Download THE SCHMIDT FAMILY FOUNDATION

our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED Platinum-certified California Academy of Sciences
building, thousands of visitors interacted with the highly acclaimed “Altered
State” exhibit on climate change. We were proud to support this exhibit since
its inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$10,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CENTER FOR CHILDREN’S
ENVIRONMENTAL HEALTH
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED Platinum
- certified California Academy of Sciences building in which thousands of
visitors interacted with the highly acclaimed “Altered State” exhibit on climate
change. This effort builds on the public’s trust in scientists as a voice of credibility and authority. We also sponsored an event with NOAA and the Gulf of
the Farallones National Marine Sanctuary that brought together major actors
on Bay Area water issues to discuss the impending changes to the San Francisco
Bay due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to NRTA for use as a bus stop. NRTA and the Town’s Planning
Department have envisioned a transportation facility in this location that would
eventually accommodate seven of NRTA’s 9 bus routes using a combination of
the Greenhound property and adjacent Town land, thereby eliminating the
need to have bus stops along the Washington Street sidewalk and creating a
more convenient system for riders. To this end, the Town made slight alterations
to the curbs, provided striping to delineate bus lanes and benches for waiting
passengers. NRTA operated the Surfside Beach and Airport bus routes from the
property beginning in late June through Labor Day. Greenhound added
benches and bike racks to the site and cosponsored with NRTA and Visitors
Service a “Do the Ride Thing” promotion of public transportation, as well as
the national “dump the pump” initiative. Statistics for the summer reflected an
almost 7% increase in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5,719 visitors throughout the 2008 season.
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Change in net assets
Net assets, unresctricted, beginning of period
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
AS OF JANUARY 2010
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED Platinum-certified California Academy of Sciences
building, thousands of visitors interacted with the highly acclaimed “Altered
State” exhibit on climate change. We were proud to support this exhibit since
its inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$10,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CENTER FOR CHILDREN’S
ENVIRONMENTAL HEALTH
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED Platinum
- certified California Academy of Sciences building in which thousands of
visitors interacted with the highly acclaimed “Altered State” exhibit on climate
change. This effort builds on the public’s trust in scientists as a voice of credibility and authority. We also sponsored an event with NOAA and the Gulf of
the Farallones National Marine Sanctuary that brought together major actors
on Bay Area water issues to discuss the impending changes to the San Francisco
Bay due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to NRTA for use as a bus stop. NRTA and the Town’s Planning
Department have envisioned a transportation facility in this location that would
eventually accommodate seven of NRTA’s 9 bus routes using a combination of
the Greenhound property and adjacent Town land, thereby eliminating the
need to have bus stops along the Washington Street sidewalk and creating a
more convenient system for riders. To this end, the Town made slight alterations
to the curbs, provided striping to delineate bus lanes and benches for waiting
passengers. NRTA operated the Surfside Beach and Airport bus routes from the
property beginning in late June through Labor Day. Greenhound added
benches and bike racks to the site and cosponsored with NRTA and Visitors
Service a “Do the Ride Thing” promotion of public transportation, as well as
the national “dump the pump” initiative. Statistics for the summer reflected an
almost 7% increase in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5,719 visitors throughout the 2008 season.
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Change in net assets
Net assets, unresctricted, beginning of period
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
AS OF JANUARY 2010
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED Platinum-certified California Academy of Sciences
building, thousands of visitors interacted with the highly acclaimed “Altered
State” exhibit on climate change. We were proud to support this exhibit since
its inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CENTER FOR CHILDREN’S
ENVIRONMENTAL HEALTH
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED Platinum
- certified California Academy of Sciences building in which thousands of
visitors interacted with the highly acclaimed “Altered State” exhibit on climate
change. This effort builds on the public’s trust in scientists as a voice of credibility and authority. We also sponsored an event with NOAA and the Gulf of
the Farallones National Marine Sanctuary that brought together major actors
on Bay Area water issues to discuss the impending changes to the San Francisco
Bay due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to NRTA for use as a bus stop. NRTA and the Town’s Planning
Department have envisioned a transportation facility in this location that would
eventually accommodate seven of NRTA’s 9 bus routes using a combination of
the Greenhound property and adjacent Town land, thereby eliminating the
need to have bus stops along the Washington Street sidewalk and creating a
more convenient system for riders. To this end, the Town made slight alterations
to the curbs, provided striping to delineate bus lanes and benches for waiting
passengers. NRTA operated the Surfside Beach and Airport bus routes from the
property beginning in late June through Labor Day. Greenhound added
benches and bike racks to the site and cosponsored with NRTA and Visitors
Service a “Do the Ride Thing” promotion of public transportation, as well as
the national “dump the pump” initiative. Statistics for the summer reflected an
almost 7% increase in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5,719 visitors throughout the 2008 season.
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Change in net assets
Net assets, unresctricted, beginning of period
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
AS OF JANUARY 2010
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED certified California Academy of Sciences building,
thousands of visitors interacted with the highly acclaimed “Altered States”
exhibit on climate change. We were proud to support this exhibit since its
inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED Platinum-certified California Academy of Sciences
building, thousands of visitors interacted with the highly acclaimed “Altered
State” exhibit on climate change. We were proud to support this exhibit since
its inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$10,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CENTER FOR CHILDREN’S
ENVIRONMENTAL HEALTH
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED Platinum
- certified California Academy of Sciences building in which thousands of
visitors interacted with the highly acclaimed “Altered State” exhibit on climate
change. This effort builds on the public’s trust in scientists as a voice of credibility and authority. We also sponsored an event with NOAA and the Gulf of
the Farallones National Marine Sanctuary that brought together major actors
on Bay Area water issues to discuss the impending changes to the San Francisco
Bay due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to NRTA for use as a bus stop. NRTA and the Town’s Planning
Department have envisioned a transportation facility in this location that would
eventually accommodate seven of NRTA’s 9 bus routes using a combination of
the Greenhound property and adjacent Town land, thereby eliminating the
need to have bus stops along the Washington Street sidewalk and creating a
more convenient system for riders. To this end, the Town made slight alterations
to the curbs, provided striping to delineate bus lanes and benches for waiting
passengers. NRTA operated the Surfside Beach and Airport bus routes from the
property beginning in late June through Labor Day. Greenhound added
benches and bike racks to the site and cosponsored with NRTA and Visitors
Service a “Do the Ride Thing” promotion of public transportation, as well as
the national “dump the pump” initiative. Statistics for the summer reflected an
almost 7% increase in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5,719 visitors throughout the 2008 season.
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Change in net assets
Net assets, unresctricted, beginning of period
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
AS OF JANUARY 2010
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year, bringing high quality
messaging about climate change to diverse audiences. Continuing our tradition
of forging new and unexpected alliances, we renewed our relationship with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition. We were eager to promote these alliances as a way forward.
To that end, we partnered with the Commonwealth Club and brought Green
for All CEO Van Jones and California State Senator Darrell Steinberg together
for an evening of conversation on the future of green jobs in California.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’ The News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their efforts in bringing environmental science and commentary to a younger audience. With the
opening of the new LEED Platinum-certified California Academy of Sciences
building, thousands of visitors interacted with the highly acclaimed “Altered
State” exhibit on climate change. We were proud to support this exhibit since
its inception and look forward to its evolution.
Always looking for the fresh perspective, Sarah Bell joined us as our second
dedicated staff in her role as Communications Manager. With our increased
capacity, we looked at our own messaging and updated our website to reflect
the evolving dialogue on climate change awareness and solutions.
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize the path to a prosperous and sustainable economy follows the path of
an energy revolution – one in which renewables such as wind and solar energy
power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
17
Wendy Schmidt
President, The Schmidt Family Foundation
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
VOTE SOLAR INITIATIVE
$10,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CENTER FOR CHILDREN’S
ENVIRONMENTAL HEALTH
$50,000
www.ccceh.org
(2nd of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED Platinum
- certified California Academy of Sciences building in which thousands of
visitors interacted with the highly acclaimed “Altered State” exhibit on climate
change. This effort builds on the public’s trust in scientists as a voice of credibility and authority. We also sponsored an event with NOAA and the Gulf of
the Farallones National Marine Sanctuary that brought together major actors
on Bay Area water issues to discuss the impending changes to the San Francisco
Bay due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to NRTA for use as a bus stop. NRTA and the Town’s Planning
Department have envisioned a transportation facility in this location that would
eventually accommodate seven of NRTA’s 9 bus routes using a combination of
the Greenhound property and adjacent Town land, thereby eliminating the
need to have bus stops along the Washington Street sidewalk and creating a
more convenient system for riders. To this end, the Town made slight alterations
to the curbs, provided striping to delineate bus lanes and benches for waiting
passengers. NRTA operated the Surfside Beach and Airport bus routes from the
property beginning in late June through Labor Day. Greenhound added
benches and bike racks to the site and cosponsored with NRTA and Visitors
Service a “Do the Ride Thing” promotion of public transportation, as well as
the national “dump the pump” initiative. Statistics for the summer reflected an
almost 7% increase in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5,719 visitors throughout the 2008 season.
