Peter & Mary Russo Family Foundation Inc
The Peter & Mary Russo Family Foundation Inc is a private independent family foundation established in 2004 and located in Surf City, New Jersey. The foundation primarily funds the operations of other organizations, with a focus on research and treatment initiatives, as well as the humane care of animals.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$17.8M
+10.9% YoY
Annual Giving
$625K
+5.0% YoY
Grant Count
25
-3.8% YoY
Avg Grant Size
$25K
+9.2% YoY
Mission & Focus Areas
The foundation has not provided a formal mission statement. However, based on grantmaking activity, primary funding areas include:
- Research and treatment (particularly medical research)
- Animal welfare and humane care
- General organizational operations support
Grantmaking
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Geographic Focus
Where this funder awards grants
The foundation operates from Surf City, New Jersey and funds organizations nationally, including institutions in Tennessee (St Jude Children's Research Hospital) and California (Hoag Hospital Foundation).
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $17,826,955
- Total Revenues: $1,145,702
- Total Expenses: $871,892
- Number of Employees: 0
Organization Details
- EIN: 03-0422500
- IRS Ruling Year: 2002
- NTEE Code: T22 (Private Independent Foundations)
- IRS Filing Requirement: Form 990-PF
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $17,826,955 | $16,068,033 | $13,120,614 |
| Revenue | $1,145,702 | $1,263,282 | $823,363 |
| Expenses | $871,892 | $821,819 | $957,916 |
| Qualifying Distributions | $625,000 | $595,000 | $640,000 |
| Net Investment Income | $898,810 | $1,042,581 | $539,046 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
143 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include St Jude Children's Hospital ($100,000), The Barack Obama Foundation ($65,000), Hoag Hospital Foundation ($50,000).
| Recipient | Purpose | Amount |
|---|---|---|
| HOAG HOSPITAL FOUNDATION NEWPORT BEACH, CA | SUPPORT RESEARCH AND TREATMENT | $50,000 |
| GEORGETOWN UNIVERSITY WASHINGTON, DC | SCHOLARSHIP ENDOWMENT | $30,000 |
| ST JUDE CHILDREN'S HOSPITAL MEMPHIS, TN | SUPPORT RESEARCH AND TREATMENT | $100,000 |
| SOUTHERN OCEAN MEDICAL CENTER FOUND EDISON, NJ | RESEARCH & FUNDING OF NEW CONSTRUCTION. | $20,000 |
| FOOD FRIENDS INC WASHINGTON, DC | PROVIDE NUTRITIONAL SERVICES | $10,000 |
| THE COLLEGE OF NJ FOUNDATION TCNJ EWING, NJ | PROVIDE SCHOLARSHIP ENDOWMENT FUNDING | $32,000 |
| MAXIMILLIAN DRUG ED CHARITY NORTH BEACH, NJ | FUNDING OF OPERATIONS | $20,000 |
| CALIFORNIA STATE PARKS FOUNDATION SAN FRANCISCO, CA | FUNDING OF OPERATIONS | $13,000 |
| ANTHONY RIZZO FAMILY FOUNDATION COCONUT CREEK, FL | FUNDING OF OPERATIONS | $25,000 |
| KURE LTL INCKURE IT CANCER NEWPORT BEACH, CA | RESEARCH & FUNDING OF OPERATIONS | $40,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Peter J Russo - President (Compensation: $73,062 as of November 2024)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PETER J RUSSO JR | President | 30 | $80,231 |
| MARIANNE NAHIN | Vice President | 1 | — |
| NANCY MCDEVITT | Vice President | 1 | — |
Contact Information
Address: 42 N 5th St, Surf City, NJ 08008-5276
Telephone: 609-384-5239
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Peter & Mary Russo Family Foundation Inc fund?
The foundation has not provided a formal mission statement. However, based on grantmaking activity, primary funding areas include: • Research and treatment (particularly medical research) • Animal welfare and humane care • General organizational operations support
How do I apply for a grant from Peter & Mary Russo Family Foundation Inc?
**Grant Activity (2024)** • Made 29 grants in 2024 • Total grants distributed: $871,892 (2024 expenses) **Recent Grant Examples (2024)** • St Jude Children's Research Hospital: $100,000 (Support Research and Treatment) • The Obama Foundation: $65,000 (Funding of Operations) • Hoag Hospital Foundation: $50,000 (Support Research and Treatment) **Grant Characteristics** • Grants range from $50,000 to $100,000+ based on recent activity • Focus on established organizations and institutions • Support…
Where does Peter & Mary Russo Family Foundation Inc make grants?
The foundation operates from Surf City, New Jersey and funds organizations nationally, including institutions in Tennessee (St Jude Children's Research Hospital) and California (Hoag Hospital Foundation).
What size grants does Peter & Mary Russo Family Foundation Inc award?
In 2024, Peter & Mary Russo Family Foundation Inc awarded 25 grants totaling $625K — an average of about $25K per grant, based on its IRS Form 990 filings.
What is Peter & Mary Russo Family Foundation Inc's EIN?
Peter & Mary Russo Family Foundation Inc's EIN (Employer Identification Number) is 03-0422500. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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