The Richard M Schulze Family Foundation
- Assets
- $250.4m
- Revenue
- $45.9m
- Investments
- $239.3m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/2014
- Data as of
- 12/2021
- 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. Richard M Schulze Family 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 12/2021, Richard M Schulze Family Foundation generated $45.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.1%) each year. All expenses for the organization totaled $52.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Richard M Schulze Family Foundation has awarded 5,421 individual grants totaling $183,378,379. 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 | $604,446 | |
Stephen A Hoeppner Vice President | 40 | $293,311 | |
Michael P Zumwinkle Senior Program Offic | 40 | $157,557 | |
Marla J Freidrichs Senior Program Offic | 40 | $157,499 | |
Linda C Halverson Senior Program Offic | 40 | $157,491 | |
Kelly Webster Senior Program Offic | 40 | $154,012 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Capital Management | 12/30/21 | $196,355 |
Windchill Technologies Llc | 12/30/21 | $110,583 |
Olympus Ventures Llc | 12/30/21 | $443,345 |
Champlain Investment Partners | 12/30/21 | $151,467 |
University Of St Thomas | 12/30/21 | $303,996 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,780,000 |
| Interest on Savings | $1,623,535 |
| Dividends & Interest | $2,842,709 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,611,535 |
| Capital Gain Net Income | $12,678,365 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $24,506 |
| Total Revenue | $45,882,285 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $604,446 |
| Other employee salaries and wages | $1,514,663 |
| Pension plans, employee benefits | $282,162 |
| Interest | $0 |
| Taxes | $638,228 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,443 |
| Printing and publications | $0 |
| Other expenses | $1,210,110 |
| Total operating and administrative expenses | $4,303,057 |
| Contributions, gifts, grants paid | $48,568,147 |
| Total expenses and disbursements | $52,871,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,105,521 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $665,593 |
| 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 | $105,212,292 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,310,701 |
| Total assets | $250,424,427 |
| Accounts payable and accrued expenses | $17,254 |
| Grants payable | $29,947,999 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,509,320 |
| Total liabilities | $32,474,573 |
Grants Awarded
Over the last fiscal year, The Richard M Schulze Family Foundation has awarded $48,568,147 in support to 1,536 organizations.
| Grant Recipient | Amount |
|---|---|
MOFFITT CANCER CENTER FOUNDATION PURPOSE: HEALTH | $3,000,000 |
Kennesaw, GA PURPOSE: HEALTH | $2,000,000 |
St Paul, MN PURPOSE: EDUCATION | $1,611,081 |
CATHOLIC CHARITIES PURPOSE: HUMAN SERVICES | $1,400,000 |
CHILDREN'S MINNESOTA FOUNDATION PURPOSE: HEALTH | $1,000,000 |
Minneapolis, MN PURPOSE: HEALTH | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |