Sylvan C Herman Foundation Inc
- Assets
- $80.6m
- Revenue
- $16.8m
- Investments
- $64.7m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 09/2005
- Data as of
- 12/2023
- EIN
- 20-3265230
Organization Overview
Sylvan C Herman Foundation Inc is located in Washington, DC. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Sylvan C Herman 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 12/2023, Sylvan C Herman Foundation Inc generated $16.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $9.0m during the year ending 12/2023. While expenses have increased by 14.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sylvan C Herman Foundation Inc has awarded 50 individual grants totaling $6,836,243. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SYLVAN C. HERMAN FOUNDATION, INC. (THE "FOUNDATION") WAS FORMED FOR THE PURPOSE OF PROVIDING RESIDENTIAL THERAPEUDIC TREATMENT AND REHABILITATION SERVICES FOR ADULTS SUFFERING FROM MENTAL ILLNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvan Cherman Director & President | 5 | $0 | |
Robert B Herman Director & Vice President | 1 | $0 | |
C Richard Beyda Director & Secretary | 2 | $0 | |
Richard F Levin Director | 1 | $0 | |
Mindy Herman Director | 1 | $0 | |
Beth Stone Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Smith Barney Llc | 12/30/23 | $197,497 |
Medical Billing Solutions Llc | 12/30/23 | $108,000 |
Scherman & Associates Inc | 12/30/23 | $99,878 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,466 |
| Dividends & Interest | $2,297,639 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,250,371 |
| Capital Gain Net Income | $7,528,770 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,234,250 |
| Total Revenue | $16,784,726 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $735,885 |
| Other employee salaries and wages | $3,680,824 |
| Pension plans, employee benefits | $394,941 |
| Interest | $0 |
| Taxes | $132,977 |
| Depreciation | $661,961 |
| Occupancy | $119,929 |
| Travel, conferences, and meetings | $46,375 |
| Printing and publications | $0 |
| Other expenses | $1,106,525 |
| Total operating and administrative expenses | $7,364,118 |
| Contributions, gifts, grants paid | $1,665,180 |
| Total expenses and disbursements | $9,029,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $739,983 |
| Savings and temporary cash investments | $2,211,031 |
| Net Accounts receivable | $84,602 |
| 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 | $17,245,248 |
| Net Land, buildings, and equipment | $12,535,618 |
| Other assets | $317,777 |
| Total assets | $80,593,727 |
| Accounts payable and accrued expenses | $1,350 |
| 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 | $40,800 |
| Total liabilities | $42,150 |
Grants Awarded
Over the last fiscal year, Sylvan C Herman Foundation Inc has awarded $1,665,180 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
ACTIVE MINDS PURPOSE: TO FULFILL CHARITABLE PURPOSE | $25,000 |
BRAINFUTURES INCORPORATED PURPOSE: TO FULFILL CHARITABLE PURPOSE | $100,000 |
CHARLOTTESVILLE AREA COMMUNITY FOUNDATION PURPOSE: TO FULFILL CHARITABLE PURPOSE | $103 |
FRIENDSHIP CIRCLE PURPOSE: TO FULFILL CHARITABLE PURPOSE | $15,000 |
HOPE CONNECTIONS PURPOSE: TO FULFILL CHARITABLE PURPOSE | $2,100 |
JOHN E HERMAN PUBLIC FUND PURPOSE: TO FULFILL CHARITABLE PURPOSE | $1,304,477 |