Hermann Foundation Inc
- Assets
- $55.5m
- Revenue
- $8.6m
- Investments
- $53.6m
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 02/2004
- Data as of
- 12/2021
- 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 12/2021, Hermann Foundation Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 4 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 2020, Hermann Foundation Inc has awarded 264 individual grants totaling $14,992,667. 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 |
|---|---|---|---|
Maria Starzyk President/director | 35 | $200,000 | |
Maryann Copeland Treas/sec/director | 20 | $75,000 | |
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 | 12/30/21 | $168,734 |
Ubs Investments | 12/30/21 | $149,745 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13,203 |
| Dividends & Interest | $1,613,217 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,974,749 |
| Capital Gain Net Income | $6,974,749 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,078 |
| Total Revenue | $8,604,247 |
| 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 | $32,617 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $327,269 |
| Total operating and administrative expenses | $693,217 |
| Contributions, gifts, grants paid | $3,949,667 |
| Total expenses and disbursements | $4,642,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,922,395 |
| 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 | $192,095 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $55,517,434 |
| 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 $3,949,667 in support to 60 organizations.
| Grant Recipient | Amount |
|---|---|
Swansea, MA PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $494,000 |
CAPE COD HEALTHCARE FOUNDATION PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $249,667 |
Jamaica Plain, MA PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $200,000 |
West Falmouth, MA PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $200,000 |
HIGHFIELD HALL AND GARDENS FALMOUTH PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $200,000 |
Yucca Valley, CA PURPOSE: ENABLE DONEE TO CONTINUE EXEMPT FUNCTION | $119,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
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 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |