Carl And Verna Schmidt Foundation
- Assets
- $36.0m
- Revenue
- $990.2k
- Investments
- $11.0m
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 11/1958
- Data as of
- 12/2022
- EIN
- 23-7423942
Organization Overview
Carl And Verna Schmidt Foundation is located in Rochester, MN. The organization was established in 1958. 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. Carl And Verna Schmidt 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, Carl And Verna Schmidt Foundation generated $990.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 6.1% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan C Anderson Trustee | 14 | $0 | |
Nadine K Anderson Trustee | 1 | $0 | |
Alan C Anderson Trustee | 14 | $0 | |
Nadine K Anderson Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8,997 |
| Dividends & Interest | $742,507 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $238,556 |
| Capital Gain Net Income | $238,556 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $145 |
| Total Revenue | $990,205 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,739 |
| Depreciation | $4,111 |
| Occupancy | $31,201 |
| Travel, conferences, and meetings | $4,576 |
| Printing and publications | $89,568 |
| Other expenses | $11,961 |
| Total operating and administrative expenses | $437,600 |
| Contributions, gifts, grants paid | $2,072,660 |
| Total expenses and disbursements | $2,510,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $174,301 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,557,359 |
| Net Land, buildings, and equipment | $15,584 |
| Other assets | $24,842,812 |
| Total assets | $36,033,705 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |