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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
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$84,064,763J 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 2,395,766 2,395,766  
4 Dividends and interest from securities... 1,458,130 1,458,130  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,147,269
b Gross sales price for all assets on line 6a 30,529,993
7 Capital gain net income (from Part IV, line 2)... 2,147,269
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
21,859 21,859  
12 Total. Add lines 1 through 11........ 6,023,024 6,023,024  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 240,000 0   240,000
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
36,955 0   36,955
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
132,547 19,844   13,933
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 11,049 0   0
21 Travel, conferences, and meetings....... 2,792 0   2,792
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
819,702 686,844   4,758
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,243,045 706,688   298,438
25 Contributions, gifts, grants paid....... 18,984,201 18,984,201
26 Total expenses and disbursements. Add lines 24 and 25 20,227,246 706,688   19,282,639
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -14,204,222
b Net investment income (if negative, enter -0-) 5,316,336
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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......... 11,189,693 5,192,702 5,192,702
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)....... 66,365,167 Click to see attachment
List of Attached Documents:
// Content
55,318,175 		66,098,766
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).......... 6,714,309 Click to see attachment
List of Attached Documents:
// Content
9,967,720 		9,967,720
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
3,227,332 		Click to see attachment
List of Attached Documents:
// Content
2,805,575 		Click to see attachment
List of Attached Documents:
// Content
2,805,575
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 87,496,501 73,284,172 84,064,763
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
20,000 		Click to see attachment
List of Attached Documents:
// Content
11,893
23 Total liabilities (add lines 17 through 22)......... 20,000 11,893
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 87,476,501 73,272,279
29 Total net assets or fund balances (see instructions)..... 87,476,501 73,272,279
30 Total liabilities and net assets/fund balances (see instructions). 87,496,501 73,284,172
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
87,476,501
2
Enter amount from Part I, line 27a .....................
2
-14,204,222
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
73,272,279
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
73,272,279
Form 990-PF (2024)
Form 990-PF (2024)
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 BLACKSTONE REAL ESTATE PARTNERS VII.F-NQ (AV-UH-17) P    
b BLACKSTONE REAL ESTATE PARTNERS VII.F-NQ (AV-UH-16) P    
c BLACKSTONE REAL ESTATE PARTNERS VII.F (AV-UH-10) P    
d BLACKSTONE REAL ESTATE PARTNERS X.F LP P    
e CAMDEN PARTNERS STRATEGIC FUND VI, LP P    
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP P    
CYPRESS PERFORMANCE GROUP, LLC P    
FIRSTMARK CAPITAL OF III P    
SEVENTH CINVEN FUND (NO. 1) LP P    
SHARPVUE CAPITAL OPPORTUNITY OP FUND LP P    
JPM #2002 P    
JPM #2002 P    
CHARLES SCHWAB #5014 P    
CHARLES SCHWAB #5014 P    
SEVENTH CINVEN FUND (NO. 1) LP - CAPITAL ADJUSTMENT P    
STRATEGIC PARTNERS FUND V, LP - CAPITAL ADJUSTMENT 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 637     637
b 4,112     4,112
c 11     11
d 7,576     7,576
e     64,574 -64,574
4,984     4,984
13,544     13,544
    21,073 -21,073
36,383     36,383
4,801     4,801
415,880   408,860 7,020
6,180,263   6,143,440 36,823
13,984,700   13,983,216 1,484
7,675,000   7,675,000 0
    81,781 -81,781
    4,780 -4,780
2,202,102     2,202,102
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       637
b       4,112
c       11
d       7,576
e       -64,574
      4,984
      13,544
      -21,073
      36,383
      4,801
      7,020
      36,823
      1,484
      0
      -81,781
      -4,780
      2,202,102
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 2,147,269
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 73,897
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 73,897
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 73,897
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 100,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 60,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 160,000
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 1,600
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 84,503
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow84,503 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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 2024 or the taxable year beginning in 2024? 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 2024, 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 (2024)
Form 990-PF (2024)
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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 		240,000 0 0
2238 LAKE AVENUE
BALTIMORE,MD21213
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
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 (2024)
Form 990-PF (2024)
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
87,235,262
b
Average of monthly cash balances.......................
1b
9,768,182
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
97,003,444
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
97,003,444
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,455,052
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
95,548,392
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
4,777,420
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
4,777,420
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
73,897
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
73,897
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
4,703,523
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
4,703,523
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
4,703,523
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
19,282,639
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
19,282,639
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 4,703,523
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 1,785,315
b From 2020...... 1,699,134
c From 2021...... 2,383,591
d From 2022...... 7,740,323
e From 2023...... 14,455,873
f Total of lines 3a through e ........ 28,064,236
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 19,282,639
a Applied to 2023, 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 2024 distributable amount..... 4,703,523
e Remaining amount distributed out of corpus 14,579,116
5 Excess distributions carryover applied to 2024. 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 42,643,352
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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 2019 not
applied on line 5 or line 7 (see instructions) ... 		1,785,315
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		40,858,037
10 Analysis of line 9:
a Excess from 2020.... 1,699,134
b Excess from 2021.... 2,383,591
c Excess from 2022.... 7,740,323
d Excess from 2023.... 14,455,873
e Excess from 2024.... 14,579,116
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
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 (2024)
Form 990-PF (2024)
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

ACLU FOUNDATION OF MARYLAND INC

3600 CLIPPER MILL RD 350
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 50,000

ADELANTE LATINA INC

2907 W STRATHMORE AVE
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 20,000

ADRIENE ARSHT CENTER FOR THE PERFORMING ARTS

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

AMNESTY INTERNATIONAL USA

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

ART WITH A HEART INC

3000 FALLS ROAD MILL NO 1
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 25,000

ARTS FOR LEARNING MARYLAND INC

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

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 150,000

BALTIMORE ANIMAL RESCUE AND CARE SHELTER INC

301 STOCKHOLM STREET
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 115,000

BALTIMORE COMMUNITY FOUNDATION INC

11 E MOUNT ROYAL AVE 2ND FLOOR
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 365,000

BALTIMORE DESIGN SCHOOL

1500 BARCLAY STREET
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 10,000

BALTIMORE HUMANE SOCIETY

1601 NICODEMUS RD
REISTERTOWN,MD21136 		N/A PUBLIC GENERAL OPERATIONS 40,000

BALTIMORE MUSEUM OF ARTS

10 ART MUSEUM DRIVE
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 65,000

BALTIMORE MUSEUM OF INDUSTRY INC

1415 KEY HIGHWAY
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 15,000

BALTIMORE OUTREACH SERVICES INC

701 S CHARLES ST
BALTIMORE,MD21230 		N/A PUBLIC GENERAL OPERATIONS 25,000

BALTIMORE SCHOOL FOR THE ARTS

712 CATHEDRAL ST
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 60,000

BALTIMORE SYMPHONY ORCHESTRA

1212 CATHEDRAL STREET
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 1,350,000

BAY CHAMBER CONCERTS & MUSIC SCHOOL

18 CENTRAL ST
ROCKPORT,ME04856 		N/A PUBLIC GENERAL OPERATIONS 12,000

BERKELEY CARROLL SCHOOL

181 LINCOLN PL
BROOKLYN,NY11217 		N/A PUBLIC GENERAL OPERATIONS 6,172

BIRTHDAY BOOKS PROJECT INC

7161 HARP STRING
COLUMBIA,MD21045 		N/A PUBLIC GENERAL OPERATIONS 10,000

BMORE EMPOWERED INC

636 N GILMORE STREET
BALTIMORE,MD21217 		N/A PUBLIC GENERAL OPERATIONS 45,000

BOYS AND GIRLS CLUB OF METRO BALTIMORE

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

BRANDEIS UNIVERSITY

PO BOX 9110
WALTHAM,MA024549110 		N/A PUBLIC ROSE ART MUSEUM 5,000

BRIDGES BALTIMORE

540 E BELVEDERE AVENUE SUITE 201
BALTIMORE,MD21212 		N/A PUBLIC GENERAL OPERATIONS 125,000

BROOKLYN INSTITUTE OF ART

600 KINGSTON AVE
BROOKLYN,NY11203 		N/A PUBLIC GENERAL OPERATIONS 80,000

CENTER FOR MAINE CONTEMPORARY ART

PO BOX 1767
ROCKLAND,ME04841 		N/A PUBLIC GENERAL OPERATIONS 40,000

CENTER FOR URBAN FAMILIES INC

3002 DRUID PARK DRIVE
BALTIMORE,MD21215 		N/A PUBLIC GENERAL OPERATIONS 2,325,000

CHAPTER ONE NFP

13553 STATE ROAD 54 SUITE 50
ODESSA,FL33556 		N/A PUBLIC GENERAL OPERATIONS 50,000

CHARM CITY CULTURAL CULTIVATION INC

354 MAMARONECK ROAD
SCARSDALE,NY10583 		N/A PUBLIC GENERAL OPERATIONS 10,000

CHERRY HILL STRONG

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

CHILDREN STRIVING TOGETHER

850 NORTH CENTER AVENUE APT 5L
ONTARIO,CA91764 		N/A PUBLIC GENERAL OPERATIONS 1,500