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Change in net assets
Net assets, unresctricted, beginning of period
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
AS OF JANUARY 2010
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17
our mission
The Schmidt Family Foundation supports efforts, using best expert information, to help transform the world’s environmental and energy practices in the
21st century. Our mission, at its broadest, is to advance the creation of an
increasingly intelligent relationship between human activity and the use of the
world’s natural resources.
With this as our fundamental goal, we work strategically, and often in collaboration, to create successful models of our vision. This includes the restoration
and protection of vulnerable historic places while improving their environmental profile, using new technologies and the growing knowledge about the
impact of the built environment on the Earth’s climate system. We support
efforts around the world to improve health, education, transportation and
communications through investing in a pattern of economic development that
includes green, sustainable environmental practices and design.
T H E S C H M I D T FA M I LY FO UNDATI O N
ANNUAL REPORT 2008
TA BL E OF C O NTENTS
Mission Statement
03
Message From the President
04
Message From the President
of the 11th Hour Project
05
2008 Grants
06
The 11th Hour Project Program Activities
12
Greenhound Program Activities
13
2008 Financial Statements
15
Foundation Leadership
message
“No problem can be
solved from the same
level of consciousness
that created it.”
– Albert Einstein
2008 grants
2008 grants
MESSAGE FROM THE PRESIDENT OF THE 11TH HOUR PROJECT
THE SCHMIDT FAMILY FOUNDATION
THE SOPHIE EMERSON SCHMIDT CHARITABLE FUND
THE 11TH HOUR PROJECT [continued]
This year, the Foundation deepened its relationships with a number of
dynamic organizations which are leaders in public education on energy and
climate. These include journalists filming how most of today’s energy is really
made and paid for – and by whom – and journalists working closely with
scientists to accurately convey – in print and video – climate science in plain
English. They include a LEED Platinum level science museum in San Francisco wishing to display their regional story of climate change impact, and
experts in clean energy development, distribution and policy. Other grantees,
associated with major universities, are conveners of government/thought
leaders looking to address state and national level policies on mitigating and
adapting to a changing climate.
In 2008, The 11th Hour Project completed its third year of bringing high
quality messaging about climate change to diverse audiences. Continuing our
tradition of forging new and unexpected alliances, we have also continued to
expand our outreach to new audiences and were delighted to partner with
diverse groups such as The Regeneration Project, Green for All, and Energy
Action Coalition.
ALLIANCE FOR CLIMATE PROTECTION
$1,000,000
www.climateprotect.org
Menlo Park, CA
For the support of education and communication on climate change.
RWANDA COMMUNITY WORKS
$500,423
www.rwandacommunityworks.org
(1st of 3 year)
Rwanda
To fund construction of new health centers in the Gashora sector in Rwanda's
Bugesera district.
GREENPEACE FUND
$100,000
www.greenpeace.org
Washington, D.C.
For Project Hot Seat, a campaign to educate congressional leaders about climate
change and to create grassroots support for strong climate legislation.
Recognizing the power of high quality messaging combined with rigorous
science, we were proud to support the launch of Climate Central and their first
production for PBS’s News Hour with Jim Lehrer, Montana: Trout and
Drought. We look forward to much more from this dynamic organization. We
welcomed Grist as a new grantee and proudly supported their continued
evolution in bringing environmental news and commentary to a younger
audience. In bringing Van Jones and Senator Darrell Steinberg together for an
evening of conversation on the future of green jobs in California, we found an
outstanding partner in The Commonwealth Club. With the opening of the
new LEED certified California Academy of Sciences building, thousands of
visitors interacted with the highly acclaimed “Altered States” exhibit on climate
change. We were proud to support this exhibit from its inception and look
forward to its evolution. Always looking for the fresh perspective, we looked at
our own messaging and updated our website to reflect the evolving dialogue on
climate change awareness and solutions.
