Nonprofit · EIN 23-7423942
CARL AND VERNA SCHMIDT FOUNDATION
Tax-exempt · ROCHESTER, MN 55903
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,998,587 | $2,520,803 | -$522,216 | $44,276,560 | $0 | $44,276,560 |
| December 31, 2023 | 990-PF | $1,688,877 | $2,561,337 | -$872,460 | $39,985,776 | $0 | $39,985,776 |
| December 31, 2022 | 990-PF (amended) | $990,205 | $2,510,260 | -$1,520,055 | $36,033,705 | $0 | $36,033,705 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $774,120
- Interest
- $17,189
- Net gain from sales of assets
- $1,207,278
Expenses
- Grants and similar amounts paid
- $2,005,736
- Disbursements for charitable purposes
- $2,089,863
- Excise tax on investment income
- $22,194
Balance sheet and other
- Total assets, start of year
- $39,985,776
- Total assets, end of year
- $44,276,560
- Total liabilities, end of year
- $0
- Net assets, end of year
- $44,276,560
- Fair market value of assets
- $44,288,085
- Qualifying distributions
- $2,089,863
- Net investment income
- $1,998,587
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 |
|---|---|---|---|
| ALAN C ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 25 | $0 |
| NADINE K ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 0 | $0 |
990-PF for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALAN C ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 20 | $0 |
| NADINE K ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 0 | $0 |
990-PF for the year ended December 31, 2022: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALAN C ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 14 | $0 |
| NADINE K ANDERSON 121 14TH ST NE, ROCHESTER, MN 55906 | TRUSTEE | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 638, ROCHESTER, MN 55903-0638
- Signed the 990-PF
- ALAN C ANDERSON, TRUSTEE
- Phone
- (507) 285-2517
- Return prepared by
- ALAN C ANDERSON CHARTERED CPA
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
- 23-7423942
- 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
- 1958
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $44,276,560
- Income (IRS master file)
- $2,514,643
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $1,998,587 | $2,520,803 | $44,276,560 | IRS |
| 990-PF | December 2023 | $1,688,877 | $2,561,337 | $39,985,776 | XML |
| 990-PF | December 2022 | $990,205 | $2,510,260 | $36,033,705 | XML |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | 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 23-7423942).
Questions about CARL AND VERNA SCHMIDT FOUNDATION
- What is the EIN of CARL AND VERNA SCHMIDT FOUNDATION?
- The employer identification number (EIN) of CARL AND VERNA SCHMIDT FOUNDATION is 23-7423942.
- Is CARL AND VERNA SCHMIDT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1958.
- Are donations to CARL AND VERNA SCHMIDT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CARL AND VERNA SCHMIDT FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of CARL AND VERNA SCHMIDT 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 CARL AND VERNA SCHMIDT 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 CARL AND VERNA SCHMIDT FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 2 people; 0 received compensation from the organization.
- How much revenue does CARL AND VERNA SCHMIDT FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,998,587, expenses of $2,520,803 and total assets of $44,276,560 at year end.
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