Herbert Bearman Foundation Inc
- Assets
- $35.3m
- Revenue
- $3.6m
- Investments
- $33.8m
- Employees
- 0
- Location
- Timonium, MD
- Founding
- 10/1998
- Data as of
- 12/2021
- 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 12/2021, Herbert Bearman Foundation Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 1.2% 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 2014, Herbert Bearman Foundation Inc has awarded 682 individual grants totaling $13,082,145. 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 |
|---|---|---|---|
Mark Bearman Chief Operating Officer | 40 | $142,394 | |
Sheldon Bearman President & Treasurer | 20 | $0 | |
Arlene Bearman Vice President & Secretary | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $987,833 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,478,377 |
| Capital Gain Net Income | $2,478,377 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $90,704 |
| Total Revenue | $3,556,914 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $142,394 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $64,794 |
| Interest | $0 |
| Taxes | $14,968 |
| Depreciation | $0 |
| Occupancy | $6,000 |
| Travel, conferences, and meetings | $1,766 |
| Printing and publications | $0 |
| Other expenses | $23,459 |
| Total operating and administrative expenses | $521,918 |
| Contributions, gifts, grants paid | $1,827,280 |
| Total expenses and disbursements | $2,349,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,504,937 |
| 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 | $7,359,388 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $35,333,793 |
| 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 $1,827,280 in support to 90 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: CENTENNIAL ENDOWMENT / ANNUAL CAMPAIGN / COVID RELIEF | $243,510 |
JEWISH FEDERATION OF PALM BEACH CO PURPOSE: HOLOCAUST SURVIVORS MEMORIAL / EMERGENCY CASH ASSISTANCE | $85,000 |
JEWISH COMMUNITY SERVICES PURPOSE: ASSOCIATED JEWISH CHARITIES | $76,000 |
BETH EL CONGREGATION PURPOSE: SYNAGOGUES / ENDOWMENT | $56,200 |
JOHNS HOPKINS UNIVERSITY PURPOSE: COMMUNITY HEALTH | $55,000 |
Bethesda, MD PURPOSE: COMMUNITY HEALTH | $50,067 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |
Laszlo N Tauber Family Foundation Inc North Bethesda, MD | $0 | $1,758,712 |
Breakthrough Prize In Life Sciences Foundation Washington, DC | $615,230 | $10,652,847 |