NATURAL RESOURCES DEFENSE COUNCIL
$1,000,000
www.nrdc.org
(2nd of 5 year/ $5 million)
New York, NY
For the support of communication about international and domestic environmental priorities.
THE 11TH HOUR PROJECT
FRACTURED ATLAS
$75,000
www.fracturedatlas.org
New York, NY
For production of the "Bible and Earth" documentary, to promote environmental
stewardship to evangelical audiences.
Ultimately, all our grantees are fostering the new paradigm we want to
encourage: a transformation of human understanding, based on increasing
scientifically measurable evidence, of our physical and moral connection to
the planet that sustains us.
We encourage a
transformation of
human understanding,
based on increasing
scientifically measurable evidence, of our
physical and moral
connection to the
planet that sustains us.
17
Wendy Schmidt
President, The Schmidt Family Foundation
This past year brought many extreme changes to the United States and to the
world. From the inspiring election of Barack Obama as President to the far
reaching collapse of a global financial system, 2008 has become a year for
reflection. During this critical time, we realize the imperative need to rebrand
the climate crisis as an unprecedented opportunity for the advancement and
empowerment of all people.
We realize the
imperative need to
rebrand the climate
crisis as an unprecedented opportunity
for the advancement
and empowerment
of all people.
By approaching the multitude of problems we now face with a holistic mindset,
we realize that the path to a prosperous and sustainable economy follows the
path of an energy revolution – one in which renewables such as wind and solar
energy power our lives. We will continue to cultivate new partnerships, deepen
existing relationships and strive to view 2009 as a year of opportunity. As
Donella Meadows always said, “We have exactly enough time, starting now.”
Amy Rao
President, The 11th Hour Project
04
CLIMATE CENTRAL
$1,250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
NANTUCKET DREAMLAND FOUNDATION
$1,000,000
www.nantucketdreamland.org
Nantucket, MA
To fund the restoration of the Dreamland Theatre in downtown Nantucket.
THE ENERGY FOUNDATION
$500,000
www.ef.org
(Final of 3 year/ $1,500,000)
San Francisco, CA
For the advancement of clean energy technologies as a means of reducing global
warming and pollution in the United States and China.
05
FOUNDATION FOR ENVIRONMENTAL RESEARCH
$1,250,000
(Fiscal sponsor for Climate Central Inc.)
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
CLIMATE CENTRAL INC.
$250,000
www.climatecentral.org
Princeton, NJ
General operating support to launch a new group of scientists and communicators
to develop honest, nonpartisan, and up-to-date information to help people make
sound decisions about climate and energy.
2008 grants
activities
SCHWAB CHARITABLE GIFT FUND [continued]
SCHWAB CHARITABLE GIFT FUND [continued]
THE 11TH HOUR PROJECT PROGRAM ACTIVITIES
GRIST
$200,000
www.grist.org
Seattle, WA
For the support of Grist’s informative yet irreverent news and commentary on
climate change science and solutions dedicated to reaching a younger audience.
THE ENERGY AND RESOURCES INSTITUTE, NORTH AMERICA
www.terina.org
$30,000
Washington, D.C.
For the Lighting a Billion Lives Campaign to distribute solar powered lanterns to
villages in India.
In 2008, The 11th Hour Project continued to support efforts to deliver highquality messaging to a wide range of audiences. By supporting the networks of
The Regeneration Project, Green for All, and Energy Action Coalition, we saw
powerful messaging on climate change solutions preached from the pulpit,
across college campuses, and throughout struggling neighborhoods faced with
the greatest health impacts of our fossil fuels based economy.
EARTH ISLAND INSTITUTE
$100,000
(Fiscal sponsor for Energy Action Coalition)
www.climatechallenge.org
San Francisco, CA
For the Campus Climate Challenge, a project that leverages the power of young
people to organize on college campuses and high schools across Canada and the
US to win 100% Clean Energy policies at their schools.
SUSTAINABLE NANTUCKET DEVELOPMENT CORPORATION
www.sustainablenantucket.org
$25,000
Nantucket, MA
To facilitate the focused and strategic development of Sustainable Nantucket as
well as raise awareness of the organization in the community.
