The Carl & Marilynn Thoma Foundation’s recent giving reflects a single, large transfer to a philanthropic intermediary rather than direct programmatic funding. All reported grants were made to Schwab Charitable, suggesting the foundation is routing resources into donor-advised or regranting vehicles instead of operating or directly funding nonprofits. This indicates a focus on enabling flexible, donor-directed philanthropy rather than targeted program investments.
The Carl & Marilynn Thoma Foundation’s recent grantmaking is anchored by a sustained pattern of large transfers to Schwab Charitable, including $35.1 million in 2025 and 2024 and $20 million in 2023. That pattern matters because it sits alongside a broader mix of art, scholarship, and education support that appears across its recent grants. Beyond intermediary giving, the foundation funded Chicago Shakespeare Theater with $350,000 in 2025 and The Santa Fe Opera with $250,000 in 2024, while also supporting New Mexico State University with $300,000 in 2023. The grant list also includes support for museums, schools, and scholarship-related organizations, which points to a funder active across cultural and educational channels rather than a single program lane. Its portfolio reaches both institutions and individuals, and the recent awards show a range from six-figure institutional grants to smaller research and scholarship awards. The foundation’s named programs reinforce that mix: collections-related support, special project funding, and fellowships or awards for individual researchers all sit within its grantmaking structure.
One clear theme is support for art institutions and exhibitions. The foundation gave $250,000 to Portland Art Museum for Jeffrey Gibson biennale support, and $125,000 to Site Santa Fe for general support. It also awarded $100,000 to Georgia O’Keeffe Museum for general support, showing continued attention to museums tied to collection areas. A second thread is education and scholarships. New Mexico State University received $300,000 for general support, while Oklahoma State University Foundation received $111,200 in 2025. The grant list also includes a $123,197 scholarship award in Dallas, and the foundation’s active programs include scholarships and leadership-focused education support. In the performing arts, Chicago Shakespeare Theater received $350,000 in 2025 and another $124,700 tied to the deductible portion of a 2023 Spirit of Shakespeare host committee sponsorship. The Santa Fe Opera also appears in the recent grants list with $250,000 for its 2023 season sponsorship.
The typical grant size sits at $5,000 at the 25th percentile, $24,000 at the median, and $60,000 at the 75th percentile, even though the recent grants list also contains large capital-style transfers. The foundation appears to make repeat awards: Schwab Charitable appears in multiple years, and several recipients recur across 2023 through 2025, including Chicago Shakespeare Theater, Golden Apple Foundation, New Mexico School for the Arts, Site Santa Fe, and New Mexico State University. It is a regular funder rather than a DAF vehicle, and it funds individuals directly. The active programs indicate both unsolicited and invited pathways, including awards portals and collaborative special project proposals.
$99.7M
$1.2B
$151.4M
$48.4M
Most grants fall between $5K and $60K, with a median of $24K.
25th Percentile
$5K
Median
$24K
75th Percentile
$60K
About 11% of grants go to recipients in NM.
CARL D THOMA
PRESIDENT
Top 10 recipient countries by grant volume for Carl & Marilynn Thoma Foundation.
| Rank | Country | Grants | Total | Share |
|---|---|---|---|---|
| 1 | United StatesDomestic | 127 | $99.3M | 77.9% |
| 2 | Argentina | 12 | $111K |
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Extremely concentrated giving: very large, few grants (three grants totaling $90.2M) all directed to a single intermediary. No evidence of repeat direct program support to operating nonprofits; funds appear routed for downstream distribution or donor-advised use.
Notable grantees: Schwab Charitable
Grant recipients are spread nationally, with most awards landing in the United States and a smaller share going abroad. New Mexico stands out as the top state by grant count, with repeated awards in Santa Fe and Las Cruces, while Texas recipients include Dallas, Houston, and Roscoe. Other visible centers include Chicago, New York, Phoenix, Portland, and Boston. International recipients appear in the country distribution as Argentina, Peru, Ecuador, Japan, Spain, the United Kingdom, Italy, Colombia, and France.
Its active programs cover art exhibitions and programs, artist support, education projects and scholarships, scholarly research, conservation, and publication support. Recent grants also show support for theaters, museums, universities, and scholarship organizations.
Yes. The foundation funds individuals and administers awards and fellowships for researchers. Its programs include research and travel awards in Art of the Spanish Americas, the Marilynn Thoma Fellowship, and scholarships for rural students.
