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Schmidt Ocean Institute

  • Palo Alto, CA
  • Tax-exempt since Aug. 2009
  • EIN: 26-4562328

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Science and Technology Research Institutes, Services / Marine Science and Oceanography (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$78.3M (2023)

Expenses
$33.5M (2023)

Total Assets
$137M (2023)

Total Liabilities
$5.65M (2023)

Years with missing data
Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$78,308,682
Expenses
$33,544,543
Net Income
$44,764,139
Net Assets
$131,671,761
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $75,000,000
95.8%
Interest Revenue $2,840
0.0%
Dividends $701,654
0.9%
Sales of Assets $2,604,928
3.3%
Other Income -$740
Notable Expenses Percent of Total Expenses
Charitable Disbursements $38,740,095
> 100%
Compensation of Officers* $561,957
1.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $137,324,185
Total Liabilities $5,652,424
Net Assets $131,671,761
Compensation
Key Employees and Officers Compensation Other
Jyotika Virmani (Executive Director) $561,957 $42,980
Eric King (Senior Director Of O) $474,420 $40,408
Andrew Boyer (Director Of Engineer) $367,461 $43,366
Carlie Wiener (Director Of Comms &) $287,910 $15,735
Nicolas Decourcy Bingham (Lead Electrical Engi) $287,851 $28,687
Jason Williams (Lead Mechanical Engi) $274,658 $16,696
Wendy Schmidt (Director/President) $0 $0
Eric Schmidt (Director/Vice President) $0 $0
John Kelly (Treasurer/Chief Financial Officer) $0 $0
Frances Babb (Secretary) $0 $0
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Document Links

990-PF
Filed on Nov. 14, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$46,947,890
Expenses
$21,827,780
Net Income
$25,120,110
Net Assets
$82,574,767
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $47,000,000
> 100%
Interest Revenue $18
0.0%
Dividends $51,791
0.1%
Sales of Assets $0
Other Income -$103,919
Notable Expenses Percent of Total Expenses
Charitable Disbursements $22,386,547
> 100%
Compensation of Officers* $640,374
2.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $99,929,562
Total Liabilities $17,354,795
Net Assets $82,574,767
Compensation
Key Employees and Officers Compensation Other
Jyotika Virmani (Executive Director) $460,402 $43,602
Eric King (Senior Director Of O) $378,696 $40,288
Carlie Wiener (Director Of Comms &) $267,024 $34,814
Nicolas Decourcy Bingham (Lead Electrical Engi) $252,422 $27,713
Andrew Boyer (Director Of Engineer) $237,324 $43,492
Jason Williams (Lead Mechanical Engi) $220,659 $17,583
John Kelly (Treasurer/Chief Financial Officer) $172,744 $0
Frances Babb (Secretary) $7,228 $0
Eric Schmidt (Director/President) $0 $0
Wendy Schmidt (Director/Vice President) $0 $0
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Document Links

990-PF
Filed on Nov. 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$21,984,878
Expenses
$29,637,350
Net Income
-$7,652,472
Net Assets
$57,310,780
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $22,000,000
> 100%
Interest Revenue $17
0.0%
Dividends $1,601
0.0%
Sales of Assets $0
Other Income -$16,740
Notable Expenses Percent of Total Expenses
Charitable Disbursements $22,846,006
77.1%
Compensation of Officers* $687,004
2.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $66,311,505
Total Liabilities $9,000,725
Net Assets $57,310,780
Compensation
Key Employees and Officers Compensation Other
Jyotika Virmani (Executive Director) $440,001 $42,622
Eric King (Senior Director Of O) $353,312 $39,172
Nicolas Decourcy Bingham (Lead Electrical Engi) $241,706 $28,916
John Kelly (Treasurer/Chief Financial Officer) $224,750 $0
Jason Williams (Lead Mechanical Engi) $221,080 $17,673
Andrew Boyer (Director Of Engineer) $203,001 $51,828
Allan Watt (Chief Engineer (Thru) $191,158 $95,059
Frances Babb (Secretary) $22,253 $0
Eric Schmidt (Director/President) $0 $0
Wendy Schmidt (Director/Vice President) $0 $0
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Document Links

990-PF
Filed on Nov. 14, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$64,989,782
Expenses
$26,782,074
Net Income
$38,207,708
Net Assets
$64,974,178
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $65,000,000
> 100%
Interest Revenue $1,726
0.0%
Dividends $12,534
0.0%
Sales of Assets $0
Other Income -$24,478
Notable Expenses Percent of Total Expenses
Charitable Disbursements $18,493,451
69.1%
Compensation of Officers* $479,020
1.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $69,289,002
Total Liabilities $4,314,824
Net Assets $64,974,178
Compensation
Key Employees and Officers Compensation Other
Eric King (Director Of Marine O) $336,732 $38,345
Jyotika Virmani (Executive Director) $278,368 $36,054
Nicolas Decourcy Bingham (Lead Electrical Engi) $249,494 $28,062
Jason Williams (Lead Mechanical Engi) $219,976 $17,847
John Kelly (Treasurer/Chief Financial Officer) $200,652 $0
Andrew Boyer (Engineering Service) $195,837 $52,407
Errol Campbell (Rov Manager) $170,545 $38,878
Eric Schmidt (Director/President) $0 $0
Wendy Schmidt (Director/Vice President) $0 $0
Stuart Feldman (Vp, Research (Thru 12/30/2020)) $0 $0
Frances Babb (Secretary) $0 $0
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Document Links

