Michael And Loretta Russo Foundation Inc
- Assets
- $74.7k
- Revenue
- $20.8k
- Investments
- $28.1k
- Employees
- 0
- Location
- Elmwood Park, NJ
- Founding
- 11/2018
- Data as of
- 12/2021
- EIN
- 82-3721645
Organization Overview
Michael And Loretta Russo Foundation Inc is located in Elmwood Park, NJ. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael And Loretta Russo 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 12/2021, Michael And Loretta Russo Foundation Inc generated $20.8k in total revenue. All expenses for the organization totaled $3.6k during the year ending 12/2021. While expenses have increased by 41.7% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Russo Trustee | 1 | $0 | |
John O Mcmanus Trustee | 0.5 | $0 | |
Veda S Milin Trustee | 1 | $0 | |
Onofrio Louis Russo Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $831 |
| 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 | $20,831 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,512 |
| Contributions, gifts, grants paid | $2,116 |
| Total expenses and disbursements | $3,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,614 |
| 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 | $74,723 |
| 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, Michael And Loretta Russo Foundation Inc has awarded $2,116 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ST ELIZABETH CHURCH PURPOSE: CONTRIBUTION | $2,100 |
ST ELIZABETH CHURCH PURPOSE: CONTRIBUTION | $16 |
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|---|---|---|
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Wayne County Action Program Inc Lyons, NY | $3,537,821 | $9,071,492 |
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Methodist Services Philadelphia, PA | $6,407,252 | $8,201,860 |
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Lifeworks Community Action Inc Ballston Spa, NY | $2,628,001 | $8,482,858 |