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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
John and Julie Schmidt Family Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

84-3036130
B Telephone number (see instructions)

(800) 839-1754
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$24,651,639J Accounting method:
 
(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) 10,002,011
2 Check right arrow.............
3 Interest on savings and temporary cash investments 216,947 216,947  
4 Dividends and interest from securities... 268,509 268,509  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 352,664
b Gross sales price for all assets on line 6a 5,171,867
7 Capital gain net income (from Part IV, line 2)... 608,934
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).......      
12 Total. Add lines 1 through 11........ 10,840,131 1,094,390  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
40,851 40,851    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
7,200      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
49,525 1   49,524
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 97,576 40,852   49,524
25 Contributions, gifts, grants paid....... 571,197 571,197
26 Total expenses and disbursements. Add lines 24 and 25 668,773 40,852   620,721
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 10,171,358
b Net investment income (if negative, enter -0-) 1,053,538
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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.............      
2 Savings and temporary cash investments......... 3,685,643 7,370,349 7,370,349
3 Accounts receivable right arrow1,410
Less: allowance for doubtful accounts right arrow     1,410 1,410
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) 343,304 Click to see attachment
List of Attached Documents:
// Content
49,056 		49,857
b Investments—corporate stock (attach schedule)....... 6,174,632 Click to see attachment
List of Attached Documents:
// Content
11,314,184 		13,597,799
c Investments—corporate bonds (attach schedule)....... 1,990,180 Click to see attachment
List of Attached Documents:
// Content
3,630,118 		3,632,224
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)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 12,193,759 22,365,117 24,651,639
Liabilities 17 Accounts payable and accrued expenses..........    
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)......... 0 0
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 12,193,759 22,365,117
29 Total net assets or fund balances (see instructions)..... 12,193,759 22,365,117
30 Total liabilities and net assets/fund balances (see instructions). 12,193,759 22,365,117
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
12,193,759
2
Enter amount from Part I, line 27a .....................
2
10,171,358
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
22,365,117
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
22,365,117
Form 990-PF (2024)
Form 990-PF (2024)
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 Publicly-traded Securities      
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 5,171,867   4,562,933 608,934
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       608,934
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 2 608,934
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  
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 14,644
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  
3 Add lines 1 and 2........................... 3 14,644
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 14,644
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 58
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 14,900
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 14,958
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
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 10 314
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow314 Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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 arrowDE
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 2024 or the taxable year beginning in 2024? 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 arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
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 2024, 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 (2024)
Form 990-PF (2024)
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)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
 
 
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
Greg Groggel VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Soyona Rafatjah VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Julie A Schaller-Schmidt Co- Pres, Dir, Sec, Treas
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Chelsea Schmidt VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Daniel Schmidt VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
John A Schmidt Dir, Co- Pres
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Luke Schmidt VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Samuel Schmidt VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Zachary Schmidt VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
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
 
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
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
 
Total number of others receiving over $50,000 for professional services.............right arrow  
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  
2  
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 arrow  
Form 990-PF (2024)
Form 990-PF (2024)
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
13,036,614
b
Average of monthly cash balances.......................
1b
4,286,142
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
17,322,756
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
17,322,756
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
259,841
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
17,062,915
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
853,146
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
853,146
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
14,644
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
14,644
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
838,502
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
838,502
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
838,502
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
620,721
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
620,721
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 838,502
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020...... 173,893
c From 2021...... 218,902
d From 2022...... 247,845
e From 2023...... 1,398,312
f Total of lines 3a through e ........ 2,038,952
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 620,721
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 620,721
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 217,781 217,781
(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 1,821,171
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		1,821,171
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021.... 175,014
c Excess from 2022.... 247,845
d Excess from 2023.... 1,398,312
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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).)
John A Schmidt
Julie A Schaller-Schmidt
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
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

APPLETON COMMUNITY MUSIC INC

PO BOX 1674
APPLETON,WI54912 		N/A PC General & Unrestricted 10,000

BASIC NEEDS GIVING PARTNERSHIP INC

340 N BROADWAY STE 450
GREEN BAY,WI54303 		N/A PC General & Unrestricted 50,000

BEAMING INCORPORATED

2692 COUNTY RD GG
NEENAH,WI54956 		N/A PC General & Unrestricted 2,500

BOY SCOUTS OF AMERICA

PO BOX 267
APPLETON,WI54912 		N/A PC General & Unrestricted 5,000

BOYS & GIRLS CLUB FOX VALLEY INC

160 S BADGER AVE
APPLETON,WI54914 		N/A PC to support Great Futures 20,000

CHILDREN'S TUMOR FOUNDATION

PO BOX 7247 MAILCODE 6895
PHILADELPHIA,PA19170 		N/A PC General & Unrestricted 1,000

