The Eric and Wendy Schmidt Fund for Strategic Innovation
The Eric and Wendy Schmidt Fund for is a private foundation based in Palo Alto, California. Its 2024 filing describes direct activities in strategic studies, youth talent development, and technology for global challenges; its grants that year supported organizations and programs in areas including scientific research, education, technology, and public-interest initiatives.
Key facts about The Eric and Wendy Schmidt Fund for Strategic Innovation
In short: The Eric and Wendy Schmidt Fund for Strategic Innovation gave $244.1M across 379 grants in 2024 (avg $644K), top state Massachusetts. 58% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 46-3460261
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $244,068,458
- Grants made (2024)
- 379
- Average grant
- $643,980
- Median grant
- $100,000
- New grantees (estimate)
- 58% first-time grantees (98 of 170, 2024)
- Total assets
- $1,589,520,998
- Primary geography
- Massachusetts (23% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6B
+13.3% YoY
Annual Giving
$244.1M
+24.9% YoY
Grant Count
379
+63.4% YoY
Avg Grant Size
$644K
-23.5% YoY
Under IRS private-foundation payout rules, The Eric and Wendy Schmidt Fund for Strategic Innovation reported a distributable amount of $66.7M for 2024 — the minimum it must pay out in qualifying distributions.
Is The Eric and Wendy Schmidt Fund for Strategic Innovation open to new grantees?
58%
first-time grantees, 2024
In 2024, 98 of 170 grantees (58%) were first-time recipients. First grants averaged $427K; repeat grants $2.4M. How we count
Medians: $74K first-time, $782K repeat.
- 34% of 2024 grantees were also funded in 2023. Method
- Giving grew 584% from 2021 to 2024. Method
- In 2024 it paid out 478% of its IRS minimum distribution (the 5% rule). Method
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.
Mission & Focus Areas
The fund’s 2024 filing describes the Schmidt Special Competitive Studies Project as analyzing and recommending ways to strengthen America’s long-term competitiveness as artificial intelligence and other emerging technologies reshape national security, the economy, and society. It also describes RISE as a talent program for exceptional young people worldwide, and Technologists for Global Change as a program bringing together technologists to address challenges including climate, health, economic opportunity, and security.
Among its 2024 grantees, Convergent Research describes its work as developing and accelerating scientific and technological research and innovation in the public interest. Digital Harbor Foundation says it works on digital equity, diversity in technology, education, and technology for the public good. MIT describes its mission as advancing knowledge and educating students in science, technology, and other fields. These are the grantees’ descriptions of their own work.
Grantmaking
In 2024, the fund reported 379 grants totaling $244,068,458. Grants ranged from $1,000 to $12,500,000, with a median of $100,000. Earlier reported totals were $195,400,221 across 232 grants in 2023 and $99,681,591 across 183 grants in 2022.
Among the largest reported 2024 grants were $12,500,000 to The Rhodes Trust for general operating support; $10,442,000 to Kyutai for general support; $10,000,000 to the Barack Obama Foundation for the Obama Presidential Center; and $10,000,000 to Future House Inc for its AI Scientist Program. The filing also lists $8,000,000 to Convergent Research Inc for scientific-focused research and $6,094,431 to Digital Harbor Foundation to implement the Learning Engineering Virtual Institute. The Rhodes Trust received additional grants for the Rhodes Trust Science Fellowship and awards in the RISE program.
How to Apply
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
Ready to take the next step with The Eric and Wendy Schmidt Fund for Strategic Innovation?
Geographic Focus
Where this funder awards grants
In 2024, reported shares of grant dollars by recipient state included Massachusetts (23%), California (14%), New York (6%), and Illinois (5%). The filing also reports a 31% share for a state not identified in the available data. Listed recipients include organizations in Massachusetts, California, Illinois, Maryland, and New York, as well as The Rhodes Trust and Kyutai, for which no recipient location is provided.