The typical grant size is $5,000 at the 25th percentile, $24,000 at the median, and $60,000 at the 75th percentile. At the same time, the recent record includes larger awards in the six- and seven-figure range.
Yes for several programs. The foundation accepts unsolicited applications for awards and fellowships, special project funding, research and travel awards, conservation grants, and collections-related grants for nonprofits.
New Mexico is the top state by grant count. Recent recipient cities in that state include Santa Fe and Las Cruces, and Texas cities in the recent list include Dallas, Houston, and Roscoe.
2025
Source: IRS Form 990-PF, fiscal year 2025.
7.4% |
| 3 | Peru | 7 | $83K | 4.3% |
| 4 | Japan | 3 | $35K | 1.8% |
| 5 | Ecuador | 3 | $6K | 1.8% |
| 6 | United Kingdom | 2 | $88K | 1.2% |
| 7 | Italy | 2 | $45K | 1.2% |
| 8 | Colombia | 2 | $13K | 1.2% |
| 9 | Spain | 2 | $7K | 1.2% |
| 10 | Mexico | 1 | $15K | 0.6% |
Recipient country reflects the grantee's headquarters per IRS 990-PF and Schedule F filings, not the program's implementation country.
Financiamiento actual y próximo de Carl & Marilynn Thoma Foundation al que tu organización sin fines de lucro podría postularse.
¿Quién puede postularse? Projects that align with the Foundation's interests (significant exhibitions, artist programs, innovative high school/college scholarship initiatives); the Foundation emphasizes collaborative, personal partnerships.
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Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| SCHWAB CHARITABLE | ORLANDO, FL | $35,100,000 | 2025 | GENERAL SUPPORT |
| SHIRLEY RYAN ABILITYLAB FKA REHABILITATION INSTITUTE OF CHICAGO | CHICAGO, IL | $1,000,000 | 2025 | GENERAL SUPPORT |
| CHICAGO SHAKESPEARE THEATER | CHICAGO, IL | $350,000 | 2025 | GENERAL SUPPORT |
| SPONSORS FOR EDUCATIONAL OPPORTUNITY INC DBA SEO SCHOLARS | SAN FRANCISCO, CA | $250,000 | 2025 | GENERAL SUPPORT |
| SITE SANTA FE | SANTE FE, NM | $125,000 | 2025 | GENERAL SUPPORT |
| Scholarships | Dallas, TX | $123,197 | 2025 | SCHOLARSHIPS |
| OKLAHOMA STATE UNIVERSITY FOUNDATION | STILLWATER, OK | $111,200 | 2025 | GENERAL SUPPORT |
| NEW MEXICO SCHOOL FOR THE ARTS | SANTE FE, NM | $100,000 | 2025 | GENERAL SUPPORT |
| BUFFALO FINE ARTS ACADEMY | BUFFALO, NY | $100,000 | 2025 | PUBLICATION GRANT |
| GOLDEN APPLE FOUNDATION | CHICAGO, IL | $100,000 | 2025 | GENERAL SUPPORT |
| UNIVERSITY COLLEGE LONDON | LONDON | $82,508 | 2025 | POST-DOCTORAL FELLOWSHIP |
| REGENTS OF THE UNIVERSITY OF CALIFORNIA AT RIVERSIDE | RIVERSIDE, CA | $75,000 | 2025 | EXHIBITION SUPPORT |
| THE LOS ANGELES COUNTY MUSEUM OF ART | LOS ANGELES, CA | $75,000 | 2025 | EXHIBITION SUPPORT |
