Schultz Family Foundation

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OVERVIEW: The Schultz Family Foundation makes grants for young adults and veterans. It also runs an Entrepreneurs Equity Fund which makes supportive investments and non-predatory loans to promising, diverse businesses.

IP TAKE: The Schultz Family Foundation has received positive reviews for being openminded and willing to take risks. Work and economic opportunity is at the heart of its grantmaking for young adults and veterans. Its innovative Entrepreneurs Equity Fund provides investments and loans to promising new businesses and entrepreneurs from underrepresented backgrounds. Unfortunately, Schultz does not accept proposals; getting on this funder’s radar will be difficult. Networking with its grantees may be an opportunity here.

PROFILE: Howard and Shari Schultz co-founded the Schultz Family Foundation in 1996. Howard Schultz is the former CEO of Starbucks, holding the position twice, from 1986 to 2000, and from 2008 to 2017. He also co-owned the Seattle SuperSonics of the NBA and the WNBA’s Seattle Storm. The Schultz Family Foundation is “committed to lifting the human spirit and bringing possibility to everyone, regardless of skin color, religion, sexual orientation, gender, or station in life.” Schultz names three grantmaking impact areas: Young Adults, Veterans and the Entrepreneurs Equity Fund.

Grants for Higher Education, Work and Opportunity and Racial Justice

The Schultz Foundation’s Young Adults giving focuses on “opportunities for 16- to 24-year-olds to access, forge and sustain pathways to fulfilling lives.” Grantmaking emphasizes “the experiences of Black and Indigenous People(s) and/or those whose backgrounds and identities are adversely impacted by historic systems of marginalization.” The program names four giving priorities.

  • Grants support organizations that help to meet basic needs of young people, so that they “can focus their valuable time and resources on educational and professional opportunities.”

  • The program provides grants to broaden the improve the work of “navigation supports” that connect young people to educational and career opportunities.

  • Grants have also supported organizations that help young people to build “social capital” to increase their chances of success.

  • The foundation also makes grants that aim to reform hiring and employment practices, emphasizing opportunity and access to well-paying careers with growth potential.

Grantees working in these areas include Baltimore Corps, CodePath, Thrive Scholars, the Seattle Colleges Foundation, California’s Fresh Lifelines for Youth and the Forum for Youth Investment.

Economic development and racial equity are the focus of Schultz’s Entrepreneurs Equity Fund. This is not a grantmaking program per se; the fund provides equity investments and “non-predatory,” low-cost loans to “emerging, high-potential, diverse-owned businesses.” The foundation has made an initial commitment of $100 million for its equity investments and loans and will supplement this giving with grants for related nonprofit work in entrepreneurial training, mentoring and policy development.

Recipients of Schultz investments include the SugarHill Creamery in New York City and Pressed Roots Inc., a Dallas-based salon for textured hair. Entrepreneurial grants have gone to the University of Washington, Black Ambition and the Living Through Giving Foundation.

Grants for Military and Veterans

The foundation’s Veterans giving program mainly supports initiatives for young veterans, who “experience the worst transitional outcomes of any veteran subpopulation.” The foundation articulates the following grantmaking goals for its giving in this area.

  • Grants support initiatives that help young veterans transition to civilian jobs, including organizations that run vocational training, career counseling and job placement services.

  • The foundation also seeks to support “coordinated hubs at the point of transition” that help veterans access available services and supports.

  • Grantmaking also supports research, advocacy and program evaluations to support best practices in veterans services.

Grantees of the Schultz’s veterans program include vetjobs.com, Hire Heroes USA, Syracuse University’s Institute for Veterans and Military Families and the Mission Continues.

Important Grant Details:

The majority of Schultz Family Foundation grants fall in the $5,000 to $600,000 range.

  • Small- and medium-sized organizations make up a significant portion of this funder’s past grantees.

  • Its giving for young adults appears to be its largest grantmaking area.

  • This funder prioritizes BIPOC and other historically marginalized communities across all focus areas.

  • The Schultz Family Foundation does not accept unsolicited proposals for funding.

  • For additional information about past giving, see the foundation’s grants and investments page.

Submit general inquiries to the foundation’s staff to info@schultzfamilyfoundation.org.

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