Ted And Drama Russell Family Foundation
- Assets
- $97.7m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 07/2016
- Data as of
- 12/2021
- EIN
- 47-2695560
Organization Overview
Ted And Drama Russell Family Foundation is located in Knoxville, TN. The organization was established in 2016. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Ted And Drama 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, Ted And Drama Russell Family Foundation generated $6.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.9%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Ted And Drama Russell Family Foundation has awarded 37 individual grants totaling $11,614,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CARRY OUT CHARITABLE, EDUCATIONAL, AND RELIGIOUS PURPOSES OF THE SUPPORTED ORGANIZATION, EAST TENNESSEE FOUNDATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT TO SUPPORTED ORGANIZATION, EAST TENNESSEE FOUNDATION.
PROVIDE SUPPORT TO 2 INSTITUTIONS OF HIGHER EDUCATION, CARSON NEWMAN UNIVERSITY AND TENNESSEE WESLEYAN UNIVERSITY.
PROVIDE SUPPORT TO 4 YOUTH ORGANIZATIONS (EMERALD CHARTER SCHOOLS, EMERALD YOUTH FOUNDATION, THRIVE LONSDALE YOUTH MINISTRIES, AND WESLEY HOUSE COMMUNITY CENTER) AND 10 FOOD INSECURITY ORGANIZATIONS (LOVE KITCHEN, INC., KNOX AREA RESCUE MINISTRIES, MISSION OF HOPE INC., FISH HOSPITALITY PANTRIES, INC., LADIES OF CHARITY, GOOD SAMARITAN CENTER OF LOUDON COUNTY, CROSS FOOD MINISTRY, SEVIER COUNTY FOOD MINISTRIES, COMPASSION MINISTRIES, AND SECOND HARVEST FOOD BANK OF EAST TENNESSEE)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Russell Varnedoe Chair, Fam. | OfficerTrustee | 2 | $0 |
David R Haynes Independent | Trustee | 0.2 | $0 |
Theodore W Russell Family Trust | Trustee | 2 | $0 |
Jim Cogdill Independent | Trustee | 0.2 | $0 |
Charles Peccolo Independent | Trustee | 0.2 | $0 |
Scott Lowe Independent | Trustee | 0.2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,853,501 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,975,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,828,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,869,000 |
| 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 | $4,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $411,028 |
| 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 | $16,624 |
| Total functional expenses | $3,301,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,806,412 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,311 |
| 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 | $94,854,418 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $97,704,141 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $97,704,141 |
| 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 | $97,704,141 |
Grants Awarded
Over the last fiscal year, Ted And Drama Russell Family Foundation has awarded $2,839,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Jefferson City, TN PURPOSE: NURSING SCHOOL BLDG | $2,000,000 |
Knoxville, TN PURPOSE: JUSTLEAD PROGRAM | $195,000 |
LOVE KITCHEN INC PURPOSE: DELIVERY VAN/BLDG RP | $150,000 |
Maryville, TN PURPOSE: FOOD ASSITANCE PROG | $150,000 |
Knoxville, TN PURPOSE: LAB SCHOOL PROGRAM | $100,000 |
Knoxville, TN PURPOSE: GENERAL SUPPORT | $100,000 |
Endowment Analysis
| Beg. Balance | $86,338,771 |
| Earnings | $14,666,582 |
| Admin Expense | $432,252 |
| Net Contributions | $40 |
| Grants | $2,869,000 |
| Ending Balance | $97,704,141 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
A J Fletcher Foundation Raleigh, NC | $168,653,502 | $53,698,336 |
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
The David Belk Cannon Foundation Gastonia, NC | $0 | $4,765,855 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Seymour Family Foundation Irrev Charitable Trust Uad 12-21-15 Charlotte, NC | $3,421,952 | $6,290,943 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
Ted And Drama Russell Family Foundation Knoxville, TN | $97,704,141 | $6,828,732 |
Real Estate Charitable Foundation Kansas City, MO | $43,935,265 | $4,204,580 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |