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
SHERMAN FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)650 SOUTH EXETER STREET 1080
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21202
A Employer identification number

52-6723302
B Telephone number (see instructions)

(305) 604-0500
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$95,463,753J 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 1,582,129 1,582,129  
4 Dividends and interest from securities... 1,478,361 1,478,361  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 556,185
b Gross sales price for all assets on line 6a 13,938,788
7 Capital gain net income (from Part IV, line 2)... 556,185
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)....... Click to see attachment
List of Attached Documents:
// Content
63,822 63,821  
12 Total. Add lines 1 through 11........ 3,680,497 3,680,496  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 183,333 0   183,333
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
6,273 0   6,273
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
15,835 0   15,835
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
48,508 15,844   13,015
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 9,408 9,408   0
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
229,600 77,806   2,175
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 492,957 103,058   220,631
25 Contributions, gifts, grants paid....... 19,300,289 19,300,289
26 Total expenses and disbursements. Add lines 24 and 25 19,793,246 103,058   19,520,920
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -16,112,749
b Net investment income (if negative, enter -0-) 3,577,438
c Adjusted net income (if negative, enter -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......... 14,330,913 11,189,693 11,189,693
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)....... 82,576,115 Click to see attachment
List of Attached Documents:
// Content
66,365,167 		74,332,419
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).......... 4,462,837 Click to see attachment
List of Attached Documents:
// Content
6,714,309 		6,714,309
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
2,224,608 		Click to see attachment
List of Attached Documents:
// Content
3,227,332 		Click to see attachment
List of Attached Documents:
// Content
3,227,332
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 103,594,473 87,496,501 95,463,753
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) Click to see attachment
List of Attached Documents:
// Content
5,223 		Click to see attachment
List of Attached Documents:
// Content
20,000
23 Total liabilities (add lines 17 through 22)......... 5,223 20,000
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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 103,589,250 87,476,501
29 Total net assets or fund balances (see instructions)..... 103,589,250 87,476,501
30 Total liabilities and net assets/fund balances (see instructions). 103,594,473 87,496,501
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
103,589,250
2
Enter amount from Part I, line 27a .....................
2
-16,112,749
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
87,476,501
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
87,476,501
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 JP MORGAN #2002 P    
b JP MORGAN #2002 P    
c BLACKSTONE RE PARTNERS VII.F NQ P    
d BLACKSTONE RE PARTNERS VII.F (AV-UH) P    
e BLACKSTONE RE PARTNERS VII.F P    
BLACKSTONE RE PARTNERS X.F P    
CAMDEN PARTNERS STRATEGIC FUND VI P    
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV P    
FIRSTMARK CAPITAL OF III P    
STRATEGIC PARTNERS FUND V P    
JP MORGAN #5014 P    
SHARPVUE CAPITAL OPPORTUNITY OP FUND LP P    
CAPITAL GAINS DIVIDENDS P    
(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 2,320,677   2,352,946 -32,269
b 911,565   913,666 -2,101
c 1,129     1,129
d 2,133     2,133
e 51     51
137     137
    75,967 -75,967
55,342     55,342
    71,374 -71,374
    98,418 -98,418
10,025,257   9,870,232 155,025
23,936     23,936
598,561     598,561
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       -32,269
b       -2,101
c       1,129
d       2,133
e       51
      137
      -75,967
      55,342
      -71,374
      -98,418
      155,025
      23,936
      598,561
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 2 556,185
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 49,726
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 49,726
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 49,726
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 116,274
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 116,274
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 66,548
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow66,548 Refundedright arrow 11 0
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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
Yes
 
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 arrowMD
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 arrowBETSY SHERMAN Telephone no.right arrow (305) 604-0500

Located atright arrow650 SOUTH EXETER STREET SUITE 1080BALTIMOREMD ZIP+4right arrow21202
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
BETSY SHERMAN TRUSTEE
4.00 		0 0 0
650 SOUTH EXETER STREET SUITE 1080
BALTIMORE,MD21202
DAVID SHERMAN TRUSTEE
0.50 		0 0 0
650 SOUTH EXETER STREET SUITE 1080
BALTIMORE,MD21202
MICHAEL SHERMAN TRUSTEE
0.50 		0 0 0
650 SOUTH EXETER STREET SUITE 1080
BALTIMORE,MD21202
JONATHAN SHERMAN TRUSTEE
0.50 		0 0 0
650 SOUTH EXETER STREET SUITE 1080
BALTIMORE,MD21202
MATTHEW SHERMAN TRUSTEE
0.50 		0 0 0
650 SOUTH EXETER STREET SUITE 1080
BALTIMORE,MD21202
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
JOSHUA MICHAEL EXECUTIVE DIRECTOR
40.00 		183,333 0 0
2238 LAKE AVENUE
BALTIMORE,MD21213
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
87,393,305
b
Average of monthly cash balances.......................
1b
16,492,186
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
103,885,491
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
103,885,491
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,558,282
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
102,327,209
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
5,116,360
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
5,116,360
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
49,726
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
1,587
c
Add lines 2a and 2b............................
2c
51,313
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
5,065,047
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
5,065,047
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
5,065,047
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
19,520,920
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
19,520,920
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 5,065,047
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...... 1,753,655
b From 2019...... 1,785,315
c From 2020...... 1,699,134
d From 2021...... 2,383,591
e From 2022...... 7,740,323
f Total of lines 3a through e ........ 15,362,018
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 19,520,920
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..... 5,065,047
e Remaining amount distributed out of corpus 14,455,873
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 29,817,891
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) ... 		1,753,655
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		28,064,236
10 Analysis of line 9:
a Excess from 2019.... 1,785,315
b Excess from 2020.... 1,699,134
c Excess from 2021.... 2,383,591
d Excess from 2022.... 7,740,323
e Excess from 2023.... 14,455,873
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).)
BETSY SHERMAN
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