CHILDREN'S BEACH HOUSE

100 W 10TH STREET 411
WILMINGTON,DE198011674 		N/A PUBLIC GENERAL OPERATIONS 10,000

CHURCH OF THE HOLY TRINITY

2300 W LAFAYETTE AVE
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 50,000

CITY NEIGHBORS CHARTER SCHOOL INC

4301 RASPE AVE
BALTIMORE,MD21206 		N/A PUBLIC GENERAL OPERATIONS 15,000

COLLEGEBOUND FOUNDATION

2601 N HOWARD STREET SUITE 210
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 26,500

COMMUNITY MEDIATION PROGRAM INC

3333 GREENMOUNT AVENUE
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 25,000

CREATIVE VISIONS FOUNDATION

18820 PACIFIC COAST HIGHWAY STE 201
MALIBU,CA90265 		N/A PUBLIC GENERAL OPERATIONS 25,000

CRISTO REY JESUIT HIGH SCHOOL

420 S CHESTER ST
BALTIMORE,MD212312729 		N/A PUBLIC GENERAL OPERATIONS 75,000

FAMILY LEAGUE OF BALTIMORE

2305 N CHARLES STREET SUITE 200
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 100,000

FAMILY TREE THE

2108 NORTH CHARLES STREET
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 390,000

FLIGHT-PATH

4011 SOUTH 176TH CIRCLE
OMAHA,NE68130 		N/A PUBLIC GENERAL OPERATIONS 6,300

FOUNDATION FOR BLSYW

128 W FRANKLIN STREET
BALTIMORE,MD21201 		N/A PUBLIC GENERAL OPERATIONS 125,000

FRACTURED ATLAS INC

228 PARK AVE S 56651
NEW YORK,NY10003 		N/A PUBLIC GENERAL OPERATIONS 5,000

FRIENDS OF WLRN

172 NE 15TH STREET
MIAMI,FL33132 		N/A PUBLIC GENERAL OPERATIONS 20,000

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 740,000

HIGHER ACHIEVEMENT

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

HOLLYWOOD SCHOOLHOUSE INC

1223 NORTH MCCADDEN PLACE
LOS ANGELES,CA90038 		N/A PUBLIC GENERAL OPERATIONS 5,000

IMPROVING EDUCATION

1100 N CHESTER ST
BALTIMORE,MD21213 		N/A PUBLIC GENERAL OPERATIONS 100,000

INFANT MENTAL HEALTH ASSOCIATION OF MARYLAND & DC INC

PO BOX 10465
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 20,000

INGENUITY PROJECT

1400 W COLD SPRING LN
BALTIMORE,MD21209 		N/A PUBLIC GENERAL OPERATIONS 75,000

JEREMIAH PROGRAM

729 N WASHINGTON AVE 600
MINNEAPOLIS,MN55401 		N/A PUBLIC GENERAL OPERATIONS 45,000

JOHNS HOPKINS UNIVERSITY

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

JUNIOR ACHIEVEMENT OF CENTRAL MARYLAND INC

1725 TWIN SPRING RD
BALTIMORE,MD21227 		N/A PUBLIC GENERAL OPERATIONS 15,000

KIPP 3D ACADEMY

500 TIDWELL RD
HOUSTON,TX77022 		N/A PUBLIC GENERAL OPERATIONS 175,000

LIVING CLASSROOMS FOUNDATION

1417 THAMES STREET
BALTIMORE,MD21231 		N/A PUBLIC GENERAL OPERATIONS 50,000

LOS ANGELES NOMADIC DIVISION

2021 W JEFFERSON BOULEVARD
LOS ANGELES,CA90018 		N/A PUBLIC GENERAL OPERATIONS 40,000

MAINE COAST HERITAGE TRUST

1 BOWDOIN MILL ISLAND 201
TOPSHAM,ME04086 		N/A PUBLIC GENERAL OPERATIONS 150,000

MAINE HEALTH

146 CAPITOL STREET
AUGUSTA,ME04330 		N/A PUBLIC GENERAL OPERATIONS 200,000

MAINE PUBLIC

1450 LISBON STREET
LEWISTON,ME04240 		N/A PUBLIC GENERAL OPERATIONS 250,000

MARIPOSA EDUCATION

5911 YORK RD 100
BALTIMORE,MD21212 		N/A PUBLIC GENERAL OPERATIONS 50,000

MARYLAND FAMILY NETWORK

1001 EASTERN AVE
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 250,000

MARYLAND FOOD BANK

2200 HALETHORPE FARMS
BALTIMORE,MD21227 		N/A PUBLIC GENERAL OPERATIONS 25,000

MARYLAND READS

9902 HILLRIDGE DR
KENSINGTON,MD20895 		N/A PUBLIC GENERAL OPERATIONS 80,000

MARYLAND SPCA

3300 FALLS ROAD
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 25,000

MARYLAND STATE CHILD CARE ASSOC

2810 CARROLLTON RD
ANNAPOLIS,MD21403 		N/A PUBLIC GENERAL OPERATIONS 30,000

MARYLAND STATE FAMILY CHILD CARE ASSOCIATION INC

10612 HARPOON HILL
COLUMBIA,MD21044 		N/A PUBLIC GENERAL OPERATIONS 5,000

MD PHILANTHROPHY NETWORK

1600 W 41ST ST 700
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 22,070

MEALS ON WHEELS

515 SOUTH HAVEN STREET
BALTIMORE,MD21224 		N/A PUBLIC GENERAL OPERATIONS 20,000

MEDSTAR HARBOR HOSPITAL

3001 S HANOVER ST
BALTIMORE,MD21225 		N/A PUBLIC GENERAL OPERATIONS 150,000

MID-COAST RECREATION CENTER INC

535 WEST STREET
ROCKPORT,ME04856 		N/A PUBLIC GENERAL OPERATIONS 50,000

MPT FOUNDATION INC

11767 OWINGS MILLS BLVD 2
OWINGS MILLS,MD21117 		N/A PUBLIC GENERAL OPERATIONS 525,000

MT WASHINGTON PEDIATRIC HOSPITAL

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

MUSEUM OF ART OGUNQUIT DBA OGUNQUIT MUSEUM OF ART

PO BOX 815 SHORE ROAD
OGUNQUIT,ME03907 		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 5,000

NEXT ONE UP FOUNDATION INC

PO BOX 22503
BALTIMORE,MD21203 		N/A PUBLIC GENERAL OPERATIONS 50,000

OXFAM AMERICA

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

PARENTCHILD INC

242 WEST 30TH STREET 1100
NEW YORK,NY10001 		N/A PUBLIC GENERAL OPERATIONS 80,000

PARK SCHOOL CORPORATION

171 GODDARD AVENUE
BROOKLINE,MA02445 		N/A PUBLIC GENERAL OPERATIONS 50,000

PARKS & PEOPLE FOUNDATION

800 WYMAN PARK DRIVE SUITE 010
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 110,000

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 500,000

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 500,000

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 10,300

SHAREBABY INC

1792 UNION AVE
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 75,000

SPRINGBOARD COLLABORATIVE

2 PENN CENTER 1500 JFK BLVD 1160
PHILADELPHIA,PA19102 		N/A PUBLIC GENERAL OPERATIONS 150,000

SYLVIA-NUNN ANGELS

200 N LONG BEACH BLVD
COMPTON,CA90221 		N/A PUBLIC GENERAL OPERATIONS 2,500

TACO JITSU INC

824 CEDARCROFT RD
BALTIMORE,MD21212 		N/A PUBLIC GENERAL OPERATIONS 10,000

TEACH FOR AMERICA BALTIMORE

2601 N HOWARD ST SUITE 300
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 500,000

TEENS WITH TRAUMA INC

14511 VENTRY FARM COURT
SPARKS,MD21152 		N/A PUBLIC GENERAL OPERATIONS 5,000

THE BALTIMORE CHILDRENS MUSEUM INC

35 MARKET PLACE
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 250,000

THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY

485 BROADWAY MAIL CODE 8838
REDWOOD CITY,CA94063 		N/A PUBLIC GENERAL OPERATIONS 10,000

THE HIGHLAND PROJECT INC

71 W 85TH ST APT 1A
NEW YORK,NY10024 		N/A PUBLIC GENERAL OPERATIONS 10,000

THE LINKS FOUNDATION INCORPORATED

1200 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20005 		N/A PUBLIC GENERAL OPERATIONS 25,000

