H Russell Smith Foundation
- Assets
- $12.0m
- Revenue
- $214.0k
- Investments
- $11.3m
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 09/2002
- Data as of
- 12/2023
- EIN
- 56-2283549
Organization Overview
H Russell Smith Foundation is located in Newport Beach, CA. The organization was established in 2002. 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. H Russell Smith 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 12/2023, H Russell Smith Foundation generated $214.0k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $562.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, H Russell Smith Foundation has awarded 28 individual grants totaling $1,980,063. 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 |
|---|---|---|---|
Stewart R Smith Pres/dir/ceo/tre | 20 | $85,000 | |
Robin A Ferracone Director | 1 | $0 | |
Logan S Smith Director | 1 | $0 | |
Mackenzie C Teymouri Director | 1 | $0 | |
Shelley Skerbitz Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,357 |
| Dividends & Interest | $192,462 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $138,656 |
| Capital Gain Net Income | $138,656 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$123,448 |
| Total Revenue | $214,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $85,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,192 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $279 |
| Total operating and administrative expenses | $157,817 |
| Contributions, gifts, grants paid | $405,002 |
| Total expenses and disbursements | $562,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,077 |
| Savings and temporary cash investments | $658,876 |
| 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 | $5,475,766 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,001,789 |
| 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, H Russell Smith Foundation has awarded $405,002 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN BALLET THEATRE PURPOSE: ABTOMORROW PLEDGE | $200,000 |
AMERICAN BALLET THEATRE PURPOSE: UNRESTRICTED CONTRIBUTION | $100,000 |
FROM PARTNERSHIP K-1S PURPOSE: GENERAL SUPPORT | $2 |
THE HUNTINGTON LIBRARY PURPOSE: FELLOWS GIFT - LOGAN & TRACY | $25,000 |
THE SECOND STAGE THEATRE INC PURPOSE: UNRESTRICTED CONTRIBUTION | $30,000 |
POMONA COLLEGE PURPOSE: ANNUAL FUND GIFT (MACKENZIE TEYMOURI) | $25,000 |