Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
26 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
4 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Invests in and supports educational equity.
This section is blank until Schermco Foundation INC claims this page.
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Increase educational equity by investing in supporting organizations through family empowerment, strategic implementation services, and workforce development
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $276K | $305K |
| Total assetsLn 16 | $321K | $549K |
| LiabilitiesLn 26 | $14K | $225K |
| Net assetsLn 32 | $307K | $324K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $44K | $44K | ||
| Pension plan contributionsLn 8 | $1K | $1K | ||
| Other employee benefitsLn 9 | $5K | $5K | ||
| Payroll taxesLn 10 | $4K | $4K | ||
| Management feesLn 11a | $8K | $8K | ||
| Accounting feesLn 11c | $3K | $3K | ||
| Other fees for servicesLn 11g | $360 | $360 | ||
| Office expensesLn 13 | $117 | $117 | ||
| Information technologyLn 14 | $438 | $438 | ||
| OccupancyLn 16 | $1K | $1K | ||
| TravelLn 17 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $24K | $24K | $606 | |
| All other expensesLn 24e | $133 | $133 | ||
| Total functional expensesLn 25 | $93K | $82K | $12K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $350K | $312K | $37K | $307K | 990 PDF |
| FY2023 | $246K | $160K | $86K | $270K | 990 PDF |
| FY2022 | $120K | $184K | 990 PDF | ||
| FY2021 | $114K | $97K | 990 PDF | ||
| FY2020 | $51K | $48K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $110,457 across 5 lines filed
Part IX · Statement of functional expenses $93,482 across 13 lines filed
Part X · Balance sheet $549,472 assets, 10 lines filed
Part XI · Reconciliation of net assets $324,074 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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