| SANTA FE OPERA | SANTE FE, NM | $75,000 | 2025 | GENERAL SUPPORT |
| AMERICAN ENTERPRISE INSTITUTE | WASHINGTON, DC | $50,000 | 2025 | GENERAL SUPPORT |
| HOOVER INSTITUTION | STANFORD, CA | $50,000 | 2025 | GENERAL SUPPORT |
| ART INSTITUTE OF CHICAGO | CHICAGO, IL | $50,000 | 2025 | GENERAL SUPPORT |
| MILWAUKEE ART MUSEUM | MILWAUKEE, WI | $50,000 | 2025 | EXHIBITION SUPPORT |
| THE DALLAS FOUNDATION | DALLAS, TX | $50,000 | 2025 | EXHIBITION SUPPORT |
| MUSEO DE ARTE DE LIMA | LIMA | $40,000 | 2025 | EXHIBITION SUPPORT |
| THINK NEW MEXICO | SANTE FE, NM | $40,000 | 2025 | GENERAL SUPPORT |
| UNIVERSIDAD DE INGENIERA Y TECNOLOGIA | LIMA | $35,000 | 2025 | CONSERVATION GRANT |
| HILLSBORO MEDICAL CENTER FOUNDATION | HILLSBORO, OR | $32,500 | 2025 | GENERAL SUPPORT |
| CARLA GARCIA | BUENOS AIRES | $32,500 | 2025 | DOCTORAL FELLOWSHIP |
| AMON CARTER MUSEUM OF ART | FORT WORTH, TX | $30,000 | 2025 | GENERAL & EXHIBITION SUPPORT |
| FIGGE ART MUSEUM | DAVENPORT, IA | $25,000 | 2025 | EXHIBITION SUPPORT |
| DALLAS OPERA | DALLAS, TX | $25,000 | 2025 | GENERAL SUPPORT |
| NAKATOMI HAJIME | TAKETA CITY | $25,000 | 2025 | NEXT GEN AWARD |
| NEW MEXICO MUSEUM OF ART | SANTA FE, NM | $25,000 | 2025 | PUBLICATION GRANT |
| ELECTRONIC ARTS INTERMIX | NEW YORK, NY | $21,400 | 2025 | PUBLICATION GRANT |
| PORTLAND MUSEUM OF ART | PORTLAND, ME | $20,000 | 2025 | PUBLICATION GRANT |
| CANTOR ART MUSEUM STANFORD UNIVERSITY | STANFORD, CA | $20,000 | 2025 | PUBLICATION GRANT |
| UNIVERSITY OF TEXAS FOUNDATION | AUSTIN, TX | $20,000 | 2025 | EXHIBITION SUPPORT |
| RODRIGO VILLALOBOS RUIZ | QUERETARO | $15,000 | 2025 | CONSERVATION GRANT |
| CORNELL UNIVERSITY | ITHACA, NY | $15,000 | 2025 | EXHIBITION SUPPORT |
| UTEC | LOWELL, MA | $15,000 | 2025 | GENERAL SUPPORT |
| EWA KUBIAK | LODZ | $14,600 | 2025 | RESEARCH & TRAVEL AWARD |
| AMERICAN FRIENDS OF THE PRADO MUSEUM | MINNEAPOLIS, MN | $12,500 | 2025 | GENERAL SUPPORT |
| STATE UNIVERSITY OF NEW YORK STATE | STONY BROOK, NY | $12,000 | 2025 | SEMINAR SUPPORT |
| SANTA FE CHAMBER MUSIC FESTIVAL | SANTE FE, NM | $10,000 | 2025 | GENERAL SUPPORT |
| NEVADA MUSEUM OF ART | RENO, NV | $10,000 | 2025 | EXHIBITION SUPPORT |
| NASHER SCULPTURE CENTER | DALLAS, TX | $10,000 | 2025 | GENERAL SUPPORT |
| WHITNEY MUSEUM OF AMERICAN ART | NEW YORK, NY | $7,344 | 2025 | GENERAL SUPPORT |
| WATANABE CHIAKI | YAMANASHI | $5,000 | 2025 | NEXT GEN AWARD |
| DALLAS ART MUSEUM | DALLAS, TX | $5,000 | 2025 | GENERAL SUPPORT |
| MODERN ART MUSEUM OF FORT WORTH | FORT WORTH, TX | $5,000 | 2025 | GENERAL SUPPORT |
| BAYLOR SCOTT FOUNDATION | FORT WORTH, TX | $5,000 | 2025 | GENERAL SUPPORT |
| CARL & MARILYNN THOMA FOUNDATION - NEXT GEN AWARDS | DALLAS, TX | $5,000 | 2025 | GENERAL SUPPORT |
