The@peter & Mary Russo Family Foundation Inc
- Assets
- $16.1m
- Revenue
- $1.3m
- Investments
- $15.1m
- Employees
- 0
- Location
- Surf City, NJ
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 03-0422500
Organization Overview
The@peter & Mary Russo Family Foundation Inc is located in Surf City, NJ. The organization was established in 2002. 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. The@peter & Mary 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 12/2023, The@peter & Mary Russo Family Foundation Inc generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $821.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, The@peter & Mary Russo Family Foundation Inc has awarded 267 individual grants totaling $4,758,417. 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 |
|---|---|---|---|
Peter J Russo Jr President | 30 | $73,062 | |
Marianne Nahin Vice President | 1 | $0 | |
Nancy Mcdevitt Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,320 |
| Dividends & Interest | $272,346 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $991,289 |
| Capital Gain Net Income | $997,407 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$3,673 |
| Total Revenue | $1,263,282 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $73,062 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,458 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $132,599 |
| Total operating and administrative expenses | $226,819 |
| Contributions, gifts, grants paid | $595,000 |
| Total expenses and disbursements | $821,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $92,899 |
| 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 | $2,922,990 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $860,248 |
| Total assets | $16,068,033 |
| 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, The@peter & Mary Russo Family Foundation Inc has awarded $595,000 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
HOAG HOSPITAL FOUNDATION PURPOSE: SUPPORT RESEARCH AND TREATMENT | $50,000 |
GEORGETOWN UNIVERSITY PURPOSE: SCHOLARSHIP ENDOWMENT | $30,000 |
ST JUDE CHILDREN'S HOSPITAL PURPOSE: SUPPORT RESEARCH AND TREATMENT | $100,000 |
SOUTHERN OCEAN MEDICAL CENTER FOUND PURPOSE: RESEARCH & FUNDING OF NEW CONSTRUCTION. | $20,000 |
THE COLLEGE OF NJ FOUNDATION TCNJ PURPOSE: PROVIDE SCHOLARSHIP ENDOWMENT FUNDING | $25,000 |
MAXIMILLIAN DRUG ED CHARITY PURPOSE: FUNDING OF OPERATIONS | $25,000 |