Hermann Foundation Inc
- Assets
- $56.5m
- Revenue
- $6.1m
- Investments
- $54.9m
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 02/2004
- Data as of
- 12/2022
- EIN
- 56-2385301
Organization Overview
Hermann Foundation Inc is located in Worcester, MA. The organization was established in 2004. 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. Hermann 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, Hermann Foundation Inc generated $6.1m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hermann Foundation Inc has awarded 198 individual grants totaling $11,983,667. 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 |
|---|---|---|---|
Maryann Copeland Treas/sec/director | 20 | $75,000 | |
Maria Starzyk President/director | 35 | $200,000 | |
Kerry Quinnin Director | 12 | $25,000 | |
Edward Starzyk Director | 12 | $0 | |
Jennifer Starzyk Director | 12 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grimes & Company Inc | 12/30/22 | $172,005 |
Ubs Investments | 12/30/22 | $134,764 |
Singer & Lusardi Llp | 12/30/22 | $33,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $77,850 |
| Dividends & Interest | $1,546,260 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,492,328 |
| Capital Gain Net Income | $4,492,328 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $46 |
| Total Revenue | $6,116,484 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $300,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $169,229 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $319,564 |
| Total operating and administrative expenses | $822,280 |
| Contributions, gifts, grants paid | $4,353,000 |
| Total expenses and disbursements | $5,175,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,551,170 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $56,458,638 |
| 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, Hermann Foundation Inc has awarded $4,353,000 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ABBY'S HOUSE INC PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $25,000 |
365Z FOUNDATION INC PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $25,000 |
ASSOCIATION TO PRESERVE CAPE COD PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $50,000 |
BARNSTABLE LAND TRUST PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $40,000 |
BOYS & GIRLS CLUB OF CAPE COD PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $45,000 |
BOYS & GIRLS CLUB OF SOUTH COAST PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $35,000 |