The Russ Newman Memorial Youth Fund was created in 2021 in memory of Russ Newman by his children to "Help Kids Compete" in life. The fund aims to provide children with things such as clothes, scholarships, and even Christmas presents. Since 2022, the RNMYF has hosted the Russ Newman Junior Invitational golf tournament which awards scholarships and athletic opportunities to several dedicated kids. The fund supports Cops and Kids, which connects Fargo Police officers with special local children to shop together for clothes and toys, and other organizations such as the Delaney Doherty Memorial Scholarship Foundation, Fargo Youth Baseball, Fargo North Youth Hockey, and Optimist Volleyball.