Russell Family Foundation
- Assets
- $5.3m
- Revenue
- $327.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 05/2017
- Data as of
- 12/2022
- EIN
- 81-4827883
Organization Overview
Russell Family Foundation is located in Detroit, MI. The organization was established in 2017. According to its NTEE Classification (T19) the organization is classified as: Support N.E.C., 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. 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.
Since 2020, Russell Family Foundation has awarded 27 individual grants totaling $843,143. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTED CHARITABLE ORGANIZATIONS AND ACTIVITIES THROUGH THE AWARDING OF 11 GRANTS TO 11 DIFFERENT ORGANIZATIONS TOTALING $357,871, IMPACTING THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEVEN GRANTS WERE MADE TO TAX-EXEMPT CHARITABLE ORGANIZATIONS TO SUPPORT CHARITABLE ACTIVITIES PRIMARILY IN SOUTHEASTERN MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard L Devore Start 4122 President And Secretary | OfficerTrustee | 0.5 | $0 |
Mariam C Noland End 33122 President And Secretary | OfficerTrustee | 0.5 | $0 |
John G Russell Chair | OfficerTrustee | 0.5 | $0 |
Kenneth Whipple Treasurer | OfficerTrustee | 0.5 | $0 |
Margaret A Russell Vice Chair | OfficerTrustee | 0.5 | $0 |
David B Korte Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19 |
| Total Program Service Revenue | $0 |
| Investment income | $175,171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $152,003 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $327,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $357,871 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,248 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $387,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,730 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,266,913 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,295,643 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $53,264 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $53,264 |
| Net assets without donor restrictions | $5,242,379 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,295,643 |
Grants Awarded
Over the last fiscal year, Russell Family Foundation has awarded $357,871 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ALTERNATIVES FOR GIRLS PURPOSE: COLLEGE- AND CAREER-READINESS SUPPORTING DETROIT MIDDLE AND HIGH SCHOOL STUDENTS AND FAMILIES | $25,000 |
APEX ACADEMY INC PURPOSE: PROVIDE ACADEMIC, ATHLETIC, AND PERSONAL SUPPORT FOR STUDENT-ATHLETES IN LANSING PUBLIC HIGH SCHOOLS | $50,000 |
BOYS HOPE GIRLS HOPE DETROIT PURPOSE: PROGRAMMING THAT ADDRESSES NEEDS FOR STUDENTS AT HOME AND IN THE CLASSROOM | $50,000 |
CHILDREN'S CENTER OF WAYNE COUNTY INC PURPOSE: LITERACY PROGRAMMING AND TRAINING FOR BASIC NEEDS AND FAMILY SAFETY | $28,000 |
COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN PURPOSE: GENERAL OPERATIONS | $28,264 |
FREE BIKES 4 KIDZ - DETROIT PURPOSE: HELP COLLECT, REPAIR, AND DISTRIBUTE BICYCLES TO CHILDREN IN NEED IN DETROIT AND NEARBY COMMUNITIES | $25,000 |