Introduction
The U.S. Venture/Schmidt Family Foundation is a U.S.-based nonprofit organization committed to improving lives through community development, self-sufficiency, and support for vulnerable populations. Established in 1985, the foundation operates as a hybrid corporate and family foundation, combining business success with philanthropic impact.
History and Background
The foundation was founded by Art, Ray, and Bill Schmidt to honor the legacy and values of their parents, Albert and Margaret Schmidt. It evolved from the success of the Schmidt family’s business, originally the Schmidt Brothers Oil Company, which later became U.S. Venture.
Over time, the foundation has grown into a structured philanthropic organization, guided by values such as generosity, volunteerism, and community support. It continues to integrate family involvement with corporate leadership to maintain its long-term vision.
Mission and Purpose
The foundation’s mission is to create meaningful, lasting change by supporting initiatives that:
- Promote self-sufficiency
- Enhance community well-being
- Support vulnerable and disadvantaged populations
- Strengthen social connections and families
It focuses on improving quality of life in communities where U.S. Venture operates.
Governance and Structure
- Operates as a 501(c)(3) nonprofit organization in the United States.
- Governed by a Board of Directors, including both U.S. Venture team members and Schmidt family descendants.
- Supported by committees such as the Community Engagement Committee (CEC), which plays a key role in grant decisions.
This hybrid governance model ensures alignment between business values and philanthropic goals.
Funding and Grant Activities
The foundation is funded through:
- An endowment
- A percentage of U.S. Venture’s annual net profits
It awards millions of dollars annually, with over $4.3 million granted in a recent year and more than $6 million invested annually in nonprofits.
Types of Grants
- Program grants (small and large-scale funding)
- Community sponsorships
- General operating and capital support
Typical grants may range from smaller community awards up to $35,000 to larger strategic funding.
Key Focus Areas
The foundation prioritizes projects that deliver measurable and long-term impact in areas such as:
- Education and workforce development
- Health and well-being
- Family support and social connectedness
- Economic opportunity and community enrichment
- Human services and addiction support
Programs and Initiatives
- Community Engagement Committee (CEC)
- A unique internal program where employees and stakeholders help recommend and fund community projects, strengthening local engagement.
- Program Grants
- Structured funding initiatives that support nonprofits delivering scalable and sustainable outcomes.
- Family Philanthropy Initiatives
- Programs like the Schmidt Family G4 Fund involve younger generations in giving, promoting long-term philanthropic leadership.
Impact
The foundation has made a measurable impact by:
- Funding hundreds of nonprofit organizations
- Supporting community-based solutions across the U.S.
- Encouraging employee-driven philanthropy and volunteering
- Strengthening local communities through long-term investments
Its funding strategy emphasizes sustainable outcomes and broad community reach.
Conclusion
The U.S. Venture/Schmidt Family Foundation stands out as a model of corporate-family philanthropy, combining financial resources, community engagement, and strong values to create lasting impact. By investing in people, communities, and long-term solutions, the foundation continues to play a vital role in advancing social well-being across the United States.
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