Herrman Family Charitable Foundation
- Assets
- $8.6m
- Revenue
- $178.5k
- Investments
- $7.0m
- Employees
- 0
- Location
- Framingham, MA
- Founding
- 06/2016
- Data as of
- 12/2022
- EIN
- 47-4004605
Organization Overview
Herrman Family Charitable Foundation is located in Framingham, MA. The organization was established in 2016. 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. Herrman Family Charitable 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 12/2022, Herrman Family Charitable Foundation generated $178.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (53.9%) each year. All expenses for the organization totaled $798.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Herrman Family Charitable Foundation has awarded 108 individual grants totaling $1,492,488. 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 |
|---|---|---|---|
Ernest L Herrman Jr President & Director | 1 | $0 | |
Kathleen Darragh Herrman Treasurer & Director | 5 | $0 | |
Richard B Schafer Clerk | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $550 |
| Dividends & Interest | $174,478 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,429 |
| Total Revenue | $178,457 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,883 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51 |
| Total operating and administrative expenses | $4,254 |
| Contributions, gifts, grants paid | $794,648 |
| Total expenses and disbursements | $798,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,450 |
| Savings and temporary cash investments | $1,505,317 |
| Net Accounts receivable | $16,533 |
| 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 | $3,839,051 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,609,094 |
| 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, Herrman Family Charitable Foundation has awarded $794,648 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
FAY SCHOOL PURPOSE: GENERAL CHARITABLE PURPOSES | $10,005 |
PAN MASS CHALLENGE PURPOSE: GENERAL CHARITABLE PURPOSES | $14,458 |
FRAMINGHAM HISTORY CENTER PURPOSE: GENERAL CHARITABLE PURPOSES | $10,250 |
CATHOLIC SCHOOLS FOUNDATION PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
OUT METROWEST PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
GREATER BOSTON PFLAG PURPOSE: GENERAL CHARITABLE PURPOSES | $50,000 |