The Russell Family Foundation
- Assets
- $151.0m
- Revenue
- $6.9m
- Investments
- $145.7m
- Employees
- 0
- Location
- Gig Harbor, WA
- Founding
- 05/1995
- Data as of
- 12/2019
- 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.
For the year ending 12/2019, Russell Family Foundation generated $6.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $9.0m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Russell Family Foundation has awarded 1,080 individual grants totaling $34,277,713. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 OTHER YEAR, THE FOUNDATION SELECTS INDIVIDUALS TO FORM EACH CLASS OF FELLOWS. THE JANE'S FELLOWSHIP CLASSES ARE TWO YEARS AND EACH FELLOW RECEIVES: A FINANCIAL STIPEND TOTALING $6,000; AN OPPORTUNITY TO APPLY FOR COMMUNITY PROJECT GRANTS; AND EXTENSIVE TRAINING AND SUPPORT ON LEADERSHIP DEVELOPMENT AND COMMUNITY BUILDING.IN 2019, JANE'S FELLOWSHIP HAD 12 FELLOWS:TOTAL OPERATING EXPENSES = $ 306,302TOTAL GRANT EXPENSES = $ 199,000THE 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 |
|---|---|---|---|
Richard Woo CEO | 40 | $317,139 | |
Kathleen Simpson Chief Financial Officer | 40 | $246,142 | |
Holly Powers Sr. Program Officer | 40 | $126,792 | |
Fabiola Greenawalt Program Officer | 40 | $113,138 | |
Linsey Sauer Grants & Operations | 36 | $91,150 | |
Necashaw Montgomery Program Manager | 30 | $65,551 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community At Work | 12/30/19 | $122,373 |
Fearey Group | 12/30/19 | $111,389 |
Mylkmedia Llc | 12/30/19 | $171,654 |
Silchester International Investors Inc | 12/30/19 | $96,672 |
Tiedemann Wealth Management | 12/30/19 | $431,544 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $23,398 |
| Dividends & Interest | $1,640,687 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,190,744 |
| Capital Gain Net Income | $7,306,720 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,005,981 |
| Total Revenue | $6,860,810 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $563,281 |
| Other employee salaries and wages | $543,969 |
| Pension plans, employee benefits | $292,520 |
| Interest | $83,625 |
| Taxes | $38,006 |
| Depreciation | $3,483 |
| Occupancy | $19,061 |
| Travel, conferences, and meetings | $271,537 |
| Printing and publications | $3,713 |
| Other expenses | $498,111 |
| Total operating and administrative expenses | $4,039,341 |
| Contributions, gifts, grants paid | $4,965,188 |
| Total expenses and disbursements | $9,004,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,034,136 |
| Savings and temporary cash investments | $3,124,409 |
| 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 | $900,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,367 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $78,596,804 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $229,934 |
| Total assets | $150,979,015 |
| Accounts payable and accrued expenses | $348,055 |
| Grants payable | $1,635,800 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $338,000 |
| Total liabilities | $2,321,855 |
Grants Awarded
Over the last fiscal year, The Russell Family Foundation has awarded $6,093,088 in support to 219 organizations.
| Grant Recipient | Amount |
|---|---|
Tacoma, WA PURPOSE: COMMUNITY OF INTEREST 2020 WORK PLAN FUNDING | $945,000 |
PUYALLUP WATERSHED INITIATIVE PURPOSE: PUYALLUP WATERSHED INITIATIVE - 2020 OPERATING FUNDS | $640,000 |
PUYALLUP WATERSHED INITIATIVE PURPOSE: PUYALLUP WATERSHED INITIATIVE: 2019 OPERATIONS | $375,000 |
PUYALLUP WATERSHED INITIATIVE PURPOSE: PUYALLUP WATERSHED INITIATIVE: 2019 OPERATIONS | $375,000 |
UNITED WAY OF PIERCE COUNTY PURPOSE: GENERAL OPERATING SUPPORT | $200,000 |
COLLABORATIVE EFFORT INC DBA RAIN PURPOSE: GENERAL OPERATING SUPPORT | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Russell Family Foundation has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Greater Tacoma Community Foundation Tacoma, WA PURPOSE: BUILDING CAPACITY OF PUYALLUP WATERSHED INITIATIVE COMMUNITIES OF INTEREST | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James F And Marion L Miller Foundation Portland, OR | $158,876,388 | $13,440,871 |
Samis Foundation Seattle, WA | $94,569,987 | $11,606,495 |
The Russell Family Foundation Gig Harbor, WA | $150,979,015 | $6,860,810 |
Greg Carr Foundation Inc Idaho Falls, ID | $45,330,213 | $11,248,432 |
Holland M Ware Charitable Foundation Eagle, ID | $246,555,245 | $15,589,641 |
Helen E Snedden Foundation Fairbanks, AK | $9,152,347 | $5,394,499 |
Gary E Milgard Family Foundation - Mark Tacoma, WA | $107,759,492 | $3,709,897 |
Gary E Milgard Family Foundation-Cari Tacoma, WA | $103,349,007 | $2,819,850 |
Vatheuer Family Foundation Inc Hobart, WA | $35,751,175 | $3,774,819 |
David And Amy Fulton Foundation Seattle, WA | $71,105,945 | -$65,059 |
Mckenzie River Gathering Foundation Portland, OR | $12,170,827 | $3,891,670 |
Mdekfse Family Foundation Meridian, ID | $16,827,922 | $1,235,730 |