Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
SCHULTZ FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1329 N 47TH ST 31817
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SEATTLE, WA98103
A Employer identification number

91-1746414
B Telephone number (see instructions)

(206) 492-5420
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$375,194,129J Accounting method:
MODIFIED CASH
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 2,765,229 2,765,229  
4 Dividends and interest from securities... 8,744,309 8,744,309  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 119,334
b Gross sales price for all assets on line 6a 119,334
7 Capital gain net income (from Part IV, line 2)... 119,334
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
31,260 0 0
12 Total. Add lines 1 through 11........ 11,660,132 11,628,872 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 767,608 0 0 767,608
14 Other employee salaries and wages...... 2,690,353 182,875 0 2,507,478
15 Pension plans, employee benefits....... 474,606 0 0 474,606
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
29,727 14,374 0 15,353
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
126,974 36,214 0 90,760
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
718,438 0 0 718,438
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
186,475 0 0 0
19 Depreciation (attach schedule) and depletion... 10,209 0 0
20 Occupancy..............        
21 Travel, conferences, and meetings....... 174,201 0 0 174,201
22 Printing and publications.......... 99,164 0 0 99,164
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
481,106 0 0 481,106
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,758,861 233,463 0 5,328,714
25 Contributions, gifts, grants paid....... 13,860,000 13,860,000
26 Total expenses and disbursements. Add lines 24 and 25 19,618,861 233,463 0 19,188,714
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -7,958,729
b Net investment income (if negative, enter -0-) 11,395,409
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 290,379 63,899 63,899
2 Savings and temporary cash investments......... 67,684,498 50,868,319 50,868,319
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 55,490,945 Click to see attachment
List of Attached Documents:
// Content
57,550,617 		57,550,617
b Investments—corporate stock (attach schedule)....... 254,885,135 Click to see attachment
List of Attached Documents:
// Content
253,797,273 		253,797,273
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 10,825,000 Click to see attachment
List of Attached Documents:
// Content
12,350,000 		12,350,000
14 Land, buildings, and equipment: basis right arrow583,613
Less: accumulated depreciation (attach schedule) right arrow551,213 42,609 Click to see attachment
List of Attached Documents:
// Content
32,400 		32,400
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
500,705 		Click to see attachment
List of Attached Documents:
// Content
531,621 		Click to see attachment
List of Attached Documents:
// Content
531,621
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 389,719,271 375,194,129 375,194,129
Liabilities 17 Accounts payable and accrued expenses.......... 6,160 37,126
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 6,160 37,126
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 389,713,111 375,157,003
29 Total net assets or fund balances (see instructions)..... 389,713,111 375,157,003
30 Total liabilities and net assets/fund balances (see instructions). 389,719,271 375,194,129
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
389,713,111
2
Enter amount from Part I, line 27a .....................
2
-7,958,729
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
460,005
4
Add lines 1, 2, and 3 ..........................
4
382,214,387
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
7,057,384
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
375,157,003
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a ARIEL FUND INST'L CLASS P 2022-06-09 2023-11-21
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 119,334     119,334
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       119,334
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 119,334
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 0
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 158,396
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 158,396
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 158,396
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 185,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 185,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 26,604
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow26,604 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowWA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.SCHULTZFAMILYFOUNDATION.ORG
14
The books are in care ofright arrowRENEE RYAN COO & GEN COUNSEL Telephone no.right arrow (206) 492-5420