We continued to focus on engaging and targeted communications work to help
deliver positive and potent messages about climate change. We found a new
partner with Grist.org and look forward to their continued expansion in
bringing environmental news and commentary to a younger audience. We
were proud to found the creation, along with Jane Lubchenco and Stephen
Pacala, of Climate Central, an organization dedicated to delivering vibrant
media using sound science. Their first production, Montana: Trout and
Drought, aired on PBS’ The News Hour in October 2008. By supporting the
Alliance for Climate Protection, we saw the creation of a pioneering media
campaign on climate solutions reach print, television, and online audiences.
SAN DIEGO FOUNDATION
$50,000
(Fiscal sponsor for Green Cities California)
www.greencitiescalifornia.org
For Green Cities California, a coalition of ten local governments whose mission
is to take collaborative action to accelerate the implementation of sustainability
policies and programs.
NATURAL CAPITAL INSTITUTE
$250,000
(Fiscal sponsor for Green For All)
www.greenforall.org
Oakland, CA
To support the further development of Green for All’s online presence and their
mission to build an inclusive green economy strong enough to lift people out of
poverty.
VOTE SOLAR INITIATIVE
$15,000
$15,000
www.votesolar.org
San Francisco, CA
To support the transition to a renewable energy economy at the local, state and
national level.
YALE UNIVERSITY
$140,000
New Haven, CT
For the Yale 2008 Conference of Governors on Climate Change ($40,000), and
the US Climate Change Target Audiences Project ($100,000).
2008 grants
SCHWAB CHARITABLE GIFT FUND
In 2007, The Schmidt Family Foundation granted $4.5 million to the Schwab
Charitable Gift Fund. In 2008, The Schmidt Family Foundation recommended
the following projects to the Schwab Charitable Gift Fund for consideration and
ultimate support.
NATURAL RESOURCES DEFENSE COUNCIL
$25,000
www.nrdc.org
New York, NY
For a television series to raise public awareness in China about greenhouse gas
emissions and communicate solutions to climate change, at a national and individual level.
CENTER FOR INVESTIGATIVE REPORTING
$500,000
www.centerforinvestigativereporting.org
(Final of 2 year/ $700,000)
Berkeley, CA
For production of a documentary exploring the on the ground effects of coal
mining, and efforts by industry to promote clean coal technologies.
GLOBAL HERITAGE FUND
$500,000
www.globalheritagefund.org
Palo Alto, CA
For planning and community development to build a sustainable model for the
world’s endangered cultural heritage sites.
2008 grants
COMMONWEALTH CLUB OF CALIFORNIA
$68,703
www.commonwealthclub.org
San Francisco, CA
For support of the Climate One Initiative to engage audiences and foster dialogue
on the emerging green economy.
CALIFORNIA ACADEMY OF SCIENCES
$500,000
www.calacademy.org
(Final of 2 year/ $1,000,000)
San Francisco, CA
For the climate change exhibit, “Altered State,” developed for the new LEED
Platinum-certified Academy building in Golden Gate Park.
COLUMBIA CHILDREN ENVIRONMENTAL
HEALTH STUDY
$50,000
www.ccceh.org
(1st of 3 year/$150,000)
New York, NY
For a longitudinal study of health risks to mothers and children from environmental pollutants generated by coal-fired power plants in China.
To bluer skies,
03
2008 grants
MESSAGE FROM THE PRESIDENT
Others we support are demonstrating the power of small communities, in the
U.S. and abroad, to drive significant local change that improves the quality of
life for local people and others far distant, in the countless networks to which
they are also attached. The health of a child in rural China or in the American
Grainbelt is intimately connected to the industrial patterns of resource use and
energy production we have inherited from a century ago. The world’s
economy already suffers from the prospect of the future these patterns have
created. We believe we can help bring our collective resources together to
design a better, more sustainable outcome.
In addition, we support public education around issues of energy and the
environment and promote public understanding of the science of climate
change. Among the world’s poorest populations, the Foundation works to
improve their future prospects in the world economy, using the latest tools of
communication.
message
As a result of continued search for new models of communication in this
dynamic landscape, the Story of Stuff Project joined us as a grantee this year.
