Schmidt Ocean Institute
555 Bryant Street 374, Palo Alto, CA · IRS data through FY2023
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2023 | $78,308,682 | $33,544,543 | $131,671,761 |
| FY2022 | $46,947,890 | $21,827,780 | $82,574,767 |
| FY2021 | $21,984,878 | $29,637,350 | $57,310,780 |
| FY2020 | $64,989,782 | $26,782,074 | $64,974,178 |
| FY2019 | $17,920,585 | $27,702,984 | $26,745,726 |
| FY2015 | $16,081,013 | $24,268,248 | $55,011,415 |
| FY2014 | $6,094,456 | $27,390,771 | $63,391,475 |
| FY2013 | $46,828,390 | $21,518,945 | $90,658,540 |
| FY2012 | $19,935,984 | $20,909,094 | $60,015,830 |
| FY2011 | $26,932,107 | $11,745,086 | $85,301,654 |
Form 990 filings
The returns filed by Schmidt Ocean Institute (EIN 26-4562328), including Form 990-PF PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $75,000,000 | 96% |
| Other revenue | $3,308,682 | 4% |
Grants paid
Total contributions, gifts and grants paid by year, as reported on Form 990-PF. Individual recipients are not published. See private foundations in CA. See the largest grantmakers.
| Tax year | Grants paid |
|---|---|
| FY2023 | $405,059 |
| FY2022 | $1,467,400 |
| FY2021 | $474,000 |
| FY2020 | $1,041,000 |
| FY2019 | $0 |
| FY2015 | $0 |
| FY2014 | $0 |
| FY2013 | $0 |
| FY2012 | $0 |
| FY2011 | $0 |
What the numbers show
- Contributions & grants made up 96% of total revenue in FY2023.
- Net assets covered about 47.1 months of expenses at the end of the reporting year. That puts it in the 76th percentile among 321 Science & Technology organizations in CA.
- Total revenue was higher than 98.2% of 326 Science & Technology organizations in CA.
- Total revenue rose from $26,932,107 in FY2011 to $78,308,682 in FY2023. Revenue increased in 6 and decreased in 3 of 9 year-over-year comparisons.
- Expenses exceeded revenue in 5 of 10 reported years (FY2012, FY2014, FY2015, FY2019, FY2021).
- Net assets grew from $85,301,654 to $131,671,761 between FY2011 and FY2023.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (private operating foundation).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
IRS status
| Ruling year | 2009 |
| Subsection | 501(c)(3) |
| Classification | Private foundation |
| Program area (NTEE) | U21 — Science & Technology (in CA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (private operating foundation). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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