Nonprofit · EIN 20-4170342
THE SCHMIDT FAMILY FOUNDATION
Tax-exempt · PALO ALTO, CA 94301
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $103,699,636 | $227,730,180 | -$124,030,544 | $1,990,498,177 | $61,197,350 | $1,929,300,827 |
| December 31, 2023 | 990-PF | $116,291,888 | $168,451,929 | -$52,160,041 | $1,834,552,574 | $51,597,452 | $1,782,955,122 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $971,100
- Dividends
- $20,640,302
- Interest
- $53
- Net rental income
- $99,595
- Net gain from sales of assets
- $81,824,078
- Other income
- $164,508
Expenses
- Grants and similar amounts paid
- $195,537,703
- Compensation of officers, directors and key employees
- $530,010
- Salaries, compensation and benefits (total)
- $8,579,483
- Disbursements for charitable purposes
- $200,982,190
- Excise tax on investment income
- $1,752,140
Balance sheet and other
- Total assets, start of year
- $1,834,552,574
- Total assets, end of year
- $1,990,498,177
- Total liabilities, end of year
- $61,197,350
- Net assets, end of year
- $1,929,300,827
- Fair market value of assets
- $1,990,498,177
- Qualifying distributions
- $209,140,998
- Net investment income
- $133,444,242
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH SCIORTINO 555 BRYANT STREET 370, PALO ALTO, CA 94301 | EXECUTIVE DIRECTOR/DIRECTOR | 40 | $530,010 | $40,050 |
| N DARANI 555 BRYANT STREET 370, PALO ALTO, CA 94301 | VP OF PROGRAMS, 11TH Highest-paid employee | 40 | $430,010 | $49,059 |
| L DAVIS 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PROGRAM DIRECTOR Highest-paid employee | 40 | $308,037 | $40,901 |
| M KOULOURIS 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PROGRAM DIRECTOR Highest-paid employee | 40 | $305,005 | $47,563 |
| A MBATI 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PORTFOLIO DIRECTOR Highest-paid employee | 40 | $293,755 | $47,377 |
| J DEAN 555 BRYANT STREET 370, PALO ALTO, CA 94301 | MANAGING DIRECTOR, I Highest-paid employee | 40 | $289,756 | $39,957 |
| WENDY SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PRESIDENT/DIRECTOR | 20 | $0 | $0 |
| ERIC SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 0.5 | $0 | $0 |
| SOPHIE SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 0.25 | $0 | $0 |
| AMY RAO 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 5 | $0 | $0 |
| MARIA SEFERIAN 555 BRYANT STREET 370, PALO ALTO, CA 94301 | GENERAL COUNSEL/DIRECTOR | 2 | $0 | $0 |
| FRANCES BABB 555 BRYANT STREET 370, PALO ALTO, CA 94301 | SECRETARY | 0.5 | $0 | $0 |
| JEANNE HUEY 555 BRYANT STREET 370, PALO ALTO, CA 94301 | CHIEF FINANCIAL OFFICER | 10 | $0 | $0 |
990-PF for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH SCIORTINO 555 BRYANT STREET 370, PALO ALTO, CA 94301 | EXECUTIVE DIRECTOR/DIRECTOR | 40 | $452,553 | $29,555 |
| N DARANI 555 BRYANT STREET 370, PALO ALTO, CA 94301 | VP OF PROGRAMS, 11TH Highest-paid employee | 40 | $426,206 | $50,511 |
| M KOULOURIS 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PROGRAM DIRECTOR Highest-paid employee | 40 | $311,286 | $48,497 |
| S BELL 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PROGRAM DIRECTOR Highest-paid employee | 40 | $290,326 | $29,822 |
| J DEAN 555 BRYANT STREET 370, PALO ALTO, CA 94301 | MANAGING DIRECTOR, I Highest-paid employee | 30 | $283,241 | $40,992 |
| M SCHROPE 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PROGRAM DIRECTOR Highest-paid employee | 40 | $273,297 | $50,076 |
| WENDY SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | PRESIDENT/DIRECTOR | 20 | $0 | $0 |
| ERIC SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 0.5 | $0 | $0 |
| SOPHIE SCHMIDT 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 0.25 | $0 | $0 |
| AMY RAO 555 BRYANT STREET 370, PALO ALTO, CA 94301 | DIRECTOR | 5 | $0 | $0 |
| MARIA SEFERIAN 555 BRYANT STREET 370, PALO ALTO, CA 94301 | GENERAL COUNSEL/DIRECTOR | 2 | $0 | $0 |
| FRANCES BABB 555 BRYANT STREET 370, PALO ALTO, CA 94301 | SECRETARY | 0.5 | $0 | $0 |
| JEANNE HUEY 555 BRYANT STREET 370, PALO ALTO, CA 94301 | CHIEF FINANCIAL OFFICER | 10 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 555 BRYANT STREET 370, PALO ALTO, CA 94301-1704
- In care of
- % JEANNE HUEY CFO-SECRETARY
- Signed the 990-PF
- JEANNE HUEY, CHIEF FINANCIAL OFFICER
- Phone
- (650) 376-7100
- Return prepared by
- HOOD & STRONG LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 20-4170342 or by the name THE SCHMIDT FAMILY FOUNDATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 20-4170342
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $1,990,498,177
- Income (IRS master file)
- $397,205,811
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $103,699,636 | $227,730,180 | $1,990,498,177 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $116,291,888 | $168,451,929 | $1,834,552,574 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-4170342).
Questions about THE SCHMIDT FAMILY FOUNDATION
- What is the EIN of THE SCHMIDT FAMILY FOUNDATION?
- The employer identification number (EIN) of THE SCHMIDT FAMILY FOUNDATION is 20-4170342.
- Is THE SCHMIDT FAMILY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to THE SCHMIDT FAMILY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does THE SCHMIDT FAMILY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of THE SCHMIDT FAMILY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE SCHMIDT FAMILY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of THE SCHMIDT FAMILY FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 13 people; 6 received compensation from the organization, the highest $530,010 (JOSEPH SCIORTINO, EXECUTIVE DIRECTOR/DIRECTOR).
- How much revenue does THE SCHMIDT FAMILY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $103,699,636, expenses of $227,730,180 and total assets of $1,990,498,177 at year end.
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