ADRIENE ARSHT CENTER FOR THE PERFORMING ARTS

1300 BISCAYNE BLVD
MIAMI,FL33132 		N/A PUBLIC GENERAL OPERATIONS 25,000

ALDRICH MUSEUM

258 MAIN ST
RIDGEFIELD,CT06877 		N/A PUBLIC GENERAL OPERATIONS 10,000

AMNESTY INTERNATIONAL USA

311 W 43RD STREET 7TH FLOOR
NEW YORK,NY10036 		N/A PUBLIC GENERAL OPERATIONS 10,000

AN END TO IGNORANCE

300 W 24TH STREET
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 90,000

AROOSTOOK AGENCY ON AGING

260 MAIN ST
PRESQUE ISLE,ME04769 		N/A PUBLIC GENERAL OPERATIONS 5,000

ARTS FOR LEARNING

21 E NORTH AVE 1ST FLOOR
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 75,000

AVIAN HAVEN

418 N PALERMO RD
FREEDOM,ME04941 		N/A PUBLIC GENERAL OPERATIONS 500

B360

PO BOX 67052
BALTIMORE,MD21215 		N/A PUBLIC GENERAL OPERATIONS 75,000

BALTIMORE ABORTION FUND

822 GUILFORD AVENUE 1864
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 50,000

BALTIMORE ANIMAL RESCUE AND CARE SHELTER INC

301 STOCKHOLM STREET
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 20,000

BALTIMORE CURRICULUM

2707 E FAYETTE ST
BALTIMORE,MD21224 		N/A PUBLIC GENERAL OPERATIONS 250,000

BALTIMORE DESIGN SCHOOL

1500 BARCLAY STREET
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 40,000

BALTIMORE HUMANE SOCIETY

1601 NICODEMUS RD
REISTERTOWN,MD21136 		N/A PUBLIC GENERAL OPERATIONS 30,000

BALTIMORE HUNGER PROJECT

9596 DEERECO RD
TIMONIUM,MD21093 		N/A PUBLIC GENERAL OPERATIONS 5,000

BALTIMORE LEADERSHIP SCHOOL

128 W FRANKLIN STREET BALTIMORE
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 146,000

BALTIMORE MUSEUM OF ARTS

10 ART MUSEUM DRIVE
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 200,100

BALTIMORE SCHOOL FOR THE ARTS

712 CATHEDRAL ST
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 50,000

BALTIMORE SQUASHWISE

3600 CLIPPER MILL RD
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 50,000

BALTIMORE SYMPHONY ORCHESTRA

1212 CATHEDRAL STREET
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 50,000

BAY CHAMBER CONCERTS & MUSIC SCHOOL

18 CENTRAL ST
ROCKPORT,ME04856 		N/A PUBLIC GENERAL OPERATIONS 500,000

BERKELEY CARROLL SCHOOL

181 LINCOLN PL
BROOKLYN,NY11217 		N/A PUBLIC GENERAL OPERATIONS 5,000

BOYS AND GIRLS CLUB OF METRO BALTIMORE

1201 S SHARP ST 302
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 400,000

BROOKLYN INSTITUTE OF ART

600 KINGSTON AVE
BROOKLYN,NY11203 		N/A PUBLIC GENERAL OPERATIONS 50,000

CENTER FOR URBAN FAMILIES INC

3002 DRUID PARK DRIVE
BALTIMORE,MD21215 		N/A PUBLIC GENERAL OPERATIONS 300,000

CHERRY HILL STRON

606 CHERRY HILL RD
BALTIMORE,MD21225 		N/A PUBLIC GENERAL OPERATIONS 300,000

CHILDREN'S MUSEUM OF THE ARTS

PO BOX 1011
NEW YORK,NY10276 		N/A PUBLIC GENERAL OPERATIONS 5,000

CHIZUK AMUNO CONGREGATION AND SCHOOLS

8100 STEVENSON ROAD
BALTIMORE,MD21208 		N/A PUBLIC GENERAL OPERATIONS 5,000

CHURCH OF THE HOLY TRINITY

2300 W LAFAYETTE AVE
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 30,000

CODE IN THE SCHOOLS

21 E NORTH AVENUE 2ND FLOOR
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 15,000

COLLEGEBOUND FOUNDATION

2601 N HOWARD STREET SUITE 210
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 101,500

COMPTON ONE

PO BOX 5503
BERKELEY,CA94705 		N/A PUBLIC GENERAL OPERATIONS 2,500

CRISTO REY CORPORATE INTERNSHIP PROGRAM INC

420 S CHESTER ST
BALTIMORE,MD21231 		N/A PUBLIC GENERAL OPERATIONS 75,000

DIGITAL HARBOR FOUNDATION

1045 LIGHT ST
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 30,000

DOWNTOWN BALTIMORE CHILD CARE

237 N ARCH ST
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 50,000

ENTERTAINMENT INDUSTRY FOUNDATION

10880 WILSHIRE BLVD
LOS ANGELES,CA90024 		N/A PUBLIC GENERAL OPERATIONS 10,000

FAMILY LEAGUE OF BALTIMORE

2305 N CHARLES STREET SUITE 200
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 150,000

FAMILY TREE THE

2108 NORTH CHARLES STREET
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 340,000

FRIENDS OF WLRN

172 NE 15TH STREET
MIAMI,FL33132 		N/A PUBLIC GENERAL OPERATIONS 15,000

FROST SCHOOL OF MUSIC

1314 MILLER DR
CORAL GABLES,FL33146 		N/A PUBLIC GENERAL OPERATIONS 25,000

FUND FOR EDUCATIONAL EXCELLENCE

800 N CHARLES ST
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 585,000

GIVING STRENGTH INC

PO BOX 115
FULTON,MD20759 		N/A PUBLIC GENERAL OPERATIONS 6,500

HAMMER MUSEUM

10899 WILSHIRE BLVD
LOS ANGELES,CA90024 		N/A PUBLIC GENERAL OPERATIONS 8,800

HIGHER ACHIEVEMENT

1100 WICOMICO ST SUITE 333
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 60,000

HOLISTIC LIFE FOUNDATION INC

1014 W 36TH ST SUITE 403
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 10,000

HOUSE OF RUTH

5 THOMAS CIRCLE NW 4TH FLOOR
WASHINGTON,DC20005 		N/A PUBLIC GENERAL OPERATIONS 5,000

HOWARD UNIVERSITY

2400 6TH ST NW
WASHINGTON,DC20059 		N/A PUBLIC GENERAL OPERATIONS 7,500

IMPROVING EDUCATION

1100 N CHESTER ST
BALTIMORE,MD21213 		N/A PUBLIC GENERAL OPERATIONS 65,000

INGENUITY PROJECT

1400 W COLD SPRING LN
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 25,000

JOHNS HOPKINS UNIVERSITY

6225 SMITH AVENUE SUITE 100-B
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 30,000

KIPP 3D ACADEMY

500 TIDWELL RD
HOUSTON,TX77022 		N/A PUBLIC GENERAL OPERATIONS 200,000

LONG ISLAND UNIVERSITY

1 UNIVERSITY PLAZA
BROOKLYN,NY11201 		N/A PUBLIC GENERAL OPERATIONS 1,616,812

MAINE COAST HERITAGE TRUST

1 BOWDOIN MILL ISLAND 201
TOPSHAM,ME04086 		N/A PUBLIC GENERAL OPERATIONS 500,000

MAINE HEALTH

146 CAPITOL STREET
AUGUSTA,ME04330 		N/A PUBLIC GENERAL OPERATIONS 100,000

MAINE PUBLIC

1450 LISBON STREET
LEWISTON,ME04240 		N/A PUBLIC GENERAL OPERATIONS 20,000

MAKING COMMUNITY HAPPEN

46 SUMMER STREET
ROCKLAND,ME04841 		N/A PUBLIC GENERAL OPERATIONS 5,000

MARIPOSA EDUCATION

5911 YORK RD 100
BALTIMORE,MD21212 		N/A PUBLIC GENERAL OPERATIONS 60,000

MARMIA

10 E NORTH AVE SUITE 5
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 15,000

MARYLAND FAMILY NETWORK

1001 EASTERN AVE
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 150,000

MARYLAND FOOD BANK

2200 HALETHORPE FARMS
BALTIMORE,MD21227 		N/A PUBLIC GENERAL OPERATIONS 15,000

MARYLAND READS

9902 HILLRIDGE DR
KENSINGTON,MD20895 		N/A PUBLIC GENERAL OPERATIONS 40,000

MARYLAND SPCA

3300 FALLS ROAD
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 15,000

MD PHILANTHROPHY NETWORK

1600 W 41ST ST 700
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 17,450

MEALS ON WHEELS

515 SOUTH HAVEN STREET
BALTIMORE,MD21224 		N/A PUBLIC GENERAL OPERATIONS 15,000

MEDSTAR HARBOR HOSPITAL

3001 S HANOVER ST
BALTIMORE,MD21225 		N/A PUBLIC GENERAL OPERATIONS 100,000

MOMCARES

1101 W PRATT ST
BALTIMORE,MD21223 		N/A PUBLIC GENERAL OPERATIONS 15,000

MPT FOUNDATION INC

11767 OWINGS MILLS BLVD 2
OWINGS MILLS,MD21117 		N/A PUBLIC GENERAL OPERATIONS 40,000

MT WASHINGTON PEDIATRIC HOSPITAL

1708 W ROGERS AVE
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 10,000

NEW ORLEANS ABORTION FUND

3014 DAUPHINE ST STE A
NEW ORLEANS,LA701176755 		N/A PUBLIC GENERAL OPERATIONS 5,000

NEW ORLEANS BULLDOG RESCUE

PO BOX 1844
KENNER,LA70063 		N/A PUBLIC GENERAL OPERATIONS 5,000

NEW YORK FDN FOR THE ARTS

29 W 38TH ST 9TH FLOOR
NEW YORK,NY10018 		N/A PUBLIC GENERAL OPERATIONS 2,500

OXFAM AMERICA

77 N WASHINGTON ST 500
BOSTON,MA02114 		N/A PUBLIC GENERAL OPERATIONS 25,000

PARKS & PEOPLE FOUNDATION

800 WYMAN PARK DRIVE SUITE 010
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 100,000

PATTERSON PARK PUBLIC CHARTER SCHOOL

27 N LAKEWOOD AVE
BALTIMORE,MD21224 		N/A PUBLIC GENERAL OPERATIONS 250,000

PIVOT INC

901 N MILTON AVE SUITE 340
BALTIMORE,MD21205 		N/A PUBLIC GENERAL OPERATIONS 25,000

PLANNED PARENTHOOD

330 N HOWARD STREET
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 100,000

POINT SOURCE YOUTH

215 PARK AVE S 11TH FLOOR
NEW YORK,NY10003 		N/A PUBLIC GENERAL OPERATIONS 1,000,000

PROJECT PNEUMA

25 W FAYETTE ST
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 55,000

READING PARTNERS

1500 UNION AVE 2200
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 10,000

REBUILD BALTIMORE METRO

1129 N CAROLINE ST
BALTIMORE,MD21213 		N/A PUBLIC GENERAL OPERATIONS 100,000

ROLAND PARK COMMUNITY FOUNDATION

5115B ROLAND AVENUE
BALTIMORE,MD21210 		N/A PUBLIC GENERAL OPERATIONS 350,000

SAVE THE CHILDREN

501 KINGS HIGHWAY EAST SUITE 400
FAIRFIELD,CT06825 		N/A PUBLIC GENERAL OPERATIONS 50,000

SHARE OUR STRENGTH

1030 15TH STREET NW SUITE 1100W
WASHINGTON,DC20005 		N/A PUBLIC GENERAL OPERATIONS 10,000

SHAREBABY INC

1792 UNION AVE
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 50,000

SKOWHEGAN SCHOOL OF PAINTING & SCULPTURE

1 ART SCHOOL ROAD
SKOWHEGAN,ME04950 		N/A PUBLIC GENERAL OPERATIONS 5,000

TEACH FOR AMERICA BALTIMORE

2601 N HOWARD ST SUITE 300
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 550,000

THE LITERACY LAB

1500 UNION AVE
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 50,000

THE MUSEUM OF CONTEMPORARY ART

250 SOUTH GRAN AVENUE
LOS ANGELES,CA90012 		N/A PUBLIC GENERAL OPERATIONS 5,000

THE Y OF CENTRAL MARYLAND INC

303 W CHESAPEAK AVE
BALTIMORE,MD21204 		N/A PUBLIC GENERAL OPERSTIONS 1,014,127

THREAD

PO BOX 1584
BALTIMORE,MD21203 		N/A PUBLIC GENERAL OPERATIONS 400,000

UMBCUNIVERSITY SYSTEM OF MARYLAND FOUNDATION INC

3300 METZEROTT ROAD
ADELPHI,MD20783 		N/A PUBLIC GENERAL OPERATIONS 6,006,000

UNICEF

1775 K ST NW 360
WASHINGTON,DC20006 		N/A PUBLIC GENERAL OPERATIONS 25,000

UNITED WAY OF CENTRAL MARYLAND

PO BOX 1576
BALTIMORE,MD21203 		N/A PUBLIC GENERAL OPERATIONS 500,000

UNIVERSITY OF MD BALTIMORE FDN

220 ARCH ST 13TH FLOOR
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 500,000

UPSURGE BALTIMORE

1501 ST PAUL ST 130
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 250,000

VENETOULIS INSTITUTE FOR LOCAL JOURNALISM

621 E PRATT ST SUITE 401
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 125,000

VILLAGE LEARNING PLACE

2521 ST PAUL ST
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 25,000

WALLKILL VALLEY LAND TRUST

64 HUGUENOT ST
NEW PALTZ,NY12561 		N/A PUBLIC GENERAL OPERATIONS 5,000

WE WILL ALL RISE INC

PO BOX 24617
BALTIMORE,MD21214 		N/A PUBLIC GENERAL OPERATIONS 100,000

WEEKEND BACKPACKS

PO BOX 21486
BALTIMORE,MD21282 		N/A PUBLIC GENERAL OPERATIONS 25,000

WHOLE WOMANS HEALTH

7648 BELAIR RD
BALTIMORE,MD21236 		N/A PUBLIC GENERAL OPERATIONS 100,000

WIDE ANGLE YOUTH MEDIA

2601 N HOWARD ST STE 160
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 55,000

WORLD FOOD PROGRAM

1750 H STREET NW SUITE 500
WASHINGTON,DC20006 		N/A PUBLIC GENERAL OPERATIONS 25,000

WORLDWIDE ORPHANS FOUNDATION

244 FIFTH AVENUE SUITE K298
NEW YORK,NY10001 		N/A PUBLIC GENERAL OPERATIONS 15,000

WYPR RADIO

2216 NORTH CHARLES STREET
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 25,000

YALE UNIVERSITY

PO BOX 208241
NEW HAVEN,CT06520 		N/A PUBLIC GENERAL OPERATIONS 5,000

YLEANA LEADERSHIP FOUNDATION

561 TENTH AVE 38J
NEW YORK,NY10036 		N/A PUBLIC GENERAL OPERATIONS 25,000
Total .................................right arrow 3a 19,300,289
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 1,582,129  
4 Dividends and interest from securities ....     14 1,478,361  
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 .....     14 63,822  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 556,185  
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 3,680,497 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,680,497
(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:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREP FEES 15,835 0   15,835

TY 2023 InvestmentsCorpStockSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Name of Stock End of Year Book Value End of Year Fair Market Value
SECURITIES 66,365,167 74,332,419

TY 2023 InvestmentsOtherSchedule2
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
STRATEGIC PARTNERS FUND V, LP FMV 7,177 7,177
STRATEGIC PARTNERS RE VIII FEEDER FMV 48,465 48,465
CYPRESS PERFORMANCE GROUP LLC FMV 50,736 50,736
FIRSTMARK CAPITAL OF IV LP FMV 158,886 158,886
BLACKSTONE REAL ESTATE PARTNERS VII FMV 195,997 195,997
SHARPVUE CAPITAL OPPORTUNITY QP FUND LP FMV 412,274 412,274
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND LP FMV 639,056 639,056
SEVENTH CINVEN FUND (NO. 1) LP FMV 842,402 842,402
CAMDEN PARTNERS STRATEGIC FUND VI LP FMV 863,085 863,085
FIRSTMARK CAPITAL OF III LP FMV 891,904 891,904
FP CREDIT PARTNERS II AGGREGATOR-A LP FMV 1,214,859 1,214,859
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP FMV 1,389,468 1,389,468

TY 2023 LegalFeesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 6,273 0   6,273


TY 2023 OtherAssetsSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
REINVESTMENT/LOAN RECEIVABLE 2,124,608 3,037,848 3,037,848
OTHER RECEIVABLE 100,000 0 0
INVESTMENT DISTRIBUTION RECEIVABLE   189,484 189,484


TY 2023 OtherExpensesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNT MANAGEMENT FEES 30,582 0   0
BANK FEES 220 0   0
BUSINESS MEALS 2,054 2,054   0
WORKERS COMP 347 0   347
IT SERVICES 696 696   0
PAYROLL PROCESSING FEES 1,828 0   1,828
BLACKSTONE REAL ESTATE PARTNERS VII.F 413 -3   0
BLACKSTONE REAL ESTATE PARTNERS VII.F NQ LP 3 0   0
BLACKSTONE REAL ESTATE PARTNERS X.F (AV-MH.3) LP 2,138 806   0
BLACKSTONE REAL ESTATE PARTNERS X.F LP 25,544 31,350   0
BLACKSTONE REAL ESTATE PARTNERS X.TE-F (OFFSHORE) 15,092 13,929   0
CAMDEN PARTNERS STRATEGIC FUND VI, LP 21,695 0   0
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP 32,302 350   0
CYPRESS PERFORMANCE GROUP, LLC 4,298 0   0
FIRSTMARK CAPITAL OF III 21,021 345   0
SEVENTH CINVEN FUND (NO 1) LP 19,120 19,120   0
SHARPVUE CAPITAL OPPORTUNITY OP FUND LP 7,729 7,729   0
STRATEGIC PARTNERS FUND V, LP 402 167   0
MISC EXPENSE 548 0   0
BLACKSTONE REAL ESTATE PARTNERS X.F (AV-MH.1) LP 3,280 744   0
FIRSTMARK CAPITAL OF IV 31,288 519   0
FELLOWSHIP STIPENDS 9,000 0   0


TY 2023 OtherIncomeSchedule2
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
BREP VII ALBERTA FEEDER (OFFSHORE) F-NQ LP 45 45 45
BREP VII ALBERTA FEEDER (OFFSHORE) F LP 9 9 9
FP CREDIT PARTNERS II AGGREGATOR-A LP 14,776 14,776 14,776
BLACKSTONE RE PARTNERS X. TE-F 199 199 199
MISCELLANEOUS INCOME 14,395 14,395 14,395
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND 1,352 1,351 1,352
SEVENTH CINVEN FUND 33,046 33,046 33,046


TY 2023 OtherLiabilitiesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Description Beginning of Year - Book Value End of Year - Book Value
INVESTMENT CONTRIBUTION PAYABLE 4,942 0
BARCS ANIMAL SHELTER PAYABLE 281 20,000


TY 2023 TaxesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAXES 48,402 15,738   13,015
STRATEGIC PARTNERS FUND V, LP - FOREIGN TAXES 106 106   0