Scherman Foundation Inc
- Assets
- $0.0
- Revenue
- $4.1m
- Investments
- $104.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1943
- Data as of
- 12/2020
- 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 12/2020, Scherman Foundation Inc generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $7.3m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Scherman Foundation Inc has awarded 476 individual grants totaling $19,292,398. 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 |
|---|---|---|---|
Mitchell C Pratt President | 40 | $295,000 | |
Catherine Porter Director Of Operatio | 40 | $111,930 | |
Naiche Parker Grants & Communicati | 40 | $78,815 | |
Alexa Aviles Program Director | 40 | $51,271 | |
Dr Karen R Sollins Dir, Board Chair-Resigned May 2021 | 2 | $0 | |
Susanna Bergtold Dir, Secretary-Resigned December 2021 | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25,000 |
| Interest on Savings | $3,484 |
| Dividends & Interest | $1,404,537 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,113,209 |
| Total Revenue | $4,104,386 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $267,603 |
| Pension plans, employee benefits | $207,548 |
| Depreciation | $0 |
| Occupancy | $138,278 |
| Travel, conferences, and meetings | $9,520 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $1,929,068 |
| Contributions, gifts, grants paid | $5,417,505 |
| Total expenses and disbursements | $7,346,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,018 |
| Investments—mortgage loans | $0 |
| Investments—other | $104,896,970 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Scherman Foundation Inc has awarded $6,538,665 in support to 181 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: CLIMATE & CLEAN ENERGY EQUITY FUND | $200,000 |
New York, NY PURPOSE: PEAK ENERGY ALTERNATIVE KILOWATTS (PEAK) | $150,000 |
New York, NY PURPOSE: RIGHT TO COUNSEL NYC COALITION | $150,000 |
New York, NY PURPOSE: PRE-PRODUCTION RESIDENCY PROGRAM | $125,000 |
CREATIVE CAPITAL PURPOSE: ARTIST-DRIVEN ENGAGEMENT STRATEGY | $102,000 |
FLORIDA RISING (DBA NEW FLORIDA MAJORITY EDUCATION FUND INC) PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Scherman Foundation Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Gunk Foundation Woodstock, NY PURPOSE: CHARITABLE FOUNDATION, GRANT FOR CONGESTION PRICING IN NYC | $25,000 |
Gunk Foundation Woodstock, NY PURPOSE: CHARITABLE FOUNDATION, GRANT FOR CONGESTION PRICING IN NYC | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |