Bruce and Cynthia Sherman
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.
Key facts about Bruce and Cynthia Sherman
- EIN
- 05-0629744
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $1,136,110
- Grants made (2024)
- 21
- Average grant
- $54,100
- Median grant
- $8,700
- New grantees (estimate)
- 50% first-time grantees (9 of 18, 2024)
- Total assets
- $26,208,582
- Primary geography
- Virginia (44% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Bruce and Cynthia Sherman funds
By grant dollars, the top recipient states for Bruce and Cynthia Sherman's 21 itemized 2024 grants were Virginia (44%), Massachusetts (22%) and California (9%). The most frequent recipient cities were New York, NY (6 grants) and Boca Raton, FL (2 grants). 62% of grants with a stated purpose were for general or operating support.
Is Bruce and Cynthia Sherman open to new grantees?
50%
first-time grantees, 2024
In 2024, 9 of 18 grantees (50%) were first-time recipients. First grants averaged $65K; repeat grants $36K. How we count
Medians: $5K first-time, $4K repeat.
- 33% of 2024 grantees were also funded in 2023. Method
- Giving grew 45% from 2021 to 2024. Method
- In 2024 it paid out 114% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Bruce and Cynthia Sherman
- How to evaluate Bruce and Cynthia Sherman as a funder
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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
21
-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.
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.
Ready to take the next step with Bruce and Cynthia Sherman?
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
Share of all 21 itemized 2024 grant dollars.
States
Cities
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.
| 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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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 recipients include Horatio Alger Association of Distinguished Americans ($500,000), WGBH Educational Foundation ($250,000), Dermot McGovern ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS Alexandria, VA | GENERAL | $500,000 |
| WGBH EDUCATIONAL FOUNDATION Boston, MA | GENERAL | $250,000 |
| DERMOT MCGOVERN Los Angeles, CA | SHERMAN PRIZE AWARD | $100,000 |
| MILLIE LONG BARITT Chapel Hill, NC | SHERMAN PRIZE AWARD | $100,000 |
| PINE CREST SCHOOL Fort Lauderdale, FL | EDUCATIONAL | $50,000 |
| THE NAGEN PROJECT Bloomfield, CT | GENERAL | $50,000 |
| JORDAN AXELRAD Melville, NY | SHERMAN PRIZE EMERGING LEADER AWARD | $25,000 |
| SECOND ROUND FOUNDATION Mullica Hill, NJ | GENERAL | $10,000 |
| SUTTON PLACE SYNAGOGUE New York, NY | ANNUAL GALA | $10,000 |
| UJA FEDERATION New York, NY | GENERAL | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS 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
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 2025Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Bruce and Cynthia Sherman fund?
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.
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.
What is Bruce and Cynthia Sherman's EIN?
Bruce and Cynthia Sherman's EIN (Employer Identification Number) is 05-0629744. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.