Schmidt Ocean Institute is a 501(c)(3) private non-profit operating foundation established in March 2009 by Eric and Wendy Schmidt. Headquartered in Palo Alto, California, the Institute operates as a seagoing research facility dedicated to advancing oceanographic research, discovery, and knowledge through technological innovation and open sharing of information.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$108.5M
-21.0% YoY
Annual Giving
$707K
+55.1% YoY
Grant Count
19
+35.7% YoY
Avg Grant Size
$37K
+14.3% YoY
Mission & Focus Areas
Vision: The world's oceans understood through technological advancement, intelligent observation, and open sharing of information.
Mission: The Institute combines advanced science with state-of-the-art technology to achieve lasting results in ocean research, catalyze sharing of information, and communicate knowledge to audiences around the world, fostering a deeper understanding of the environment.
Primary Program Areas:
- Research Vessel Operations – Mapping and ROV (remotely operated vehicle) operations
- Marine Research Vessel Platform Development – Robotics engineering and supporting equipment
- Scientific Programs Research and Development – Supporting oceanographic research initiatives
- Science Outreach and Communication – Educating and engaging the public
The Institute dedicates its efforts to comprehensive understanding of the oceans across an intentionally broad scope of research objectives, recognizing that Earth's oceans are critically endangered and least understood parts of the environment.
Grantmaking
Schmidt Ocean Institute functions as both a research vessel operator and a grantmaker. The organization makes grants to support oceanographic research and related initiatives.
How to Apply
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Geographic Focus
Where this funder awards grants
The Institute funds projects globally, with documented funding activity in multiple U.S. states including California, District of Columbia, Maine, and New York. International funding locations include the Azores, Paris, and Rome. The organization operates in 18 countries including the United Kingdom, Philippines, Canada, Bulgaria, and Argentina.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2023-2024):
- Total Assets: $137.3 million (2023); $108.5 million (2024)
- Annual Revenue: $78.3 million (2023); $9.4 million (2024)
- Annual Expenses: $33.5 million (2023); $36.9 million (2024)
- Total Liabilities: $5.65 million (2023)
Staffing: The organization employs approximately 71-82 staff members, with recent growth of approximately 18.8% year-over-year.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $108,526,993 | $137,324,185 | $99,929,562 |
| Revenue | $9,393,588 | $78,308,682 | $46,947,890 |
| Expenses | $36,885,294 | $33,544,543 | $21,827,780 |
| Qualifying Distributions | $36,137,118 | $39,886,527 | $40,101,720 |
| Net Investment Income | $9,073,248 | $3,298,348 | — |
| Distributable Amount | — | — | — |
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
64 grants across all recorded years
Open Grants
1 open opportunity from Schmidt Ocean Institute
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Wendy Schmidt – Director/President
- Eric Schmidt – Director/Vice President
- Jyotika Virmani – Executive Director
- John Kelly – Treasurer/CFO
- Eric M. King – Senior Director, Maritime Infrastructure
- Andrew William Boyer – Director of Engineering
- Nicolas Rowland De Courcy Bingham – Principal Electrical Engineer
- Corinne J. Bassin – Head of Data Solutions
- Jason Williams – Engineering Senior Manager
Compensation Overview
From 2024 IRS filing
No officer/director data available.
Recent News & Activity
Recent developments and announcements
The Institute announced funding for five projects to advance understanding of ocean systems in a changing climate, demonstrating continued commitment to supporting research that addresses contemporary oceanographic challenges.
Five Projects Will Receive Funding to Advance Understanding of Ocean SystemsSubject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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