Sherman Family Foundation
The Sherman Family Foundation is a private foundation based in Baltimore, Maryland, established in 1995 by George and Betsy Sherman. The foundation makes long-term, strategic investments in programs that help vulnerable, economically disadvantaged children and families in Baltimore achieve better outcomes across all aspects of their lives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$73.3M
-16.2% YoY
Annual Giving
$19.0M
-1.6% YoY
Grant Count
118
+11.3% YoY
Avg Grant Size
$161K
-11.6% YoY
Under IRS private-foundation payout rules, Sherman Family Foundation reported a distributable amount of $4.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation is inspired to improve the lives of young people and families in Baltimore. George and Betsy Sherman hold a profound belief in the power of education to create better opportunities, stronger communities, and stronger families.
The foundation prioritizes three main funding areas:
Early Childhood — Expanding early learning, promoting infant and maternal health, and supporting families
K-12 Education — Improving outcomes in schools and expanding opportunities, with particular emphasis on STEM and math education as well as educator pipelines
Children, Youth, and Families — Supporting children and young families and promoting opportunities for youth
Grantmaking
The foundation made 106 awards in 2023 with an average grant size of approximately $182,000. However, grant sizes vary significantly, ranging from $500 to $7 million. The median grant is $25,000 to $40,000.
Grant Range
of approximately $182,000. However, grant sizes vary significantly, ranging from $500 to $7 million. The median grant is $25,000 to $40,000.
Average Grant
of approximately $182,000. However, grant sizes vary significantly, ranging from $500 to $7 million. The median grant is $25,000 to $40,000.
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Geographic Focus
Where this funder awards grants
The foundation focuses exclusively on Baltimore City, Maryland, with a primary emphasis on high-poverty neighborhoods. While the foundation's primary focus is Maryland, grantmaking also reaches organizations in New York and Florida, with these three states accounting for 78% of all grants. The foundation's reach extends across 17 states.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Total Assets: $73.3 million to $95 million (as of 2023-2024)
Annual Giving: $19.3 million (2023); $18.9 million to $20 million (2023)
Annual Income: $34.4 million
Historical Growth: Total assets have grown from $19 million in 2011 to $73.3 million in 2024. Annual giving has grown from $3.8 million in 2020 to $19.3 million in 2023.
Grant Distribution: The foundation has made 352 grants totaling $54.7 million. Grantmaking activity was highest in 2022 with $26.2 million distributed across 168 grants. The foundation has supported 160 unique organizations.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $73,284,172 | $87,496,501 | $103,594,473 |
| Revenue | $6,023,024 | $3,680,497 | $2,263,499 |
| Expenses | $20,227,246 | $19,793,246 | $13,507,926 |
| Qualifying Distributions | $19,282,639 | $19,520,920 | $13,282,890 |
| Net Investment Income | $5,316,336 | $3,577,438 | $2,221,190 |
| Distributable Amount | $4,703,523 | $5,065,047 | $5,542,567 |
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
228 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Center for Urban Families Inc ($2,325,000), Baltimore Symphony Orchestra ($1,350,000), Fund for Educational Excellence ($740,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ACLU FOUNDATION OF MARYLAND INC BALTIMORE, MD | GENERAL OPERATIONS | $50,000 |
| ADELANTE LATINA INC BALTIMORE, MD | GENERAL OPERATIONS | $20,000 |
| ADRIENE ARSHT CENTER FOR THE PERFORMING ARTS MIAMI, FL | GENERAL OPERATIONS | $25,000 |
| AMNESTY INTERNATIONAL USA NEW YORK, NY | GENERAL OPERATIONS | $10,000 |
| ART WITH A HEART INC BALTIMORE, MD | GENERAL OPERATIONS | $25,000 |
| ARTS FOR LEARNING MARYLAND INC BALTIMORE, MD | GENERAL OPERATIONS | $75,000 |
| B360 BALTIMORE, MD | GENERAL OPERATIONS | $75,000 |
| BALTIMORE ABORTION FUND BALTIMORE, MD | GENERAL OPERATIONS | $150,000 |
| BALTIMORE ANIMAL RESCUE AND CARE SHELTER INC BALTIMORE, MD | GENERAL OPERATIONS | $115,000 |
| BALTIMORE COMMUNITY FOUNDATION INC BALTIMORE, MD | GENERAL OPERATIONS | $365,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Betsy Sherman — Trustee (4 hours per week, unpaid). Betsy leads the foundation with a vision of improving the lives of young people by prioritizing investments in early childhood and promoting supports for children, youth, and families.
David Sherman — Trustee (0.5 hours per week, unpaid)
Michael Sherman — Trustee (0.5 hours per week, unpaid)
Jonathan Sherman — Trustee (0.5 hours per week, unpaid)
Matthew Sherman — Trustee (0.5 hours per week, unpaid)
Joshua Michael — Executive Director (40 hours per week, $183,000 compensation)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BETSY SHERMAN | TRUSTEE | 4 | — |
| DAVID SHERMAN | TRUSTEE | 0.5 | — |
| MICHAEL SHERMAN | TRUSTEE | 0.5 | — |
| JONATHAN SHERMAN | TRUSTEE | 0.5 | — |
| MATTHEW SHERMAN | TRUSTEE | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The foundation has made significant transformational gifts in recent years:
A $21 million gift to the University of Maryland, Baltimore County, described as the largest gift in the university's history, to support the institution's bold commitment to PreK-12 research, teaching, and learning
Baltimore Symphony Orchestra Receives $5 Million from The Sherman FamilyA $5 million grant to the Baltimore Symphony Orchestra to build and sustain family and educational programming, including expansion of the OrchKids program
Sherman Family Foundation - Grant Information & Application DetailsContact Information
Address: 650 S Exeter St, Suite 1080, Baltimore, MD 21202-4209
Phone: 410-294-8581 or 305-604-0500
Website: https://www.shermanfamfdn.org
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Sherman Family Foundation fund?
The foundation is inspired to improve the lives of young people and families in Baltimore. George and Betsy Sherman hold a profound belief in the power of education to create better opportunities, stronger communities, and stronger families. The foundation prioritizes three main funding areas: **Early Childhood** — Expanding early learning, promoting infant and maternal health, and supporting families **K-12 Education** — Improving outcomes in schools and expanding opportunities, with particula…
How do I apply for a grant from Sherman Family Foundation?
The foundation made 106 awards in 2023 with an average grant size of approximately $182,000. However, grant sizes vary significantly, ranging from $500 to $7 million. The median grant is $25,000 to $40,000. The foundation operates on an invitation-only basis and does not accept unsolicited applications. The foundation only makes contributions to preselected charitable organizations. Recent major grants include: • $21 million to the University of Maryland, Baltimore County (UMBC) to support PreK…
Where does Sherman Family Foundation make grants?
The foundation focuses exclusively on Baltimore City, Maryland, with a primary emphasis on high-poverty neighborhoods. While the foundation's primary focus is Maryland, grantmaking also reaches organizations in New York and Florida, with these three states accounting for 78% of all grants. The foundation's reach extends across 17 states.
What size grants does Sherman Family Foundation award?
In 2024, Sherman Family Foundation awarded 118 grants totaling $19.0M — an average of about $161K per grant, based on its IRS Form 990 filings.
How much is Sherman Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Sherman Family Foundation reported a distributable amount of $4.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Sherman Family Foundation's EIN?
Sherman Family Foundation's EIN (Employer Identification Number) is 52-6723302. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Sherman Family Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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