The Rhea S Schwartz & Paul Martin Wolff
The Rhea S Schwartz & Paul Martin Wolff Foundation is a private family foundation established in December 1993 in the District of Columbia. Based in Chevy Chase, Maryland, the foundation is organized exclusively for charitable, educational, literary, and scientific purposes, with a primary focus on supporting art, legal, education, and service organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$652K
-11.3% YoY
Annual Giving
$119K
+2.5% YoY
Grant Count
38
+40.7% YoY
Avg Grant Size
$3K
-27.2% YoY
Mission & Focus Areas
The foundation's primary purpose is to provide support to charitable institutions with an emphasis on aiding art, legal, education, and service organizations. The foundation supports program initiatives, events, new building projects, and memorials.
Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation made 36 grants in 2024. Notable recent grants include:
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- Idaho
- District of Columbia
- New York
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2024):
- Total Assets: $652,344
- Total Revenue: $52,539
- Total Expenses: $135,565
- Number of Employees: 0
Prior Year Data (2023):
- Total Assets: $735,370
- Total Giving: $115,850
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $652,344 | $735,370 | $763,865 |
| Revenue | $52,539 | $102,654 | $142,409 |
| Expenses | $135,565 | $131,149 | $121,347 |
| Qualifying Distributions | $124,050 | $120,950 | $109,794 |
| Net Investment Income | $24,862 | $72,455 | $14,939 |
| Distributable Amount | $186,679 | $104,288 | $86,804 |
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
179 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Rhea S Schwartz – Chairman
- Paul Martin Wolff – President (BA, History, University of Wisconsin-Madison, 1963)
- Michael Levitt – Vice President
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RHEA S SCHWARTZ | CHAIRMAN | — | — |
| MICHAEL LEVITT | VICE PRESIDENT | — | — |
Recent News & Activity
Recent developments and announcements
The foundation has been active in establishing major educational initiatives:
**Penn State University Partnership (2020):** Rhea Schwartz and Paul Wolff became the most generous donors ever to Penn State's Division of Undergraduate Studies, establishing the largest endowed scholarship in the division's history through their $100,000 gift.
Alumna and spouse establish largest ever endowed scholarship in DUS | Penn**University of Wisconsin-Madison Fellowship (2022):** The Wolff Fellows program was launched as the first fellowship of its kind at UW-Madison, modeled after similar programs at Harvard University. The program empowers graduating seniors to pursue a year of travel, service, or study abroad without financial burden.
Benefactor creates first fellowship program for Liberal Arts graduating seniorsRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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