Sherman Foundation
- Assets
- $27.5m
- Revenue
- $8.4m
- Investments
- $9.6m
- Employees
- 48
- Location
- Newport Beach, CA
- Founding
- 11/1952
- Data as of
- 09/2024
- EIN
- 95-2672431
Organization Overview
Sherman Foundation is located in Newport Beach, CA. The organization was established in 1952. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. As of 09/2024, Sherman Foundation employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 09/2024, Sherman Foundation generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 37.3% each year . All expenses for the organization totaled $3.7m during the year ending 09/2024. While expenses have increased by 14.3% per year over the past 5 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
IN ADDITION TO THE COLLECTIONS AND EXHIBITIONS, THE LIBRARY & GARDENS HOSTS A VARIETY OF PUBLIC AND PRIVATE EVENTS INCLUDING OUTDOOR SCULPTURE DISPLAYS, CONCERTS, HORTICULTURALLY THEMED DINNERS, COMMUNITY MEETINGS, EDUCATIONAL AND WELLNESS CLASSES, LECTURES, CHILDREN'S PROGRAMS, GARDEN TOURS AND FESTIVALS.
Describe the Organization's Program Activity:
SHERMAN GARDENS HAD 97,191 VISITORS, AN INCREASE OF 8% OVER THE PRIOR YEAR. THIS YEAR, THE SHERMAN GARDENS VOLUNTEER ASSOCIATION WORKED 9,915 HOURS AND DOCENTS WORKED 3,403 HOURS. SHERMAN GARDENS REINSTITUTED EDUCATIONAL TOURS OF THE BOTANICAL GARDENS FOR SCHOOL CHILDREN IN GRADES 3 THROUGH 5 BUSED IN FROM ALL PARTS OF ORANGE COUNTY, CA. STUDENTS FROM FORTY THREE ELEMENTARY SCHOOLS (1,620 STUDENTS) TOOK PART IN OUR FIELD TRIP PROGRAM. LESSON PLANS WERE DEVELOPED FOR THE DAY PRIOR TO THE TOUR AND FOR THE DAY AFTER THE TOUR. TRANSPORTATION COSTS WERE FUNDED BY SHERMAN GARDENS THROUGH DONATIONS.SHERMAN LIBRARY PARTNERED WITH A LOCAL ART MUSEUM FOR AN EXHIBIT OF SHERMAN LIBRARY & GARDEN'S ART COLLECTION. THREE SEPARATE ART EXHIBITS WERE CONDUCTED AT SHERMAN LIBRARY THAT FOCUSED ON THE HISTORY OF SOUTHERN CALIFORNIA. HISTORICAL RESEARCHERS UTILIZED 2,560 RECORDS AND ARTIFACTS FROM SHERMAN LIBRARY AND OUR PHOTO DATABASE HAD OVER 23,040 VIEWS.
SHERMAN LIBRARY HAD 23,040 VIEWS OF OUR HISTORICAL PHOTO DATABASE, AND 2,560 RECORDS AND ARTIFACTS ACCESSED BY RESEARCHERS. THE LIBRARY HAD OVER 5,100 VISITORS DURING THE YEAR. OUR STAFF ASSISTED 548 SERIOUS RESEARCHERS IN THEIR STUDY OF THE HISTORY OF THE PACIFIC SOUTHWEST, WHICH IS THE MAIN FOCUS OF THE LIBRARY. VOLUNTEERS WORKED 1,209 HOURS, DOCENTS WORKED 460 HOURS AND INTERNS WORKED 400 HOURS AT THE LIBRARY. EACH CATEGORY EXCEEDED THE PRIOR YEAR. SHERMAN LIBRARY RECEIVED ADDITIONAL PIECES OF EARLY CALIFORNIA IMPRESIONIST ART FROM A DONOR WHO PREVIOUSLY DONATED 40 PAINTINGS THAT SHERMAN LIBRARY RESTORED AND DISPLAYED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Pickett President | OfficerTrustee | 15 | $0 |
A Scott Lafleur Exec Dir-Sl&g | 40 | $317,041 | |
Kyle Cheesborough Garden Director | 40 | $169,979 | |
Jill Thrasher Dir Of Library | 40 | $106,209 | |
Dt Daniels Trustee | Trustee | 1 | $0 |
Tim Collins Treasurer | OfficerTrustee | 4 | $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 | $5,745,322 |
| Noncash contributions included in lines 1a–1f | $78,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,745,322 |
| Total Program Service Revenue | $423,883 |
| Investment income | $1,249,487 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,350 |
| Net Rental Income | $399,712 |
| Net Gain/Loss on Asset Sales | $144,775 |
| Net Income from Fundraising Events | $152,651 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $291,438 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,408,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $1,834,037 |
| Pension plan accruals and contributions | $42,669 |
| Other employee benefits | $117,550 |
| Payroll taxes | $137,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,447 |
| Fees for services: Accounting | $43,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $81,555 |
| Fees for services: Investment Management | $53,815 |
| Fees for services: Other | $39,000 |
| Advertising and promotion | $109,307 |
| Office expenses | $105,195 |
| Information technology | $56,804 |
| Royalties | $0 |
| Occupancy | $708,898 |
| Travel | $33,931 |
| 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 | $23,337 |
| Insurance | $64,417 |
| All other expenses | $7,469 |
| Total functional expenses | $3,729,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,518 |
| Savings and temporary cash investments | $65,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,079,990 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $67,927 |
| Prepaid expenses and deferred charges | $40,983 |
| Net Land, buildings, and equipment | $1,744,170 |
| Investments—publicly traded securities | $12,790,644 |
| Investments—other securities | $9,621,892 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,133,798 |
| Total assets | $27,547,436 |
| Accounts payable and accrued expenses | $121,552 |
| 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 | $56,773 |
| Total liabilities | $178,325 |
| Net assets without donor restrictions | $27,369,111 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $27,547,436 |