Sherman Foundation FY2023 filing

Tax-deductible

Newport Beach, CA501(c)(3)Since 1951EnvironmentEIN 95-2672431Revenue $5.3M in FY2023

On file with the IRSthesherman.org4000 Macarthur Blvd Ste 105, 92660-2517 · Newport Beach, CATax-exempt since Nov 1952Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$502K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $1.4M a year · 33% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$502K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $392K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$154K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.3M
+78% vs prior year
Spent
$3.4M
To programs
84%
Net assets
$22.7M
By yearFY2020–FY2024
Revenue
$5.3M
FY2023▲ +78%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$2.1M
FY2022$3.0M
FY2023$5.3M
FY2024$8.4M
Expenses
$3.4M
FY2023▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.9M
FY2021$2.1M
FY2022$2.6M
FY2023$3.4M
FY2024$3.7M
Net assets
$22.7M
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.4M
FY2021$20.4M
FY2022$20.8M
FY2023$22.7M
FY2024$27.4M

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1952.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $2.8M Management & general 4% · $140K Fundraising 12% · $417K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $502K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Exec Dir-Sl&g
$253,000Pt VII · Sec A
Garden Director
$157,500Pt VII · Sec A
Dir of Advancement
$91,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
President
$0Pt VII · Sec A

A Scott Lafleur’s $317K as Exec Dir-Sl&g is at the 98th percentile of top reported officer pay among 1851 $1–10M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
A Scott Lafleur$317,041$253,000$225,000$185,000$154,200
Kyle Cheesborough$169,979$157,500$131,250——
Paul Wormser———$158,500$153,700
Jill Thrasher$106,209————
Jennifer Granger—$91,000———
Julie Pedersen——$32,550$44,550$42,300

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Hosts diverse events like concerts, classes, and festivals, alongside collections and exhibitions.

Questions for Sherman Foundation

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Provided by the organization

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2 programs · $2.8M · in their own filed words · FY2022
01

Sherman gardens had 90,005 visitors, an increase of 17% over the prior year. The sherman gardens volunteer association and docents worked 10,800 hours, an increase of 47% over the prior year.

$2.6Mprogram expense
02

Sherman library had 5,080 visitors, an increase of 23.8% over the prior year. Our staff assisted 528 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 140 hours and interns worked 190 hours at the library.

