Schmidt Ocean Institute
Schmidt Ocean Institute is based in Palo Alto, California, and is listed as a private foundation filing Form 990-PF. Established in 2009 by Eric and Wendy Schmidt, it operates the research vessel R/V Falkor (too) and supports ocean research and technology development with vessel access, technical and operational expertise, and scientific facilities.
Schmidt Ocean Institute at a glance
In short: Schmidt Ocean Institute gave $707K across 19 grants in 2024 (avg $37K), top state California. 56% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $707,331
- +55.1% vs 2023
- Grants made (2024)
- 19
- +35.7% vs 2023
- Average grant
- $37,228
- +14.3% vs 2023
- Median grant
- $6,000
- Total assets
- $108,526,993
- -21.0% vs 2023
- New grantees (estimate)
- 56% first-time grantees (9 of 16, 2024; small sample)
- Primary geography
- California (30% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Schmidt Ocean Institute
- Accepts unsolicited proposals
- No
- How to Apply
The Institute states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
The Institute states that it makes contributions only to preselected charitable organizations and **does not accept unsolicited requests** for funds. Separately, it accepts Expressions of Interest and full proposals on a rolling basis for collaborative research expeditions aboard Falkor (too), with proposals reviewed twice per year. This process seeks vessel-based research collaborations, not unsolicited requests for charitable grants.
- Deadline
- Rolling
- Contact
Mailing address: 555 Bryant Street 374, Palo Alto, CA 94301
Phone: (650) 461-8092
Website: https://schmidtocean.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Schmidt Ocean Institute
Who Schmidt Ocean Institute funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was The Regents of the University of California ($180K). Together the top 10 received $685K.
Grant Size Distribution
64 grants across all recorded years
The most common grant size was under $50K: 37 grants of 64 (58%).
Geographic Focus
Where this funder awards grants
The Institute solicits vessel-based research proposals for locations and years within Falkor (too)’s areas of operation. Its 2024 grant dollars went to recipients in California (30%), Washington, DC (23%), Florida (14%), Colorado (14%), and New York (8%).
Grant Distribution by State
Share of 2024 grant dollars across all 19 itemized grants.
States
Cities
Is Schmidt Ocean Institute open to new grantees?
56%
first-time grantees, 2024
In 2024, 9 of 16 grantees (56%) were first-time recipients. With only 16 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $11K; repeat grants $87K. How we count
Medians: $5K first-time, $100K repeat.
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $381K (2020) to $1.6M (2022). In 2024 it made 19 grants totaling $707K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Regents of the University of California Berkeley, CA | Seawater measurements to track ocean acidification | $180,000 |
| Marine Technology Society Inc Washington, DC | MATE ROV Competition | $100,000 |
| University of South Florida Foundation Inc Tampa, FL | To support university programs that broaden access to the OCEAN STEAM fields and related blue economy workforce | $100,000 |
| University Corporation for Atmospheric Research Boulder, CO | National Oceans Science Bowl 2024 | $99,831 |
| Nautilus Think Inc New York, NY | To produce original content on the UN Ocean Decade and ocean research | $50,000 |
| Marine Technology Society Inc Washington, DC | MATE ROV 2024 Competition and Championship | $50,000 |
| Mongabayorg Corporation Menlo Park, CA | Scientific Expeditions series | $35,000 |
| Fundacion TBA21 | UN Ocean Decade confeence | $34,000 |
| World Ocean Observatory Sedgwick, ME | World Ocean Explorer Exhibits 2024 | $15,000 |
| Marine Technology Society Inc Washington, DC | Marine Technology Society Sponsorship - Oceans (Global) Student Poster Competition | $6,000 |
Ready to take the next step with Schmidt Ocean Institute?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income |
|---|---|---|---|---|---|---|---|
| 2024 | $108,526,993 | $9,393,588 | $36,885,294 | $707,331 | 19 | $36,137,118 | $9,073,248 |
| 2023 | $137,324,185 | $78,308,682 | $33,544,543 | $456,059 | 14 | $39,886,527 | $3,298,348 |
| 2022 | $99,929,562 | $46,947,890 | $21,827,780 | $1,613,400 | 18 | $40,101,720 | — |
| 2021 | $66,311,505 | $21,984,878 | $29,637,350 | $546,000 | 8 | $64,612,816 | — |
| 2020 | $69,289,002 | $64,989,782 | $26,782,074 | $381,000 | 5 | — | — |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Institute’s mission is to combine advanced science and state-of-the-art technology to achieve lasting results in ocean research, catalyze information sharing, and communicate knowledge to audiences around the world. Its stated focus includes seagoing oceanographic research, marine technology development, robotic vehicles and scientific instruments, data analysis tools, and public engagement.
