Russell Development Company Inc

Analysis

Russell Development Company Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Russell Development Company Inc reported income of $7.7m and spending of $4.9m, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $392k to $7.7m (+1872%), an average of +111% a year. The sharpest change came in the year to December 2023, when income rose by 2376%. Over the whole period it spent 75% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Russell Development Company Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within KY. Charities of a similar size with the same main cause include United Way of Coastal and Western Connecticut Inc ($7.7m), Mammel Family Foundation ($7.7m) and Womens Foundation of Minnesota ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $7,476 against liabilities of $0, net assets of $7,476.