COMBONI MISSIONARIES OF THE HEART OF JESUS INC

1318 NAGEL RD
CINCINNATI,OH45255 		N/A PC To be used at Napenda Kuishi-Ongata Rongai, Kenya 5,000

COMMUNITY BENEFIT TREE INC

W1734 KEN DALE DR
KAUKAUNA,WI54130 		N/A PC Charitable Event 5,000

COTS INC

819 S W AVE
APPLETON,WI54915 		N/A PC General & Unrestricted 25,000

CYSTIC FIBROSIS FOUNDATION

20 TRAFALGAR SQ SUITE 447
NASHUA,NH03063 		N/A PC General & Unrestricted 5,000

FIRST CONGREGATIONAL UNITED CHURCH OF CHRIST

724 E SOUTH RIVER ST
APPLETON,WI54915 		N/A PC General & Unrestricted 100,000

FOX CITIES PERFORMING ARTS CENTER INC

400 W COLLEGE AVE
APPLETON,WI54911 		N/A PC General & Unrestricted 12,000

FOX VALLEY LITERACY COUNCIL INC

130 E FRANKLIN ST
APPLETON,WI54911 		N/A PC General & Unrestricted 5,000

FRIENDS OF APPLETON LIBRARY INCORPORATED

PO BOX 1971
APPLETON,WI54912 		N/A PC General & Unrestricted 500

INFANT WELFARE CIRCLE INC

231 W FRANKLIN ST
APPLETON,WI54911 		N/A PC General & Unrestricted 1,000

KENYA WORKS INC

PO BOX 1572
APPLETON,WI54912 		N/A PC General & Unrestricted 50,600

KENYA WORKS INC

PO BOX 1572
APPLETON,WI54912 		N/A PC Education Works Scholarship Fund 3,450

MUSIC THAT MATTERS INC

PO BOX 2577
APPLETON,WI54912 		N/A PC General & Unrestricted 25,000

NATIONAL TUBEROUS SCLEROSIS ASSOCIATION INC

801 ROEDER RD STE 750
SILVER SPRING,MD20910 		N/A PC General & Unrestricted 5,000

NORTHEAST WISCONSIN LAND TRUST INC

14 TRI PARK WAY STE 1
APPLETON,WI54914 		N/A PC General & Unrestricted 10,000

RIVERVIEW GARDENS INC

1101 S ONEIDA ST
APPLETON,WI54915 		N/A PC General & Unrestricted 65,650

SOAR FOX CITIES INC

211 E FRANKLIN ST SUITE A
APPLETON,WI54911 		N/A PC General & Unrestricted 5,000

TROUT MUSEUM OF ART INC

111 W COLLEGE AVE
APPLETON,WI54911 		N/A PC Charitable Event 5,000

TROUT MUSEUM OF ART INC

111 W COLLEGE AVE
APPLETON,WI54911 		N/A PC Capital Campaign for New Museum 50,000

TROUT MUSEUM OF ART INC

111 W COLLEGE AVE
APPLETON,WI54911 		N/A PC Charitable Event 5,000

US VENTURE ASSOCIATES CARING TOGETHER FUND INC

425 BETTER WAY
APPLETON,WI54915 		N/A PC General & Unrestricted 10,000

VALLEY PACKAGING INDUSTRIES INC

2350 N CASALOMA DR
APPLETON,WI54913 		N/A PC Capital Campaign 25,000

VICTORY COMMUNITY DEVELOPMENT CENTRE (VICODEC)

PO BOX 2768
NAIROBI,NAIROBI MUNICIPAL00200
KE 		N/A PC General & Unrestricted 64,497
Total .................................right arrow 3a 571,197
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		    14 216,947  
4 Dividends and interest from securities ....     14 268,509  
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 ............ 		    18 352,664  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   838,120  
13Total. Add line 12, columns (b), (d), and (e)..................
13
838,120
(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.)
Form 990-PF (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
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Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
John and Julie Schmidt Family Foundation
 
Employer identification number

84-3036130
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
John and Julie Schmidt Family Foundation
  		Employer identification number
84-3036130
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Schmidt John A
212 N Green Bay Rd
 
Appleton, WI54911

$ 10,002,011


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
John and Julie Schmidt Family Foundation
  		Employer identification number

84-3036130
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 FIDELITY MSCI HEALTH CARE INDEX FHLC, 789.421 sh. $ 58,249 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 DIMENSIONAL INTERNATIONAL VAL ETF DFIV, 2998.875 sh. $ 111,933 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 FIDELITY BLUE CHIP GROWTH ETF FBCG, 1642.363 sh. $ 65,653 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 VANGUARD DIVIDEND APPRECIATION ETF VIG, 1120.025 sh. $ 217,008 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 ISHARES CORE MSCI EAFE ETF IEFA, 1825.529 sh. $ 138,197 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 ISHARES TR S & P MIDCAP 400 INDEX FD IJH, 725.95 sh. $ 43,724 2024-09-04
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
John and Julie Schmidt Family Foundation
  		Employer identification number

84-3036130
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 DIMENSIONAL US CORE EQUITY 2 ETF DFAC, 12057.049 sh. $ 398,365 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 VANGUARD MID-CAP VALUE INDEX VOE, 1230.357 sh. $ 200,198 2024-09-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
John and Julie Schmidt Family Foundation
  		Employer identification number

84-3036130
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


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TY 2024 DepreciationSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

TY 2024 InvestmentsCorpBondsSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Name of Bond End of Year Book Value End of Year Fair Market Value
AGILENT TECHNOLOGIES INC NT - 94,212 97,277
ALABAMA PWR CO - 2.800% - 04/0 37,919 34,818
AMEREN CORP NOTE - 1.950% - 03 90,450 93,994
AMERICAN WTR CAP CORP NOTE - 3 96,909 96,164
AVERY DENNISON CORP SR NOTE - 125,766 124,038
BANK FIVE NINE OCONOMOWOC - 4. 49,613 50,340
BIO RAD LABS INC - 3.300% - 03 116,976 116,084
CAMPBELL SOUP CO NOTE CALL MAK 97,840 97,608
CANADIAN PAC RY CO - 3.700% - 96,277 98,639
CARLISLE 3.75% 12/01/2027 - 3. 93,532 97,334
COCA COLA CONS INC NOTE - 5.25 102,214 101,337
DOVER CORP - 3.150% - 11/15/20 96,157 98,585
DTE ENERGY CO - 1.050% - 06/01 60,263 63,997
DUKE ENERGY CORP - 4.850% - 01 100,100 100,310
FORBRIGHT BK POTOMAC MD - 5.05 39,972 40,548
GENERAL MILLS INC - 5.500% - 1 51,988 51,039
GENERAL MLS INC - 4.200% - 04/ 98,716 97,918
HUBBELL INC - 3.150% - 08/15/2 151,917 153,173
HUBBELL INC - 3.350% - 03/01/2 44,828 39,346
IDEANOMICS INC - 4.950% - 09/0 107,443 104,544
INGREDION INC - 3.200% - 10/01 96,737 97,214
JPMORGAN CHASE BK N A CD 0.600 48,836 47,560
KENDALL BK OVERLAND PD KANS CD 64,538 65,020
LABORATORY CORP OF AMER - 3.60 39,169 34,962
LENNOX INTL INC - 5.500% - 09/ 46,904 45,734
MONDELEZ INTL INC - 0.000% - 0 129,680 129,525
MORGAN STANLEY BK CD - 5.400% 100,043 101,080
MORGAN STANLEY PRIVATE BK NATL 100,000 100,460
NEWTEK BK NATL ASSN MIAMI FLA 200,000 201,140
NORTHROP GRUMMAN CORP - 4.600% 128,262 128,929
NSTAR ELEC CO - 2.700% - 06/01 95,087 97,259
QUEST DIAGNOSTICS INC NT - 3.5 62,805 64,771
RAYTHEON TECHNOLOGIES CORP - 3 37,330 38,602
ROPER TECHNOLOGIES INC - 1.000 93,661 97,561
SHERWIN WILLIAMS CO NOTE CALL 30,242 26,795
TELEDYNE TECHNOLOGIES INC - 2. 92,956 92,075
UNITED STATES TREAS BILLS - 0. 248,251 249,440
VALSPAR CORP NOTE CALL MAKE WH 27,203 24,957
VERIZON COMMUNICATIONS - 4.125 56,978 59,317
WEC ENERGY GROUP INC - 4.750% 99,604 99,777
XYLEM INC - 3.250% - 11/01/202 38,912 38,989
ZOETIS INC - 4.500% - 11/13/20 39,828 33,964

TY 2024 InvestmentsCorpStockSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Name of Stock End of Year Book Value End of Year Fair Market Value
3M CO 22,363 37,104
ABBOTT LABS 52,115 53,312
ABBVIE INC 98,546 114,597
ABERCROMBIE & FITCH 7,066 16,890
ACCENTURE PLC 34,856 36,416
ADDUS HOMECARE CORP 6,897 6,894
ADMA BIOLOGICS INC 8,368 19,894
ADOBE SYSTEMS, INC 45,294 33,796
ADVANCED MICRO DEVICES INC 27,044 21,863
ALERUS FINANCIAL CORPORATION 5 4
ALEXANDER'S INC 21,821 18,149
ALLIED MOTION TECHNOLOGIES 12,902 12,261
ALLOGENE THERAPEUTICS INC 5,472 5,037
ALLSTATE CORPORATION PFD 7.37 3,683 3,567
ALLSTATE PFD SER H 4,718 4,420
ALPHA AND OMEGA SEMICONDUCTOR 12,162 14,108
ALPHABET INC CL A 301,145 418,353
ALPHABET INC CL C 18,511 26,731
ALTRIA GROUP INC 27,480 31,640
AMAZON COM 291,716 421,229
AMERICAN EAGLES OUTFITTERS INC 14 12
AMERICAN ELECTRIC POWER INC 59,853 60,395
AMERICAN EXPRESS CO 38,743 58,530
AMERICAN WATER WORKS COMPANY I 20,578 19,540
AMERIPRISE FINANCIAL INC 26,328 40,526
AMGEN INC 31,747 31,954
APOGEE ENTERPRISES, INC 16,141 13,496
APPFOLIO INC CLASS A 10,330 10,609
APPLE INC 433,178 614,537
APPLIED IDNS TECH 154 193
APPLIED MATERIALS INC 70,135 71,504
ARCHER AVIATION ORD SHS CLASS 3,921 5,265
ARISTA NETWORKS 62,751 85,329
ARTISAN PARTNERS ASSET MANAGEM 33 31
ARVINAS ORD SHS 10,775 9,489
ASSOCIATED BANC CORP PFD E - 5 50,993 41,287
ASSURANT INC 11,633 13,647
AT & T INC 5.000% PFD SER A 1,228 1,178
AT&T DEPO SHA REP 1000 PREFERR 7,060 6,749
AT&T, INC 41,622 48,721
ATHENE HLDG LTD 5.625% PFD SER 622 575
ATHENE HOLDING 1000 DEPOSITARY 1,908 1,905
ATHENE HOLDING DS REPRESENTING 1,862 1,784
ATHPRA 1,899 1,851
AUTOMATIC DATA PROCESSING INC 26,086 30,163
AVERY DENNISON CORP 65 56
BADGER METER, INC 14,679 19,008
BANK AMER DS PFD SER KK 4,283 4,058
BANK AMERICA CORPORATION PERP 10,468 10,425
BANK NEW YORK MELLON CORP COM 35,525 46,285
BANK OF AMER CORP 4.125% PREFE 2,736 2,618
BANK OF AMER CORP 4.750% SERIE 2,792 2,642
BANK OF AMERICA CORP 60,811 77,924
BANK OF AMERICA CORP PFD 2,033 2,004
BANK OF AMERICA CORP PFD - 4.2 3,134 2,976
BANK OF MARIN BANCORP 12,575 14,039
BECTON DICKINSON & CO 43,444 42,151
BELLRING BRANDS, INC 15,252 25,691
BERKLEY W R CP 18,404 15,937
BJ'S WHLSL CLUB INC 10,187 11,884
BLACKROCK INC 78,778 103,936
BOOZ ALLEN HAMILTON HOLDING CO 96 84
BOSTON PPTYS INC 13,790 14,321
BOSTON SCIENTIFIC 19,766 23,848
BRIGHTHOUSE FINL INC 1,061 983
BRIGHTHOUSE FN IN 5.375% 2,601 2,450
BRINKER INTL INC 9,835 9,789
BRISTOL-MYERS SQUIBB CO 14,201 14,875
BROADCOM INC 98,719 187,652
BROADRIDGE FINANCIAL 21,172 22,157
CACI INTL INC 20,773 24,244
CADENCE DESIGN SYSTEMS INC 28,533 30,046
CALIFORNIA WATER SVC 24 21
CAPITAL GROUP INTERNATIONAL FO 364,160 374,885
CAPITAL ONE FINANCIAL CORP 4.3 3,393 3,057
CAPITAL ONE FINCL CORP 5.000% 4,076 3,747
CAPITAL ONE FINL DS REPRESENTI 4,661 4,339
CARDINAL HEALTH INC 15,752 17,078
CARPENTER TECH 8,560 9,349
CARVANA CO. 17,718 19,929
CASEY'S GENERAL STORES, INC 42,943 53,705
CATERPILLAR INC 103,527 123,160
CELANESE CORPORATION 64 57
CFG CMNTY BK LUTHERVILLE MD CD 69,391 69,979
CHEVRON CORP 46,637 44,094
CHOICEONE FINL SVCS INC COM 24,530 27,533
CHS INC - PFD CLASS B 60,196 58,399
CHURCH & DWIGHT 15,873 16,590
CINTAS CRP 62,429 64,493
CISCO SYSTEMS INC 76,823 86,017
CITIGROUP INC 22,860 27,532
CITIZENS FINANCIAL GROUP, 7.37 2,623 2,522
CITIZENS FINANCIAL GROUP, INC 14,050 18,867
CITY HOLDING COMPANY 11,333 13,665
CLAROS MORTGAGE TRUST INC 14,919 7,814
CMS ENERGY CORPORATION 1,432 1,365
COEUR MINING 4,858 4,376
COLGATE-PALMOLIVE COMPANY    
COLONY BANKCORP, INC. 12,010 17,705
COMCAST CORP 41,204 34,674
COMFORT SYSTEMS USA INC 12,681 16,136
CONOCOPHILLIPS 92,500 93,676
CONSOLIDATED WATER CO. LTD. 5 6
COSTCO WHOLESALE CORPORATION 53,531 81,996
COURSERA 6,804 3,587
CREDO TECHNOLOGY GROUP HOLDLIN 11,486 11,090
CROWN CASTLE INTL 24,958 18,009
CSX CORP 45,062 42,919
CVS CAREMARK CORP 80 53
DANAHER CORP 40,564 41,806
DIMENSIONAL INTERNATIONAL VAL 442,431 451,994
DIMENSIONAL US CORE EQUITY 2 E 2 2
DOW INC 39,463 28,997
DRS TECHNOLOGIES INC 9,995 11,373
DU PONT DE NEMOURS 24,925 23,137
DUKE ENERGY DRC 6,672 6,461
DUOLINGO 7,532 10,700
DYNEX CAPITAL INC REIT 23,128 23,577
E.L.F. BEAUTY, INC. 13,388 13,936
EASTMAN CHEMICAL CO 29,992 28,418
ECOLAB INC 30 29
EDGEWELL PERSONAL CARE COMPANY 7,658 6,410
ELEVANCE HEALTH INC 185 127
ELI LILLY & CO 94,883 154,147
EMCOR GROUP INC 66,715 99,287
EMERSON ELECTRIC CO 21,120 20,478
ENCOMPASS HEALTH CORPORATION 92 90
ENERGY FUELS INC 12,096 11,060
EQUITABLE HLDGS DRC 2,589 2,350
EQUITABLE HOLDINGS INC PFD SER 2,571 2,312
EQUITY BANCSHARES INC CL A    
EQUITY LIFESTYLE PRP 43 42
EVERQUOTE INC 6,641 6,657
EVERTEC INC 8,358 8,470
EXTRA SPACE STORAGE 162 178
EXXON MOBIL CORP 111,426 125,351
FA INTERNATIONAL GROWTH FUND - 363,089 375,914
FABRINET INC 14,685 14,512
FASTLY INC 7,680 9,025
FIDELITY NATIONAL FINANCIAL IN 19,009 22,738
FIFTH THIRD BANCORP 38,990 48,233
FINANCIAL INSTITUTIONS, INC 10 11
FISERV, INC 17,265 25,267
FITB - 6.625% - PFD SER 1 6,541 6,431
FIVE9 INC 8,711 8,656
FORD MOTOR COMPANY 20,510 16,745
FORTINET INC 37,756 43,272
FULTON FIN CORP 7 7
G III APPAREL GRP LTD 6,107 6,328
GALLAGHER ARTHUR J & CO 70,960 96,791
GAMING AND LEISURE PROPERTIES, 17,757 17,493
GATX CORP INC 35 41
GEN DYNAMICS CP 54,122 61,254
GILEAD SCIENCES INC 17,644 20,348
GITLAB INC 18,494 18,088
GRAPHIC PACKAGING CORP COM STK 15,238 16,059
GRAY TELEVISION INC CL B 5 3
GREENBRIER CO INC 11,044 9,880
GUARANTY BANCSHARES INC 6,604 6,511
HAEMONETICS CP 11,170 10,072
HARTFORD FINANCIALSERVICES GRO 30,890 39,840
HCA INC 244 178
HCC INS HLDGS INC 14 13
HEALTH CATALYST ORD SHS 13,062 11,687
HEALTHEQUITY INC 13,516 17,463
HEALTHPEAK PROPERTIES, INC 33,262 33,036
HEALTHSTREAM INC 9,457 10,973
HECLA MINING CO 4,726 4,120
HEWLETT PACKARD ENTERPRISE CO 3 3
HOME DEPOT INC 152,660 174,054
HONEYWELL INTL 206 211
HOWMET AEROSPACE ORD SHS 36,076 40,609
HUNTINGTON BANCSHARES INC 20,039 24,545
HUNTINGTON BANCSHARES INC 6.87 1,942 1,906
HUNTINGTON BANCSHARES, SERIES 2,423 3,151
HYSTER YALE MATERIALS HANDLING 7 7
ICF INTERNATIONAL, INC 10,815 9,567
INSTALLED BUILDING PRODUCTS IN 128 102
INTAPP INC 9,433 11,728
INTERNATIONAL BUSINESS MACHINE 51,278 62,982
INTUIT 56,199 65,326
INTUITIVE SURGICAL 24,280 34,449
IONQ ORD SHS 15,628 14,620
ISHARES SHORT MATURITY BOND ET 215 216
ISHARES TR S & P MIDCAP 400 IN 1 1
ITRON INC 19,462 20,739
JANUX THERAPEUTICS 4,715 11,779
JOHNSON & JOHNSON 95,713 87,603
JOHNSON CONTROLS INTERNATIONAL 31,714 36,781
JP MORGAN CHASE 141,053 206,616
JP MORGAN CHASE & CO PFD SER D 7,160 7,148
JPMORGAN CHASE & CO 4.550% PFD 8,351 7,942
JPMORGAN CHASE & CO SER E 6.00 9,742 9,744
JPMORGAN CHASE 4.625% PFD SER 9,535 9,040
JPMORGAN PFD SER MM 04.200% PE 3,728 3,495
KARAT PACKAGING INC 2 2
KB HOME 42 40
KENNEDY WILSON HOLDINGS INC 21,098 20,606
KEYCORP 18 28
KEYCORP 6.125% DEP PFD SERIES 3,458 3,388
KEYCORP CAPITAL B 8.25% CORP B 6,285 5,774
KEYCORP DEP SHS PFD F 3,022 2,866
KEYCORP PFD SER G DRC 924 853
KIMBERLY CLARK CORP 34 31
KINDER MORGAN INC 40,146 58,605
KKR REAL ESTATE FINANCE TRUST 15,277 12,944
KRAFT HEINZ CO 12,205 10,717
KRYSTAL BIOTECH 10,155 9,400
L3HARRIS TECHNOLOGIES 27,161 25,724
LABCORP HLDGS INC (LABORATORY 16,648 18,428
LADDER CAPITAL CORP 9 10
LAMAR ADVERTISING CO CL A REIT 33,092 36,739
LAMB WESTON HOLDINGS INC    
LOCKHEED MARTIN CORP 79,188 76,767
M&T BANK - 5.625% - PFD SER H 2,672 2,581
M&T BANK CORP PREFERRED J 7.5% 3,145 3,061
M/I HOMES, INC 5,709 7,844
MADISON SQUARE GARDEN ENTERTAI 20,252 19,082
MANHATTAN ASSOCIATES INC 54,178 59,183
MARRIOTT INTERNATIONAL INC. CL 24,081 30,910
MARSH AND MCLENNAN COMPANIES I 33,617 40,725
MARVELL TECHNOLOGY, INC 20,675 22,090
MASTERCARD INC 47,707 58,899
MATSON INC 10,033 12,522
MCDONALD'S CORP 73,746 73,918
MCKESSON CORP 347 385
MEDPACE HOLDINGS, INC 9,003 10,964
MEDTRONIC PLC 37,623 32,312
MERCK & CO INC 74,514 67,433
MERCURY GENL CORP NEW 17,949 22,544
META PLATFORMS INC 195,567 319,533
METLIFE INC 80,228 101,606
METLIFE INC 5.62500% PFD 6,743 6,450
METLIFE INC PFD SER F 2,413 2,273
MGM RESORTS INTERNATIONAL 13,228 11,712
MICROCHIP TECHNOLOGY INC 30 23
MICRON TECHNOLOGY 8 7
MICROSOFT CORP 476,294 630,964
MID-AMERICA APT COMMUNITIES IN 17,392 18,810
MOODYS CORP 23,877 30,724
MORGAN STANLEY - 6.375% PFD CL 9,842 9,714
MORGAN STANLEY 4.250% DP PFD 606 589
MORGAN STANLEY 6.5% DP SH PFD 2,247 2,186
MORGAN STANLEY 6.625 PFD SER Q 1,499 1,485
MORGAN STANLEY EACH DS 673 589
MORGAN STANLEY PFD K 4,999 4,819
MORGAN STANLEY PFD SER A 1,285 1,285
MORGAN STANLEY PFD SER E - 7.1 9,105 9,032
MORGAN STANLEY PFD SER F - 6.8 8,324 8,262
MOTOROLA SOLUTIONS INC 48,293 44,836
MR COOPER GROUP INC 6,707 7,777
MSA SAFETY INCORPORATED 85 82
MURPHY USA INC 16,991 22,686
NASDAQ OMX GROUP 8,689 8,760
NETFLIX INC 105,716 165,786
NEXTERA ENERGY, INC 17,159 17,222
NIKE INC-CL B 195 176
NORFOLK SOUTHERN CORP 34,826 33,797
NORTHERN TRUST CORP NON-CUM SE 619 563
NORTHRIM BANCORP INC 14,320 19,134
NORTHWEST PIPE COMPANY 9,541 10,038
NVIDIA CORP 243,455 613,166
OLO ORD SHS CLASS A 15,567 15,468
OMNICELL, INC 9,206 8,103
ONE LIBERTY PROP 5 7
ONITY GROUP 18,454 16,891
ORACLE CORP 93,084 115,939
OWENS CORNING 13,072 14,495
PALANTIR TECHNOLOGIES INC 29,446 49,538
PALO ALTO NETWORKS INC 20,846 23,473
PARKER HANNIFIN CP 73,303 89,037
PAYPAL HOLDINGS, INC 9,093 10,242
PEABODY ENERGY CORP 8,391 8,021
PELOTON INTERACTIVE, INC 4,407 3,906
PEPSICO INC 82,940 72,006
PERDOCEO EDUCATION 16 20
PERIMETER SOLUTIONS ORD SHS 7,977 18,927
PFIZER INC 67,621 55,750
PHIBRO ANIMAL HEALTH CORP 5,540 4,919
PHILIP MORRIS INTL 53,728 65,099
PHREESIA INC COM 8,384 9,032
PLEXUS CORPORATION INC 23,279 22,220
PNC FINANCIAL GROUP INC 50,974 66,594
PORTLAND GEN ELEC 10,107 9,627
POSTAL REALTY TRUST INC 15,989 14,324
POWELL INDUSTRIES INC 5,059 7,342
PREFERRED BANK 57 58
PREMIER FINANCIAL 15 18
PROASSURANCE CORP 20,471 25,233
PROCTER GAMBLE CO 143,152 157,087
PROLOGIS 52,896 49,181
PRUDENTIAL FINCL INC 55,215 67,042
PUBLIC STORAGE CL H 2,497 2,348
PUBLIC STORAGE PFD SER R 4.00% 1,700 1,532
PUBLIC STORAGE PFE SERIES L 2,038 1,844
PUBLIC SVC ENTERPRISE GROUP IN 35,785 43,925
PULTE GROUP INC 19,286 24,394
PURE STORAGE INC 18,013 27,889
QUALCOMM INC 81,809 82,533
QUALYS INC COM 8,703 8,133
RAMBUS, INC 16,044 19,400
RAYONIER ADVANCED MATERIALS IN 5,054 4,703
RAYTHEON TECHNOLOGIES CORP 26,964 26,277
RBB BANCORP 7,342 6,468
REDFIN CORP 7,037 6,792
REGIONS FINANCIAL CORP DEP PF 6,730 6,796
REGIONS FINL DRC 1,367 1,333
REPUBLIC SVCS INC 27,242 35,711
RIGEL PHARMACEUTICALS NEW 13,051 13,288
RIOT BLOCKCHAIN INC 8,754 7,678
ROSS STORES, INC 97 106
ROYAL CARRIBEAN CRUISE 21,813 36,739
RPM INTERNATIONAL INC 19,983 18,213
SALESFORCE.COM 62,898 69,933
SCHLUMBERGER LTD 38 32
SCHWAB CHARLES NEW 40 DS REPST 1,308 1,190
SERVICE NOW 81,339 96,471
SIERRA BANCORP 12 11
SOUTHERN CO 71,003 81,484
SOUTHERN COPPER CORP 340 391
SPDR BARCLAYS CAPITAL 1-3 MONT 3,888 3,879
SPOTIFY TECHNOLOGY SA 51,471 75,160
SPROUT SOCIAL INC 15,248 12,345
SPROUTS FARMERS MARKET INC 12,247 12,326
SPS COMMERCE, INC 16,826 16,559
SSR MINING INC 7,360 8,345
STATE STREET 5.35% - CLASS B 1,674 1,597
STERLING CONSTRUCTION COMPANY 10,860 9,096
STONECO LTD 10,715 6,862
STRIDE ORD SHS 11,872 22,553
STRYKER CORPORATION 20,920 24,867
SUNRUN INC 1,647 1,045
SYFPRB 1,299 1,315
SYLVAMO CORP 39 36
SYNOPSYS, INC 35,699 42,712
SYSCO CORP 30 31
T-MOBILE US INC 27,489 36,216
TAYLOR MORRISON HOME CORP 16,951 18,241
TEEKAY TANKERS CL A 6 4
TEREX CORP 29 25
TESLA MOTORS INC 137,826 226,150
TETRA TECH INC 19,380 21,811
TEXAS INSTRUMENTS INC 21,964 24,283
THE COCA-COLA CO 62,197 64,397
THE HERSHEY COMPANY 32,633 25,689
THERMO FISHER SCIENTIFIC INC 23,163 22,978
TJX COMPANIES INC 33,360 37,521
TOAST INC 10,039 12,065
TRANE TECHNOLOGIES PLC 38,143 50,578
TRUIST FIN PFD SER R 4,107 3,744
TRUIST FINANCIAL CORP PFD SER 653 590
TRUIST FINANCIAL CORPORATION 26,383 30,298
TTM TECHNOLOGIES INC 12,876 13,167
TWILIO INC 18,442 26,696
TWO HARBORS INVESTMENT CORP 10,816 10,797
UBER 42,736 38,364
UBIQUITI ORD SHS 18,819 28,288
UNISYS CP 9,206 8,913
UNITED PARCEL SERVICE 34,966 30,750
UNITEDHEALTH GROUP INC 92,745 89,100
UPSTART HOLDINGS ORD SHS 15,157 14,531
URBAN OUTFITTERS, INC 9,817 14,214
US BANCORP 39,861 44,256
US BANCORP DEL PREF SERIES O 1,580 1,470
US BANCORP PFD SER B - FLOAT % 1,528 1,521
US BANCORP PFD SER M 1,561 1,449
VALARIS PLC 15,402 13,936
VALMONT INDUSTRIES INC 34 38
VAXCYTE INC 5,193 5,239
VERACYTE INC 10,828 11,682
VERALTO CORPORATION 13,900 13,249
VERIZON COMMUNICATIONS 62,245 60,998
VERTEX PHARMCTLS INC 29,599 26,981
VERTIV CL A 13,115 22,873
VIRGIN GALACTIC HOLDINGS 6,182 1,358
VIRTUS INVESTMENT PTNRS, INC 17,060 15,220
VISA INC 29,159 36,028
VOYA FINL INC SER B 5.35 2,820 2,579
W. P. CAREY INC 26,082 22,917
WAL-MART STORES INC 97,304 142,997
WASHINGTON TRUST BANCORP INC 11,204 10,074
WATTS WATER TECHNOLOGIES INC 13,559 14,357
WEAVE COMMUNICATIONS, INC. 7,793 9,600
WELLS FARGO & CO 51,809 50,011
WELLS FARGO & CO 4.375% 4,902 4,621
WELLS FARGO & CO 4.700% PFD SE 6,460 6,097
WELLS FARGO & COM 4.25 SER-DD 4,283 3,974
WELLS FARGO PFD CL A SER Z 4.7 7,937 7,630
WINGSTOP INC 7,012 8,564
WINTRUST FINANCIAL CORPORATION 11,882 15,099
WOLVERINE WORLDWIDE 13,949 13,542
ZOETIS INC 15,665 14,039
ZOOM VIDEO COMMUNICATIONS INC 10,599 12,650
ZSCALER INC 16,072 15,154

TY 2024 InvestmentsGovtObligationsSch
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
US Government Securities - End of Year Book Value:

49,056
US Government Securities - End of Year Fair Market Value:

49,857
State & Local Government Securities - End of Year Book Value:


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


 


TY 2024 OtherExpensesSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 49,463     49,463
Bank Charges 1 1    
Postage/Delivery Service 36     36
State or Local Filing Fees 25     25


TY 2024 OtherProfessionalFeesSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 40,851 40,851    


TY 2024 ReasonableCauseExplanation
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Explanation:
We respectfully request that John and Julie Schmidt Family Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $378 penalty indicated on Form 2220 be abated because the underpayment in Q1, Q2, Q3 and Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm was unable to reconcile the Foundation's accounts fully in order to calculate the necessary estimated tax payment for Q1, Q2, Q3 and Q4 based on the annualization method. The underpayment was no fault of the foundation's and the firm is enhancing its procedures to improve its reconciliation process for future quarters. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules, and respectfully request that no 2220 penalty be assessed.

TY 2024 TaxesSchedule
Name:
John and Julie Schmidt Family Foundation
EIN:
84-3036130
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Extension for 2023 7,200