Carl and Verna Schmidt Foundation
Carl and Verna Schmidt Foundation is a private foundation, based in Rochester, MN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $44.3M in total assets. In 2024, it awarded 1 grant totaling $2.0M. Net investment income was $1.6M.
Key facts about Carl and Verna Schmidt Foundation
In short: Carl and Verna Schmidt Foundation gave $2.0M across 1 grant in 2024 (avg $2.0M), mostly in Minnesota. Source: 2024 IRS Form 990-PF.
- EIN
- 23-7423942
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $2,005,736
- Grants made (2024)
- 1
- Average grant
- $2,005,736
- Median grant
- $2,005,736
- Total assets
- $44,276,560
- Primary geography
- Minnesota (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$44.3M
+10.7% YoY
Annual Giving
$2.0M
-3.9% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$2.0M
-3.9% YoY
Under IRS private-foundation payout rules, Carl and Verna Schmidt Foundation reported a distributable amount of $2.1M for 2024 — the minimum it must pay out in qualifying distributions.
How Carl and Verna Schmidt Foundation gives
- Giving grew 61% from 2021 to 2024. Method
- In 2024 it paid out 99% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 1 itemized 2024 grant dollars.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.2M (2021) to $2.1M (2023). In 2024 it made 1 grant totaling $2.0M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
The largest 2024 recipient was Schedule of Grants ($2.0M).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $1–5M range: 5 grants of 5 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Schedule of Grants Rochester, MN | See Schedule Attached | $2,005,736 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $44,276,560 | $39,985,776 | $36,030,436 |
| Revenue | $1,998,587 | $1,688,877 | $986,936 |
| Expenses | $2,520,803 | $2,561,337 | $2,510,260 |
| Qualifying Distributions | $2,089,863 | $2,169,955 | $2,144,841 |
| Net Investment Income | $1,596,695 | $1,303,388 | $639,778 |
| Distributable Amount | $2,118,554 | $1,856,835 | $1,829,209 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Carl and Verna Schmidt Foundation's 2024 filing lists 2 officers; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Alan C. Anderson
Trustee
On filings since 2020
25 hrs/week
No compensation reported
Nadine K. Anderson
Trustee
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Carl and Verna Schmidt Foundation
How much does Carl and Verna Schmidt Foundation give each year?
Carl and Verna Schmidt Foundation gave $2.0M across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.1M across 1 grant.
How large is Carl and Verna Schmidt Foundation?
Carl and Verna Schmidt Foundation reported $44.3M in total assets on its 2024 IRS Form 990-PF. It paid out $2.1M in qualifying distributions that year, against a required minimum of $2.1M (roughly 5% of its investment assets).
Where does Carl and Verna Schmidt Foundation operate?
Carl and Verna Schmidt Foundation has awarded grants in Minnesota.
What is Carl and Verna Schmidt Foundation's EIN?
Carl and Verna Schmidt Foundation's EIN (Employer Identification Number) is 23-7423942. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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