Theodore & Catherine Shulte Fdn
Theodore & Catherine Shulte Fdn is a private foundation, based in Madison, WI. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $744K in total assets. In 2025, it awarded 7 grants totaling $36K. Net investment income was $64K.
Theodore & Catherine Shulte Fdn at a glance
In short: Theodore & Catherine Shulte Fdn gave $36K across 7 grants in 2025 (avg $5K), mostly in Wisconsin. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $36,477
- +5.5% vs 2024
- Grants made (2025)
- 7
- -12.5% vs 2024
- Average grant
- $5,211
- +20.6% vs 2024
- Median grant
- $5,211
- Total assets
- $743,591
- +3.3% vs 2024
- Primary geography
- Wisconsin (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
Who Theodore & Catherine Shulte Fdn funds
How this funder distributes its grants
Grant Size Distribution
39 grants across all recorded years
The most common grant size was under $50K: 39 grants of 39 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 7 itemized grants.
States
Cities
How Theodore & Catherine Shulte Fdn gives
- Giving held roughly steady from 2022 to 2025 (−10%). Method
- In 2025 it paid out 91% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $35K (2024) to $41K (2022). In 2025 it made 7 grants totaling $36K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 7 grants to individuals Recipients not named | — | $36,477 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $743,591 | $73,143 | $49,174 | $36,477 | 7 | $39,473 | $64,212 | $43,558 |
| 2024 | $719,621 | $96,206 | $45,616 | $34,580 | 8 | $37,807 | $63,625 | $39,700 |
| 2023 | $691,772 | $9,403 | $47,584 | $37,528 | 8 | $40,536 | $7,814 | $37,586 |
| 2022 | $707,416 | $31,664 | $53,015 | $40,512 | 8 | $43,944 | $23,533 | $40,964 |
| 2021 | $728,899 | $47,194 | $47,315 | $35,872 | 8 | — | $39,129 | $43,922 |
Under IRS private-foundation payout rules, Theodore & Catherine Shulte Fdn reported a distributable amount of $44K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Theodore & Catherine Shulte Fdn's 2025 filing lists 2 officers; all 2 officers listed in 2025 are compensated.
Officers on the 2025 filing
Johnson Bank
Trustee
On filings since 2021
2 hrs/week
$10K (2021) → $10K (2025)
Wyant Law Offices Sc
Trustee
On filings since 2021
2 hrs/week
$693 (2021) → $55 (2025)
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $10K, to Johnson Bank (Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Theodore & Catherine Shulte Fdn
How much does Theodore & Catherine Shulte Fdn give each year?
Theodore & Catherine Shulte Fdn gave $36K across 7 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $35K across 8 grants.
What is Theodore & Catherine Shulte Fdn's typical grant size?
Theodore & Catherine Shulte Fdn's median grant in 2025 was $5,211, and its average grant was $5,211, across 7 grants on its 2025 IRS Form 990-PF.
Where does Theodore & Catherine Shulte Fdn give grants?
Theodore & Catherine Shulte Fdn gives mostly in Wisconsin: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Theodore & Catherine Shulte Fdn give general operating support?
Not in 2025: none of the 7 grants with a stated purpose on Theodore & Catherine Shulte Fdn's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Financial Support" (7 grants).
How large is Theodore & Catherine Shulte Fdn?
Theodore & Catherine Shulte Fdn reported $744K in total assets on its 2025 IRS Form 990-PF. It paid out $39K in qualifying distributions that year, against a required minimum of $44K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Theodore & Catherine Shulte Fdn's EIN?
Theodore & Catherine Shulte Fdn's EIN (Employer Identification Number) is 39-6222864. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS January 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS December 20, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS February 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 25, 2024)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS January 20, 2026)
- IRS filings on file for fiscal years 2021–2025
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