SHERMAN FOUNDATION

EIN: 952672431 501(c)(3) Environment

NEWPORT BEACH, CA

Total Revenue
$8,408,928
Total Expenses
$3,729,710
Total Assets
$27,547,436
Net Assets
$27,369,111
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1951
Legal Domicile
CA
Principal Officer
GARY PICKETT
Phone
9496421626
Tax Period
2023-10-01 to 2024-09-30

SHERMAN FOUNDATION, founded in 1951, is a community nonprofit in the Environment sector that reported $8.4M in total revenue in fiscal year 2023. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.7M, a strong 56% operating margin.

Mission

THE MISSION OF SHERMAN FOUNDATION IS THE OPERATION OF SHERMAN LIBRARY & GARDENS LOCATED IN CORONA DEL MAR, CA. THE MISSION OF SHERMAN LIBRARY & GARDENS IS TO PROVIDE THE PUBLIC AN OASIS OF INSPIRATION, EDUCATION AND APPRECIATION OF REGIONAL HISTORY, HORTICULTURE AND THE ARTS. SHERMAN GARDENS FEATURES AN EXTENSIVE BOTANICAL COLLECTION THAT SPANS THE GLOBE, RANGING FROM PLANT LIFE OF THE DESERT TO EXOTIC VEGETATION OF TROPICAL CLIMES. SHERMAN LIBRARY IS A HISTORICAL RESEARCH LIBRARY SPECIALIZING IN THE HISTORY OF THE PACIFIC SOUTHWEST, AS WELL AS HOME TO A COLLECTION OF CALIFORNIA IMPRESSIONIST ART.

Program Service Accomplishments

Program 1
Expenses: $2,984,721 Revenue: $823,905

SHERMAN GARDENS HAD 97,191 VISITORS, AN INCREASE OF 8% OVER THE PRIOR YEAR. THIS YEAR, THE SHERMAN GARDENS VOLUNTEER ASSOCIATION WORKED 9,915 HOURS AND DOCENTS WORKED 3,403 HOURS. SHERMAN GARDENS...

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SHERMAN GARDENS HAD 97,191 VISITORS, AN INCREASE OF 8% OVER THE PRIOR YEAR. THIS YEAR, THE SHERMAN GARDENS VOLUNTEER ASSOCIATION WORKED 9,915 HOURS AND DOCENTS WORKED 3,403 HOURS. SHERMAN GARDENS REINSTITUTED EDUCATIONAL TOURS OF THE BOTANICAL GARDENS FOR SCHOOL CHILDREN IN GRADES 3 THROUGH 5 BUSED IN FROM ALL PARTS OF ORANGE COUNTY, CA. STUDENTS FROM FORTY THREE ELEMENTARY SCHOOLS (1,620 STUDENTS) TOOK PART IN OUR FIELD TRIP PROGRAM. LESSON PLANS WERE DEVELOPED FOR THE DAY PRIOR TO THE TOUR AND FOR THE DAY AFTER THE TOUR. TRANSPORTATION COSTS WERE FUNDED BY SHERMAN GARDENS THROUGH DONATIONS.SHERMAN LIBRARY PARTNERED WITH A LOCAL ART MUSEUM FOR AN EXHIBIT OF SHERMAN LIBRARY & GARDEN'S ART COLLECTION. THREE SEPARATE ART EXHIBITS WERE CONDUCTED AT SHERMAN LIBRARY THAT FOCUSED ON THE HISTORY OF SOUTHERN CALIFORNIA. HISTORICAL RESEARCHERS UTILIZED 2,560 RECORDS AND ARTIFACTS FROM SHERMAN LIBRARY AND OUR PHOTO DATABASE HAD OVER 23,040 VIEWS.

Program 2
Expenses: $226,360 Revenue: $99,185

SHERMAN LIBRARY HAD 23,040 VIEWS OF OUR HISTORICAL PHOTO DATABASE, AND 2,560 RECORDS AND ARTIFACTS ACCESSED BY RESEARCHERS. THE LIBRARY HAD OVER 5,100 VISITORS DURING THE YEAR. OUR STAFF ASSISTED 548...

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SHERMAN LIBRARY HAD 23,040 VIEWS OF OUR HISTORICAL PHOTO DATABASE, AND 2,560 RECORDS AND ARTIFACTS ACCESSED BY RESEARCHERS. THE LIBRARY HAD OVER 5,100 VISITORS DURING THE YEAR. OUR STAFF ASSISTED 548 SERIOUS RESEARCHERS IN THEIR STUDY OF THE HISTORY OF THE PACIFIC SOUTHWEST, WHICH IS THE MAIN FOCUS OF THE LIBRARY. VOLUNTEERS WORKED 1,209 HOURS, DOCENTS WORKED 460 HOURS AND INTERNS WORKED 400 HOURS AT THE LIBRARY. EACH CATEGORY EXCEEDED THE PRIOR YEAR. SHERMAN LIBRARY RECEIVED ADDITIONAL PIECES OF EARLY CALIFORNIA IMPRESIONIST ART FROM A DONOR WHO PREVIOUSLY DONATED 40 PAINTINGS THAT SHERMAN LIBRARY RESTORED AND DISPLAYED.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,745,322
Program Service Revenue $423,883
Investment Income $1,394,262
Other Revenue $845,461
TOTAL REVENUE $8,408,928

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,132,024
Fundraising Expenses $394,167
Program Expenses $3,211,081
Other Expenses $1,516,131
TOTAL EXPENSES $3,729,710

Year-over-Year Comparison

2023 2022 Change
Revenue $8,408,928 $5,293,708 +0.6%
Expenses $3,729,710 $3,398,042 +0.1%
Net Income $4,679,218 $1,895,666 +1.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
8
Employees
48
Volunteers
125

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$1,013,073
Total Directors
10
$1,115,073
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY PICKETT President 15.00
Officer Director
$0 $0 $998,073
A SCOTT LAFLEUR EXEC DIR-SL&G 40.00
$317,041 $0 $317,041
KYLE CHEESBOROUGH GARDEN DIRECTOR 40.00
$169,979 $0 $169,979
JILL THRASHER DIR OF LIBRARY 40.00
$106,209 $0 $106,209
DT DANIELS Trustee 1.00
Director
$0 $0 $102,000
TIM COLLINS Treasurer 4.00
Officer Director
$0 $0 $15,000
PETER ROONEY Trustee 0.20
Director
$0 $0 $0
C STACY CANNON Trustee 0.20
Director
$0 $0 $0
WILLIAM B AVERY Vice President 0.20
Officer Director
$0 $0 $0
KRISTIN YOKOMOTO Trustee 0.20
Director
$0 $0 $0
JUDY POSNIKOFF Trustee 0.20
Director
$0 $0 $0
JAMES RAY Trustee 6.00
Director
$0 $0 $0
JANET RAY Trustee 6.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $8,408,928 $3,729,710 $27,547,436 $4,679,218
2023 $5,293,708 $3,398,042 $22,843,748 $1,895,666
2022 $2,966,996 $2,584,599 $20,971,786 $382,397
2021 $2,139,928 $2,134,261 $20,536,448 $5,667
2020 $1,724,352 $1,913,403 $20,509,157 $-189,051
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