Schultz Family Foundation
- Assets
- $389.7m
- Revenue
- $5.8m
- Investments
- $321.2m
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 03/1998
- Data as of
- 12/2022
- EIN
- 91-1746414
Organization Overview
Schultz Family Foundation is located in Seattle, WA. The organization was established in 1998. 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. Schultz 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 12/2022, Schultz Family Foundation generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (41.6%) each year. All expenses for the organization totaled $21.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Schultz Family Foundation has awarded 359 individual grants totaling $54,772,562. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUED EFFORTS TO SUPPORT YOUTH TRANSITION TO ADULTHOOD INCLUDING A YOUTH SERVICE INITIATIVE ESTABLISHED TO RESPOND TO NATIONAL NEEDS BROUGHT ON BY THE COVID-19 PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Kersch-Schultz Trustee | 25 | $0 | |
Howard Schultz Trustee | 5 | $0 | |
Matthew Mccutchen Trustee | 3 | $0 | |
Addison Schultz Trustee | 3 | $0 | |
Patricia D Horoho Trustee | 3 | $50,000 | |
Dan Safier Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nicole David Inc | 12/30/22 | $110,500 |
Apco Worldwide Llc | 12/30/22 | $99,000 |
Writ Large Inc | 12/30/22 | $63,306 |
Infogr8 Ltd | 12/30/22 | $150,000 |
Your Part-time Controller Llc | 12/30/22 | $128,858 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300 |
| Interest on Savings | $443,101 |
| Dividends & Interest | $5,962,457 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$628,153 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,377 |
| Total Revenue | $5,788,082 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,000 |
| Other employee salaries and wages | $686,496 |
| Pension plans, employee benefits | $30,533 |
| Interest | $0 |
| Taxes | $1,635,000 |
| Depreciation | $10,209 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $132,361 |
| Printing and publications | $13,873 |
| Other expenses | $666,693 |
| Total operating and administrative expenses | $3,767,948 |
| Contributions, gifts, grants paid | $18,170,058 |
| Total expenses and disbursements | $21,938,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $290,379 |
| Savings and temporary cash investments | $67,684,498 |
| 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 | $10,825,000 |
| Net Land, buildings, and equipment | $42,609 |
| Other assets | $500,705 |
| Total assets | $389,719,271 |
| Accounts payable and accrued expenses | $6,160 |
| 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 | $6,160 |
Grants Awarded
Over the last fiscal year, Schultz Family Foundation has awarded $18,170,058 in support to 122 organizations.
| Grant Recipient | Amount |
|---|---|
ABORTION CARE NETWORK PURPOSE: FURTHER CHARITABLE GOALS | $20,000 |
AMALGAMATED CHARITABLE FOUNDATION INC PURPOSE: FURTHER CHARITABLE GOALS | $30,000 |
AMERICA ACHIEVES INC PURPOSE: FURTHER CHARITABLE GOALS | $15,000 |
AMERICA NEEDS YOU PURPOSE: FURTHER CHARITABLE GOALS | $150,000 |
AMERICAN CORPORATE PARTNERS PURPOSE: FURTHER CHARITABLE GOALS | $50,000 |
AMERICA'S SERVICE COMMISSIONS PURPOSE: FURTHER CHARITABLE GOALS | $400,000 |