AI Transparency Report
The David S & Janet R Sheridan Foundation appears to be a private foundation, as indicated by its consistent revenue and expense patterns, and the NTEE code T22 (Private Grantmaking Foundations). Over the past five years, the foundation has experienced fluctuating revenues and expenses. For instance, in 2023, it reported revenues of $364,309 against expenses of $523,675, resulting in a deficit. This trend of expenses exceeding revenue is also observed in 2022 ($284,341 revenue vs. $334,105 expenses) and 2021 ($113,486 revenue vs. $381,501 expenses), suggesting it's drawing from its asset base to fund its grantmaking activities.
The foundation maintains a healthy asset base, with assets consistently above $2 million, reaching $2,407,524 in 2023. Liabilities are minimal, consistently reported as $1 or $0, which is a strong indicator of financial stability and low financial risk. The absence of officer compensation reported across all filings suggests that the foundation's leadership may be unpaid or compensated through other means not captured in this specific line item, which can be a positive sign for donor confidence regarding administrative efficiency, though further detail would be needed to confirm. Overall, while the foundation has operated at a deficit in recent years, its substantial assets and minimal liabilities provide a solid financial cushion for its grantmaking mission.