Scherman Foundation Inc
- Assets
- $108.6m
- Revenue
- $1.3m
- Investments
- $106.7m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1943
- Data as of
- 12/2022
- EIN
- 13-6098464
Organization Overview
Scherman Foundation Inc is located in New York, NY. The organization was established in 1943. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scherman Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Scherman Foundation Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (31.1%) each year. All expenses for the organization totaled $9.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Scherman Foundation Inc has awarded 621 individual grants totaling $26,640,458. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rini Banerjee Director, Treasurer | 2 | $0 | |
Amy Bergtold Director | 2 | $0 | |
Hillary Brown Director-Resigned January 2022 | 2 | $0 | |
Miriam Buhl ESQ Director | 2 | $0 | |
Steven K Choi Director | 2 | $0 | |
Miles S Rapoport Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Justice Associates Llc | 12/30/22 | $119,000 |
Cambridge Associates Llc | 12/30/22 | $144,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $26 |
| Dividends & Interest | $2,343,277 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $546,132 |
| Capital Gain Net Income | $531,271 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,587,057 |
| Total Revenue | $1,302,378 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $302,375 |
| Other employee salaries and wages | $377,818 |
| Pension plans, employee benefits | $264,665 |
| Interest | $132,319 |
| Taxes | $324,449 |
| Depreciation | $0 |
| Occupancy | $145,684 |
| Travel, conferences, and meetings | $18,953 |
| Printing and publications | $0 |
| Other expenses | $770,708 |
| Total operating and administrative expenses | $2,694,806 |
| Contributions, gifts, grants paid | $6,688,060 |
| Total expenses and disbursements | $9,382,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,621 |
| Savings and temporary cash investments | $1,684,844 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $106,685,353 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $108,635,818 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Scherman Foundation Inc has awarded $7,348,060 in support to 145 organizations.
| Grant Recipient | Amount |
|---|---|
ABRONS ARTS CENTERHENRY STREET SETTLEMENT PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
ADVOCATES FOR CHILDREN OF NEW YORK PURPOSE: GENERAL OPERATING SUPPORT | $250 |
ADVOCATES FOR CHILDREN OF NEW YORK PURPOSE: GENERAL OPERATING SUPPORT | $250 |
AFRICAN COMMUNITIES TOGETHER PURPOSE: GENERAL OPERATING SUPPORT | $60,000 |
ALLIANCE FOR QUALITY EDUCATION INC CO PPEF PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
ASSOCIATION FOR NEIGHBORHOOD & HOUSING DEVELOPMENT (ANHD) PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |