Michael T Sherman Foundation
- Assets
- $3.3m
- Revenue
- $637.3k
- Investments
- $3.0m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 02/2011
- Data as of
- 12/2021
- EIN
- 27-3842131
Organization Overview
Michael T Sherman Foundation is located in Boston, MA. The organization was established in 2011. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Michael T Sherman Foundation 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, Michael T Sherman Foundation generated $637.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.1% each year . All expenses for the organization totaled $303.2k during the year ending 12/2021. While expenses have increased by 13.0% 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 2015, Michael T Sherman Foundation has awarded 174 individual grants totaling $1,414,387. 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 |
|---|---|---|---|
Arthur B Page Trustee | 0.5 | $12,215 | |
Nancy B Gardiner Trustee | 0.1 | $12,215 | |
Mark Mccloskey Trustee | 0.2 | $3,000 | |
Lee Bodock Trustee | 0.2 | $3,000 | |
Michael T Sherman Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $246,238 |
| Interest on Savings | $0 |
| Dividends & Interest | $76,965 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $313,446 |
| Capital Gain Net Income | $314,141 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $661 |
| Total Revenue | $637,310 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,430 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,570 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $139 |
| Total operating and administrative expenses | $60,237 |
| Contributions, gifts, grants paid | $243,000 |
| Total expenses and disbursements | $303,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $245,342 |
| 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 | $200,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,260,970 |
| 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, Michael T Sherman Foundation has awarded $243,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
TRAVIS ROY FOUNDATION PURPOSE: GENERAL PURPOSE | $20,000 |
Boston, MA PURPOSE: GENERAL PURPOSE | $16,500 |
EVERYTOWN FOR GUN SAFETY SUPPORT FUND PURPOSE: GENERAL PURPOSE | $14,000 |
CENTER FOR CITIZEN LEADERSHIP DBA THE MISSION CONTINUES PURPOSE: GENERAL PURPOSE | $14,000 |
Watertown, MA PURPOSE: GENERAL PURPOSE | $14,000 |
NEADS PURPOSE: GENERAL PURPOSE | $14,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peoples United Community Foundation Bridgeport, CT | $0 | $2,660,856 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Oneworld Boston Inc Woburn, MA | $219,473,176 | $23,349,707 |
Deloitte Foundation Stamford, CT | $61,773,232 | $17,876,963 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Brooklyn Community Foundation Brooklyn, NY | $117,862,940 | $42,787,989 |
The@macmillan Family Foundation Inc New York, NY | $313,323,783 | $55,336,840 |