Located atright arrow1329 N 47TH ST 31817SEATTLEWA ZIP+4right arrow98103
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
SHERI KERSCH-SCHULTZ TRUSTEE
25.00 		0 0 0
1329 N 47TH ST 31817
SEATTLE,WA98103
HOWARD SCHULTZ TRUSTEE
5.00 		0 0 0
1329 N 47TH ST 31817
SEATTLE,WA98103
ADDISON SCHULTZ TRUSTEE
3.00 		0 0 0
1329 N 47TH ST 31817
SEATTLE,WA98103
VIVEK VARMA VICE CHAIR
25.00 		0 0 0
1329 N 47TH ST 31817
SEATTLE,WA98103
TYRA MARIANI PRESIDENT (THRU 09/2023)
38.00 		529,678 36,365 0
1329 N 47TH ST 31817
SEATTLE,WA98103
RENEE RYAN COO & GEN. COUNSEL
20.00 		237,930 13,689 0
1329 N 47TH ST 31817
SEATTLE,WA98103
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
DAVID HINSON MANAGING DIRECTOR
38.00 		384,992 42,405 0
1329 N 47TH ST 31817
SEATTLE,WA98103
NWANDO OBELE CHIEF LEARNING & IMP
38.00 		265,050 37,630 0
1329 N 47TH ST 31817
SEATTLE,WA98103
ZACK HUTSON CHIEF COMMUNICATIONS
28.00 		267,750 26,640 0
1329 N 47TH ST 31817
SEATTLE,WA98103
MARIE GROARK MANAGING DIRECTOR
38.00 		261,250 26,282 0
1329 N 47TH ST 31817
SEATTLE,WA98103
RAJIV CHANDRASEKARAN MANAGING DIRECTOR
30.00 		223,125 31,260 0
1329 N 47TH ST 31817
SEATTLE,WA98103
Total number of other employees paid over $50,000...................right arrow 11
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
BREAKWATER STUDIOS LLC COMMUNICATIONS CONSULTING 233,200
4655 KINGSWELL AVENUE
LOS ANGELES,CA90027
INFOGR8 LTD WEBSITE DESIGN SERVICES 128,500
SOHO WORKS WHITE CITY TV CTR 101
WOOD LANE
LONDON   W12 7FR
UK
A GREEN RESULTS OPERATIONS CONSULTING 116,063
304 OLD MARLBORO ROAD
CONCORD,MA01742
YOUR PART-TIME CONTROLLER LLC ACCOUNTANCY SERVICES 109,094
1500 WALNUT STREET SUITE 1200
PHILADELPHIA,PA19102
NICOLE DAVID INC STRATEGIC CONSULTING 93,500
200 PARK AVENUE SOUTH 8TH FLOOR
NEW YORK,NY10003
Total number of others receiving over $50,000 for professional services.............right arrow1
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 CONTINUED PROGRAMMATIC EFFORTS TO SUPPORT YOUTH TRANSITION TO ADULTHOOD INCLUDING THE LAUNCH OF THE 2024 AMERICAN OPPORTUNITY INDEX, BUILDING CAREER PATHWAYS THROUGH NATIONAL SERVICE AND ADVANCING YOUTH HOMELESSNESS PREVENTION STRATEGIES. 319,224
2 ACTIVITIES TO AMPLIFY GRANTEE PARTNERS, COMMUNICATE THE LAUNCH OF THE 2024 AMERICAN OPPORTUNITY INDEX AND WIDELY SHARE DIVERSION STRATEGIES TO PREVENT YOUTH HOMELESSNESS. 33,675
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
315,793,857
b
Average of monthly cash balances.......................
1b
61,926,673
c
Fair market value of all other assets (see instructions)................
1c
12,350,000
d
Total (add lines 1a, b, and c).........................
1d
390,070,530
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
390,070,530
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
5,851,058
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
384,219,472
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
19,210,974
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
19,210,974
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
158,396
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
158,396
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
19,052,578
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
19,052,578
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
19,052,578
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
19,188,714
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
19,188,714
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 19,052,578
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:2021, 2020, 2019 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 14,528,560
b From 2019...... 7,909,722
c From 2020......  
d From 2021...... 5,672,586
e From 2022...... 1,032,089
f Total of lines 3a through e ........ 29,142,957
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 19,188,714
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 19,052,578
e Remaining amount distributed out of corpus 136,136
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 29,279,093
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		14,528,560
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		14,750,533
10 Analysis of line 9:
a Excess from 2019.... 7,909,722
b Excess from 2020....  
c Excess from 2021.... 5,672,586
d Excess from 2022.... 1,032,089
e Excess from 2023.... 136,136
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
SHERI KERSCH-SCHULTZ
HOWARD SCHULTZ
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
MANAGING DIRECTOR
1329 N 47TH ST 31817
SEATTLE,WA98103
(206) 492-5420
INFO@SCHULTZFAMILYFOUNDATION.ORG
bThe form in which applications should be submitted and information and materials they should include:
A WRITTEN LETTER EXPLAINING THE REQUESTED GRANT.
cAny submission deadlines:
NO SUBMISSION DEADLINE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NO RESTRICTIONS
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

