Walter and Karla Goldschmidt Foundation

Quick Stats

• Annual Giving: $2,585,500 (2023)
• Tax Year: 2023
• Total Assets: $32,875,796 (2023)
• Geographic Focus: Chicago metropolitan area, with some giving in California and Washington (based on third-party sources)
• Foundation Type: Private family foundation

Contact Details

Address: 465 Lakeside Terrace, Glencoe, IL 60022

Note: The foundation does not maintain a public website or published contact information for grant applications.

Overview

The Walter and Karla Goldschmidt Foundation was established in 1974 and received tax-exempt status in January 1975. Named for Walter Goldschmidt (1922-2007) and his wife Karla, the foundation represents the philanthropic legacy of a Chicago family with deep roots in business and community service. Walter Goldschmidt was a pioneering figure in financial futures trading, serving as a director of the Chicago Board of Trade from 1971 to 1976, and helped establish ContiCommodity Services in the early 1970s.

With assets of $32.9 million and annual giving of $2.6 million, the foundation operates as a private family foundation led by Walter and Karla's daughter, Susan Goldschmidt, who has served as President since 1991. The foundation makes grants primarily in the Chicago metropolitan area, with additional support for organisations in California and Washington. While the foundation does not accept unsolicited applications, it has established several notable ongoing programmes, including the SABEW Goldschmidt Fellowships for business journalists and support for educational institutions such as Washington University in St. Louis.

Funding Priorities

Known Grant Programmes

SABEW Goldschmidt Fellowships: Multi-year funding supporting business journalists through advanced data workshops in Washington, D.C. and at the Federal Reserve Bank of St. Louis. The programme, now in its eleventh year, provides intensive five-day programmes where journalists interact with governmental and non-governmental agencies that produce economic data. Fellows must be active SABEW (Society for Advancing Business Editing and Writing) members.

Washington University Libraries Internship Programme: A multi-year grant (2024-2026) funding paid student internships at WashU Libraries, supporting nine to eleven interns annually across seven internship opportunities.

Priority Areas

Based on known grant recipients and the foundation's documented activities, priority areas include:

• Education: Support for educational institutions, libraries, and student development programmes
• Journalism: Professional development for business and economic journalists
• Historic Preservation: Including digitisation and preservation of historical materials (such as Walter Goldschmidt's WWII letters)
• Youth Services: Organisations providing guidance and support for young people, including those in the juvenile justice system

Geographic Distribution

• Primary focus: Chicago metropolitan area and Illinois
• Secondary focus: California and Washington state
• Additional support: Select national organisations aligned with foundation priorities

Governance and Leadership

The foundation is led by a small board of trustees who serve without compensation:

Susan Goldschmidt - President, Secretary, and Director. Susan has led the foundation since 1991 and is one of three children of Walter and Karla Goldschmidt. Her siblings include Jim Goldschmidt (also a director) and the late Jane Deal.

Miles Taub - Vice President, Treasurer, and Director

James Goldschmidt - Director

The foundation operates as a family-controlled entity with all trustees serving without salary, consistent with its structure as a private family foundation.

Application Process & Timeline

How to Apply

This foundation does not have a public application process. The Walter and Karla Goldschmidt Foundation operates as a private family foundation where grants are awarded at the discretion of the board of trustees. The foundation does not accept unsolicited applications or maintain a public grants programme.

Grants are typically awarded to:

• Organisations with established relationships with the foundation or its trustees
• Institutions and programmes identified proactively by the board
• Multi-year commitments to specific programmes aligned with family interests

Decision Timeline

Not applicable - the foundation does not operate on an open application cycle. Grant decisions are made at the discretion of the board of trustees throughout the year.

Success Rates

Not applicable for unsolicited applications, as the foundation does not accept them.

Application Success Factors

Since the foundation does not accept unsolicited applications, the following factors appear to characterise successful grant relationships based on known recipients:

Established Institutional Credibility: The foundation supports well-established organisations and institutions, including national professional associations (SABEW) and major universities (Washington University in St. Louis).

Multi-Year Programme Support: Rather than one-time grants, the foundation demonstrates a preference for sustained support of specific programmes, such as the eleven-year commitment to the Goldschmidt Fellowships and the three-year Washington University internship programme.

Professional Development Focus: The foundation shows particular interest in programmes that develop professionals and students, including business journalists and library science students.

Chicago and Midwest Connections: While the foundation supports some organisations outside Illinois, there is a clear emphasis on Chicago-area nonprofits and organisations with connections to the family's history and interests.

Educational and Cultural Preservation: Programmes that combine education with preservation of history and culture (such as the digitisation of Walter Goldschmidt's WWII letters) align with documented foundation interests.

Key Takeaways for Grant Writers

• No public application process: This foundation does not accept unsolicited grant applications and operates through trustee discretion
• Relationship-based grantmaking: Grants appear to flow from established relationships with trustees or proactive identification by the board
• Multi-year commitments preferred: The foundation's known programmes involve sustained support over multiple years rather than one-time awards
• Geographic focus on Chicago: While some grants go outside Illinois, the Chicago metropolitan area receives the majority of support
• Education and professional development emphasis: Known programmes focus heavily on developing students and professionals
• Family legacy continues: Now in its second generation of leadership under Susan Goldschmidt, the foundation maintains the family's philanthropic interests

References

• Cause IQ - Walter and Karla Goldschmidt Foundation
• ProPublica Nonprofit Explorer - Walter And Karla Goldschmidt Foundation
• Instrumentl - Walter And Karla Goldschmidt Foundation 990 Report
• SABEW - Goldschmidt Fellowship
• WashU Libraries - Goldschmidt Foundation Transforms Internships at the Libraries
• Chicago Tribune - Walter Goldschmidt Obituary (2007)
• WashU Libraries - World War II Letters Give a Personal Glimpse of History
• LinkedIn - Susan Goldschmidt Profile
• GuideStar - Walter and Karla Goldschmidt Foundation Profile

Information accessed December 2024