In 1998, Larry and Sheila formed the Smith/Stocks-Smith Education and Economic Development Foundation (SEED), a non-operating private foundation, to spur local innovation, support effective charitable activity and inspire a legacy of philanthropy for their children. As a non-operating foundation, SEED distributed over $275,000 to charitable causes, much of it in Springfield, Illinois.  In 2015, the Foundation changed its name to the Smith/Stocks-Smith Family Foundation and became a private operating foundation.