Arthur J Schmitt Foundation is located in Northbrook, IL. The organization was established in 1959. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arthur J Schmitt 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 06/2023, Arthur J Schmitt Foundation generated $527.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Arthur J Schmitt Foundation has awarded 66 individual grants totaling $4,029,500. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
N/A
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Name Not Listed Executive Director | 25 | $72,123 | |
Name Not Listed Director | 1 | $10,000 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $10,000 | |
Name Not Listed Foundation President/chairman | 4 | $10,000 | |
Name Not Listed Treasurer | 1 | $10,000 |
Statement of Revenue | |
---|---|
Contributions, Gifts, Grants & Similar | $0 |
Interest on Savings | $98 |
Dividends & Interest | $381,525 |
Net Rental Income | $0 |
Net Gain on Sale of Assets | $145,749 |
Capital Gain Net Income | $69,041 |
Net ST Capital Gain | $0 |
Income Modifications | $0 |
Profit on Inventory Sales | $0 |
Other Income | $0 |
Total Revenue | $527,372 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $122,501 |
Other employee salaries and wages | $0 |
Pension plans, employee benefits | $5,517 |
Interest | $0 |
Taxes | $1,539 |
Depreciation | $0 |
Occupancy | $0 |
Travel, conferences, and meetings | $1,994 |
Printing and publications | $0 |
Other expenses | $9,242 |
Total operating and administrative expenses | $217,679 |
Contributions, gifts, grants paid | $840,000 |
Total expenses and disbursements | $1,057,679 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,155 |
Savings and temporary cash investments | $0 |
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 | $14,482 |
Net Investments - land, buildings, equipment | $0 |
Investments—mortgage loans | $0 |
Investments—other | $5,260,811 |
Net Land, buildings, and equipment | $0 |
Other assets | $0 |
Total assets | $18,304,328 |
Accounts payable and accrued expenses | $3,891 |
Grants payable | $0 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $3,891 |
Over the last fiscal year, Arthur J Schmitt Foundation has awarded $840,000 in support to 13 organizations.
Grant Recipient | Amount |
---|---|
BENEDICTINE UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $60,000 |
DANIEL MURPHY SCHOLARSHIP FUND PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $75,000 |
DEPAUL UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $75,000 |
DOMINICAN UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $65,000 |
HIGH SIGHT PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $60,000 |
LEWIS UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS & LEADERSHIP DEVELOPMENT | $60,000 |