Richard and Diane Schmalensee Foundation
Richard and Diane Schmalensee Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WELLESLEY HILLS, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $521K in total assets. In 2024, it awarded 14 grants totaling $54K. Net investment income was $74K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$521K
+5.7% YoY
Annual Giving
$54K
-71.9% YoY
Grant Count
14
-6.7% YoY
Avg Grant Size
$4K
-69.9% YoY
Under IRS private-foundation payout rules, Richard and Diane Schmalensee Foundation reported a distributable amount of $26K for 2024 — the minimum it must pay out in qualifying distributions.
About Richard and Diane Schmalensee Foundation
Based on IRS filings
Richard and Diane Schmalensee Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WELLESLEY HILLS, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $521K in total assets. In 2024, it awarded 14 grants totaling $54K. Net investment income was $74K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $520,770 | $492,714 | $594,884 |
| Revenue | $81,820 | $90,246 | $48,091 |
| Expenses | $56,896 | $195,021 | $44,025 |
| Qualifying Distributions | $54,000 | $192,500 | $41,500 |
| Net Investment Income | $74,334 | $83,501 | $41,068 |
| Distributable Amount | $26,298 | $26,403 | $35,144 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
82 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Resources for the Future ($10,000), Mgh Genitourinary Cancer Research Fund ($10,000), Boston Ballet ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BOSTON BALLET BOSTON, MA | CHARITABLE-UNRESTRICTED | $5,000 |
| CHURCH OF THE REDEEMER CHESTNUT HILL, MA | CHARITABLE-UNRESTRICTED | $3,500 |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY CAMBRIDGE, MA | CHARITABLE-UNRESTRICTED | $1,000 |
| RESOURCES FOR THE FUTURE WASHINGTON, DC | CHARITABLE-UNRESTRICTED | $10,000 |
| SAFE PASSAGE NEW GLOUCESTER, ME | CHARITABLE-UNRESTRICTED | $1,000 |
| PIONEER INST FOR PUBLIC POLICY RESEARCH BOSTON, MA | CHARITABLE-UNRESTRICTED | $5,000 |
| MASSBAY CC FOUNDATION WELLESLEY HILLS, MA | CHARITABLE-UNRESTRICTED | $5,000 |
| MAX WARBURG COURAGE CURR BOSTON, MA | CHARITABLE-UNRESTRICTED | $5,000 |
| MASSACHUSETTS EYE & EAR BOSTON, MA | CHARITABLE - UNRESTRICTED | $5,000 |
| MGH GENITOURINARY CANCER RESEARCH FUND BOSTON, MA | CHARITABLE - UNRESTRICTED | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RICHARD L SCHMALENSEE | TRUSTEE | — | — |
| DIANE H SCHMALENSEE | TRUSTEE | — | — |
| ALEXANDER C SCHMALENSEE | TRUSTEE | — | — |
| NICHOLAS H SCHMALENSEE | TRUSTEE | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Richard and Diane Schmalensee Foundation?
Richard and Diane Schmalensee Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WELLESLEY HILLS, MA. It holds $521K in total assets as of 2024.
How large is Richard and Diane Schmalensee Foundation?
As of 2024, Richard and Diane Schmalensee Foundation holds $521K in total assets with $82K in annual revenue. It awarded 14 grants totaling $54K in 2024.
Where does Richard and Diane Schmalensee Foundation operate?
Richard and Diane Schmalensee Foundation has awarded grants in California, District of Columbia, Hawaii, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, Vermont.
What size grants does Richard and Diane Schmalensee Foundation award?
In 2024, Richard and Diane Schmalensee Foundation awarded 14 grants totaling $54K — an average of about $4K per grant, based on its IRS Form 990 filings.
How much is Richard and Diane Schmalensee Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Richard and Diane Schmalensee Foundation reported a distributable amount of $26K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Richard and Diane Schmalensee Foundation's EIN?
Richard and Diane Schmalensee Foundation's EIN (Employer Identification Number) is 20-3560276. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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