The Russell Family Foundation
- Assets
- $102.1m
- Revenue
- $6.1m
- Investments
- $90.6m
- Employees
- 0
- Location
- Gig Harbor, WA
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 91-1663336
Organization Overview
The Russell Family Foundation is located in Gig Harbor, WA. The organization was established in 1995. 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. 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 12/2021, Russell Family Foundation generated $6.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $6.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Russell Family Foundation has awarded 1,544 individual grants totaling $41,514,254. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
JANE'S FELLOWSHIP PROGRAMTHE FOUNDATION OPERATES A GRANT-MAKING PROGRAM CALLED JANE'S FELLOWSHIP PROGRAM. THE PURPOSE OF THE PROGRAM IS TO SUPPORT GRASSROOTS LEADERS IN TACOMA AND PIERCE COUNTY, WASHINGTON, WHO ARE ACTIVE COMMUNITY STEWARDS, DEDICATED TO IMPROVING THE QUALITY OF LIFE IN THE COMMUNITY.EVERY 18-24 MONTHS, THE FOUNDATION SELECTS INDIVIDUALS TO FORM EACH CLASS OF FELLOWS. THE JANE'S FELLOWSHIP CLASSES ARE 12 MONTHS AND EACH FELLOW RECEIVES: A FINANCIAL STIPEND TOTALING $8,500; AN OPPORTUNITY TO APPLY FOR COMMUNITY PROJECT GRANTS; AND EXTENSIVE TRAINING AND SUPPORT ON LEADERSHIP DEVELOPMENT AND COMMUNITY BUILDING.IN 2021, JANE'S FELLOWSHIP HAD 13 FELLOWS:TOTAL OPERATING EXPENSES = $ 261,919TOTAL GRANT EXPENSES = $ 490,500THE PROGRAM HAS BEEN APPROVED UNDER THE IRC CODE SECTION 4945(G)(3) BY THE INTERNAL REVENUE SERVICE IN THE PRIVATE LETTER RULING DATED JANUARY 3, 2005.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Simpson CEO | 40 | $394,271 | |
Holly Powers Sr Program Officer | 40 | $199,429 | |
Erin Kahn Director Of Strategy | 24 | $149,926 | |
Linsey Sauer Grants & Operations | 40 | $137,220 | |
Fabiola Greenawalt Program Officer | 40 | $115,256 | |
Necashaw Montgomery Program Manager | 40 | $93,296 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tiedemann Wealth Management | 12/30/21 | $373,229 |
Marcho Partners Feeder Fund (Delaware) Lp | 12/30/21 | $115,783 |
Generation Investment Management Us Llp | 12/30/21 | $204,215 |
Global Impact Access Partnership Lp | 12/30/21 | $128,270 |
Fundsmith Sustainable Equity Fund Lp | 12/30/21 | $114,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $43,673 |
| Dividends & Interest | $595,267 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,040,677 |
| Capital Gain Net Income | $5,542,741 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,413,586 |
| Total Revenue | $6,093,203 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $394,271 |
| Other employee salaries and wages | $837,298 |
| Pension plans, employee benefits | $288,596 |
| Interest | $31,581 |
| Taxes | $91,756 |
| Depreciation | $0 |
| Occupancy | $16,639 |
| Travel, conferences, and meetings | $12,755 |
| Printing and publications | $2,455 |
| Other expenses | $894,793 |
| Total operating and administrative expenses | $3,553,161 |
| Contributions, gifts, grants paid | $3,387,762 |
| Total expenses and disbursements | $6,940,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,001,940 |
| Savings and temporary cash investments | $3,913,679 |
| 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 | $1,463,317 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,649 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $65,094,308 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $127,064 |
| Total assets | $102,077,149 |
| Accounts payable and accrued expenses | $289,292 |
| Grants payable | $586,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $9,560,070 |
| Total liabilities | $10,435,862 |
Grants Awarded
Over the last fiscal year, The Russell Family Foundation has awarded $610,564 in support to 178 organizations.
| Grant Recipient | Amount |
|---|---|
Tacoma, WA PURPOSE: GENERAL OPERATING SUPPORT | $600,000 |
Gig Harbor, WA PURPOSE: CAPITAL CAMPAIGN | $100,000 |
SEATTLE ECONOMIC DEVELOPMENT FUND DBA BUSINESS IMPACT NW PURPOSE: TECHNICAL ASSISTANCE FOR PIERCE COUNTY WORK | $100,000 |
Seattle, WA PURPOSE: PUGET SOUND PROTECTION AND RESTORATION | $85,000 |
Seattle, WA PURPOSE: GENERAL OPERATING SUPPORT | $85,000 |
NA'AH ILLAHEE FUND PURPOSE: SALISH SEA COLLECTIVE | $80,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Russell Family Foundation has recieved totaling $3,033,350.
| Awarding Organization | Amount |
|---|---|
The Aslan Charitable Foundation Gig Harbor, WA PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS FROM THE RUSSELL FAMILY FOUNDATION (91-1663336) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | $1,516,675 |
Smiling Dog Foundation Seattle, WA PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS FROM THE RUSSELL FAMILY FOUNDATION (91-1663336) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | $1,516,675 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James F And Marion L Miller Foundation Portland, OR | $164,280,841 | $30,090,803 |
Gary E Milgard Family Foundation-Cari Tacoma, WA | $114,220,911 | $3,602,287 |
Samis Foundation Seattle, WA | $93,922,239 | $13,751,752 |
Greg Carr Foundation Inc Idaho Falls, ID | $40,032,587 | $6,894,106 |
The Russell Family Foundation Gig Harbor, WA | $102,077,149 | $6,093,203 |
Mckenzie River Gathering Foundation Portland, OR | $17,520,565 | $8,839,824 |
Gary E Milgard Family Foundation - Mark Tacoma, WA | $117,467,534 | $7,345,386 |
The Sarkowsky Family Charitable Foundation Seattle, WA | $565,957 | $3,012,734 |
David And Amy Fulton Foundation Seattle, WA | $63,197,245 | $1,065,965 |
Ronald W Naito Md Foundation Portland, OR | $42,239,889 | $5,436,826 |
Helen E Snedden Foundation Fairbanks, AK | $8,832,360 | $5,012,483 |
The Renaissance Foundation Lake Oswego, OR | $17,519,986 | $2,588,304 |