Leonard & Diane Sherman Family Foundation
- Assets
- $31.0m
- Revenue
- $531.7k
- Investments
- $30.2m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2000
- Data as of
- 06/2020
- 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 06/2020, Leonard & Diane Sherman Family Foundation generated $531.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 45.0% each year . All expenses for the organization totaled $497.6k during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Leonard & Diane Sherman Family Foundation has awarded 61 individual grants totaling $4,088,600. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
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:
Part 3 - Line 4a
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 |
|---|---|---|---|
David S Rosen Treasurer | OfficerTrustee | 0.3 | $0 |
Eric Devir Secretary | OfficerTrustee | 0.3 | $0 |
Leonard Sherman President | OfficerTrustee | 0.3 | $0 |
David A Sherman Vice President | OfficerTrustee | 0.3 | $0 |
James A Pinkston Assistant Treasurer | Officer | 0.3 | $0 |
Dr Steven B Nasatir Director (see Sch. J, Part Iii) | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $470,000 |
| Investment income | $4,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,745 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $531,669 |
| Statement of Expenses | |
|---|---|
| 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 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 | $4,350 |
| Fees for services: Accounting | $10,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,977 |
| Fees for services: Other | $0 |
| 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 | $0 |
| Total functional expenses | $497,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $520,321 |
| Investments—other securities | $30,154,756 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $282,152 |
| Total assets | $30,957,229 |
| Accounts payable and accrued expenses | $10,300 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $10,300 |
| 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 |
| Total liabilities and net assets/fund balances | $30,946,929 |
Grants Awarded
Over the last fiscal year, Leonard & Diane Sherman Family Foundation has awarded $591,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: General Operating Support | $362,000 |
New York, NY PURPOSE: General Operating Support | $118,000 |
Chicago, IL PURPOSE: General Operating Support | $50,000 |
New York, NY PURPOSE: General Operating Support | $36,500 |
New York, NY PURPOSE: General Operating Support | $15,000 |
Rancho Mirage, CA PURPOSE: General Operating Support | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Leonard & Diane Sherman Family Foundation has recieved totaling $940,000.
| Awarding Organization | Amount |
|---|---|
Jewish Federation Of Metropolitan Chicago Chicago, IL PURPOSE: Grants from Donor Advised Funds - Operating Support | $470,000 |
Jewish Federation Of Metropolitan Chicago Chicago, IL PURPOSE: Grants from Donor Advised Funds - Operating Support | $470,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gift Clearing Trust Indianapolis, IN | $47,036,280 | $91,256,862 |
Sojourner Foundation Inc Milwaukee, WI | $5,493,853 | $4,205,530 |
Bloomington-Normal Ymca Charitable Foundation Nfp Bloomington, IL | $12,002,532 | $7,012,515 |
Moose Foundation Inc Mooseheart, IL | $261,014,797 | $19,670,612 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
West Bend Community Foundation Inc Milwaukee, WI | $79,149,428 | $10,575,689 |
Glasser And Rosenthal Family Foundation Chicago, IL | $0 | $604,291 |
Arthur Dean Family Foundation Inc Fishers, IN | $75,273,545 | $2,866,490 |
Real Estate Charitable Foundation Kansas City, MO | $43,935,265 | $4,204,580 |
Barbara Mettler Personal Tr Champaign, IL | $0 | $38,620 |
Friends Of Penfield Childrens Center Inc Milwaukee, WI | $8,290,252 | $2,579,522 |
Shure Charitable Tr Created Uw Of Sidney N Shure Chicago, IL | $52,599,907 | $2,093,307 |