Russo Family Foundation Inc
- Assets
- $468.9k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Carlstadt, NJ
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 81-1485458
Organization Overview
Russo Family Foundation Inc is located in Carlstadt, NJ. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Russo Family Foundation Inc 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, Russo Family Foundation Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.1% each year . All expenses for the organization totaled $897.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Russo Family Foundation Inc has awarded 149 individual grants totaling $2,449,465. 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 |
|---|---|---|---|
Edward Russo CEO | 1 | $0 | |
Kimberly Pembroke President | 0.5 | $0 | |
Shalom Russo Treasurer/secretary | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,002,200 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,002,200 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $266 |
| Total operating and administrative expenses | $6,296 |
| Contributions, gifts, grants paid | $890,700 |
| Total expenses and disbursements | $896,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,920 |
| 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 | $468,920 |
| 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, Russo Family Foundation Inc has awarded $890,700 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
ALL STARS PROJECT INC PURPOSE: YOUTH DEVELOPMENT, SHELTER, AND CRISIS SERVICES. | $10,000 |
ARCHDIOCESE OF NEWARK PURPOSE: EDUCATION. | $14,400 |
CEREBRAL PALSY OF NORTHERN JERSEY INC DBA PILLAR CARE CONTINUUM PURPOSE: SUPPORT INDIVIDUALS WITH DISABILITIES. | $10,000 |
CLC FOUNDATION INC - WINSLOW THERAPEUTIC RIDING CENTER PURPOSE: TO SUPPORT INDIVIDUALS WITH DISABILITIES AT THE THERAPEUTIC RIDING CENTER. | $1,000 |
COMMUNITY FOOD BANK OF NEW JERSEY INC PURPOSE: FOOD BANKS, FOOD PANTRIES, AND FOOD DISTRIBUTION. | $83,000 |
FOUNDATION FOR EASTERN CHRISTIAN SCHOOL ASSOCIATION INC PURPOSE: EDUCATIONAL ORGANIZATION. | $6,000 |