This 20 minute film has reached across political and socioeconomic spectrums,
from elementary schools all the way to retirement communities.With over 5
million views in the 11 months since its launch, this systematic look at the
materials lifecycle and our place within it provides a fresh perspective with a
powerful reach.
TIDES CENTER
$50,000
(Fiscal sponsor for The Story of Stuff Project)
www.storyofstuff.com
Berkeley, CA
For organizational development and capacity building to increase the reach of the
Story of Stuff Project and their efforts to connect our daily choices to the greater
environmental, social, and economic narrative.
THE REGENERATION PROJECT
$250,000
www.theregenerationproject.org
San Francisco, CA
For organizational development and capacity building, and to strengthen the
connection between ecology and faith.
activities
11th Hour Team
Joe Sciortino, Erin Strain, Wendy Schmidt,
Amy Rao and Sarah Bell
“Never doubt that a
small group of
thoughtful, committed
citizens can change
the world; indeed, it’s
the only thing that
ever has.”
– Margaret Mead
Turning our focus to California, we saw the completion of the LEED certified
California Academy of Sciences building in which thousands of visitors interacted with the highly acclaimed “Altered State” exhibit on climate change.
This effort builds on the public’s trust in scientists as a voice of credibility and
authority. We also sponsored an event with NOAA and the Gulf of the Farallones National Marine Sanctuary that brought together major actors on Bay
Area water issues to discuss the impending changes to the San Francisco Bay
due to climate change.
activities
Continuing this spirit of collaboration, we have also planted a seed for 2009 in
our new grantee, Green Cities California. We anticipate that their model of
cities providing progressive environmental legislative resources for other cities
will lead to greater impact and stronger partnerships between local communities. While much discussion amongst funders focuses on the need for federal
climate policy, we recognize that the implementation of policy by local and
state governments can make the difference on the ground. Like the Story of
Stuff Project, Green Cities California taps into the power of the internet to
quickly and efficiently disseminate vital information.
For the 2008 summer season, the vacant lot at 12 Washington Street was made
available to the Nantucket Regional Transportation Authority (NRTA) for use
as a bus stop. NRTA and the Town’s Planning Department have envisioned a
transportation facility in this location that would eventually accommodate
seven of NRTA’s 9 bus routes using a combination of the Greenhound property and adjacent Town land, thereby eliminating the need to have bus stops
along the Washington Street sidewalk and creating a more convenient system
for riders. To this end, the Town made slight alterations to the curbs, provided
striping to delineate bus lanes and benches for waiting passengers. NRTA
operated the Surfside Beach and Airport bus routes from the property beginning in late June through Labor Day. Greenhound added benches and bike
racks to the site and cosponsored with NRTA and Visitors Service a “Do the
Ride Thing” promotion of public transportation, as well as the national “dump
the pump” initiative. Statistics for the summer reflected an almost 7% increase
in ridership over 2007.
Since the launch of 11th Hour in 2006, we have seen awareness on climate
change sky-rocket and the conversation quickly shift to solutions. As we look
forward to 2009, we feel this is the story that must be told – one of empowerment and engagement through innovative solutions and collaboration. As a
movement, we are writing a new operating system for the earth and humanity.
We are proud to support this unique moment in history.
Greenhound began work with NRTA and engineering consultants in the fall of
2008 to plan for improved use of this property by increasing the number of
routes on, and therefore buses that leave from, the site.
GREENHOUND PROGRAM ACTIVITIES
Greenhound LLC completed its first full year of activity in 2008 and made
tangible progress towards developing a better seasonal bus system by working in
partnership with the Town of Nantucket and the Nantucket Regional Transportation Authority (NRTA). Our goal is to reduce traffic congestion in the
historic downtown streets, increase ridership, and offer Islanders and visitors
alike an attractive transportation alternative to private automobiles. The Foundation hopes that ultimately, the system will become a zero-emission operation
that will serve as a model for other mass transit providers.
To expand the idea of a private/public partnership between Greenhound and
the Town, Greenhound subsidized the opening of a satellite visitors’ services
center on the property. Nantucket Visitors Service (NVS), an existing Town
department, provides information about accommodations, restaurants, historic
sites, bike paths and bus routes. The Visitors Service annex at the Greenhound
building was open from 9 am to 5 pm, Wednesday to Saturday, from Memorial
Day through mid-September, and answered questions and provided information
to 5719 visitors throughout the 2008 season.