THE MARYLAND BOOK BANK INC

1794 UNION AVE
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 40,000

THE TAKI ALSOP CONDUCTING FELLOWSHIP INC

PO BOX 4725
BALTIMORE,MD21211 		N/A PUBLIC GENERAL OPERATIONS 250,000

THE WILLIAM A FARNSWORTH LIBRARY AND ART MUSEUM INC

356 MAIN STREET
ROCKLAND,ME04841 		N/A PUBLIC GENERAL OPERATIONS 5,000

THE Y OF CENTRAL MARYLAND INC

303 W CHESAPEAK AVE
BALTIMORE,MD21204 		N/A PUBLIC GENERAL OPERSTIONS 1,000,000

THREAD

PO BOX 1584
BALTIMORE,MD21203 		N/A PUBLIC GENERAL OPERATIONS 300,000

UMBCUNIVERSITY SYSTEM OF MARYLAND FOUNDATION INC

3300 METZEROTT ROAD
ADELPHI,MD20783 		N/A PUBLIC GENERAL OPERATIONS 2,900,000

UNICEF

1775 K ST NW 360
WASHINGTON,DC20006 		N/A PUBLIC GENERAL OPERATIONS 31,359

UNITED WAY OF CENTRAL MARYLAND

PO BOX 1576
BALTIMORE,MD21203 		N/A PUBLIC GENERAL OPERATIONS 510,000

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

US BIENNIAL INC DBA PROSPECT NEW ORLEANS

PO BOX 58800
NEW ORLEANS,LA70158 		N/A PUBLIC GENERAL OPERATIONS 20,000

VENETOULIS INSTITUTE FOR LOCAL JOURNALISM

621 E PRATT ST SUITE 401
BALTIMORE,MD21202 		N/A PUBLIC GENERAL OPERATIONS 150,000

VINEGAR HILL FOOD PANTRY

196 WYCKOFF STREET
BROOKLYN,NY11217 		N/A PUBLIC GENERAL OPERATIONS 500

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 120,000

WEEKEND BACKPACKS

PO BOX 21486
BALTIMORE,MD21282 		N/A PUBLIC GENERAL OPERATIONS 50,000

WIDE ANGLE YOUTH MEDIA

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

WOMEN'S HEALTH CENTER OF WEST VIRGINIA

PO BOX 5160
CRESAPTOWN,MD21505 		N/A PUBLIC GENERAL OPERATIONS 100,000

WORLD FOOD PROGRAM USA

1750 H STREET NW SUITE 500
WASHINGTON,DC20006 		N/A PUBLIC GENERAL OPERATIONS 35,000

WYPR RADIO

2216 NORTH CHARLES STREET
BALTIMORE,MD21218 		N/A PUBLIC GENERAL OPERATIONS 50,000

YALE UNIVERSITY

PO BOX 208241
NEW HAVEN,CT06520 		N/A PUBLIC GENERAL OPERATIONS 5,000
Total .................................right arrow 3a 18,984,201
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
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 2,395,766  
4 Dividends and interest from securities ....     14 1,458,130  
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 21,859  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 2,147,269  
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 6,023,024 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
6,023,024
(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 (2024)
Form 990-PF (2024)
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.
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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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREP FEES 36,955 0   36,955

TY 2024 InvestmentsCorpStockSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Name of Stock End of Year Book Value End of Year Fair Market Value
SECURITIES 55,318,175 66,098,766

TY 2024 InvestmentsOtherSchedule2
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BLACKSTONE REAL ESTATE PARTNERS VII FMV 783,501 783,501
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND LP - SERIES I-UNLEVERED FMV 303,218 303,218
CAMDEN PARTNERS STRATEGIC FUND VI LP FMV 853,442 853,442
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP FMV 2,283,733 2,283,733
CYPRESS PERFORMANCE GROUP LLC FMV 64,576 64,576
FIRSTMARK CAPITAL OF III LP FMV 851,082 851,082
FIRSTMARK CAPITAL OF IV LP FMV 218,139 218,139
FP CREDIT PARTNERS II AGGREGATOR-A LP FMV 1,111,758 1,111,758
SEVENTH CINVEN FUND (NO. 1) LP FMV 855,539 855,539
SHARPVUE CAPITAL OPPORTUNITY QP FUND LP FMV 388,747 388,747
STRATEGIC PARTNERS RE VIII FEEDER FMV 311,466 311,466
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND AIV LP - SERIES I-AIV I FMV 50,564 50,564
BXD SERIES PROGRAM I-ST (CYM) LP FMV 871,083 871,083
EIGTH CINVEN FUND NO. 2 LIMITED PARTNERSHIP FMV 251,241 251,241
THE RESOLUTE FUND VI LP FMV 769,631 769,631

TY 2024 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 3,037,848 2,494,498 2,494,498
INVESTMENT DISTRIBUTION RECEIVABLE 189,484 261,077 261,077
FUND FOR EDUCATIONAL EXCELLENCE RECEIVABLE 0 50,000 50,000


TY 2024 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 32,492 32,492   0
BANK FEES 560 0   0
BUSINESS MEALS 2,416 0   2,416
WORKERS COMP 396 0   396
IT SERVICES 225 225   0
PAYROLL PROCESSING FEES 1,946 0   1,946
BLACKSTONE REAL ESTATE PARTNERS VII.F 346 346   0
BLACKSTONE REAL ESTATE PARTNERS X.F (AV-MH.3) LP 20,216 19,323   0
BLACKSTONE REAL ESTATE PARTNERS X.F LP 13,653 14,692   0
BLACKSTONE REAL ESTATE PARTNERS X.TE-F (OFFSHORE) 11,188 11,868   0
CAMDEN PARTNERS STRATEGIC FUND VI, LP 23,731 23,731   0
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP 32,908 23,150   0
CYPRESS PERFORMANCE GROUP, LLC 2,248 93   0
FIRSTMARK CAPITAL OF III 20,867 20,867   0
SEVENTH CINVEN FUND (NO 1) LP 4,376 4,376   0
SHARPVUE CAPITAL OPPORTUNITY OP FUND LP 8,350 8,350   0
STRATEGIC PARTNERS FUND V, LP 105 105   0
MISC EXPENSE 12 0   0
BLACKSTONE REAL ESTATE PARTNERS X.F (AV-MH.1) LP 53,945 15,772   0
FIRSTMARK CAPITAL OF IV 41,020 41,020   0
FELLOWSHIP STIPENDS 6,000 0   0
PARKING 720 0   0
VIRTUAL ASSISTANT 49,250 0   0
MANAGEMENT FEES 386,721 386,721   0
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND - SERIES I-UNLEVERED 199 199   0
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND AIV LP - SERIES I-AIV-I 86 86   0
FP CREDIT PARTNERS II AGGREGATOR - A, LP 22 22   0
STRATEGIC PARTNERS RE VIII FEEDER O - 3 LP 88 88   0
THE RESOLUTE FUND VI 104,286 83,318   0
SHIPPING 1,330 0   0


TY 2024 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 249 249 249
BLACKSTONE RE PARTNERS X. TE-F (OFFSHORE) (CAN) LP 39 39 39
MISCELLANEOUS INCOME 7,869 7,869 7,869
BLACKSTONE SENIOR DIRECT LENDING FEEDER FUND - SERIES I-UNLEVERED 13,702 13,702 13,702


TY 2024 OtherLiabilitiesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Description Beginning of Year - Book Value End of Year - Book Value
BARCS ANIMAL SHELTER PAYABLE 20,000 0
CHARITABLE CONTRIBUTIONS PAYABLE 0 11,673
CREDIT CARD PAYABLE 0 220


TY 2024 TaxesSchedule
Name:
SHERMAN FAMILY FOUNDATION
EIN:
52-6723302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAXES 132,429 19,726   13,933
CENTERBRIDGE SPECIAL CREDIT PARTNERS IV LP - FOREIGN TAXES 37 37   0
BLACKSTONE REAL ESTATE PARTNERS X.TE-F (OFFSHORE) (CAN) LP - FOREIGN TAXES 81 81   0