For research aboard Falkor (too), the Institute invites collaborative, multidisciplinary proposals and identifies priorities that include seafloor mapping, biodiversity, ocean health, and technology development. The Institute provides vessel access, facilities, equipment, and technical, operational, communications, and information services. Researchers are expected to secure resources for their research programs, including salaries, travel, shipping, and research analysis; limited support is available for certain platforms, instruments, shipboard computing, and open-source publication. Timely sharing of data and research outcomes, including real-time expedition research, is required.
Its 2024 grants also included education, scientific communication, and research-related activities. For example, the Marine Technology Society describes its own mission as advancing understanding of marine technology, related education, and responsible ocean use. The University of South Florida Foundation says its mission is to support education, research, learning, and information sharing at the university.
Grantmaking
The 2024 filing reports 19 grants totaling $707,331. Grants ranged from $500 to $180,000, with a median of $6,000. Notable awards included $180,000 to The Regents of the University of California for seawater measurements to track ocean acidification; $100,000 to the Marine Technology Society for the MATE ROV Competition; $100,000 to the University of South Florida Foundation for programs broadening access to ocean STEAM fields and the blue economy workforce; and $99,831 to the University Corporation for Atmospheric Research for the National Oceans Science Bowl 2024.
Other reported awards included $50,000 to Nautilus Think for original content on the UN Ocean Decade and ocean research, $35,000 to Mongabay.org Corporation for its Scientific Expeditions series, and $15,000 to World Ocean Observatory for World Ocean Explorer Exhibits 2024.
Leadership & Key People
Officers and directors from IRS filings
Schmidt Ocean Institute is led by Jyotika Virmani, Executive Director on every filing since 2020; 1 of 5 officers listed in 2024 is compensated.
Officers on the 2024 filing
Jyotika Virmani
Executive Director
On filings since 2020
40 hrs/week
$278K (2020) → $523K (2024)
Wendy Schmidt
Director & President
Director & Vice President → Director & President, 2023
On filings since 2020
2.5 hrs/week
No compensation reported
Eric Schmidt
Director & Vice President
Director & President → Director & Vice President, 2023
On filings since 2020
1 hr/week
No compensation reported
Frances Babb
Secretary
On filings since 2020
0.3 hrs/week
$22K (2021) → $0 (2024)
John Kelly
Treasurer & CFO
Treasurer & Chief Financial Officer → Treasurer & CFO, 2024
On filings since 2020
28 hrs/week
$201K (2020) → $0 (2024)
Former officers (1)
- Former: Stuart Feldman (2020) — Vice President & Research
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.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $523K, to Jyotika Virmani (Executive Director).
Frequently asked questions about Schmidt Ocean Institute
How much does Schmidt Ocean Institute give each year?
Schmidt Ocean Institute gave $707K across 19 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $456K across 14 grants.
What is Schmidt Ocean Institute's typical grant size?
Schmidt Ocean Institute's median grant in 2024 was $6,000, and its average grant was $37,228, across 19 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Schmidt Ocean Institute that year got $11K on average.
Where does Schmidt Ocean Institute give grants?
Schmidt Ocean Institute's top state is California, with 30% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were District of Columbia (23%) and Florida (14%). The most frequent recipient cities were Washington, DC (4 grants) and New York, NY (3 grants).
Does Schmidt Ocean Institute give general operating support?
Not in 2024: none of the 19 grants with a stated purpose on Schmidt Ocean Institute's 2024 IRS Form 990-PF were described as general or operating support.
Who are Schmidt Ocean Institute's largest grantees?
Schmidt Ocean Institute's largest 2024 grantees include The Regents of the University of California ($180,000), Marine Technology Society Inc ($156,000 across 3 grants) and University of South Florida Foundation Inc ($100,000), according to its 2024 IRS Form 990-PF. Together they received 62% of its itemized 2024 grant dollars.
How large is Schmidt Ocean Institute?
Schmidt Ocean Institute reported $108.5M in total assets on its 2024 IRS Form 990-PF. Its revenue that year was $9.4M.
What does Schmidt Ocean Institute fund?
The Institute’s mission is to combine advanced science and state-of-the-art technology to achieve lasting results in ocean research, catalyze information sharing, and communicate knowledge to audiences around the world. See mission & focus areas ↑
How do I apply for a grant from Schmidt Ocean Institute?
The Institute states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Schmidt Ocean Institute's EIN?
Schmidt Ocean Institute's EIN (Employer Identification Number) is 26-4562328. IRS Form 990 filing data is available on this page for 2020–2024.
Does Schmidt Ocean Institute accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Schmidt Ocean Institute funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/schmidt-ocean-institute-morg_5c6bf1fcd9944dedb4de2ff6ee9df78a
BibTeX
@misc{grantable_264562328_2026,
author = {{Grantable}},
title = {{Schmidt Ocean Institute funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/schmidt-ocean-institute-morg_5c6bf1fcd9944dedb4de2ff6ee9df78a},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Schmidt Ocean Institute's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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