R & D Schmidt Foundation
R & D Schmidt Foundation consistently spends more than its minimal revenue, drawing down its asset base.
EIN: 202071449 · Salt Lake Cty, UT · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2K |
| Total Expenses | $3K |
| Program Spending | 80% |
| Net Assets | $13K |
| Transparency Score | 60/100 |
Is R & D Schmidt Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
R & D Schmidt Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About R & D Schmidt Foundation
R & D Schmidt Foundation (EIN: 202071449) is a nonprofit organization based in Salt Lake Cty, UT, classified under NTEE code T22. The organization reported total revenue of $2K and total assets of $13K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of R & D Schmidt Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
R & D Schmidt Foundation is a micro nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1K |
| Total Expenses | $3K |
| Surplus / Deficit | $-1,860 |
| Total Assets | $13K |
| Total Liabilities | $1 |
| Net Assets | $13K |
| Operating Margin | -186.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 53.0 months |
Financial Health Grade: B
In 2023, R & D Schmidt Foundation reported a deficit of $2K with expenses exceeding revenue, holds 53.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), R & D Schmidt Foundation's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -50.0% | +37.8% | -12.8% |
| 2022 | -33.3% | -1.2% | -0.5% |
| 2021 | -15.0% | -47.8% | +6.6% |
| 2020 | +17.7% | +8.6% | -3.5% |
| 2019 | +0.0% | -13.8% | +4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates R & D Schmidt Foundation with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, R & D Schmidt Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or directors are receiving salaries from the foundation, which is highly favorable for a small organization of this size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of R & D Schmidt Foundation's IRS 990 filings:
- Consistent deficit spending, with expenses frequently exceeding revenue (e.g., 2023 revenue $1,000 vs. expenses $2,860).
- Declining asset base over time, from $27,260 in 2011 to $12,634 in 2023, indicating a potential long-term sustainability issue.
- Lack of detailed expense breakdown in available data, making it difficult to assess program efficiency.
Strengths
The following positive indicators were identified for R & D Schmidt Foundation:
- Consistently reports 0% officer compensation, indicating no executive salaries.
- Minimal liabilities, typically $0 or $1, suggesting good financial management of debt.
- Consistent filing of IRS 990 forms, indicating compliance with reporting requirements.
Frequently Asked Questions about R & D Schmidt Foundation
Is R & D Schmidt Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, R & D Schmidt Foundation (EIN: 202071449) some concerns. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
How does R & D Schmidt Foundation spend its money?
R & D Schmidt Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to R & D Schmidt Foundation tax-deductible?
R & D Schmidt Foundation is registered as a tax-exempt nonprofit (EIN: 202071449). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of R & D Schmidt Foundation's spending goes to programs?
R & D Schmidt Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does R & D Schmidt Foundation compare to similar nonprofits?
With a transparency score of 60/100 (Good), R & D Schmidt Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is R & D Schmidt Foundation located?
R & D Schmidt Foundation is headquartered in Salt Lake Cty, Utah and files with the IRS under EIN 202071449. It is classified under NTEE code T22.
How many years of IRS 990 filings does R & D Schmidt Foundation have?
R & D Schmidt Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2K in total revenue.
Is R & D Schmidt Foundation financially sustainable long-term?
Based on the provided data, the foundation has consistently spent more than its revenue for over a decade, leading to a decline in assets from $27,260 in 2011 to $12,634 in 2023. This trend suggests it is not financially sustainable in its current operational model without new significant revenue sources or a planned spend-down of its corpus.
What are the primary expenses of the R & D Schmidt Foundation?
The provided IRS 990 summary data only lists total expenses. Without a detailed breakdown of expenses (e.g., grants, administrative costs, salaries), it is not possible to determine the primary expense categories.
How does the R & D Schmidt Foundation fund its operations?
The foundation primarily funds its operations and activities through its existing asset base, as its annual expenses frequently exceed its minimal annual revenue. For example, in 2023, revenue was $1,000 while expenses were $2,860, indicating a reliance on drawing down assets.
Filing History
IRS 990 filing history for R & D Schmidt Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), R & D Schmidt Foundation's revenue has grown by 143.9%, moving from $410 to $1K. Total assets decreased by 53.6% over the same period, from $27K to $13K. Total functional expenses rose by 9.9%, from $3K to $3K. In its most recent filing year (2023), R & D Schmidt Foundation reported a deficit of $2K, with expenses exceeding revenue. The organization holds $1 in liabilities against $13K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $13K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1K | $3K | $13K | $1 | — | — |
| 2022 | $2K | $2K | $14K | $1 | — | View 990 |
| 2021 | $3K | $2K | $15K | $1 | — | View 990 |
| 2020 | $4K | $4K | $14K | $1 | — | — |
| 2019 | $3K | $4K | $14K | $1 | — | View 990 |
| 2015 | $3K | $4K | $14K | $0 | — | View 990 |
| 2014 | $0 | $4K | $15K | $0 | — | View 990 |
| 2013 | $0 | $4K | $19K | $0 | — | View 990 |
| 2012 | $0 | $4K | $24K | $0 | — | View 990 |
| 2011 | $410 | $3K | $27K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1K, expenses of $3K, and assets of $13K (revenue -50.0% year-over-year).
- 2022: Revenue of $2K, expenses of $2K, and assets of $14K (revenue -33.3% year-over-year).
- 2021: Revenue of $3K, expenses of $2K, and assets of $15K (revenue -15.0% year-over-year).
- 2020: Revenue of $4K, expenses of $4K, and assets of $14K (revenue +17.7% year-over-year).
- 2019: Revenue of $3K, expenses of $4K, and assets of $14K (revenue +0.0% year-over-year).
- 2015: Revenue of $3K, expenses of $4K, and assets of $14K.
- 2014: Revenue of $0, expenses of $4K, and assets of $15K.
- 2013: Revenue of $0, expenses of $4K, and assets of $19K.
- 2012: Revenue of $0, expenses of $4K, and assets of $24K (revenue -100.0% year-over-year).
- 2011: Revenue of $410, expenses of $3K, and assets of $27K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for R & D Schmidt Foundation:
Data Sources and Methodology
This transparency report for R & D Schmidt Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.