During the spring of 2008, the former liquor store building at 10 Washington
Street was cosmetically renovated to make it suitable for use by the public and
Greenhound used simple “green” strategies in undertaking those renovations.
Greenhound’s messaging within the building sought to educate the public
regarding the green renovation techniques that were used, and to encourage
residents and visitors to “Explore Nantucket gently, on foot, by bike and by
bus”. An open white board invited public commentary on a variety of different
energy and transportation related issues over the summer.
2008 financials
“And after they had
explored all of the
stars in the universe
and all of the planets
around each sun they
realized they were
alone, and they were
glad, for they now
realized that they
would have to
become all of the
things they had hoped
to find.”
– Lanford Wilson
2008 financials
STATEMENT OF FINANCIAL POSITION
$ 154,308,659
$ 223,350,447
LIABILITIES & NET ASSETS
Accounts payable
Accrued liabilities
Tenant improvement allowance
Grants payable
DEC 31, 2008
$
147,867
215,238
30,000
3,902,693
DEC 31, 2007
$
172,564
102,633
5,366,275
Total liabilities and net assets
4,295,798
150,012,861
$ 154,308,659
FOR THE YEAR
ENDED
DEC 31, 2008
DEC 31, 2007
$
3,725,155
214,439,482
1,284,928
129,879
600
3,770,403
Total assets
Net assets - unrestricted
AS OF JANUARY 2010
BOARD OF DIRECTORS
Wendy Schmidt
Eric Schmidt
Sophie Schmidt
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
ASSETS
DEC 31, 2008
Cash and cash equivalents
$ 33,157,170
Investments
114,795,285
Investment related receivables
274,249
Investment related prepaids
Program-related investment loan receivable, net
1,931,217
Prepaid excise tax
260,938
Deposits
29,200
Property and equipment
3,860,600
Total liabilities
foundation leadership
REVENUE AND OTHER SUPPORT
Contributions
$
35,936
Net realized & unrealized gain on investments (63,701,607)
Dividend and interest income
4,108,120
Contributed facilities and services
58,471
Rental income
11,710
Total revenue and support
Investment related expenses
Federal excise tax
Net revenue and other support
5,641,472
(59,415,370)
FOR THE ELEVEN
MONTHS ENDED
DEC 31, 2007
$ 143,469,165
1,384,410
4,467,508
82,994
-
STAFF
Wendy Schmidt
President
Eric Schmidt
Vice President
149,404,077
(306,225)
286,171
(186,768)
(1,486,811)
(59,435,424)
147,730,498
Joe Sciortino
Executive Director
Shally Shanker
VP, Investments
Scott Olle
Director of Investments
EXPENSES
Program services - grants awarded
Program services - other
Program services - contributed travel
Management and general
5,764,044
1,813,166
39,900
643,580
7,725,553
880,291
36,494
97,666
Total expenses
8,260,690
8,740,004
(67,696,114)
138,990,494
William J. Arthur
Secretary
Jeanne Huey
Chief Financial Officer
217,708,975
Net assets, unresctricted, beginning of period
Consistent with Greenhound’s desire to collaborate with existing non-profit
organizations, the Greenhound building served as a ticket office for the Nantucket Film Festival in June, merchandise storage for Nantucket Race Week to
benefit Nantucket Community Sailing in August, and an outlet for pamphlet
distribution and event advertising for many other groups throughout the
summer.
Net assets, unresctricted, end of period
217,708,975
78,718,481
$ 150,012,861
$ 217,708,975
Donald R. Dixon
Beth Strutzel
THE 11TH HOUR PROJECT
Amy Rao
President
“We cannot live only
for ourselves. A thousand fibers connect us
with our fellow men.”
– Herman Melville
Erin Strain
Program Manager
Sarah Bell
Communications Manager
GREENHOUND, LLC
Melissa Philbrick
Executive Director
Rachel Hobart
Program Manager
Virna Gonzalez
Office/Events Coordinator
Joe Rose
Treasurer
$ 223,350,447
Change in net assets
INVESTMENT COMMITTEE
Eric Schmidt
Committee Chair
Jennifer Huang
Controller
Gladys Gunaratne
Senior Accountant
AUDIT COMMITTEE
George Vera
Committee Chair
Teling Peterson
06
07
08
09
10
11
12
13
14
15
16
17