Smidt Foundation

The Smidt Foundation is the philanthropic vehicle of Eric Smidt, founder and CEO of Harbor Freight Tools, the nation's largest value-priced tool retailer. Established in April 2017 (EIN 81-4631478, Beverly Hills, CA), the foundation grew from $99.7M in assets in FY2019 to $270M by FY2024 — fueled by massive capital contributions of $127.5M (FY2020) and $101.6M (FY2021) from Smidt personally. This is a high-conviction family foundation that reflects Eric Smidt's worldview: deep respect for skilled tradespeople, commitment to Los Angeles community wellbeing, veteran support, and a strong Jewish philanthropic identity.

The single most critical fact for any applicant: The foundation does not accept unsolicited funding proposals. Its small staff means all grantmaking is relationship-driven and invitation-based. The only structured open competition is the Harbor Freight Tools for Schools Prize for Teaching Excellence, which awards $2 million annually to 25 outstanding public high school skilled trades teachers.

For all other potential grantees, the typical relationship progression flows: (1) introduction through Los Angeles business networks, Jewish philanthropic circles, or existing Smidt grantees, (2) direct conversations with Eric Smidt or senior staff, (3) invitation to submit materials, (4) multi-year general operating support commitments. Evidence of multi-grant relationships is strong across the grantee list: the top 50 grantees averaged 2.1 grants each, and grantees like Anti-Defamation League, La Family Housing, and United Way Greater LA each received multiple grants over consecutive years.

Organizations most favored align with one or more of the foundation's four pillars: skilled trades education (national scope), Los Angeles-area community resilience (housing, health, workforce), veterans and first responders, and civil rights (particularly combating anti-Semitism and racial injustice). The Cedars-Sinai Smidt Heart Institute ($6M) and La Family Housing capital campaign ($4.24M) demonstrate the foundation's capacity for transformative multi-million-dollar commitments to long-term partners — suggesting relationship depth and organizational track record matter as much as mission alignment alone. First-time applicants should realistically expect to begin with smaller general operating support grants in the $50,000–$200,000 range before graduating to larger commitments.

The Smidt Foundation's total giving has grown substantially since its founding: FY2019 $11.4M; FY2020 $18.1M; FY2021 $9.5M (a dip likely reflecting portfolio transition); FY2022 $19.7M; FY2023 $26.9M (peak). FY2024 charitable disbursements were approximately $23M. The five-year compound growth rate from FY2019 to FY2023 is approximately 24% annually — a foundation in active expansion, deploying capital well above the mandated 5% private foundation minimum (FY2023 payout ratio was roughly 10% of assets).

The database records a median grant size of $35,000 and an average of $105,474 — the mean is heavily skewed by transformative anchor grants. The recorded range spans $1,500 (small program components) to $3M+ (Smidt Heart Institute: $6M across two grants). Among the top-50 grantees ($32.8M total across 283 grants):

• Healthcare: ~$6.3M (19%) — Cedars-Sinai Medical Center $6M, Martin Luther King Jr Community Health Foundation $275K
• Affordable housing and homelessness: ~$5.4M (16%) — La Family Housing $4.24M, United Way Greater LA $500K, Chrysalis Center $110K
• Skilled trades education: ~$4.0M (12%) — Port of LA High School $657K, SkillsUSA $310K, Alliance for Community Empowerment $306K, South Bay Workforce Investment Board $183K, ABC Unified School District $181K, LA Education Corps $176K, Career Technical Education Foundation (Sonoma) $225K
• Civil rights and social justice: ~$3.2M (10%) — Anti-Defamation League $1.55M, Public Counsel $320K, NAACP Legal Defense $310K, Equal Justice Initiative $100K
• Veterans and first responders: ~$2.1M (6%) — US Veterans Initiative $610K, Air Support Angels $422K, National Coalition for Homeless Veterans $210K, The Mission Continues $200K, LAFD Foundation $193K
• Youth and education: ~$2.3M (7%) — Big Picture Company Fellows Program $1.8M, City Year $205K, Alliance College-Ready Public Schools $205K
• Arts: ~$400K (1%) — Portland Art Museum (4 grants), an outlier suggesting personal connection to Oregon

The top 10 grantees by dollar volume claimed approximately $19.4M of the $32.8M total — roughly 59% of all dollars — indicating a highly concentrated portfolio around a handful of anchor relationships. Geography skews heavily toward California (130 of recorded grants), with New York (19), Washington DC (10), and Oregon (7) as secondary clusters.

