Thomas W. Smith Foundation is a right-of-center grantmaker based in Boca Raton, Florida that funds right-of-center nonprofits such as the Claremont Institute, American Enterprise Institute, and the American Legislative Exchange Council. ¹ The foundation also gives money to universities for academic programs. ^{2 3}

Thomas W. Smith is the president and chairman of the Thomas W. Smith Foundation, and he is also the managing partner of Prescott Investors, a hedge fund. ^{4 5}

Grantees

The Thomas W. Smith Foundation funds many right-of-center nonprofit organizations. In 2021, the organization gave grants to many right-of-center nonprofits, including the American Enterprise Institute, Alexander Hamilton Institute, American Legislative Exchange Council, American Spectator Foundation, American Transparency, Atlas Economic Research Foundation, Calvin Coolidge Presidential Foundation, Cato Institute, Center for American Greatness, Center for Independent Thought, Claremont Institute, Committee to Unleash Prosperity, Competitive Enterprise Institute, DonorsTrust, Foundation for Government Accountability, Freedom Foundation, Goodman Institute, Government Accountability Institute, and the Independent Women’s Forum. ⁶

The organization funds the Thomas W. Smith Free Market Societies Scholars Program at Kenyon College, which allows students to “explore how markets and market-supporting institutions may shape social life and social outcomes, be used to address pressing social problems, or contribute to greater prosperity, democracy, or human liberty.” Students receive a $4,000 stipend for participating in the program. ⁷

At the City University of New York, Thomas W. Smith established a fellowship for the CUNY Baccalaureate program, which has given more than $3 million to 600 students since its establishment in 1994. ⁸

People

Thomas W. Smith is president and chairman of the Thomas W. Smith Foundation. ⁹ He is the managing partner of Prescott Investors, a hedge fund, and sits on the board of the Manhattan Institute. ^{10 11}

James Piereson is a trustee and the director of the Thomas W. Smith Foundation. Pierson is a senior fellow at the Manhattan Institute and the former president of the William E. Simon Foundation. ¹² He received $400,000 from the Thomas W. Smith Foundation in 2021 for consulting services. ¹³ In 2020, Piereson received $350,000 from the organization in compensation. ¹⁴

Finances

In 2021, the Thomas W. Smith Foundation had $23,899,669 in revenue and $15,591,798 in expenses. ¹⁵ In 2020, the organization had $14,034,513 in revenue and $14,609,765 in expenses. ¹⁶ The foundation only makes contributions to preselected organizations and does not accept unsolicited grant applications. ¹⁷

1. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part XIV. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full
2. “Thomas W. Smith Free Market Societies Scholars.” Kenyon College. Accessed October 12, 2023. https://www.kenyon.edu/academics/student-research/thomas-w-smith-free-market-societies-scholars/.
3. “Private Support Helps CUNY BA Turn 40.” City University of New York. Accessed September 28, 2023. https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/invest-in-cuny/Thomas-W-Smith.pdf.
4. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part VII. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.
5. “Private Support Helps CUNY BA Turn 40.” City University of New York. Accessed September 28, 2023. https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/invest-in-cuny/Thomas-W-Smith.pdf.
6. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part XIV. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.
7. “Thomas W. Smith Free Market Societies Scholars.” Kenyon College. Accessed October 12, 2023. https://www.kenyon.edu/academics/student-research/thomas-w-smith-free-market-societies-scholars/.
8. “Private Support Helps CUNY BA Turn 40.” City University of New York. Accessed September 28, 2023. https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/invest-in-cuny/Thomas-W-Smith.pdf.
9. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part VII. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.
10. “Private Support Helps CUNY BA Turn 40.” City University of New York. Accessed September 28, 2023. https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/invest-in-cuny/Thomas-W-Smith.pdf.
11. “Board of Trustees.” Manhattan Institute. Accessed September 28, 2023. https://manhattan.institute/board-of-trustees.
12. “James Piereson.” Manhattan Institute. Accessed October 13, 2023. https://manhattan.institute/person/james-piereson.
13. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part VII. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.
14. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2020. Part VIII. https://projects.propublica.org/nonprofits/organizations/473862135/202111319349101836/full.
15. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part I. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.
16. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2020. Part I. https://projects.propublica.org/nonprofits/organizations/473862135/202111319349101836/full.
17. Return of Organization Exempt from Income Tax (Form 990). Thomas W. Smith Foundation. 2021. Part XIV. https://projects.propublica.org/nonprofits/organizations/473862135/202211369349103551/full.