Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
THE SHERMAN FAMILY CHARITABLE TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)116 12 CHADWICK DR
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHARLESTON, SC29407
A Employer identification number

57-6100160
B Telephone number (see instructions)

(843) 276-6300
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$1,268,369J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 142 142  
4 Dividends and interest from securities... 47,971 47,971  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -5,004
b Gross sales price for all assets on line 6a 416,436
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 43,109 48,113 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 65,335 32,668 0 32,667
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
5,961 0 0 0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,125 0 0 0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
10,793 10,793 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,789 1,789 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4 4 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 86,007 45,254 0 32,667
25 Contributions, gifts, grants paid....... 70,000 70,000
26 Total expenses and disbursements. Add lines 24 and 25 156,007 45,254 0 102,667
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -112,898
b Net investment income (if negative, enter -0-) 2,859
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 37,529 43,697 43,697
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,292,086 Click to see attachment
List of Attached Documents:
// Content
1,171,342 		1,224,672
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,329,615 1,215,039 1,268,369
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 1,756,948 1,756,948
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds -427,333 -541,909
29 Total net assets or fund balances (see instructions)..... 1,329,615 1,215,039
30 Total liabilities and net assets/fund balances (see instructions). 1,329,615 1,215,039
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,329,615
2
Enter amount from Part I, line 27a .....................
2
-112,898
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
1,216,717
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
1,678
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,215,039
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a RAYMOND JAMES-ST-A      
b RAYMOND JAMES-LT-A      
c CAPITAL GAINS DIVIDENDS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 45,903 50,780   -4,675
b 370,403 371,205   -459
c 130     130
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -4,675
b       -459
c       130
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -5,004
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 40
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 40
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 40
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 40
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 40
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
 
No
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowSC
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowHOWARD B SHERMAN Telephone no.right arrow (843) 276-6300

Located atright arrow116 1/2 CHADWICK DRCHARLESTONSC ZIP+4right arrow29407
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
HOWARD B SHERMAN TRUSTEE
10.00 		45,735 0 0
116 1/2 CHADWICK DR
CHARLESTON,SC29407
IVAN M SHERMAN TRUSTEE
2.00 		9,800 0 0
116 1/2 CHADWICK DR
CHARLESTON,SC29407
MITCHELL L SHERMAN TRUSTEE
2.00 		9,800 0 0
116 1/2 CHADWICK DR
CHARLESTON,SC29407
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
1,214,193
b
Average of monthly cash balances.......................
1b
36,216
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
1,250,409
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
1,250,409
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
18,756
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,231,653
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
61,583
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
61,583
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
40
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
40
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
61,543
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
61,543
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
61,543
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
102,667
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
102,667
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 61,543
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020...... 865
d From 2021...... 5,850
e From 2022...... 13,146
f Total of lines 3a through e ........ 19,861
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 102,667
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 61,543
e Remaining amount distributed out of corpus 41,124
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 60,985
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		60,985
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020.... 865
c Excess from 2021.... 5,850
d Excess from 2022.... 13,146
e Excess from 2023.... 41,124
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BARRIER ISLAND FOUNDATION

PO BOX 20261
CHARLESTON,SC29413 		  PC UNRESTRICTED PROGRAM SUPPORT 3,000

BIRTHDAYS FOR ALL

PO BOX 1623
CHARLESTON,SC29402 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

CAMP RISE ABOVE

PO BOX 31295
CHARLESTON,SC29417 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

