Carl and Verna Schmidt Foundation

ROCHESTER, MN EIN: 23-7423942

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 grants totaling $2.0M. Net investment income was $1.6M.

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

+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.

About Carl and Verna Schmidt Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Minnesota $8.9M (100%)

States

Minnesota

Cities

Rochester

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

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

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 1 recipients in 2024

Grant Size Distribution

5 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Schedule of Grants ($2,005,736).

Recipient	Purpose	Amount
SCHEDULE OF GRANTS ROCHESTER, MN	SEE SCHEDULE ATTACHED	$2,005,736

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
ALAN C ANDERSON	TRUSTEE	25	—
NADINE K ANDERSON	TRUSTEE	—	—

Frequently Asked Questions

How large is Carl and Verna Schmidt Foundation?

As of 2024, Carl and Verna Schmidt Foundation holds $44.3M in total assets with $2.0M in annual revenue. It awarded 1 grants totaling $2.0M in 2024.

Where does Carl and Verna Schmidt Foundation operate?

Carl and Verna Schmidt Foundation has awarded grants in Minnesota.

What size grants does Carl and Verna Schmidt Foundation award?

In 2024, Carl and Verna Schmidt Foundation awarded 1 grants totaling $2.0M — an average of about $2.0M per grant, based on its IRS Form 990 filings.

How much is Carl and Verna Schmidt Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Carl and Verna Schmidt Foundation reported a distributable amount of $2.1M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

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.