AMERICA NEEDS YOU

82 NASSAU ST 60358
NEW YORK,NY10038 		N/A PC FURTHER CHARITABLE GOALS 150,000

AMERICAN CORPORATE PARTNERS

2 GRAND CENTRAL TOWER 140 EAST 45TH
STREET SUITE 19A
NEW YORK,NY10017 		N/A PC FURTHER CHARITABLE GOALS 125,000

AMERICAN ENTERPRISE INSTITUTE

1789 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		N/A PC FURTHER CHARITABLE GOALS 200,000

AMERICA'S SERVICE COMMISSIONS

455 MASSACHUSETTS AVE NW SUITE 153
WASHINGTON,DC20001 		N/A PC FURTHER CHARITABLE GOALS 375,000

BACKPACK BRIGADE

1111 E MADISON STREET
SEATTLE,WA98199 		N/A PC FURTHER CHARITABLE GOALS 50,000

BARD COLLEGE

PO BOX 5000
ANNONDALE ON HUDSON,NY12504 		N/A PC FURTHER CHARITABLE GOALS 250,000

BLACK AMBITION

360 NW 27TH ST
MIAMI,FL33127 		N/A PC FURTHER CHARITABLE GOALS 110,000

BROTHERS FOR LIFE

270 SOUTH HANFORD STREET SUITE 207
SEATTLE,WA98134 		N/A PC FURTHER CHARITABLE GOALS 1,000,000

BURNING GLASS INSTITUTE

PO BOX 671
BALACYNWYD,PA19004 		N/A PC FURTHER CHARITABLE GOALS 625,000

CAMPAIGN FOR THE FAIR SENTENCING OF YOUTH

1319 F STREET NW SUITE 303
WASHINGTON,DC20004 		N/A PC FURTHER CHARITABLE GOALS 125,000

CAREERVILLAGE

1475 COLUMBIA CT
PALO ALTO,CA94304 		N/A PC FURTHER CHARITABLE GOALS 500,000

CODEPATH

5214F DIAMOND HTS BLVD UNIT 1154
SAN FRANCISCO,CA94131 		N/A PC FURTHER CHARITABLE GOALS 150,000

COMBINED ARMS

2929 MCKINNEY ST
HOUSTON,TX77003 		N/A PC FURTHER CHARITABLE GOALS 200,000

COMMUNITY ROOTS HOUSING FOUNDATION

1620 12TH AVE STE 205
SEATTLE,WA98122 		N/A PC FURTHER CHARITABLE GOALS 10,000

CORPORATE AMERICA SUPPORTS YOU VETJOBSCOM

10 STONE FALCON COURT
LAKE ST LOUIS,MO63367 		N/A PC FURTHER CHARITABLE GOALS 400,000

CREDIBLE MESSENGER MENTORING MOVEMENT

1200 U STREET NW
WASHINGTON,DC20009 		N/A PC FURTHER CHARITABLE GOALS 150,000

DOCTORS WITHOUT BORDERS

40 RECTOR ST 16TH FL
NEW YORK,NY10006 		N/A PC FURTHER CHARITABLE GOALS 30,000

EXALT YOUTH

17 BATTERY PLACE STE 307
NEW YORK,NY10004 		N/A PC FURTHER CHARITABLE GOALS 250,000

FARESTART

700 VIRGINIA STREET
SEATTLE,WA98101 		N/A PC FURTHER CHARITABLE GOALS 100,000

FOOD LIFELINE

815 S 96TH STREET
SEATTLE,WA981084934 		N/A PC FURTHER CHARITABLE GOALS 100,000

GLADIOLUS FOOD PANTRY INC

10511 GLADIOLUS DRIVE
FORT MEYERS,FL33908 		N/A PC FURTHER CHARITABLE GOALS 10,000

HAWAII COMMUNITY FOUNDATION

827 FORT STREET MALL
HONOLULU,HI98613 		N/A PC FURTHER CHARITABLE GOALS 30,000

HESPERUS