The following table compares the Smidt Foundation to its four closest asset-size peers, all classified under NTEE code T (Philanthropy & Grantmaking) and holding assets within $5M of Smidt's $270M base:

The Smidt Foundation distinguishes itself from this peer group through the specificity and visibility of its mission. While Hagan Trust, Mercury Foundation, and Charles and Mary Heider Family Foundation categorize broadly under Philanthropy & Grantmaking with minimal public profiles, Smidt operates a nationally known flagship program (Harbor Freight Tools for Schools) with a public prize competition. Its FY2023 payout ratio of approximately 10% of assets is notably aggressive, well above the 5% private foundation minimum and likely above most undisclosed peers in this asset tier. The Cullen Foundation (Houston, TX) offers the closest structural analog — a founder-controlled foundation tied to an industrial business dynasty — but operates in a different region and sector. Smidt's sustained focus on a defined mission and multi-year grantee relationships gives it a more strategic posture than many comparable family foundations.

The Smidt Foundation's most recent IRS filing was submitted November 17, 2025 (covering FY2024). Total assets held at $269.9M, with investment income of $8.1M ($5.0M dividends, $3.1M interest) and charitable disbursements of approximately $23M — a modest step down from the FY2023 peak of $26.9M, consistent with lower investment returns rather than a strategic pullback.

FY2023 represented the foundation's most active grantmaking year on record, with 58 documented awards totaling $24.8M in grants paid. The Smidt Heart Institute commitment to Cedars-Sinai Medical Center ($6M across two grants) is the foundation's highest-profile named philanthropic legacy. La Family Housing received $4.24M across three grants (including a capital campaign and general operating support), reflecting a sustained commitment to affordable housing construction in the Los Angeles Harbor area.

The Harbor Freight Tools for Schools annual Prize for Teaching Excellence continues distributing $2M to 25 teachers nationally, with prizewinners joining the Let's Build It national convening network. The Harbor Freight Leadership Lab, launched in partnership with Bendable Labs, represents the foundation's newest programmatic layer — a workforce system-leadership initiative engaging public, private, union, and nonprofit sector leaders. Los Angeles County place-based programs running since 2021 have supported hundreds of students earning credentials in automotive technology, carpentry, construction, solar installation, and welding.

No public announcements of new strategic initiatives, leadership transitions, or priority changes were identified for 2025–2026. The most recent leadership change was Saba Yazdani's appointment as Secretary in September 2022. All officers continue to receive $0 compensation, consistent with a lean family foundation model.

This foundation does not accept unsolicited proposals. Every engagement strategy must begin with relationship cultivation. The following are specific, actionable tactics tailored to the Smidt Foundation's known operating style:

1. Target the one open competition first. The Harbor Freight Tools for Schools Prize for Teaching Excellence is the only publicly accessible opportunity. It is open to skilled trades teachers at U.S. public high schools. Awards are tiered: 3 first-place prizes at $100,000 ($70K to the school program, $30K to the teacher/team) and 15 second-place prizes at $50,000 ($35K to program, $15K to teacher). Schools in districts that prohibit individual prize receipt may apply solely on behalf of the school program. Contact Lee Condon at LCondon@HFTforschools.org for current cycle information.

2. Map your board and leadership to the Smidt network. Eric Smidt's professional life is centered in Los Angeles business (Harbor Freight Tools is headquartered in Calabasas, CA). Allan Mutchnik (Treasurer) is a prominent LA attorney. Jewish philanthropic networks — specifically organizations connected to Jewish Family Service of LA, Anti-Defamation League, and similar grantees — are warm paths. Identify any shared board members, advisors, or professional relationships.

3. Leverage existing grantee networks. California Community Foundation, Southern California Grantmakers, Coro Southern California, and United Way Greater LA have direct relationships with Smidt Foundation leadership. Introductions from program officers or board members at these organizations carry significant weight.

4. Use the foundation's language precisely. In introductory outreach, use terminology from the foundation's stated mission: "dignity of skilled labor," "opportunity, safety and wellbeing," "front-line organizations," "courageous nonprofits." Avoid academic or policy-heavy framing. The foundation favors direct-service organizations with demonstrated operational track records over advocacy or research organizations.

5. Lead with General Operating Support. GOS appears in the majority of grant purpose descriptions in the top-50 grantee dataset. Frame your request as building organizational capacity and sustainability — not a project budget. Capital campaign asks are appropriate only for established multi-year relationships with demonstrated construction or major asset needs.

6. Initial contact protocol. Email info@thesmidtfoundation.org with a brief 2-3 paragraph introduction: your mission, the Los Angeles (or relevant geographic) community you serve, and a specific sentence linking your work to one of the foundation's four pillars. Do not attach documents, proposals, or budgets. Wait for an invitation before sharing additional materials.

7. Plan for a multi-year timeline. Most top-50 grantees received 2+ grants. Expect that initial engagement may result in a smaller exploratory grant ($50K–$150K) before the foundation scales its commitment. Patience and consistent relationship maintenance are essential.