Bruce and Cynthia Sherman

WEST PALM BEACH, FL EIN: 05-0629744

The Bruce and Cynthia Sherman Charitable Foundation is a private foundation based in West Palm Beach, Florida, established in 2006. The foundation operates as a 501(c)(3) organization and maintains significant assets to support its grantmaking activities across multiple focus areas.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$26.2M

+10.2% YoY

Annual Giving

$1.1M

+39.8% YoY

Grant Count

-8.7% YoY

Avg Grant Size

$54K

+53.1% YoY

Under IRS private-foundation payout rules, Bruce and Cynthia Sherman reported a distributable amount of $1.3M for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's grantmaking priorities include education, health and medical initiatives, community health, human services, and philanthropy. The foundation also administers the Sherman Prize, a recognition program that honors emerging leaders and distinguished achievements in specific fields.

Grantmaking

The foundation made 16 grants in 2024, with total giving of $1,136,110. Typical grant awards range from $200,000 to $1,000,000.

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Geographic Focus

Where this funder awards grants

The foundation's grantmaking is concentrated in New York, Florida, and New Jersey, with a particular presence in the West Palm Beach area.

Grant Distribution by State

Florida $2.0M (38%)

Massachusetts $967K (18%)

New York $848K (16%)

Virginia $550K (10%)

California $326K (6%)

Illinois $125K (2%)

North Carolina $125K (2%)

Missouri $100K (2%)

+8 more states

States

California Connecticut Florida Georgia Illinois Indiana Massachusetts Minnesota Missouri North Carolina New Hampshire New Jersey New York Pennsylvania Rhode Island Virginia

Cities

AlexandriaAtlantaBloomfieldBoca RatonBostonBurlingameCambridgeChapel HillChicagoDedhamDeerfield BeachDelray BeachDullesE BrunswickEvansvilleFort LauderdaleFreeholdGreenvaleHanoverKingston

Financial History

Multi-year comparison from IRS filings

As of 2024:

Total Assets: $26,208,582
Total Revenues: $3,923,555
Total Expenses: $1,508,098
Total Giving: $1,136,110

The foundation maintains no employees and operates with a lean administrative structure.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$26,208,582	$23,793,125	$22,450,483
Revenue	$3,923,555	$2,484,682	$95,044
Expenses	$1,508,098	$1,142,040	$1,699,975
Qualifying Distributions	$1,460,573	$1,122,330	$1,678,932
Net Investment Income	$3,847,043	$2,372,690	$287,675
Distributable Amount	$1,278,945	$1,178,563	$1,191,011

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

100 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Horatio Alger Association of Distinguished Americans ($500,000), Wgbh Educational Foundation ($250,000), Dermot Mcgovern ($100,000).

Recipient	Purpose	Amount
ABRAHAM JOSHUA HESCHEL SCHOOL NEW YORK, NY	GENERAL	$200
AMERICAN NUMISMATIC SOCIETY NEW YORK, NY	EDUCATIONAL	$250
CENTRAL SYNAGOGUE NEW YORK, NY	RELIGIOUS	$8,700
DERMOT MCGOVERN LOS ANGELES, CA	SHERMAN PRIZE AWARD	$100,000
FRIENDS OF YASHAR LACHAYAL E BRUNSWICK, NJ	GENERAL	$2,500
GLEN OAKS PHILANTROPIC FUND OLD WESTBURY, NY	GENERAL	$750
HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS ALEXANDRIA, VA	GENERAL	$500,000
JEWISH ASSOCIATION FOR RESIDENTIAL CARE FLORIDA BOCA RATON, FL	MEDICAL	$5,000
JEWISH FAMILY & CHILDREN'S SERVICE WALTHAM, MA	GENERAL	$1,500
JORDAN AXELRAD MELVILLE, NY	SHERMAN PRIZE EMERGING LEADER AWARD	$25,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
BRUCE S SHERMAN	PRESIDENT	10	—
CYNTHIA L SHERMAN	TREASURER	10	—
DANIEL SHERMAN	CLERK	5	—

Recent News & Activity

Recent developments and announcements

2023

The foundation actively administers the Sherman Prize program, which recognizes achievement and emerging leadership. The foundation announced nominations and awards for the Sherman Prize in 2023, 2024, and 2025, indicating ongoing commitment to this recognition initiative.

Bruce and Cynthia Sherman Foundation Now Accepting Nominations for the 2025

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Bruce and Cynthia Sherman fund?

How do I apply for a grant from Bruce and Cynthia Sherman?

The foundation made 16 grants in 2024, with total giving of $1,136,110. Typical grant awards range from $200,000 to $1,000,000. Recent notable grants include: • Horatio Alger Association of Distinguished Americans: $500,000 (2024) • WGBH Educational Foundation: $250,000 (2024) • Pine Crest School: $50,000 (2024) The foundation supports both general operating support and program-specific funding. It has provided grants to organizations including Fidelity Investments Charitable Gift Fund and main…

Where does Bruce and Cynthia Sherman make grants?

The foundation's grantmaking is concentrated in New York, Florida, and New Jersey, with a particular presence in the West Palm Beach area.

What size grants does Bruce and Cynthia Sherman award?

In 2024, Bruce and Cynthia Sherman awarded 21 grants totaling $1.1M — an average of about $54K per grant, based on its IRS Form 990 filings.

How much is Bruce and Cynthia Sherman required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Bruce and Cynthia Sherman reported a distributable amount of $1.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.