Herbert Bearman Foundation Inc
- Assets
- $33.7m
- Revenue
- $614.4k
- Investments
- $33.1m
- Employees
- 0
- Location
- Timonium, MD
- Founding
- 10/1998
- Data as of
- 12/2022
- EIN
- 31-1602562
Organization Overview
Herbert Bearman Foundation Inc is located in Timonium, MD. The organization was established in 1998. 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. Herbert Bearman 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, Herbert Bearman Foundation Inc generated $614.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.0%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Herbert Bearman Foundation Inc has awarded 868 individual grants totaling $16,423,589. 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 |
|---|---|---|---|
Sheldon Bearman President & Treasurer | 20 | $0 | |
Arlene Bearman Vice President & Secretary | 15 | $0 | |
Mark Bearman Chief Operating Officer | 40 | $152,984 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,109,246 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$533,989 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $39,101 |
| Total Revenue | $614,358 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $152,984 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $65,195 |
| Interest | $0 |
| Taxes | $58,974 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $19,921 |
| Printing and publications | $0 |
| Other expenses | $20,928 |
| Total operating and administrative expenses | $632,543 |
| Contributions, gifts, grants paid | $1,686,704 |
| Total expenses and disbursements | $2,319,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $662,862 |
| 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 | $8,667,623 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $33,735,485 |
| 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, Herbert Bearman Foundation Inc has awarded $1,686,704 in support to 91 organizations.
| Grant Recipient | Amount |
|---|---|
ALPHA OMEGA ALPHA HONOR PURPOSE: GENERAL PURPOSE | $59 |
ALPERT JEWISH FAMILY SERVICES PURPOSE: GENERAL PURPOSE | $25,000 |
AMERICAN DIABETES ASSOCIATION PURPOSE: GENERAL PURPOSE | $100 |
AMERICAN FRIENDS OF LEKET ISRAEL PURPOSE: HUNGER RELIEF | $26,000 |
AMERICAN FRIENDS OF SHALVA PURPOSE: ISRAEL | $15,000 |
AMERICAN FRIENDS OF SHMAYA PURPOSE: ISRAEL | $5,000 |