The Schmidt Family Foundation
- Assets
- $1.8b
- Revenue
- $171.2m
- Investments
- $1.7b
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 03/2007
- Data as of
- 12/2020
- EIN
- 20-4170342
Organization Overview
The Schmidt Family Foundation is located in Palo Alto, CA. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schmidt Family Foundation 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 12/2020, Schmidt Family Foundation generated $171.2m in total revenue. All expenses for the organization totaled $112.6m during the year ending 12/2020. While expenses have increased by 44.4% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Schmidt Family Foundation has awarded 1,335 individual grants totaling $317,007,289. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
11TH HOUR PROJECT - FUNDED EVENTS AND ACTIVITIES RELATED TO INCREASING EDUCATION AND AWARENESS AROUND CLIMATE CHANGE, RENEWABLE ENERGY, SUSTAINABLE FOOD AND AGRICULTURE, HUMAN RIGHTS AND MARINE TECHNOLOGY
GREENHOUND - FUNCTIONED AS: 1) A BUS DEPOT TO PROMOTE PUBLIC TRANSPORTATION, 2) A TRANSIT AND CULTURAL INFORMATION CENTER, AND 3) THE LOCAL FOOD PANTRY LOCATION
REMAIN NANTUCKET - SPONSORED COMMUNITY EVENTS WITH SOCIAL, CLIMATE AND ENVIRONMENTAL SUSTAINABILITY MESSAGES
MIDDLE C - PROPERTY 100% USED BY NANTUCKET NON-PROFITS - NANTUCKET COMMUNITY MUSIC CENTER AND NANTUCKET ADULT COMMUNITY SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Sciortino Executive Director/director | 40 | $385,880 | |
Jeanne Huey Chief Financial Officer | 35 | $329,270 | |
N Darani Vp, 11th Hour Projec | 40 | $321,200 | |
J Dean Director, Impacting | 40 | $257,420 | |
M Koulouris Program Director | 40 | $256,590 | |
L Davis Program Director | 40 | $254,558 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hillspire Llc | 12/30/21 | $3,975,725 |
General Atlantic Service Company Lp | 12/30/21 | $444,963 |
Geode Capital Management Llc | 12/30/21 | $297,412 |
Rally | 12/30/21 | $184,450 |
Torulosa Management Llc | 12/30/21 | $346,921 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $84,324,770 |
| Interest on Savings | $1,029 |
| Dividends & Interest | $10,101,390 |
| Net Rental Income | $107,345 |
| Net Gain on Sale of Assets | $76,108,153 |
| Capital Gain Net Income | $198,718,105 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,505 |
| Total Revenue | $171,198,618 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $766,883 |
| Other employee salaries and wages | $3,964,720 |
| Pension plans, employee benefits | $1,426,451 |
| Interest | $1,150 |
| Taxes | $6,603,608 |
| Depreciation | $169,058 |
| Occupancy | $1,179,093 |
| Travel, conferences, and meetings | $203,322 |
| Printing and publications | $2,300 |
| Other expenses | $1,512,441 |
| Total operating and administrative expenses | $22,340,082 |
| Contributions, gifts, grants paid | $90,238,285 |
| Total expenses and disbursements | $112,578,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,668,152 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,120,214 |
| Net Investments - land, buildings, equipment | $3,950,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $425,014,325 |
| Net Land, buildings, and equipment | $15,832,969 |
| Other assets | $26,045,536 |
| Total assets | $1,804,927,974 |
| Accounts payable and accrued expenses | $4,236,664 |
| Grants payable | $22,987,648 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $37,072,761 |
| Other liabilities | $13,320,000 |
| Total liabilities | $77,617,073 |
Grants Awarded
Over the last fiscal year, The Schmidt Family Foundation has awarded $108,039,995 in support to 487 organizations.
| Grant Recipient | Amount |
|---|---|
HUMAN RIGHTS WATCH INC PURPOSE: PROTECTING HUMAN RIGHTS | $4,325,000 |
ELLEN MACARTHUR FOUNDATION PURPOSE: ADVANCING SUSTAINABLE MATERIALS | $3,400,000 |
MONTEREY BAY AQUARIUM FOUNDATION PURPOSE: OCEAN STEWARDSHIP AND RESEARCH | $3,000,000 |
New York, NY PURPOSE: SUPPORTING HUMANITARIAN RELIEF | $2,500,000 |
RUDOLF STEINER FOUNDATION PURPOSE: PROTECTING HUMAN RIGHTS IN AFRICA | $2,467,820 |
HUMAN RIGHTS WATCH INC PURPOSE: CAPACITY BUILDING FOR PARTNERS, PROTECTING HUMAN RIGHTS IN AFRICA | $2,225,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Schmidt Family Foundation has recieved totaling $34,115.
| Awarding Organization | Amount |
|---|---|
Social And Environmental Entrepreneurs Inc Calabasas, CA PURPOSE: RETURN OF UNUSED GRANT FUNDS ADVOCATES FOR COMMUNITY ALTERNA | $34,115 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Schmidt Family Foundation Palo Alto, CA | $1,804,927,974 | $171,198,618 |
Charles And Helen Schwab Foundation San Francisco, CA | $691,573,201 | $120,025,754 |
Hispanic Scholarship Fund Gardena, CA | $152,619,685 | $60,036,131 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
College Track Oakland, CA | $64,375,720 | $27,539,542 |
Business For Social Responsibility San Francisco, CA | $23,283,625 | $33,746,077 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Mcconnell Foundation Redding, CA | $0 | $21,867,294 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |
Making Waves Foundation Inc Richmond, CA | $241,696,341 | $12,436,212 |