Leonard & Diane Sherman Family Foundation
- Assets
- $35.9m
- Revenue
- $804.1k
- Investments
- $28.1m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2000
- Data as of
- 06/2022
- EIN
- 36-4345181
Organization Overview
Leonard & Diane Sherman Family Foundation is located in Chicago, IL. The organization was established in 2000. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Leonard & Diane Sherman Family 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 06/2022, Leonard & Diane Sherman Family Foundation generated $804.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 45.9% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 17.1% 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, Leonard & Diane Sherman Family Foundation has awarded 58 individual grants totaling $4,925,920. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED TO FOSTER, PROMOTE, SUPPORT, DEVELOP, ENCOURAGE AND MAINTAIN THE BROAD CHARITABLE, EDUCATIONAL AND/OR RELIGIOUS PURPOSE OF, THE JEWISH FEDERATION OF METROPOLITAN CHICAGO, AND THE FOUNDATION AS AUTHORIZED IN THEIR BY-LAWS.
Describe the Organization's Program Activity:
THE FOUNDATION MAKES GRANTS TO CHARITABLE ORGANIZATIONS WHICH ARE TAX EXEMPT UNDER THE IRC SECTION 501(C)(3) AND MEET THE GUIDELINES OF THE CHARTER OF THE JEWISH FEDERATION OF METROPOLITAN CHICAGO & THE BY-LAWS OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Steven B Nasatir Director | Trustee | 0.3 | $0 |
David S Rosen Treasurer | OfficerTrustee | 0.3 | $0 |
Eric Devir Secretary | OfficerTrustee | 0.3 | $0 |
Leonard Sherman President (until 11/21) | OfficerTrustee | 0.3 | $0 |
David A Sherman President | OfficerTrustee | 0.3 | $0 |
Miriam Sherman Vice President | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $736,320 |
| Noncash contributions included in lines 1a–1f | $736,320 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $736,320 |
| Total Program Service Revenue | $0 |
| Investment income | $1,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $65,919 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $804,063 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,758,200 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,412 |
| Fees for services: Other | $9,089 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $18,228 |
| Total functional expenses | $1,832,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,848 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,047,206 |
| Investments—other securities | $28,107,467 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $640,926 |
| Total assets | $35,886,447 |
| Accounts payable and accrued expenses | $10,575 |
| Grants payable | $175,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $600,000 |
| Total liabilities | $785,575 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $35,100,872 |
| Total liabilities and net assets/fund balances | $35,886,447 |
Grants Awarded
Over the last fiscal year, Leonard & Diane Sherman Family Foundation has awarded $1,736,320 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN SOCIETY FOR TECHNION - ISRAEL INSTITUTE OF TECHNOLOGY INC PURPOSE: General Operating Support | $119,000 |
JEWISH NATIONAL FUND - KEREN KAYEMETH LEISRAEL INC PURPOSE: General Operating Support | $286,000 |
JEWISH UNITED FUND OF METROPOLITAN CHICAGO PURPOSE: General Operating Support | $275,540 |
NORTH SUBURBAN SYNAGOGUE BETH EL PURPOSE: General Operating Support | $110,180 |
JEWISH FEDERATION OF METROPOLITAN CHICAGO PURPOSE: General Operating Support | $752,600 |
BIRTHRIGHT ISRAEL FOUNDATION PURPOSE: General Operating Support | $60,000 |