Grant Distribution by State
Share of 2024 grant dollars across all 379 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $35.7M (2021) to $244.1M (2024). In 2024 it made 379 grants totaling $244.1M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Convergent Research Inc ($26.0M across 6 grants). Together the top 10 received $119.8M.
Organizations only. It also paid 154 grants to individuals ($32,668,095), which are not listed by name.
Grant Size Distribution
999 grants across all recorded years
The most common grant size was under $50K: 256 grants of 999 (26%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Rhodes Trust | General Operating Support | $12,500,000 |
| Kyutai | To Provide General Support | $10,442,000 |
| Barack Obama Foundation Chicago, IL | To Support the Obama Presidential Center | $10,000,000 |
| Future House Inc Sherborn, MA | To Provide Support for Futurehouse Ai Scientist Program | $10,000,000 |
| The Rhodes Trust | Support for Rhodes Trust Science Fellowship | $8,069,204 |
| Convergent Research Inc Cambridge, MA | To Provide Support for Scientific Focused Research | $8,000,000 |
| Convergent Research Inc Cambridge, MA | To Provide Support for Scientific Focused Research | $8,000,000 |
| 2 grants to individuals Recipients not named | — | $12,976,496 |
| Digital Harbor Foundation Inc Baltimore, MD | Support to Implement the Learning Engineering Virtual Institute | $6,094,431 |
| Massachusetts Institute of Technology Cambridge, MA | To Support Mit's Plasma Science and Fusion Center | $6,000,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grants | Grant count |
|---|---|---|
| 2024 | $244,068,458 | 379 |
| 2023 | $195,400,221 | 232 |
| 2022 | $99,681,591 | 183 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,589,520,998 | $1,402,995,349 | $1,117,749,688 |
| Revenue | $406,766,399 | $357,883,941 | $126,518,918 |
| Expenses | $313,041,582 | $374,652,875 | $186,060,464 |
| Qualifying Distributions | $318,839,462 | $254,695,590 | $160,588,690 |
| Net Investment Income | $429,746,940 | $312,740,880 | $158,793,633 |
| Distributable Amount | $66,738,646 | $54,195,961 | $67,865,333 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 15, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Eric Schmidt as president and director and Wendy Schmidt as director. Other listed officers and leaders are Gregg Goldman, chief financial officer through September 2024; Mandy Quach, treasurer; Frances Babb and Colette Haider, co-secretaries; Yll Bajraktari, chief executive officer of SCSP; John Redd, chief executive officer of SILC; Charles Giller, chief executive officer of AGOG; and Stuart Feldman, president of Schmidt Sciences.
The Eric and Wendy Schmidt Fund for Strategic Innovation is led by Yll Bajraktari, Chief Executive Officer - Scsp since 2024 (on filings since 2021); 3 of 10 officers listed in 2024 are compensated.
Officers on the 2024 filing
Yll Bajraktari
Chief Executive Officer - Scsp
Chief Executive Officer - Sscsp → CEO - Sscsp, 2023
CEO - Sscsp → Chief Executive Officer - Scsp, 2024
On filings since 2021
5 hrs/week
$176K (2021) → $0 (2024)
Charles Giller
Chief Executive Officer - Agog
On filings since 2023
40 hrs/week
$156K (2023) → $398K (2024)
John Redd
Chief Executive Officer - Silc
On filings since 2023
40 hrs/week
$312K (2023) → $344K (2024)
Stuart Feldman
President - Schmidt Sciences
New on the 2024 filing
40 hrs/week
$684K (2024)
Eric Schmidt
President & Director
On filings since 2020
1 hr/week
No compensation reported
Wendy Schmidt
Director
On filings since 2020
1 hr/week
No compensation reported
Frances Babb
Co-Secretary
Secretary → Co-Secretary, 2024
On filings since 2020
0.5 hrs/week
$57K (2020) → $0 (2024)
Mandy Quach
Treasurer
Acting Treasurer → Treasurer, 2021
On filings since 2020
0.5 hrs/week
$45K (2020) → $0 (2024)
Gregg Goldman
Chief Financial Officer
On filings since 2022
0.4 hrs/week
$9K (2022) → $0 (2024)
Colette Haider
Co-Secretary
New on the 2024 filing
0.5 hrs/week
No compensation reported
Former officers (4)
- Former: Eric Braverman (2020–2023) — Director
- Former: Kenneth Goldman (2020–2022) — Chief Financial Officer
- Former: Adam Marblestone (2021–2022) — Chief Executive Officer - Crllc
- Former: Anastasia K. Gamick (2021–2022) — Chief Operating Officer - Crllc
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 $684K, to Stuart Feldman (President - Schmidt Sciences). 3 officers or directors reported compensation on that filing.