| KONDO MASSAYO | BEPPUCITY | $5,000 | 2025 | NEXT GEN AWARD |
| SOFIA ORTEGA-GUERRERO | OAKLAND, CA | $3,750 | 2025 | EXPLORATORY TRAVEL |
SCHWAB CHARITABLE
$35,100,000GENERAL SUPPORT
SHIRLEY RYAN ABILITYLAB FKA REHABILITATION INSTITUTE OF CHICAGO
$1,000,000GENERAL SUPPORT
CHICAGO SHAKESPEARE THEATER
$350,000GENERAL SUPPORT
SPONSORS FOR EDUCATIONAL OPPORTUNITY INC DBA SEO SCHOLARS
$250,000GENERAL SUPPORT
SITE SANTA FE
$125,000GENERAL SUPPORT
Scholarships
$123,197SCHOLARSHIPS
OKLAHOMA STATE UNIVERSITY FOUNDATION
$111,200GENERAL SUPPORT
NEW MEXICO SCHOOL FOR THE ARTS
$100,000GENERAL SUPPORT
BUFFALO FINE ARTS ACADEMY
$100,000PUBLICATION GRANT
GOLDEN APPLE FOUNDATION
$100,000GENERAL SUPPORT
UNIVERSITY COLLEGE LONDON
$82,508POST-DOCTORAL FELLOWSHIP
REGENTS OF THE UNIVERSITY OF CALIFORNIA AT RIVERSIDE
$75,000EXHIBITION SUPPORT
THE LOS ANGELES COUNTY MUSEUM OF ART
$75,000EXHIBITION SUPPORT
SANTA FE OPERA
$75,000GENERAL SUPPORT
AMERICAN ENTERPRISE INSTITUTE
$50,000GENERAL SUPPORT
HOOVER INSTITUTION
$50,000GENERAL SUPPORT
ART INSTITUTE OF CHICAGO
$50,000GENERAL SUPPORT
MILWAUKEE ART MUSEUM
$50,000EXHIBITION SUPPORT
THE DALLAS FOUNDATION
$50,000EXHIBITION SUPPORT
MUSEO DE ARTE DE LIMA
$40,000EXHIBITION SUPPORT
THINK NEW MEXICO
$40,000GENERAL SUPPORT
UNIVERSIDAD DE INGENIERA Y TECNOLOGIA
$35,000CONSERVATION GRANT
HILLSBORO MEDICAL CENTER FOUNDATION
$32,500GENERAL SUPPORT
CARLA GARCIA
$32,500DOCTORAL FELLOWSHIP
AMON CARTER MUSEUM OF ART
$30,000GENERAL & EXHIBITION SUPPORT
FIGGE ART MUSEUM
$25,000EXHIBITION SUPPORT
DALLAS OPERA
$25,000GENERAL SUPPORT
NAKATOMI HAJIME
$25,000NEXT GEN AWARD
NEW MEXICO MUSEUM OF ART
$25,000PUBLICATION GRANT
ELECTRONIC ARTS INTERMIX
$21,400PUBLICATION GRANT
PORTLAND MUSEUM OF ART
$20,000PUBLICATION GRANT
CANTOR ART MUSEUM STANFORD UNIVERSITY
$20,000PUBLICATION GRANT
UNIVERSITY OF TEXAS FOUNDATION
$20,000EXHIBITION SUPPORT
RODRIGO VILLALOBOS RUIZ
$15,000CONSERVATION GRANT
CORNELL UNIVERSITY
$15,000EXHIBITION SUPPORT
UTEC
$15,000GENERAL SUPPORT
EWA KUBIAK
$14,600RESEARCH & TRAVEL AWARD
AMERICAN FRIENDS OF THE PRADO MUSEUM
$12,500GENERAL SUPPORT
STATE UNIVERSITY OF NEW YORK STATE
$12,000SEMINAR SUPPORT
SANTA FE CHAMBER MUSIC FESTIVAL
$10,000GENERAL SUPPORT
NEVADA MUSEUM OF ART
$10,000EXHIBITION SUPPORT
NASHER SCULPTURE CENTER
$10,000GENERAL SUPPORT
WHITNEY MUSEUM OF AMERICAN ART
$7,344GENERAL SUPPORT
WATANABE CHIAKI
$5,000NEXT GEN AWARD
DALLAS ART MUSEUM
$5,000GENERAL SUPPORT
MODERN ART MUSEUM OF FORT WORTH
$5,000GENERAL SUPPORT
BAYLOR SCOTT FOUNDATION
$5,000GENERAL SUPPORT
CARL & MARILYNN THOMA FOUNDATION - NEXT GEN AWARDS
$5,000GENERAL SUPPORT
KONDO MASSAYO
$5,000NEXT GEN AWARD
SOFIA ORTEGA-GUERRERO
$3,750EXPLORATORY TRAVEL