The Richard M Schulze Family Foundation
- Assets
- $248.7m
- Revenue
- $165.2m
- Investments
- $231.8m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/2014
- Data as of
- 12/2019
- EIN
- 46-5588406
Organization Overview
The Richard M Schulze Family Foundation is located in Minneapolis, MN. The organization was established in 2014. 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.
For the year ending 12/2019, Richard M Schulze Family Foundation generated $165.2m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $48.1m during the year ending 12/2019. While expenses have increased by 21.0% per year over the past 3 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.
Since 2018, Richard M Schulze Family Foundation has awarded 2,327 individual grants totaling $86,024,287. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark C Dienhart President And CEO | 45 | $656,688 | |
Stephen A Hoeppner Vice President | 40 | $277,656 | |
Marla J Freidrichs Senior Program Offic | 40 | $149,421 | |
Michael P Zumwinkle Senior Program Offic | 40 | $149,408 | |
Linda C Halverson Senior Program Offic | 40 | $149,220 | |
Kelly Webster Senior Program Offic | 40 | $136,421 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Northern Trust Company | 12/30/19 | $190,461 |
Us Bank | 12/30/19 | $69,615 |
University Of St Thomas | 12/30/19 | $277,500 |
Olympus Ventures Llc | 12/30/19 | $353,116 |
Windchill Technologies Llc | 12/30/19 | $146,813 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25,506,086 |
| Interest on Savings | $745,244 |
| Dividends & Interest | $3,941,123 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $134,960,816 |
| Capital Gain Net Income | $134,960,816 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $165,153,269 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $656,688 |
| Other employee salaries and wages | $1,408,613 |
| Pension plans, employee benefits | $227,372 |
| Interest | $0 |
| Taxes | $928,520 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,721 |
| Printing and publications | $0 |
| Other expenses | $1,296,390 |
| Total operating and administrative expenses | $4,574,101 |
| Contributions, gifts, grants paid | $43,514,105 |
| Total expenses and disbursements | $48,088,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,170,998 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $573,174 |
| 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 | $86,088,117 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,187,833 |
| Total assets | $248,694,629 |
| Accounts payable and accrued expenses | $49,167 |
| Grants payable | $14,434,468 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,507,719 |
| Total liabilities | $16,991,354 |
Grants Awarded
Over the last fiscal year, The Richard M Schulze Family Foundation has awarded $43,514,105 in support to 1,221 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: HUMAN SERVICES | $10,000,000 |
MOFFITT CANCER CENTER PURPOSE: HEALTH | $2,000,000 |
St Paul, MN PURPOSE: EDUCATION | $1,488,258 |
CATHOLIC CHARITIES PURPOSE: HUMAN SERVICES | $1,000,000 |
St Paul, MN PURPOSE: EDUCATION | $1,000,000 |
Minneapolis, MN PURPOSE: EDUCATION | $850,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,347,640,816 | $94,804,638 |
The Richard M Schulze Family Foundation Minneapolis, MN | $248,694,629 | $165,153,269 |
Medtronic Communities Foundation Minneapolis, MN | $139,693,396 | $82,177,681 |
Northwest Area Foundation St Paul, MN | $476,449,216 | $15,069,261 |
Manitou Fund White Bear Lake, MN | $984,047,898 | $969,820,600 |
Richard O Jacobson Foundation Inc Des Moines, IA | $0 | $21,500,018 |
J A Wedum Foundation Minneapolis, MN | $132,054,818 | $56,321,347 |
Lunda Charitable Fund Inc Black River Falls, WI | $54,780,973 | $2,553,689 |
Target Foundation Minneapolis, MN | $17,816,807 | $22,990,908 |
Herbert H Kohl Charities Inc Milwaukee, WI | $0 | $4,457,488 |
3m Foundation St Paul, MN | $14,130,445 | $13,263,360 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $222,792,049 | $14,759,051 |