Michael and Loretta Russo Fdn Inc
Michael and Loretta Russo Fdn Inc is a private foundation focused on Human Services, based in Sarasota, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $8K in total assets. In 2024, it awarded 4 grants totaling $57K. Net investment income was $645.
Key facts about Michael and Loretta Russo Fdn Inc
In short: Michael and Loretta Russo Fdn Inc gave $57K across 4 grants in 2024 (avg $14K), mostly in New Jersey. Source: 2024 IRS Form 990-PF.
- EIN
- 82-3721645
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $57,000
- Grants made (2024)
- 4
- Average grant
- $14,250
- Median grant
- $15,000
- Total assets
- $8,409
- Primary geography
- New Jersey (65% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Quick answers about Michael and Loretta Russo Fdn Inc
How much does Michael and Loretta Russo Fdn Inc give each year?
Michael and Loretta Russo Fdn Inc gave $57K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $10K across 1 grant.
What is Michael and Loretta Russo Fdn Inc's typical grant size?
Michael and Loretta Russo Fdn Inc's median grant in 2024 was $15,000, and its average grant was $14,250, across 4 grants on its 2024 IRS Form 990-PF.
Where does Michael and Loretta Russo Fdn Inc give grants?
Michael and Loretta Russo Fdn Inc gives mostly in New Jersey: 65% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Florida (35%). The most frequent recipient cities were Elmwood Park, NJ (2 grants).
Does Michael and Loretta Russo Fdn Inc give general operating support?
Not in 2024: none of the 4 grants with a stated purpose on Michael and Loretta Russo Fdn Inc's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Contribution" (4 grants).
How Michael and Loretta Russo Fdn Inc gives
- Giving grew 2594% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Michael and Loretta Russo Fdn Inc
- How to evaluate Michael and Loretta Russo Fdn Inc as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8K
-85.8% YoY
Annual Giving
$57K
+470.0% YoY
Grant Count
4
+300.0% YoY
Avg Grant Size
$14K
+42.5% YoY
Under IRS private-foundation payout rules, Michael and Loretta Russo Fdn Inc reported a distributable amount of $699 for 2024 — the minimum it must pay out in qualifying distributions.
About Michael and Loretta Russo Fdn Inc
Based on IRS filings
Michael and Loretta Russo Fdn Inc is a private foundation focused on Human Services, based in Sarasota, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $8K in total assets. In 2024, it awarded 4 grants totaling $57K. Net investment income was $645.
Focus Areas
Ready to take the next step with Michael and Loretta Russo Fdn Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 4 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,409 | $59,239 | $73,185 |
| Revenue | $6,206 | $2,606 | $1,505 |
| Expenses | $57,036 | $16,552 | $3,043 |
| Qualifying Distributions | $57,036 | $16,552 | $3,000 |
| Net Investment Income | $645 | $2,606 | $1,505 |
| Distributable Amount | $699 | $3,587 | $4,009 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
7 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| ST MARTHA CATHOLIC CHURCH Sarasota, FL | CONTRIBUTION | $20,000 |
| ST ELIZABETH CHURCH Wyckoff, NJ | CONTRIBUTION | $15,000 |
| ST LEO'S ROMAN CATHOLIC CHURCH Elmwood Park, NJ | CONTRIBUTION | $15,000 |
| ST LEO'S ROMAN CATHOLIC CHURCH Elmwood Park, NJ | CONTRIBUTION | $7,000 |
Leadership & Key People
Officers and directors from IRS filings
Michael and Loretta Russo Fdn Inc's 2024 filing lists 3 officers; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Edward Russo
Trustee
On filings since 2020
1 hr/week
No compensation reported
John O. McManus
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Veda S. Milin
Trustee
On filings since 2020
1 hr/week
No compensation reported
Former officers (1)
- Former: Onofrio Louis Russo (2020–2021) — Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Michael and Loretta Russo Fdn Inc?
Michael and Loretta Russo Fdn Inc is a private foundation focused on Human Services, based in Sarasota, FL. It holds $8K in total assets as of 2024.
How large is Michael and Loretta Russo Fdn Inc?
As of 2024, Michael and Loretta Russo Fdn Inc holds $8K in total assets with $6K in annual revenue. It awarded 4 grants totaling $57K in 2024.
How much is Michael and Loretta Russo Fdn Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Michael and Loretta Russo Fdn Inc reported a distributable amount of $699 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Michael and Loretta Russo Fdn Inc's EIN?
Michael and Loretta Russo Fdn Inc's EIN (Employer Identification Number) is 82-3721645. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.