Arthur J Schmitt Foundation
- Assets
- $18.3m
- Revenue
- $527.4k
- Investments
- $18.3m
- Employees
- 0
- Location
- Northbrook, IL
- Founding
- 03/1959
- Data as of
- 06/2023
- EIN
- 36-2217999
Organization Overview
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
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Board, Officers & Key Employees
| 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 |
Financial Statements
| 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 |
Grants Awarded
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 |