Schulte Family Charitable Foundation
- Assets
- $5.7m
- Revenue
- $2.7m
- Investments
- $5.4m
- Employees
- 0
- Location
- Mount Clemens, MI
- Founding
- 11/2016
- Data as of
- 12/2022
- EIN
- 81-3734158
Organization Overview
Schulte Family Charitable Foundation is located in Mount Clemens, MI. The organization was established in 2016. 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. Schulte Family Charitable 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, Schulte Family Charitable Foundation generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $155.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Schulte Family Charitable Foundation has awarded 15 individual grants totaling $814,640. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Schulte Jr President, Director, Treas | 30 | $30,000 | |
Barbara Kondratko Director, Secretary | 30 | $30,000 | |
Claudia Schulte Director | 0 | $0 | |
Travis Birdsong Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,649,371 |
| Interest on Savings | $12,160 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,661,531 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,444 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21,366 |
| Total operating and administrative expenses | $104,747 |
| Contributions, gifts, grants paid | $51,000 |
| Total expenses and disbursements | $155,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $306,502 |
| 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 | $5,368,700 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,675,202 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Schulte Family Charitable Foundation has awarded $51,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Southfield, MI PURPOSE: GENERAL OPERATING SUPPORT | $36,000 |
Berkley, MI PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Southfield, MI PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |