The Scherman Foundation Inc
The Scherman Foundation Inc is a private grantmaking foundation incorporated in 1941 in New York and headquartered in New York City. Founded by Harry Scherman, co-founder of the Book-of-the-Month Club, the foundation operates as a 501(c)(3) organization with tax-exempt status since December 1943. The foundation nurtures excellent nonprofit organizations and leaders across multiple sectors through strategic grantmaking.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$111.7M
+3.6% YoY
Annual Giving
$6.7M
-4.6% YoY
Grant Count
130
-11.0% YoY
Avg Grant Size
$52K
+7.1% YoY
Mission & Focus Areas
The foundation makes grants largely for the environment, reproductive rights and services, human rights and liberties, the arts, and social welfare. In the social welfare field, grants are made to New York City organizations concerned with social justice, community organizing, and community development. Arts grants are limited to New York City.
The foundation has committed to allocating the majority of its grantmaking dollars to marginalized communities and at least 25 percent to social justice strategies, such as advocacy, community organizing, and civic engagement, as a signatory to Philanthropy's Promise.
The foundation operates through the following program areas:
- Arts Program
- Democracy Program
- Environmental & Climate Justice Program
- Strengthening New York Communities
The foundation has recently deepened its commitment to racial justice and equity through a reimagined framework emphasizing anti-racism, organizing, power shifting, and movement building in BIPOC communities.
Grantmaking
Grant Range
s:** Typical awards range from $34,000 to $250,000.
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Geographic Focus
Where this funder awards grants
The foundation's primary geographic focus is New York, particularly New York City. For 2025-2026, the Strengthening New York Communities program will continue funding organizations working in New York City, as well as selected organizations, coalitions, and networks with statewide reach. The foundation will also make a limited number of grants in Long Island and is slowly expanding grantmaking to other regions of New York State.
The Democracy and Environmental & Climate Justice programs prioritize grantmaking beyond New York, with activity noted in Washington, D.C. and California.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending December 2024:
- Total Assets: $111,698,013
- Total Revenue: $13,319,729
- Total Expenses: $9,456,059
- Net Income: $3,863,670
- Total Liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $111,698,013 | $107,834,343 | $108,635,818 |
| Revenue | $13,319,729 | $8,828,702 | $1,302,378 |
| Expenses | $9,456,059 | $9,630,177 | $9,382,866 |
| Qualifying Distributions | $8,132,024 | $8,443,655 | $7,936,120 |
| Net Investment Income | $12,146,512 | $7,720,418 | $70,472 |
| Distributable Amount | $6,756,021 | $6,147,205 | $6,778,077 |
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
250 grants across all recorded years
Open Grants
4 open opportunities from The Scherman Foundation Inc
Scherman Foundation: Arts Program Grant
THE SCHERMAN FOUNDATION INC
Amount
Varies
Deadline
Rolling / Open
Scherman Foundation: Democracy Program Grant
THE SCHERMAN FOUNDATION INC
Amount
US $40,000 - US $200,000
Deadline
Rolling / Open
Scherman Foundation: Environmental & Climate Justice Program Grant
THE SCHERMAN FOUNDATION INC
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Mike Pratt serves as President and Chief Executive Officer. The foundation announced in October 2025 that Pratt will retire after 30 years with the organization.
The foundation has 5 employees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ALEXIS ANDERSON-REED | DIRECTOR | 2 | — |
| RINI BANERJEE | DIRECTOR, TREASURER | 2 | — |
| AMY BERGTOLD | DIRECTOR | 2 | — |
| MIRIAM BUHL | DIRECTOR | 2 | — |
| STEVEN K CHOI | DIRECTOR | 2 | — |
| RASU JILANI | DIRECTOR | 2 | — |
| MILES S RAPOPORT | DIRECTOR | 2 | — |
| MARIANNA SCHAFFER | DIRECTOR, CHAIR | 2 | — |
| DR PETER K SOLLINS | DIRECTOR, SECRETARY | 2 | — |
| MITCHELL C PRATT | PRESIDENT & CEO | 40 | $334,718 |
Recent News & Activity
Recent developments and announcements
In August 2025, the foundation announced it would increase its annual payout to 10% and streamline its grantmaking process in response to unprecedented attacks on civil society.
The Scherman Foundation Counters Unprecedented Attacks on Civil Society\In December 2025, the foundation awarded $5.85 million in fall grantmaking.
The Scherman Foundation Awards $5.85 Million in 2025 Fall Grantmaking \u2014\The foundation celebrated its 80th anniversary in 2021 and completed a three-year process to deepen its commitment to racial justice and equity, resulting in updated Mission, Vision, and Transformation statements along with revised program guidelines.
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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