CHABAD OF CHARLESTON

477 MATHIS FERRY RD
MOUNT PLEASANT,SC29464 		  PC UNRESTRICTED PROGRAM SUPPORT 5,000

CHARLESTON ANIMAL SOCIETY

2455 REMOUNT RD
NORTH CHARLESTON,SC29406 		  PC UNRESTRICTED PROGRAM SUPPORT 3,000

COASTAL COMMUNITY FOUNDATION

1691 TURNBULL AVE
NORTH CHARLESTON,SC29405 		  PC UNRESTRICTED PROGRAM SUPPORT 7,000

DEE NORTON ACADEMY

1061 KING STREET
CHARLESTON,SC29403 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

FLORIDA STATE UNIVERSITY

222 S COPELAND STREET
TALLAHASSEE,FL32304 		  PC UNRESTRICTED PROGRAM SUPPORT 13,000

HALOS

4995 LACROSS RD STE 1300
NORTH CHARLESTON,SC29406 		  PC UNRESTRICTED PROGRAM SUPPORT 4,000

LOWCOUNTRY FOOD BANK

2864 AZALEA DRIVE
NORTH CHARLESTON,SC29405 		  PC UNRESTRICTED PROGRAM SUPPORT 2,000

MEDICAL UNIVERSITY OF SOUTH CAROLINA

18 BEE STREET MSC450
CHARLESTON,SC29425 		  PC UNRESTRICTED PROGRAM SUPPORT 12,000

MY SISTERS HOUSE

PO BOX 71171
NORTH CHARLESTON,SC29415 		  PC UNRESTRICTED PROGRAM SUPPORT 2,000

ONE 80 PLACE

35 WALNUT STREET
CHARLESTON,SC29403 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

RONALD MCDONALD HOUSE

81 GADSDEN STREET
CHARLESTON,SC29401 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

SYNAGOGUE EMANU-EL

5 WINDSOR DR
CHARLESTON,SC29407 		  PC UNRESTRICTED PROGRAM SUPPORT 2,500

TEACHERS SUPPLY CLOSET

2731 GORDON STREET
NORTH CHARLESTON,SC29405 		  PC UNRESTRICTED PROGRAM SUPPORT 2,000

THE SHERMAN HOUSE

1635 WALLENBERG BLVD
CHARLESTON,SC29407 		  PC UNRESTRICTED PROGRAM SUPPORT 5,000

TUNNEL TO TOWERS FOUNDATION

2361 HYLAN BOULEVARD
STATEN ISLAND,NY10306 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

WINDWOOD FARM FAMILY

4857 WINDWOOD FARM RD
AWENDAW,SC29429 		  PC UNRESTRICTED PROGRAM SUPPORT 1,000

YASCHIK ARNOLD JEWISH STUDIES COLLEGE OF CHARLESTON

66 GEORGE STREET
CHARLESTON,SC29424 		  PC UNRESTRICTED PROGRAM SUPPORT 2,500
Total .................................right arrow 3a 70,000
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 142  
4 Dividends and interest from securities ....     14 47,971  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -5,004  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 43,109 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
43,109
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 2,125 0 0 0

TY 2023 InvestmentsCorpStockSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABS 4,103 4,623
ABBVIE INCORPORATED 11,677 19,836
AES CORPORATION 15,504 16,670
AIA GROUP LIMITED SPONSORED ADR 6,492 4,497
AIRBUS SE UNSPONSORED ADR 6,013 6,948
AMCOR PLC ORD 8,308 6,806
AMERICAN ELECTRIC PWR COMPANY INCORPORATED 11,244 10,396
AMERICAN TOWER CORP 11,601 11,873
AMGEN INCORPORATED 16,455 20,161
ASHAHI KASEI CORPORATION 3,514 2,329
ASTRAZENECA PLC SPONSORED ADR 5,823 7,476
AT&T INCORPORATED 12,075 10,320
AXIS CAPITAL HOLDINGS LIMITED SHS 6,820 6,423
BAE SYSTEMS PLC SPONSORED 2,468 3,341
BCE INCORPORATED COM NEW 15,119 13,232
BP PLC SPONSORED ADR 7,455 7,505
BRISTOL MYERS SQUIBB COMPANY 16,380 13,084
BRITISH AMERN TOB PLC SPONSORED ADR 15,255 11,921
BROADCOM INCORPORATED 10,556 21,209
BROADRIDGE FINL SOLUTIONS INCOPORATED 6,275 8,024
CABLE ONE INCORP 4,374 3,340
CANADIAN IMP BK COMM 7,142 8,088
CARLSBERG AS SPONSORED 6,412 4,994
CARRIER GLOBAL CORPORATION 4,920 4,883
CENTERPOINT ENERGY INCORP 9,253 9,257
CHEVRON CORPORATION NEW 6,898 6,563
CHUBB LIMITED 5,741 9,040
CISCO SYSTEMS INCORPORATED 5,103 5,961
CME GROUP INCORPORATED 7,347 7,371
CMS ENERGY CORPORATION 3,149 3,194
CNA FINL CORPORATION 2,526 3,173
COCA COLA COMPANY 6,389 6,364
COGENT COMMUNICATIONS HLDGS 11,628 15,744
COMCAST CORPORATION NEW CLASS A 15,711 14,777
CONAGRA BRANDS INCORPORATED 6,745 5,560
CORNING INCORPORATED 10,822 11,419
CROWN CASTLE INTERNATIONAL 15,701 13,016
CSG SYSTEMS INTERNATIONAL 2,401 3,086
DANONE SPONSORED 4,826 4,680
DBS GROUP HOLDINGS LIMITED 3,500 4,356
DELEK US HLDGS INCORPORATED NEW 3,033 2,864
DNB BANK ASA SPONSORED 1,409 1,361
DOLLAR GENERAL CORPORATION NEW 5,892 4,758
DOMINION ENERGY INCORPORATED 17,445 11,327
DOW INCORPORATED 2,181 2,303
DUKE ENERGY CORPORATION NEW COM NEW 18,500 20,767
DUN & BRADSTREET HLDGS INCORPORATED 5,266 5,464
EAST WEST BANCORP 3,085 3,022
EDISON INTERNATIONAL 3,046 3,789
ENBRIDGE INCORPORATED GOT 15,771 14,984
ENGIE SA SPONS ADR 5,175 7,438
ENN ENERGY HLDGS LIMITED 4,670 2,209
ENTERGY CORPORATION NEW 9,245 8,804
EQUINIX INCORPORATED REIT 11,525 12,886
EQUITRANS MIDSTREAM 2,656 3,716
FEDEX CORPORATION 5,227 5,059
FIDELITY NATIONAL FINANCIAL IN FNF GROUP COM 3,920 5,255
GALAXY ENTERTAINMENT GROUP LIMITED 2,821 2,605
GENERAL MLS INC 3,754 3,778
GENUINE PARTS COMPANY 1,419 1,939
GILEAD SCIENCES INCORPORATED 5,659 7,372
GRUPO AEROPUERTO DEL PACIFICO 2,467 2,804
HITACHI LIMITED ADR 3,652 4,328
HONEYWELL INTERNATIONAL INCORPORATED 4,280 4,614
HONG KONG EXCHANGES & CLEARING 4,623 2,403
HUNTINGTON BANCSHARES INCORPORATED 10,917 10,240
IBERDROLA SA SPON ADR 3,762 3,881
IDACORP INC 8,280 8,947
IMPERIAL BRANDS PLC SPON ADR 4,471 4,790
INDUSTRIA DE DISENO TEXTIL IND 4,294 7,535
INTERPUBLIC GROUP COMPANIES INCORPORATED 3,978 5,647
INTESA SPANPOALO S P A 2,643 2,488
JOHNSON & JOHNSON 3,048 3,135
JP MORGAN CHASE & CO 2,962 4,423
KB FINL GROUP INCORPORATED 2,197 2,317
KENVUE INCORPORATED 6,037 6,437
KERING S A UNSPONSORED ADR 8,380 5,333
KEURIG DR PEPPER INCORPORATED 4,494 4,765
KIMBERLY CLARK CORPORATION 22,066 19,928
KINDER MORGAN INCORPORATED DEL 12,056 13,353
KLA CORPORATION COM NEW 1,476 5,232
KONINKLIJKE KPN NV 5,149 5,063
KROGER COMPANY 5,515 5,394
LILLY ELI & COMPANY 2,581 7,578
LKQ CORPORATION 3,856 3,680
LOCKHEED MARTIN CORPORATION 2,269 2,719
LONDON STK EXCHANGE GROUP UNSPONSORED ADR 4,077 3,990
LONGFOR GROUP HLDGS LIMITED 6,731 2,513
LVMH MOET HENNESSY LOU VUITTON ADR 4,081 3,728
LYONDELLBASELL INDUSTRIES N V SHS - A - 13,625 14,452
M & T BK CORPORATION 2,755 2,330
M D C HLDGS INCO 1,509 2,652
MEDTRONIC PLC SHS 7,389 7,579
MERCK & COMPANY INCORPORATED 2,916 4,361
MICRON TECHNOLOGY INC 5,828 8,449
MORGAN STANLEY COM NEW 6,786 6,901
NATIONAL GRID PLC SPONSORED ADR NE 16,770 15,842
NESTLE S A SPONSORED ADR 7,736 7,994
NIPPON TELEG TEL CORPORATION 8,012 8,066
NORFOLK SOUTHN CORPORATION 3,453 3,782
NORTHROP GRUMMAN 2,837 2,809
NORTHWESTERN ENERGY GROUP INCORPORATED 3,483 3,461
ORACLE CORP 12,466 15,920
PAYCHEX INCORPORATED 8,840 9,529
PEPSICO INCORPORATED 5,127 6,794
PFIZER INCORPORATED 21,452 14,913
PHILIP MORRIS INTERNATIONAL INCORPORATED 24,310 26,531
PING AN INS GROUP COMPANY 3,099 1,186
PNC FINL SVCS GROUP INCORPORATED 24,683 25,395
PPL CORPORATION 7,153 6,043
PREMIER INCORPORATED CLASS A 3,225 2,012
PRIMO WATER CORPORATION 3,118 3,221
PROGRESSIVE CORPORATION 7,754 12,742
QUALCOMM INCORPORATED 8,661 8,678
REALTY INCOME CORPORATION REIT 6,118 5,225
RELX PLC SPONSORED ADR 4,197 6,306
ROYALTY PHARMA PLC SHS 2,126 2,163
RTX CORPORATION 7,312 7,657
SANOFI SPONSORED ADR 6,842 6,813
SAP SE SPON ADR 5,817 6,493
SCHLUMBERGER LIMITED 2,794 4,423
SINGAPORE TELECOMMUNICATIONS LIMITED 3,560 3,464
SMUCKER J M COMPANY COM NEW 4,146 4,044
SOUTHERN COMPANY 10,385 12,271
SPDR S&P 500 EFT 9,579 12,833
STARBUCKS CORP 4,470 4,993
SYSCO CORPORATION 6,927 6,582
TAIWAN SEMICONDUCTOR MFG LIMITED SPONSORED ADS 15,827 13,832
TARGET CORPORATION 6,566 8,972
TC ENERGY CORPORATION 18,696 16,301
TEXAS INSTRS INCORPORATED 7,275 8,693
TOTALENERGIES SE SPONSORED ADS 20,290 25,335
TRACTOR SUPPLY COMPANY 5,942 5,591
TRINITY INDUSTRIES INCORPORATED 6,373 5,238
TRUIST FINL CORPORATION 16,674 12,036
UNICREDIT SPA UNSPONSORD ADR 3,262 3,351
UNILEVER PLC SPON ADR NEW 18,117 17,501
UNITED OVERSEAS BK LIMITED 3,984 3,753
UNITED PARCEL SERVICE INCORPORATED CLASS B 17,710 20,283
UNITEDHEALTH GROUP INCORPORATED 5,665 6,844
US BANCORP DEL COM NEW 25,289 22,895
VALE S A SPONSORED ADS 6,472 6,106
VERIZON COMMUNICATIONS INCORPORATED 23,228 17,078
VICI PPTYS INCORPORATED 8,934 10,202
VISTRA CORPORATION 8,281 15,100
WATSCO INCORP 4,198 7,284
WEBSTER FINL CORPORATION 3,330 3,655
WILLIAMS COMPANIES INCORPORATED 21,980 29,083
WILLIS TOWERS WATSON PLC 3,410 3,618
WPP PLC NEW ADR 4,550 3,187
XCEL ENERGY INCORPORATED 6,229 6,501
YUM BRANDS INC 3,150 3,267
ZURICH INSURANCE GROUP 2,884 3,552

TY 2023 LegalFeesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ATTORNEY FEES 5,961 0 0 0


TY 2023 OtherDecreasesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Description Amount
INCOME TAXES 1,332
UNREALIZED GAIN/LOSS 346


TY 2023 OtherExpensesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 4 4 0 0


TY 2023 OtherProfessionalFeesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 10,793 10,793 0 0


TY 2023 TaxesSchedule
Name:
THE SHERMAN FAMILY CHARITABLE TRUST
EIN:
57-6100160
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 1,789 1,789 0 0