Smidt Foundation
- Assets
- $265.7m
- Revenue
- $2.7m
- Investments
- $187.3m
- Employees
- 0
- Location
- Beverly Hills, CA
- Founding
- 04/2017
- Data as of
- 12/2022
- EIN
- 81-4631478
Organization Overview
Smidt Foundation is located in Beverly Hills, CA. The organization was established in 2017. 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. Smidt 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, Smidt Foundation generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $19.7m during the year ending 12/2022. While expenses have increased by 16.0% per year over the past 6 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 2017, Smidt Foundation has awarded 689 individual grants totaling $117,639,167. 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 |
|---|---|---|---|
Eric L Smidt Director / President | 1 | $0 | |
Allan G Mutchnik Director / Treasurer | 1 | $0 | |
Jason Kupper Secretary (1/1/2022-9/01/2022) | 1 | $0 | |
Saba Yazdani Secretary (9/01/2022-12/31/2022) | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Drucker Institute Cgu | 12/30/22 | $278,603 |
Idea Crossing Inc Dba Skild | 12/30/22 | $60,195 |
Farkas Duffett Research Grp Llc | 12/30/22 | $55,415 |
Visceral Llc | 12/30/22 | $52,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,687,164 |
| Dividends & Interest | $991,735 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,825 |
| Capital Gain Net Income | $4,825 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,683,724 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $29,124 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $209,628 |
| Printing and publications | $0 |
| Other expenses | $71,639 |
| Total operating and administrative expenses | $1,033,796 |
| Contributions, gifts, grants paid | $18,698,287 |
| Total expenses and disbursements | $19,732,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $78,399,942 |
| 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 | $785 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $132,961,016 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,630 |
| Total assets | $265,678,716 |
| Accounts payable and accrued expenses | $54,369 |
| Grants payable | $10,128,224 |
| 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 | $10,182,593 |
Grants Awarded
Over the last fiscal year, Smidt Foundation has awarded $22,177,154 in support to 164 organizations.
| Grant Recipient | Amount |
|---|---|
COLUMBIA PUBLIC SCHOOLS PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $70,000 |
EVERGREEN SCHOOL DISTRICT 114 FOUNDATION PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $100,000 |
KALAMA SCHOOL DISTRICT #402 PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $100,000 |
ESCAMBIA COUNTY BOARD OF EDUCATION PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $70,000 |
THE SCHOOL BOARD OF BROWARD COUNTY FLORIDA PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $50,000 |
FRANKLIN COUNTY SCHOOL DISTRICT PURPOSE: 2022 HARBOR FREIGHT TOOLS FOR SCHOOLS PRIZE FOR TEACHING EXCELLENCE - SCHOOL AWARD | $70,000 |