As a child from a poor family, Russell experienced the generosity of others especially at Christmas and as an adult, his gratitude has motivated him to be generous in a variety of ways. He started by contributing to a few charities which expanded to the point where it became difficult to track and manage.
A chance conversation with another entrepreneur introduced him to the idea of a family charitable foundation. The notion appealed to him for several reasons. It simplified his previous situation; it would provide a lasting legacy where his generosity would continue in perpetuity; it would involve his family and future generations in philanthropy. He was directed to the Toronto Foundation by my colleague, liked what he saw and established the Russell & Sharon Schmidt Family Fund.
The current main focus of giving is directed to Cancer research as a result of himself surviving prostate cancer and squamous cell cancer, and recently a very aggressive melanoma cancer from which he passed on February 26th, 2026. He also lost an older sister to lung cancer as well as several other family members who are living with cancer. The family would like to thank Princess Margaret Hospital for their care beyond measures supporting both Russell and family and fast-tracking his care.
We also sponsor children and support local arts endeavours through contributions outside of the Family Foundation.
Our goal is to reach a minimum capital target of 1 million dollars for the Foundation in our lifetime. This capital is expected to at least retain its value relative to inflation and will disperse a minimum of $35,000 per year in perpetuity.
Russell was grateful to have the ability to make a contribution in many ways to this wonderful world we live in and especially through the Family Foundation. A person, whether a little boy like he was, or one who will benefit from medical research, or one who needs a leg up will experience the generosity and pass it forward.
This Fund’s granting purpose is subject to change at the request of the Donor Advisor.
To enable the Donor Advisor to properly recognize donors for their contributions, Toronto Foundation will share your contact information and donation amount with the Donor Advisor unless you have checked the anonymous box on the donation form.