The@michael H And Lois J Russell Family Foundation
- Assets
- $767.1k
- Revenue
- $45.7k
- Investments
- $745.8k
- Employees
- 0
- Location
- Lillian, AL
- Founding
- 03/2000
- Data as of
- 12/2022
- EIN
- 34-7084133
Organization Overview
The@michael H And Lois J Russell Family Foundation is located in Lillian, AL. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. The@michael H And Lois J Russell Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, The@michael H And Lois J Russell Family Foundation generated $45.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $47.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, The@michael H And Lois J Russell Family Foundation has awarded 40 individual grants totaling $198,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Russell Trustee | 1 | $0 | |
Lois Russell Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $37,785 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,894 |
| Capital Gain Net Income | $7,894 |
| Net ST Capital Gain | $2 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $45,679 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $970 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,095 |
| Contributions, gifts, grants paid | $44,000 |
| Total expenses and disbursements | $47,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,258 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $767,105 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The@michael H And Lois J Russell Family Foundation has awarded $44,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
LILLIAN UNITED METHODIST CHURCH PURPOSE: OPERATING FUND | $5,000 |
LILLIAN PERDIDO BAY LIBRARY PURPOSE: OPERATING FUND | $5,000 |
LILLIAN VOLUNTEER FIRE DEPT PURPOSE: OPERATING FUND | $5,000 |
BALDWIN CO SHERIFF'S BOYS RANCH PURPOSE: OPERATING FUND | $5,000 |
MARY'S SHELTER PURPOSE: OPERATING FUND | $2,000 |
WORLD WAR II MUSEUM PURPOSE: OPERATING FUND | $5,000 |