Marvin And Virgina Schmid Foundation
- Assets
- $28.0m
- Revenue
- $2.0m
- Investments
- $26.1m
- Employees
- 0
- Location
- Bellevue, NE
- Founding
- 09/1996
- Data as of
- 12/2022
- EIN
- 47-0800637
Organization Overview
Marvin And Virgina Schmid Foundation is located in Bellevue, NE. The organization was established in 1996. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Marvin And Virgina Schmid 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 12/2022, Marvin And Virgina Schmid Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.9%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paige Norton Director | 0 | $5,000 | |
Martha Rogers Davis Director/pre | 20 | $50,000 | |
Michael Sullivan Director | 0 | $0 | |
Eric Schmid Director | 0 | $5,000 | |
Mary Schmid Norton Director | 0 | $5,000 | |
Heidi Wilson Secretary | 0 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $691,898 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,327,854 |
| Capital Gain Net Income | $1,327,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,019,752 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,825 |
| Interest | $0 |
| Taxes | $60,958 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $305,367 |
| Total operating and administrative expenses | $469,198 |
| Contributions, gifts, grants paid | $1,670,000 |
| Total expenses and disbursements | $2,139,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,910,566 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $15,081,858 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $28,011,678 |
| Accounts payable and accrued expenses | $3,426 |
| 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 | $3,426 |
Grants Awarded
Over the last fiscal year, Marvin And Virgina Schmid Foundation has awarded $1,670,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NEBRASKA FOUNDATION PURPOSE: SCHOLARSHIPS/LIBRARY/TECHNOLOGY | $1,170,000 |
COLUMBUS LIBRARY FOUNDATION PURPOSE: LIBRARY | $500,000 |