From 1933 to 1938 Artur Schnabel and his wife, the contralto Therese Behr, gave summer classes at Lake Como to students from all over the world. After WWII, Karl Ulrich Schnabel returned to Lake Como and continued the teaching tradition until his death in 2001.

Many of Artur and Karl Ulrich Schnabel's students are continuing in this tradition.

In 2004 The Schnabel Music Foundation has suspended its sponsorship of master classes in order to concentrate its effort on publication of Artur Schnabel compositions, lectures, and other writings, as well as reissuing of historic recordings of the Schnabel musicians.