Contact
Mailing address: 555 Bryant St 374, Palo Alto, CA 94301
Phone: (650) 461-8088
Frequently asked questions about The Eric and Wendy Schmidt Fund for Strategic Innovation
How much does The Eric and Wendy Schmidt Fund for Strategic Innovation give each year?
The Eric and Wendy Schmidt Fund for Strategic Innovation gave $244.1M across 379 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $195.4M across 232 grants.
What is The Eric and Wendy Schmidt Fund for Strategic Innovation's typical grant size?
The Eric and Wendy Schmidt Fund for Strategic Innovation's median grant in 2024 was $100,000, and its average grant was $643,980, across 379 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Eric and Wendy Schmidt Fund for Strategic Innovation that year got $427K on average.
Where does The Eric and Wendy Schmidt Fund for Strategic Innovation give grants?
The Eric and Wendy Schmidt Fund for Strategic Innovation's top state is Massachusetts, with 23% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were California (14%) and New York (6%). The most frequent recipient cities were New York, NY (21 grants), Cambridge, MA (19 grants), Washington, DC (16 grants) and Pasadena, CA (6 grants).
Does The Eric and Wendy Schmidt Fund for Strategic Innovation give general operating support?
Occasionally: 3% of The Eric and Wendy Schmidt Fund for Strategic Innovation's 2024 grants with a stated purpose (10 of 379) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Support of Israeli Post-Doc Program" (15 grants), "Support for Research of 2023 AI2050 Early Career Fellow" (10 grants) and "To Provide Support for Scientific Focused Research" (9 grants).
Who are The Eric and Wendy Schmidt Fund for Strategic Innovation's largest grantees?
The Eric and Wendy Schmidt Fund for Strategic Innovation's largest 2024 grantees include Convergent Research Inc ($25,963,482 across 6 grants), The Rhodes Trust ($20,569,204 across 2 grants) and California Institute of Technology ($14,061,469 across 6 grants), according to its 2024 IRS Form 990-PF. It also paid 154 grants to individuals ($32,668,095), which are not listed by name. Together they received 25% of its itemized 2024 grant dollars.
How large is The Eric and Wendy Schmidt Fund for Strategic Innovation?
The Eric and Wendy Schmidt Fund for Strategic Innovation reported $1.6B in total assets on its 2024 IRS Form 990-PF. It paid out $318.8M in qualifying distributions that year, against a required minimum of $66.7M (roughly 5% of its investment assets).
What does The Eric and Wendy Schmidt Fund for Strategic Innovation fund?
The fund’s 2024 filing describes the Schmidt Special Competitive Studies Project as analyzing and recommending ways to strengthen America’s long-term competitiveness as artificial intelligence and other emerging technologies reshape national security, the economy, and society. See mission & focus areas ↑
How do I apply for a grant from The Eric and Wendy Schmidt Fund for Strategic Innovation?
The foundation 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 The Eric and Wendy Schmidt Fund for Strategic Innovation's EIN?
The Eric and Wendy Schmidt Fund for Strategic Innovation's EIN (Employer Identification Number) is 46-3460261. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Eric and Wendy Schmidt Fund for Strategic Innovation 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.
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