James Rushton I Foundation
- Assets
- $31.4m
- Revenue
- $3.0m
- Investments
- $1.6k
- Employees
- 41
- Location
- Birmingham, AL
- Founding
- 08/1988
- Data as of
- 12/2022
- EIN
- 63-0955085
Organization Overview
James Rushton I Foundation is located in Birmingham, AL. The organization was established in 1988. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 12/2022, James Rushton I Foundation employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. James Rushton I 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 12/2022, James Rushton I Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 15.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY EARLY CHILDHOOD EDUCATION PROGRAMS AND SERVICES TO CHILDREN BETWEEN SIX WEEKS AND THREE YEARS OF AGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CHILD DEVELOPMENT CENTER FOR AGES 6 WEEKS TO 3 YEARS OLD TO PROVIDE AFFORDABLE DAY CARE TO LOW INCOME PARENTS TO FACILITATE THEIR ABILITY TO BE IN THE WORK FORCE RATHER THAN ON GOVERNMENT SUBSIDIES. TUITION IS BASED ON THE PARENTS INCOME.
COOPERATIVE WORK TOWARD ESTABLISHMENT OF A MUTUAL SUPPORT COMMUNITY; INCLUDES ACTIVITIES TO BOLSTER COMMUNITY PRIDE AND INVOLVEMENT FOR THE METROPOLITAN GARDEN RESIDENTS AND FORMER RESIDENTS WHO ARE INCLUDED IN THE AMBIT OF THE HOPE VI PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deakins Ford Rushton President | OfficerTrustee | 40 | $95,000 |
Gail B Rushton Director | Trustee | 0.8 | $0 |
James Rushton Director | Trustee | 0.8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $810,986 |
| All other contributions, gifts, grants, and similar amounts not included above | $354,083 |
| Noncash contributions included in lines 1a–1f | $10,108 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,165,069 |
| Total Program Service Revenue | $518,131 |
| Investment income | $592,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $662,605 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,954,448 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,500 |
| 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. | $95,000 |
| Compensation of current officers, directors, key employees. | $71,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,381,743 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $158,781 |
| Payroll taxes | $112,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,025 |
| Fees for services: Accounting | $12,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,299 |
| Fees for services: Other | $0 |
| Advertising and promotion | $267 |
| Office expenses | $6,987 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,882 |
| Travel | $5,517 |
| 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 | $26,619 |
| Insurance | $52,930 |
| All other expenses | $243,598 |
| Total functional expenses | $2,559,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,039,621 |
| Savings and temporary cash investments | $72,342 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $33,105 |
| Investments—publicly traded securities | $30,205,182 |
| Investments—other securities | $1,606 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,351,856 |
| 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 | $9,826 |
| Total liabilities | $9,826 |
| Net assets without donor restrictions | $0 |
| 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 | $31,342,030 |
| Total liabilities and net assets/fund balances | $31,351,856 |
Grants Awarded
Over the last fiscal year, James Rushton I Foundation has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDCARE RESOURCES PURPOSE: To provide quality care and education to children. | $10,000 |
IMPACT ALABAMA PURPOSE: To activate recent college graduates to address consequences of poverty. | $5,000 |