Nonprofit · EIN 13-6098464
SCHERMAN FOUNDATION INC
Tax-exempt · NEW YORK, NY 10022
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $13,319,729 | $9,456,059 | $3,863,670 | $111,698,013 | $0 | $111,698,013 |
| December 31, 2023 | 990-PF | $8,828,702 | $9,630,177 | -$801,475 | $107,834,343 | $0 | $107,834,343 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $2,309,384
- Interest
- $82,961
- Net gain from sales of assets
- $10,097,666
- Other income
- $829,718
Expenses
- Grants and similar amounts paid
- $6,720,617
- Compensation of officers, directors and key employees
- $334,718
- Salaries, compensation and benefits (total)
- $519,387
- Disbursements for charitable purposes
- $8,132,024
- Excise tax on investment income
- $168,837
Balance sheet and other
- Total assets, start of year
- $107,834,343
- Total assets, end of year
- $111,698,013
- Total liabilities, end of year
- $0
- Net assets, end of year
- $111,698,013
- Fair market value of assets
- $139,123,141
- Qualifying distributions
- $8,132,024
- Net investment income
- $13,271,207
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MITCHELL C PRATT 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PRESIDENT & CEO | 40 | $334,718 | $88,747 |
| GISELA ALVAREZ 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PROGRAM DIRECTOR Highest-paid employee | 40 | $200,000 | $31,440 |
| CATHERINE PORTER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR OF OPERATIO Highest-paid employee | 40 | $138,886 | $59,419 |
| NAICHE PARKER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PROG. OFFICER/RACIAL Highest-paid employee | 40 | $106,000 | $34,674 |
| SAMANTHA STERN 17 E 52ND ST STE 601, NEW YORK, NY 100225307 | GRANTS MANAGER & ADM Highest-paid employee | 40 | $74,500 | $29,059 |
| ALEXIS ANDERSON-REED 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| RINI BANERJEE 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, TREASURER | 2 | $0 | $0 |
| AMY BERGTOLD 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MIRIAM BUHL 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| STEVEN K CHOI 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| RASU JILANI 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MILES S RAPOPORT 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MARIANNA SCHAFFER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, CHAIR | 2 | $0 | $0 |
| DR PETER K SOLLINS 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, SECRETARY | 2 | $0 | $0 |
990-PF for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MITCHELL C PRATT 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PRESIDENT & CEO | 40 | $323,541 | $83,467 |
| GISELA ALVAREZ 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PROGRAM DIRECTOR Highest-paid employee | 40 | $190,000 | $31,531 |
| CATHERINE PORTER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR OF OPERATIO Highest-paid employee | 40 | $130,368 | $59,989 |
| NAICHE PARKER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | PROG. OFFICER/RACIAL Highest-paid employee | 40 | $100,000 | $35,681 |
| SAMANTHA STERN 17 E 52ND ST STE 601, NEW YORK, NY 100225307 | GRANTS MANAGER & ADM Highest-paid employee | 40 | $66,244 | $21,406 |
| ALEXIS ANDERSON-REED 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| IBRAHIM ABDUL-MATIN 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR (DECEASED JUNE 22, 2023) | 2 | $0 | $0 |
| RINI BANERJEE 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, TREASURER | 2 | $0 | $0 |
| AMY BERGTOLD 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MIRIAM BUHL 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| STEVEN K CHOI 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| RASU JILANI 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MILES S RAPOPORT 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR | 2 | $0 | $0 |
| MARIANNA SCHAFFER 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, CHAIR | 2 | $0 | $0 |
| DR PETER K SOLLINS 16 E 52ND ST STE 601, NEW YORK, NY 100225306 | DIRECTOR, SECRETARY | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 16 E 52ND ST STE 601, NEW YORK, NY 10022-5306
- Signed the 990-PF
- MITCHELL PRATT, PRESIDENT
- Phone
- (212) 832-3086
- Website
- WWW.SCHERMAN.ORG
- Return prepared by
- PKF O'CONNOR DAVIES ADVISORY LLC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 13-6098464
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1943
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $111,698,013
- Income (IRS master file)
- $22,432,732
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $13,319,729 | $9,456,059 | $111,698,013 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $8,828,702 | $9,630,177 | $107,834,343 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-6098464).
Questions about SCHERMAN FOUNDATION INC
- What is the EIN of SCHERMAN FOUNDATION INC?
- The employer identification number (EIN) of SCHERMAN FOUNDATION INC is 13-6098464.
- Is SCHERMAN FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1943.
- Are donations to SCHERMAN FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does SCHERMAN FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of SCHERMAN FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SCHERMAN FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of SCHERMAN FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 14 people; 5 received compensation from the organization, the highest $334,718 (MITCHELL C PRATT, PRESIDENT & CEO).
- How much revenue does SCHERMAN FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $13,319,729, expenses of $9,456,059 and total assets of $111,698,013 at year end.
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