123 MAIN ST
SANTA FE,NM12345 		N/A PC FURTHER CHARITABLE GOALS 100,000

HIRE HEROES USA

1360 UNION HILL ROAD SUITE 2A
ALPHARETTA,GA30004 		N/A PC FURTHER CHARITABLE GOALS 400,000

HUMAN RIGHTS FOR KIDS

1250 CONNECTICUT AVE NW SUITE 700
WASHINGTON,DC20036 		N/A PC FURTHER CHARITABLE GOALS 10,000

INTERNATIONAL RESCUE COMMITTEE SEATTLE

1200 S 192ND STREET SUITE 100
SEATAC,WA98148 		N/A PC FURTHER CHARITABLE GOALS 20,000

JOBS FOR THE FUTURE

88 BROAD ST
BOSTON,MA02110 		N/A PC FURTHER CHARITABLE GOALS 50,000

JOIN FREEWORLD

410 EAST SANTA CLARA STREET UNIT
950
SAN JOSE,CA95113 		N/A PC FURTHER CHARITABLE GOALS 250,000

LAHUI FOUNDATION

PO BOX 138
KAHUKU,HI96731 		N/A PC FURTHER CHARITABLE GOALS 5,000

LIVING THROUGH GIVING FOUNDATION

12000 W PICO BLVD
LOS ANGELES,CA90064 		N/A PC FURTHER CHARITABLE GOALS 275,000

MANAGEMENT LEADERSHIP FOR TOMORROW

7201 WISCONSIN AVE SUITE 400
BETHESDA,MD20814 		N/A PC FURTHER CHARITABLE GOALS 100,000

MARY'S PLACE

1830 9TH AVENUE
SEATTLE,WA98101 		N/A PC FURTHER CHARITABLE GOALS 500,000

MAUI FOOD BANK

760 KOLU STREET
WAILUKU,HI96793 		N/A PC FURTHER CHARITABLE GOALS 10,000

MAUI HUMANE SOCIETY

PO BOX 1047
PUUNENE,HI96784 		N/A PC FURTHER CHARITABLE GOALS 5,000

MERCY CORPS

45 SW ANKENY STREET
PORTLAND,OR97204 		N/A PC FURTHER CHARITABLE GOALS 100,000

NATIONAL COUNCIL FOR BEHAVIORAL HEALTH

1400 K STREET NW SUITE 400
WASHINGTON,DC20005 		N/A PC FURTHER CHARITABLE GOALS 25,000

NATIONAL GOVERNORS ASSOCIATION CENTER FOR BEST PRACTICES

444 NORTH CAPITOL STREET SUITE 267
WASHINGTON,DC20001 		N/A PC FURTHER CHARITABLE GOALS 300,000

NEIGHBORHOOD TRUST FINANCIAL PARTNERS

530 W 166TH STREET 4TH FLOOR
NEW YORK,NY10032 		N/A PC FURTHER CHARITABLE GOALS 250,000

NEW HORIZONS MINISTRIES

2709 THIRD AVE
SEATTLE,WA98121 		N/A PC FURTHER CHARITABLE GOALS 25,000

NEW VENTURE FUND

1201 CONNECTICUT AVENUE NW SUITE
300
WASHINGTON,DC20036 		N/A PC FURTHER CHARITABLE GOALS 500,000

NEW YORK UNIVERSITY

25 WEST FOURTH STREET 4TH FLOOR
NEW YORK,NY100121119 		N/A PC FURTHER CHARITABLE GOALS 25,000

NORTHWEST HARVEST E M M

PO BOX 12272
SEATTLE,WA98102 		N/A PC FURTHER CHARITABLE GOALS 100,000

OPPORTUNITY AMERICA EDUCATIONAL FUND

737 EIGHTH STREET SE
WASHINGTON,DC20003 		N/A PC FURTHER CHARITABLE GOALS 600,000

PANORAMA GLOBAL

2101 4TH AVENUE SUITE 2100
SEATTLE,WA98121 		N/A PC FURTHER CHARITABLE GOALS 10,000

PHILANTHROPY FOR ACTIVE CIVIC ENGAGEMENT

611 PENNSYLVANIA AVE SE 372
WASHINGTON,DC20003 		N/A PC FURTHER CHARITABLE GOALS 25,000

PITCCH IN FOUNDATION

PO BOX 38
ALPINE,NJ07620 		N/A PC FURTHER CHARITABLE GOALS 100,000

POINT SOURCE YOUTH

215 PARK AVENUE SOUTH 11TH FLOOR
NEW YORK,NY10003 		N/A PC FURTHER CHARITABLE GOALS 275,000

PRECIOUS BLOOD MINISTRY OF RECONCILIATION

PO BOX 09379
CHICAGO,IL60609 		N/A PC FURTHER CHARITABLE GOALS 50,000

PROJECT BASTA

315 WEST 36TH STREET
NEW YORK,NY10018 		N/A PC FURTHER CHARITABLE GOALS 300,000

ROCKEFELLER PHILANTHROPY ADVISORS

6 WEST 48TH STREET 10TH FLOOR
NEW YORK,NY10036 		N/A PC FURTHER CHARITABLE GOALS 100,000

SEATTLE CHILDREN'S HOSPITAL FOUNDATION

PO BOX 5371 MS RC-507
SEATTLE,WA98145 		N/A PC FURTHER CHARITABLE GOALS 100,000

SEATTLE COLLEGES FOUNDATION

PO BOX 20069
SEATTLE,WA98102 		N/A PC FURTHER CHARITABLE GOALS 150,000

SERVE WASHINGTON

302 SID SNYDER AVE SW
OLYMPIA,WA985043113 		N/A GOV FURTHER CHARITABLE GOALS 140,000

SHRM FOUNDATION

1800 DUKE STREET
ALEXANDRIA,VA22314 		N/A PC FURTHER CHARITABLE GOALS 35,000

SILVER LINING MENTORING

727 ATLANTIC AVENUE 3RD FLOOR
BOSTON,MA02111 		N/A PC FURTHER CHARITABLE GOALS 25,000

SKILLUP COALITION

55 2ND STREET FLOOR 25
SAN FRANCISCO,CA941053491 		N/A PC FURTHER CHARITABLE GOALS 500,000

STILL SERVING VETERANS

626 CLINTON AVE W SUITE 200
HUNTSVILLE,AL35801 		N/A PC FURTHER CHARITABLE GOALS 100,000

STOLENYOUTH

PO BOX 296
SEATTLE,WA98111 		N/A PC FURTHER CHARITABLE GOALS 25,000

SYRACUSE UNIVERSITY

IVMF AT BARCLAY 150 CROUSE DRIVE
SYRACUSE,NY13244 		N/A PC FURTHER CHARITABLE GOALS 750,000

TEAM RUBICON

6171 CENTURY BLVD SUITE 310
LOS ANGELES,CA90045 		N/A PC FURTHER CHARITABLE GOALS 200,000

THE ANTI-RECIDIVISM COALITION

1320 E 7TH ST SUITE 260
LOS ANGELES,CA90021 		N/A PC FURTHER CHARITABLE GOALS 150,000

THE ASPEN INSTITUTE

2300 N STREET NW 700
WASHINGTON,DC200371122 		N/A PC FURTHER CHARITABLE GOALS 75,000

THE CENTURY FOUNDATION

ONE WHITEHALL STREET 15TH FLOOR
NEW YORK,NY10004 		N/A PC FURTHER CHARITABLE GOALS 35,000

THE MOCKINGBIRD SOCIETY

2100 24TH AVE S SUITE 240
SEATTLE,WA98144 		N/A PC FURTHER CHARITABLE GOALS 25,000

THE NATIONAL MENTORING PARTNERSHIP INC

201 SOUTH STREET SUITE 615
BOSTON,MA02111 		N/A PC FURTHER CHARITABLE GOALS 1,000

THRIVE SCHOLARS

75 FEDERAL STREET SUITE 1250
BOSTON,MA02110 		N/A PC FURTHER CHARITABLE GOALS 150,000

TREEHOUSE

2100 24TH AVENUE SOUTH SUITE 200