$278Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.3M
Ln 12
Gifts and grantsLn 1h$3.3M
Investment incomeLn 3$879K
Other incomeLn 4–11$729K
Money outPt IX
$3.4M
Ln 25
Programscol B$2.8M
Managementcol C$140K
Fundraisingcol D$417K
Owns and owesPt X
$22.7M
net assets · Ln 32
Cash and savingsLn 1–2$175K
Total assetsLn 16$22.8M
LiabilitiesLn 26$154K
PeoplePt VI, VII
11
listed · VII A
PaidVII A3
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.3M
Fees for servicesLn 2g$400K
Investment incomeLn 3$879K
Other incomeLn 4–11$729K
Gains on assetsLn 7−$88K
Total revenueLn 12$5.3M
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$173K
Cash and savings togetherLn 1–2$175K
InvestmentsLn 11–13$19.2M
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$640K
Total assetsLn 16$22.8M
LiabilitiesLn 26$154K
Net assetsLn 32$22.7M
OperationsPt I, VI
EmployeesI 533
VolunteersI 6125
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$22K$175K
InvestmentsLn 11–13$18.8M$19.2M
Land, buildings, equipmentLn 10c$1.7M$1.7M
Total assetsLn 16$21.0M$22.8M
LiabilitiesLn 26$178K$154K
Net assetsLn 32$20.8M$22.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.7M$1.5M$123K
Pension plan contributionsLn 8$36K$36K
Other employee benefitsLn 9$93K$93K
Payroll taxesLn 10$127K$118K$10K
Management feesLn 11a$0
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$65K$65K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$189K$189K
Investment management feesLn 11f$53K$53K
Other fees for servicesLn 11g$3K$90$3K
Advertising and promotionLn 12$62K$62K
Office expensesLn 13$164K$164K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$570K$570K
TravelLn 17$23K$23K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$57K$57K
InsuranceLn 23$60K$43K$18K
Other expenses (24a–d)Ln 24$202K$111K$92K
All other expensesLn 24e$15K$15K
Total functional expensesLn 25$3.4M$2.8M$140K$417K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.4M$3.7M$4.7M$27.4M 990 PDF
FY2023 Viewing $5.3M$3.4M$1.9M$22.7M 990 PDF
FY2022 $3.0M$2.6M$382K$20.8M 990 PDF
FY2021 $2.1M$2.1M$6K$20.4M 990 PDF
FY2020 $1.7M$1.9M−$189K$20.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $5,293,708 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,018,674$3,285,619
I-9 Program service revenuePrior year $403,323$400,454
I-10 Investment incomePrior year $816,585$878,855
I-11 Other revenuePrior year $728,414$728,780
I-12 Total revenuePrior year $2,966,996$5,293,708
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,543,895$1,927,319
I-16a Professional fundraising feesPrior year $83,349$189,447
I-17 Other expensesPrior year $957,355$1,281,276
I-18 Total expensesPrior year $2,584,599$3,398,042
I-19 Revenue less expensesPrior year $382,397$1,895,666
Part VI · Governance 6 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,293,708 across 10 lines filed
Lines not itemized here account for $255,769 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$3,285,619
VIII-1h Total contributions, gifts and grants$3,285,619
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,454$400,454
VIII-3 Investment incomeExcluded from tax $966,988$966,988
VIII-5 RoyaltiesExcluded from tax $1,423$1,423
VIII-6 Net rental income or lossRelated to mission $372,970$372,970
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$88,133−$88,133
VIII-8 Net income from fundraising events$97,965
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $653$653
VIII-12 Total revenueRelated to mission $774,077 · Unrelated business $255,769 · Excluded from tax $880,278$5,293,708
Part IX · Statement of functional expenses $3,398,042 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $1,547,336 · Fundraising $123,300$1,670,636
IX-8 Pension plan contributionsPrograms $36,032$36,032
IX-9 Other employee benefitsPrograms $93,486$93,486
IX-10 Payroll taxesPrograms $117,620 · Fundraising $9,545$127,165
IX-11a Management fees$0
IX-11b Legal feesManagement $4,647$4,647
IX-11c Accounting feesManagement $65,000$65,000
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $189,447$189,447
IX-11f Investment management feesManagement $52,900$52,900
IX-11g Other fees for servicesManagement $90 · Fundraising $3,000$3,090
IX-12 Advertising and promotionPrograms $62,394$62,394
IX-13 Office expensesPrograms $164,458$164,458
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $570,368$570,368
IX-17 TravelPrograms $23,203$23,203
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $57,479$57,479
IX-23 InsurancePrograms $42,874 · Management $17,584$60,458
IX-24 Other expenses (24a–d)Programs $110,596 · Fundraising $91,626$202,222
IX-24e All other expensesPrograms $15,057$15,057
IX-25 Total functional expensesPrograms $2,840,903 · Management $140,221 · Fundraising $416,918$3,398,042
Part X · Balance sheet $22,843,748 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $2,518$2,518
X-2 Savings and temporary cash investmentsStart of year $19,617$172,736
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $33,418$1,085,977
X-8 Inventories for sale or useStart of year $89,626$54,878
X-9 Prepaid expenses and deferred chargesStart of year $33,363$29,433
X-10c Land, buildings and equipment, netStart of year $1,734,963$1,684,222
X-11 Publicly traded securitiesStart of year $9,215,595$9,552,410
X-12 Other securitiesStart of year $9,621,892$9,621,892
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $220,794$639,682
X-16 Total assetsStart of year $20,971,786$22,843,748
X-17 Accounts payable and accrued expensesStart of year $148,839$133,869
X-25 Other liabilitiesStart of year $28,724$19,987
X-26 Total liabilitiesStart of year $177,563$153,856
X-27 Net assets without donor restrictionsStart of year $20,794,223$22,689,892
X-32 Total net assets or fund balancesStart of year $20,794,223$22,689,892
X-33 Total liabilities and net assetsStart of year $20,971,786$22,843,748
Part XI · Reconciliation of net assets $22,689,892 net assets at year end
XI-1 Total revenue$5,293,708
XI-2 Total expenses$3,398,042
XI-3 Revenue less expenses$1,895,666
XI-4 Net assets at start of year$20,794,223
XI-9 Other changes in net assets$3
XI-10 Net assets at end of year$22,689,892

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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