990-PF
Filed on Nov. 12, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$17,920,585
Expenses
$27,702,984
Net Income
-$9,782,399
Net Assets
$26,745,726
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $18,000,000
> 100%
Interest Revenue $2,271
0.0%
Dividends $51,547
0.3%
Sales of Assets $0
Other Income -$133,233
Notable Expenses Percent of Total Expenses
Charitable Disbursements $19,883,657
71.8%
Compensation of Officers* $216,108
0.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $29,428,850
Total Liabilities $2,683,124
Net Assets $26,745,726
Compensation
Key Employees and Officers Compensation Other
Eric King (Director Of Marine O) $304,093 $37,244
Victor Zykov (Director Of Research) $231,240 $23,627
Nicolas Decourcy Bingham (Lead Electrical Engi) $223,395 $27,259
Jason Williams (Lead Mechanical Engi) $204,099 $17,463
John Kelly (Secretary/Treasurer) $185,103 $0
Andrew Boyer (Engineering Service) $180,421 $50,260
Stuart Feldman (Vice President, Research) $31,005 $0
Eric Schmidt (Director/President) $0 $0
Wendy Schmidt (Director/Vice President) $0 $0
Eric Braverman (Director (Thru 9/2019)) $0 $0
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Document Links

990-PF
Filed on Nov. 14, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2017

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2016

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$16,081,013
Expenses
$24,268,248
Net Income
-$8,187,235
Net Assets
$55,011,415
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $16,000,000
99.5%
Interest Revenue $912
0.0%
Dividends $113,824
0.7%
Sales of Assets $22,884
0.1%
Other Income -$56,607
Notable Expenses Percent of Total Expenses
Charitable Disbursements $17,493,602
72.1%
Compensation of Officers* $185,859
0.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $57,637,832
Total Liabilities $2,626,417
Net Assets $55,011,415

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$6,094,456
Expenses
$27,390,771
Net Income
-$21,296,315
Net Assets
$63,391,475
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $2,484
0.0%
Dividends $263,725
4.3%
Sales of Assets $5,853,562
96.0%
Other Income -$25,315
Notable Expenses Percent of Total Expenses
Charitable Disbursements $21,240,744
77.5%
Compensation of Officers* $224,600
0.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $65,342,190
Total Liabilities $1,950,715
Net Assets $63,391,475

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$46,828,390
Expenses
$21,518,945
Net Income
$25,309,445
Net Assets
$90,658,540
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $45,304,822
96.7%
Interest Revenue $500
0.0%
Dividends $498
0.0%
Sales of Assets $1,475,308
3.2%
Other Income $47,262
0.1%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $15,468,728
71.9%
Compensation of Officers* $223,915
1.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $92,498,260
Total Liabilities $1,839,720
Net Assets $90,658,540
Compensation
Key Employees and Officers Compensation Other
Victor Zykov (Director Of Research) $252,500 $37,501
Eric King (Director Of Marine O) $204,500 $33,271
John Kelly (Cfo) $192,000 $31,915
Heiko Volz (Captain) $160,075 $3,500
Bernd Buchner (Captain) $146,820 $3,500
Pete Zerr (Deputy Director Of M) $146,150 $21,624
Eric Schmidt (President) $0 $0
Wendy Schmidt (Vice President) $0 $0
Teling Peterson (Secretary) $0 $0
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Document Links

990-PF
Filed on Nov. 17, 2014

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$19,935,984
Expenses
$20,909,094
Net Income
-$973,110
Net Assets
$60,015,830
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $20,000,000
> 100%
Interest Revenue $267
0.0%
Dividends $549
0.0%
Sales of Assets $0
Other Income -$64,832
Notable Expenses Percent of Total Expenses
Charitable Disbursements $13,680,400
65.4%
Compensation of Officers* $221,053
1.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $63,123,595
Total Liabilities $3,107,765
Net Assets $60,015,830

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$26,932,107
Expenses
$11,745,086
Net Income
$15,187,021
Net Assets
$85,301,654
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $27,000,000
> 100%
Interest Revenue $459
0.0%
Dividends $803
0.0%
Sales of Assets $0
Other Income -$69,155
Notable Expenses Percent of Total Expenses
Charitable Disbursements $8,906,352
75.8%
Compensation of Officers* $154,369
1.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $87,705,398
Total Liabilities $2,403,744
Net Assets $85,301,654

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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