Carl Schmitt Foundation Inc
- Assets
- $569.0k
- Revenue
- $7.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilton, CT
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 13-3925456
Organization Overview
Carl Schmitt Foundation Inc is located in Wilton, CT. The organization was established in 1998. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carl Schmitt Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Carl Schmitt Foundation Inc generated $7.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (61.1%) each year. All expenses for the organization totaled $6.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (61.2%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS MISSION IS TO PRESERVE AND TAKE CARE OF CARL SCHMITTS ARTWORK AND MEMOIRS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED THE CARL F. SCHMITT MUSEUM FOR THE PRESERVATION AND DISPLAY OF HIS ARTWORK MAINTAINED AN ART LIBRARY FOR USE BY SCHOLARS, STUDENTS AND THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel A Schmitt President | OfficerTrustee | 40 | $0 |
Austin L Schmitt Jr Vice President | OfficerTrustee | 5 | $0 |
William P Skidd Director | OfficerTrustee | 20 | $0 |
Andrew Desa Treasurer | OfficerTrustee | 5 | $0 |
David C Schmitt Director | Trustee | 1 | $0 |
Carl B Schmitt Jr Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,250 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $312 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $547 |
| Information technology | $626 |
| Royalties | $0 |
| Occupancy | $4,121 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $475 |
| All other expenses | $0 |
| Total functional expenses | $6,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,123 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $497,508 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,378 |
| Total assets | $569,009 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $569,009 |
| Total liabilities and net assets/fund balances | $569,009 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carl Schmitt Foundation Inc has recieved totaling $13.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |
Ps1 Contemporary Art Center Inc Long Island City, NY | $7,393,924 | $9,638,266 |
Isamu Noguchi Foundation And Garden Museum Long Island City, NY | $75,386,214 | $11,184,586 |
Poster House Inc New York, NY | $11,000,245 | $5,591,226 |
Queens Museum Of Art New York City Building Queens, NY | $37,385,842 | $4,485,769 |
Parrish Art Museum Inc Water Mill, NY | $42,263,571 | $6,006,161 |
New Britain Museum Of American Art Inc New Britain, CT | $48,215,040 | $5,724,995 |
Norman Rockwell Museum At Stockbridge Inc Stockbridge, MA | $12,970,897 | $4,523,521 |
De Cordova And Dana Museum And Park Lincoln, MA | $16,380,697 | $4,288,131 |
Eric Carle Museum Of Picture Book Art Inc Amherst, MA | $15,457,741 | $5,749,801 |