKEY & ASSOCIATES
 
2859 VIRGINIA BEACH BLVD SUITE 106
 
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
66
CHKD
 
601 CHILDRENS LANE
 
NORFOLK, VA23507

$ 5,000


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
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) (2023)
Schedule B (Form 990) (2023)
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) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 4,480      

TY 2023 InvestmentsCorpStockSchedule
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Name of Stock End of Year Book Value End of Year Fair Market Value
INVESTMENTS - RAYMOND JAMES 2,905,173 3,364,339
INVESTMENTS - SCHOLARSHIP ASTON 202,405 240,684
INVESTMENTS - SCHOLARSHIP ANDERSON 121,437 170,514
INVESTMENTS - RICHMOND 6917 10,416,275 13,272,552
INVESTMENTS - RICHMOND 6938 1,728,079 7,201,920

TY 2023 OtherExpensesSchedule
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FALL EXTRAVAGANZA        
FALL EXTRAVAGANZA EXPENSES 421,551   421,551  
GOLF TOURNAMENT        
GOLF TOURNAMENT EXPENSES 90,090   90,090  
EXPENSES        
OFFICE EXPENSES 1,335      


TY 2023 OtherIncomeSchedule2
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
FALL EXTRAVAGANZA 510,427   510,427
GOLF TOURNAMENT 137,181   137,181


TY 2023 OtherProfessionalFeesSchedule
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 64,642 64,642 64,642  


TY 2023 TaxesSchedule
Name:
TOWNEBANK FOUNDATION
EIN:
54-2036534
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 15,000      
FOREIGN TAX 1,993 1,993 1,993