PALO ALTO, CA

Schmidt Ocean Institute

Quick Facts

EIN: 264562328
Location: PALO ALTO, CA
Category: Science & Technology
Total Assets: $108.5M
Annual Income: $32.8M
IRS Ruling Year: 2009
Organization Type: Corporation
Principal Officer: % John Kelly
Tax Deductibility: Contributions are deductible

About This Foundation

Schmidt Ocean Institute is a private corporation based in PALO ALTO, CA. The foundation received its IRS ruling in 2009. The principal officer is % John Kelly. It holds total assets of $108.5M. Annual income is reported at $32.8M. The foundation operates in the area of science & technology. Contributions to this foundation are tax-deductible.

View 990 Filings

Financial Overview

Total Giving

$33.5M

2023+54%

Total Assets

$137.3M

2023+37%

Fair Market Value

$137.3M

2023

Net Worth

$131.7M

2023

Grants Paid

$405K

2023

Contributions

$75M

2023

Net Investment Income

$3.3M

2023

Distribution Amount

2023

Total Giving by Year

$11.7M

$20.9M

$21.5M

$27.4M

$24.3M

$27.7M

$26.8M

$29.6M

$21.8M

$33.5M

Asset Growth

$87.7M

$63.1M

$92.5M

$65.3M

$57.6M

$29.4M

$69.3M

$66.3M

$99.9M

$137.3M

Investment Portfolio (2023)

Total: $34.4M

Corporate Stock: $34.4M

Cash: $447K

Corporate Stock (99%)

Cash (1%)

Expense Breakdown (2023)

Depreciation$7.9M

Pension & Benefits$1.4M

Travel & Conferences$905K

Officer Compensation$562K

Accounting Fees$553K

Grants Paid$405K

Occupancy$192K

Legal Fees$34K

Revenue Sources (2023)

Contributions: $75M
Capital Gains (Net): $2.6M
Dividends: $702K
Interest: $3K
Other Income: $-740

Financial Details (2023)

Total Revenue: $78.3M
Total Expenses: $33.5M
Exempt Purpose Expenses: $38.7M
Required Distribution: $0
Undistributed Income: $0
Grants Approved (Future): $5K
Total Liabilities: $5.7M
Excise Tax: $46K

Foundation Classification (2023)

Operating FoundationGrants to IndividualsNon-Charity GrantsLobbying ActivityExcess Business Holdings

Grantmaking Insights

Total Grants

Total Giving

$837K

Average Grant

$44K

Median Grant

$41K

Total Giving by Year

$381K (5 grants)

$456K (14 grants)

Grant Range

Min$2K

Max$150K

Median: $41K

Smallest grantLargest grant

Openness to New Grantees (2023)

93%

of 2023 grantees were first-time recipients

Geographic Distribution of Grants

ME: $15K (1)

WA: $5K (1)

NY: $110K (4)

RI: $59K (1)

NV: $2K (1)

PA: $41K (1)

CA: $140K (2)

CO: $112K (1)

DC: $162K (3)

FL: $100K (1)

HI: $85K (1)

DC$162K (3)

CA$140K (2)

CO$112K (1)

NY$110K (4)

FL$100K (1)

HI$85K (1)

Past Grantees

Recipient	Location	Amount	Year
University Corporation For Atmospheric ResearchNATIONAL OCEAN SCIENCES BOWL	Boulder, CO	$112K	2023
University Of South Florida Foundation IncFLORIDA INSTITUTE OF OCEANOGRAPHY PEERSIDE PROGRAM	Tampa, FL	$100K	2023
University Of Rhode IslandURI NOVEL APPROACHES TO ANALYZING GENETIC VARIATIONS AMONG SAMPLES	Kingston, RI	$59K	2023
Mate Inspiration For InnovationMATE INSPIRATION ROV COMPETITION	Monterey, CA	$50K	2023
Nautilusthink IncNAUTILUS OCEANS CHANNEL MAGAZINE 2023	New York, NY	$50K	2023
Lehigh UniversityLEHIGH NOVEL APPROACHES TO ANALYZING GENETIC VARIATIONS AMONG SAMPLES	Bethlehem, PA	$41K	2023
World Ocean ObservatoryWORLD OCEAN EXPLORER EXHIBITS	Sedgwick, ME	$15K	2023
Marine Technology Society IncMARINE TECHNOLOGY SOCIETY SPONSORSHIP OCEANS (GLOBAL) STUDENT POSTER COMPETITION	Washington, DC	$6K	2023
Map The GapsMAP THE GAPS SYMPOSIUM 2023	Seattle, WA	$5K	2023
Sustainable Markets FoundationINTERACTIVE DISPLAY TECHNOLOGY FOR COSTA RICA SCHOOL EXHIBIT	New York, NY	$5K	2023
Friends Of The Charles Darwin Foundation For The Galapagos IslandsCONNECTING THE GALAPAGOS COMMUNITY TO OUR OCEANS	Valhalla, NY	$5K	2023
University Of Puerto Rico MayaguezTO SUPPORT STUDENT PARTICIPATION IN RESEARCH CRUISE	Mayaguez	$5K	2023
Dri Research FoundationNETWORK FOR OCEAN WORLDS RETREAT	Reno, NV	$2K	2023
Geomar Helmholtz Centre For Ocean Research KielGEOMAR OCEAN VOLCANISM WORKSHOP 2023	—	$2K	2023
Consortium For Ocean LeadershipSEAWATER MEASUREMENTS TO TRACK OCEAN ACIDIFICATION	Washington, DC	$150K	2020
The Regents Of The University Of CaliforniaSEAWATER MEASUREMENTS TO TRACK OCEAN ACIDIFICATION	La Jolla, CA	$90K	2020
University Of Hawaii FoundationSCHOLARSHIP PROGRAM, SUMMER PROGRAM	Honolulu, HI	$85K	2020
Nautilusthink IncSUPPORT FOR PRODUCING ORIGINAL CONTENT FOR THE NAUTILUS OCEANS CHANNEL	New York, NY	$50K	2020
Marine Technology SocietyOCEANS (GLOBAL) 2020 STUDENT POSTER COMPETITION	Washington, DC	$6K	2020