SEATTLE,WA981444643 		N/A PC FURTHER CHARITABLE GOALS 250,000

TSNE MISSION WORKS

89 SOUTH STREET SUITE 700
BOSTON,MA02111 		N/A PC FURTHER CHARITABLE GOALS 20,000

TURKISH PHILANTHROPY FUNDS

1460 BROADWAY
NEW YORK,NY10036 		N/A PC FURTHER CHARITABLE GOALS 30,000

UNITED SERVICE ORGANIZATION INC

PO BOX 96860
WASHINGTON,DC200777677 		N/A PC FURTHER CHARITABLE GOALS 500,000

UNITED WAY OF KING COUNTY

720 2ND AVE
SEATTLE,WA98104 		N/A PC FURTHER CHARITABLE GOALS 150,000

URBAN LEAGUE OF METROPOLITAN SEATTLE

105 14TH AVE SUITE 200
SEATTLE,WA98122 		N/A PC FURTHER CHARITABLE GOALS 20,000

WORKLIFE PARTNERSHIP

3513 BRIGHTON BLVD SUITE 489
DENVER,CO80216 		N/A PC FURTHER CHARITABLE GOALS 200,000

WORKMONEY FOUNDATION

790 N MILWAUKEE ST SUITE 300
MILWAUKEE,WI53202 		N/A PC FURTHER CHARITABLE GOALS 150,000

WORLD CENTRAL KITCHEN

1875 CONNECTICUT AVE NW 10TH FLOOR
WASHINGTON,DC20009 		N/A PC FURTHER CHARITABLE GOALS 30,000

YEAR UP

2607 2ND AVE
SEATTLE,WA98121 		N/A PC FURTHER CHARITABLE GOALS 66,000

YMCA OF GREATER SEATTLE

909 FOURTH AVE
SEATTLE,WA98104 		N/A PC FURTHER CHARITABLE GOALS 483,000

YOUTHCARE

2500 NE 54TH ST
SEATTLE,WA98105 		N/A PC FURTHER CHARITABLE GOALS 50,000
Total .................................right arrow 3a 13,860,000
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 2,765,229  
4 Dividends and interest from securities ....     14 8,744,309  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 119,334  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aFEDERAL EXCISE TAX REFUND 		    01 31,192  
bEMPLOYEE BENEFIT PLAN REFUNDS     01 68  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 11,660,132 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
11,660,132
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
1 PLEASE NOTE THAT THIS FILING DOES NOT REFLECT THE SCHULTZ FAMILY'S TOTAL FINANCIAL INVESTMENT IN PROJECTS SUPPORTING YOUTH TRANSITION TO ADULTHOOD AND OTHER CHARITABLE ACTIVITIES NOR ITS TOTAL RESPONSIVE GIVING. IN ADDITION TO DISTRIBUTIONS FROM THE SCHULTZ FAMILY FOUNDATION, ADDITIONAL FUNDING FROM THE SCHULTZ FAMILY IS DIRECTED THROUGH A DONOR ADVISED FUND. FOR MORE INFORMATION, PLEASE CONTACT THE SCHULTZ FAMILY FOUNDATION AT INFO@SCHULTZFAMILYFOUNDATION.ORG.
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
YOUR PART TIME CONTROLLER LLC 109,094 27,274 0 81,820
GRANT THORNTON, LLP 17,880 8,940 0 8,940

