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Nonprofit · EIN 31-1602562

HERBERT BEARMAN FOUNDATION INC

Tax-exempt · OWINGS MILLS, MD 21117

Financials

$897K$2.5M2023$3M$2.5M2024
Revenue Expenses · by fiscal year end
Financials of HERBERT BEARMAN FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF$3,046,327$2,455,785$590,542$33,558,416$0$33,558,416
December 31, 2023990-PF$896,810$2,486,774-$1,589,964$32,169,305$0$32,169,305
Financial details: 990-PF for the year ended December 31, 2024

Revenue

Dividends
$1,292,148
Interest
$880
Net gain from sales of assets
$1,624,632
Other income
$128,667

Expenses

Grants and similar amounts paid
$1,851,875
Compensation of officers, directors and key employees
$161,504
Disbursements for charitable purposes
$2,128,917
Excise tax on investment income
$36,738

Balance sheet and other

Total assets, start of year
$32,967,874
Total assets, end of year
$33,558,416
Total liabilities, end of year
$0
Net assets, end of year
$33,558,416
Fair market value of assets
$47,891,933
Qualifying distributions
$2,128,917
Net investment income
$2,969,898

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.

NameTitleHours / weekCompensationOther / benefits
MARK BEARMAN
11813 GREENSPRING AVENUE, OWINGS MILLS, MD 21117
COO40$161,504$15,000
SHELDON BEARMAN
7546 HAWKS LANDING DRIVE, WEST PALM BEACH, FL 33412
President20$0–
ARLENE BEARMAN
7546 HAWKS LANDING DRIVE, WEST PALM BEACH, FL 33412
Vice Pres.15$0–
990-PF for the year ended December 31, 2023: 3 people
NameTitleHours / weekCompensationOther / benefits
MARK BEARMAN
3003 MASTERS DRIVE, BALTIMORE, MD 21209
CHIEF OPERATING OFFICER40$157,412$15,400
SHELDON BEARMAN
7546 HAWKS LANDING DRIVE, WEST PALM BEACH, FL 33412
PRESIDENT & TREASURER20$0$0
ARLENE BEARMAN
7546 HAWKS LANDING DRIVE, WEST PALM BEACH, FL 33412
VICE PRESIDENT & SECRETARY15$0$0

Address and contacts

Address (IRS master file)
11813 GREENSPRING AVE, OWINGS MILLS, MD 21117-1657
In care of
% MARK BEARMAN
Signed the 990-PF
MARK BEARMAN, COO
Phone
(410) 215-8027
Return prepared by
Strauss & Associates PA

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
31-1602562
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
1998
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$33,558,416
Income (IRS master file)
$18,999,946

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024$3,046,327$2,455,785$33,558,416XML
990-TDecember 2024–––IRS
990-PFDecember 2023$896,810$2,486,774$32,169,305XML
990-TDecember 2023–––IRS
990-PFDecember 2022–––IRS
990-TDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-TDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-TDecember 2020–––IRS
990-PFDecember 2018–––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 31-1602562).

Questions about HERBERT BEARMAN FOUNDATION INC

What is the EIN of HERBERT BEARMAN FOUNDATION INC?
The employer identification number (EIN) of HERBERT BEARMAN FOUNDATION INC is 31-1602562.
Is HERBERT BEARMAN FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
Are donations to HERBERT BEARMAN FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does HERBERT BEARMAN FOUNDATION INC file?
Form 990-PF. Private foundations file every year.
When is the next return of HERBERT BEARMAN 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 HERBERT BEARMAN 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 HERBERT BEARMAN FOUNDATION INC?
The 990-PF for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $161,504 (MARK BEARMAN, COO).
How much revenue does HERBERT BEARMAN FOUNDATION INC have?
On its 990-PF for the year ended December 31, 2024 it reported revenue of $3,046,327, expenses of $2,455,785 and total assets of $33,558,416 at year end.

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