The Schmidt Family Foundation
The Schmidt Family Foundation maintains substantial assets despite recent operating losses, with no reported officer compensation.
EIN: 204170342 · Palo Alto, CA · NTEE: B82 · Updated: 2026-03-28
Is The Schmidt Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Schmidt Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Schmidt Family Foundation
The Schmidt Family Foundation (EIN: 204170342) is a nonprofit organization based in Palo Alto, CA, classified under NTEE code B82. The organization reported total revenue of $397.2M and total assets of $2.0B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Schmidt Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Schmidt Family Foundation is a major nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $116.3M |
| Total Expenses | $168.5M |
| Surplus / Deficit | $-52,160,041 |
| Total Assets | $1.8B |
| Total Liabilities | $51.6M |
| Net Assets | $1.8B |
| Operating Margin | -44.9% |
| Debt-to-Asset Ratio | 2.8% |
| Months of Reserves | 130.7 months |
Financial Health Grade: B
In 2023, The Schmidt Family Foundation reported a deficit of $52.2M with expenses exceeding revenue, holds 130.7 months of operating reserves (strong position), has a debt-to-asset ratio of 2.8% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), The Schmidt Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 13.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.8% | +16.5% | +15.4% |
| 2022 | -0.2% | +15.8% | -30.3% |
| 2021 | -38.6% | +11.0% | +26.3% |
| 2020 | -40.4% | -0.8% | +26.9% |
| 2019 | +1625.0% | +203.2% | +286.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 The Schmidt Family Foundation with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, The Schmidt Family Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $52.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the foundation. This is highly favorable, suggesting that all operational funds are directed towards the foundation's programmatic and administrative needs, rather than individual salaries.
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 The Schmidt Family Foundation's IRS 990 filings:
- Recent operating losses: In 2023, expenses ($168.4M) significantly exceeded revenue ($116.2M), resulting in a net loss of over $52 million. A similar trend was observed in 2022 and 2021.
Strengths
The following positive indicators were identified for The Schmidt Family Foundation:
- Substantial Asset Base: The foundation holds nearly $2 billion in assets, providing significant financial stability and capacity for future grant-making.
- Zero Officer Compensation: Consistently reporting 0% officer compensation across all filings is a strong indicator of financial efficiency and dedication to mission.
- Significant Growth: The foundation has demonstrated substantial growth in assets and revenue over the past decade, indicating strong financial management and donor support.
- Low Liabilities: Liabilities are consistently a small fraction of total assets, indicating a healthy balance sheet and low financial risk.
Frequently Asked Questions about The Schmidt Family Foundation
Is The Schmidt Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Schmidt Family Foundation (EIN: 204170342) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does The Schmidt Family Foundation spend its money?
The Schmidt Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Schmidt Family Foundation tax-deductible?
The Schmidt Family Foundation is registered as a tax-exempt nonprofit (EIN: 204170342). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is The Schmidt Family Foundation a good charity?
Based on the available IRS 990 data, The Schmidt Family Foundation appears to be a very good charity. It has substantial assets, a history of significant grant-making, and notably reports 0% officer compensation, indicating a strong commitment to its mission.
How has the foundation's financial position changed over time?
The foundation has experienced significant growth. Its assets grew from $178 million in 2011 to nearly $2 billion in 2023, and annual revenue has fluctuated but generally increased, demonstrating substantial expansion and financial capacity.
What is the trend in the foundation's expenses?
Expenses have generally increased over time, from $15.9 million in 2011 to $168.4 million in 2023, reflecting a growing scale of operations and grant disbursements, which is typical for an expanding foundation.
Filing History
IRS 990 filing history for The Schmidt Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Schmidt Family Foundation's revenue has grown by 337%, moving from $26.6M to $116.3M. Total assets increased by 930.5% over the same period, from $178.0M to $1.8B. Total functional expenses rose by 955.5%, from $16.0M to $168.5M. In its most recent filing year (2023), The Schmidt Family Foundation reported a deficit of $52.2M, with expenses exceeding revenue. The organization holds $51.6M in liabilities against $1.8B in assets (debt-to-asset ratio: 2.8%), resulting in net assets of $1.8B.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $116.3M | $168.5M | $1.8B | $51.6M | — | View 990 |
| 2022 | $105.0M | $144.7M | $1.6B | $78.9M | — | View 990 |
| 2021 | $105.2M | $125.0M | $2.3B | $56.7M | — | View 990 |
| 2020 | $171.2M | $112.6M | $1.8B | $77.6M | — | View 990 |
| 2019 | $287.1M | $113.5M | $1.4B | $47.9M | — | — |
| 2015 | $16.6M | $37.4M | $368.6M | $12.7M | — | View 990 |
| 2014 | $38.1M | $35.7M | $399.4M | $10.0M | — | View 990 |
| 2013 | $102.0M | $27.5M | $412.0M | $10.0M | — | View 990 |
| 2012 | $150.5M | $26.9M | $312.2M | $8.4M | — | View 990 |
| 2011 | $26.6M | $16.0M | $178.0M | $3.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $116.3M, expenses of $168.5M, and assets of $1.8B (revenue +10.8% year-over-year).
- 2022: Revenue of $105.0M, expenses of $144.7M, and assets of $1.6B (revenue -0.2% year-over-year).
- 2021: Revenue of $105.2M, expenses of $125.0M, and assets of $2.3B (revenue -38.6% year-over-year).
- 2020: Revenue of $171.2M, expenses of $112.6M, and assets of $1.8B (revenue -40.4% year-over-year).
- 2019: Revenue of $287.1M, expenses of $113.5M, and assets of $1.4B (revenue +1625.0% year-over-year).
- 2015: Revenue of $16.6M, expenses of $37.4M, and assets of $368.6M (revenue -56.3% year-over-year).
- 2014: Revenue of $38.1M, expenses of $35.7M, and assets of $399.4M (revenue -62.6% year-over-year).
- 2013: Revenue of $102.0M, expenses of $27.5M, and assets of $412.0M (revenue -32.3% year-over-year).
- 2012: Revenue of $150.5M, expenses of $26.9M, and assets of $312.2M (revenue +465.7% year-over-year).
- 2011: Revenue of $26.6M, expenses of $16.0M, and assets of $178.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Schmidt Family Foundation:
Data Sources and Methodology
This transparency report for The Schmidt Family 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.