Russell H & Maxine E Smith Charitable Foundation
- Assets
- $2.1m
- Revenue
- $136.6k
- Investments
- $1.9m
- Employees
- 0
- Location
- Bay City, MI
- Founding
- 11/1991
- Data as of
- 12/2023
- EIN
- 38-2978504
Organization Overview
Russell H & Maxine E Smith Charitable Foundation is located in Bay City, MI. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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 H & Maxine E Smith Charitable 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 12/2023, Russell H & Maxine E Smith Charitable Foundation generated $136.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $157.9k during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 8 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.
Since 2016, Russell H & Maxine E Smith Charitable Foundation has awarded 74 individual grants totaling $974,463. 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 |
|---|---|---|---|
Dominic Monastiere Ttee/president | 0 | $0 | |
Jean Manning Ttee/v-P | 0 | $0 | |
Thomas H Tabor Ttee/secretary | 0 | $0 | |
Heather Gallegos Ttee | 0 | $0 | |
G Matthew Jeffrey Ttee | 0 | $0 | |
Barbara Engelhardt-Carter Ttee/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,620 |
| Dividends & Interest | $50,223 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $81,798 |
| Capital Gain Net Income | $81,798 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $136,641 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,961 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,048 |
| Total operating and administrative expenses | $23,414 |
| Contributions, gifts, grants paid | $134,500 |
| Total expenses and disbursements | $157,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $145,246 |
| 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 | $160 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,768 |
| Total assets | $2,058,104 |
| 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, Russell H & Maxine E Smith Charitable Foundation has awarded $134,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
BAY AREA COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIP ENDOWMENT | $10,000 |
GOOD SAMARITAN RESCUE MISSION PURPOSE: GRANT FOR YOUTH HOUSING AREA | $10,000 |
SVSU FOUNDATION PURPOSE: GRANT TO FUND COLLEGE OF BUSINESS | $15,000 |
BAY AREA SOCCER ASSOCIATION PURPOSE: GRANT FOR IMPROVEMENTS TO MAPLEWOOD PARK | $30,000 |
FOSTER FAMILIES NAVIGATION & RESOURCE CENTER PURPOSE: GRANT FOR THE CREATION OF HAVEN 127, WHERE YOUTH CAN RELAX WHILE THEY WAIT PLACEMENT AFTER REMOVAL | $12,500 |
CITY OF BAY CITY PURPOSE: GRANT FOR IMPROVEMENTS TO THE KANTZLER ARBORETUM | $20,000 |