TY 2023 GeneralExplanationAttachment
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Identifier Return Reference Explanation
  FORM 990-PF, PART I, LINES 13-15 & PART VII, LINES 1-2: COST SHARING AGREEMENTALL INDIVIDUALS REPORTED ON THE SCHULTZ FAMILY FOUNDATION (THE "FOUNDATION") 2023 FORM 990-PF ARE EMPLOYED BY EMES PROJECT LLC ("EMES"). THE FOUNDATION AND EMES HAVE A FORMAL COST-SHARING AGREEMENT IN PLACE. TO THE EXTENT PROFESSIONAL SERVICES ARE PERFORMED BY EMPLOYEES OF EMES ON BEHALF OF THE FOUNDATION, THE FOUNDATION REIMBURSES EMES FOR THE COST OF THE FOUNDATION'S SHARE OF EMES' REASONABLE COSTS AND EXPENSES, BASED ON TIME INCURRED BY THE EMPLOYEES OF EMES, AT THE ACTUAL DIRECT AND INDIRECT COST OF SUCH PROFESSIONAL SERVICES PROVIDED BY EMES' EMPLOYEES TO THE FOUNDATION. EMES IS RESPONSIBLE FOR PAYMENT OF EXPENSES SUBJECT TO REIMBURSEMENT BY THE FOUNDATION. THE PROFESSIONAL SERVICES PROVIDED BY EMES' EMPLOYEES THAT ARE ALLOCABLE TO THE FOUNDATION ARE NECESSARY FOR CARRYING OUT THE FOUNDATION'S EXEMPT PURPOSES. THE COSTS OF SUCH PROFESSIONAL SERVICES SHALL INCLUDE REASONABLE COMPENSATION SUCH AS WEEKLY OR MONTHLY WAGES, BONUSES, EMPLOYEE BENEFITS SUCH AS MEDICAL INSURANCE, AND SIMILAR EXPENSES AS WELL AS ALL ASSOCIATED INDIRECT COSTS. AMOUNTS PAID UNDER THIS ARRANGEMENT IS REPRESENTED AT FAIR MARKET VALUE IN AN ARMS-LENGTH TRANSACTION.

TY 2023 InvestmentsCorpStockSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Name of Stock End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED STOCKS 253,797,273 253,797,273

TY 2023 InvestmentsGovtObligationsSch
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
US Government Securities - End of Year Book Value:

57,550,617
US Government Securities - End of Year Fair Market Value:

57,550,617
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2023 InvestmentsOtherSchedule2
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
PRIVATE CAPITAL INVESTMENTS FMV 12,350,000 12,350,000

TY 2023 LandEtcSchedule2
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
FURNITURE, FIXTURES, & EQUIPMENT 583,613 551,213 32,400 32,400


TY 2023 LegalFeesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PERKINS COIE, LLP 15,353 0 0 15,353
DLA PIPER 14,374 14,374 0 0


TY 2023 OtherAssetsSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
PROGRAM RELATED INVESTMENT 499,993 499,993 499,993
OTHER RECEIVABLES 712 1,628 1,628
INTANGIBLE ASSETS 0 30,000 30,000


TY 2023 OtherDecreasesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Description Amount
UNREALIZED LOSS ON INVESTMENTS 6,597,379
IN-KIND CONTRIBUTIONS 460,005


TY 2023 OtherExpensesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DIRECT CHARITABLE EXPENSE - PROGRAMMATIC 319,224 0 0 319,224
DIRECT CHARITABLE EXPENSE - COMMUNICATIONS 33,675 0 0 33,675
DUES & SUBSCRIPTIONS 95,065 0 0 95,065
SOFTWARE LICENSES 9,072 0 0 9,072
INSURANCE 19,832 0 0 19,832
FACILITIES 3,580 0 0 3,580
POSTAGE & MAIL 644 0 0 644
OFFICE SUPPLIES 14 0 0 14


TY 2023 OtherIncomeSchedule2
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
FEDERAL EXCISE TAX REFUND 31,192 0 0
EMPLOYEE BENEFIT PLAN REFUNDS 68 0 0


TY 2023 OtherIncreasesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Description Amount
IN-KIND CONTRIBUTIONS 460,005


TY 2023 OtherProfessionalFeesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STRATEGY CONSULTING 712,976 0 0 712,976
WEBSITE 5,462 0 0 5,462


TY 2023 TaxesSchedule
Name:
SCHULTZ FAMILY FOUNDATION
EIN:
91-1746414
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 186,475 0 0 0