Nonprofit · EIN 23-1352110
INDEPENDENCE FOUNDATION
Tax-exempt · PHILADELPHIA, PA 19102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $6,883,106 | $6,199,962 | $683,144 | $85,496,117 | $0 | $85,496,117 |
| December 31, 2024 | 990-PF | $8,171,196 | $6,367,509 | $1,803,687 | $78,079,662 | $0 | $78,079,662 |
| December 31, 2023 | 990-PF | $4,148,973 | $5,978,681 | -$1,829,708 | $73,777,166 | $0 | $73,777,166 |
| December 31, 2021 | 990-PF | $5,495,323 | $6,549,256 | -$1,053,933 | $84,695,452 | $0 | $84,695,452 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $1,791,795
- Interest
- $7,970
- Net gain from sales of assets
- $5,083,341
Expenses
- Grants and similar amounts paid
- $3,960,806
- Compensation of officers, directors and key employees
- $404,166
- Salaries, compensation and benefits (total)
- $523,484
- Disbursements for charitable purposes
- $5,704,826
- Excise tax on investment income
- $90,954
Balance sheet and other
- Total assets, start of year
- $78,079,662
- Total assets, end of year
- $85,496,117
- Total liabilities, end of year
- $0
- Net assets, end of year
- $85,496,117
- Fair market value of assets
- $85,316,374
- Qualifying distributions
- $5,704,826
- Net investment income
- $6,883,106
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REGINALD SHUFORD 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | PRESIDENT, CEO | 40 | $226,349 | $34,416 |
| JENNIFER BOHNENBERGER 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | CHIEF OPERATING OFFI Highest-paid employee | 40 | $192,785 | $72,979 |
| SUSAN E SHERMAN SEVERENCE 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | FORMER PRESIDENT, CEO | 0 | $177,817 | $9,849 |
| HEATHER MCDANEL 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | PEER LEARNING Highest-paid employee | 40 | $169,353 | $39,484 |
| KATE E TEJADA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | OFFICE ADMINISTRATOR Highest-paid employee | 40 | $102,090 | $51,647 |
| CATHERINE C CARR 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | VICE PRESIDENT | 2 | $0 | $0 |
| DERICK DREHER 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | SECRETARY | 2 | $0 | $0 |
| VIK DEWAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| LOREE JONES 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| DAVID LOGAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| JOYCE WILKERSON 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
990-PF for the year ended December 31, 2024: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SUSAN E SHERMAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | PRESIDENT, CEO | 40 | $353,472 | $53,410 |
| HON PHYLLIS W BECK 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | BOARD CHAIR | 40 | $249,442 | $28,979 |
| JENNIFER BOHNENBERGER 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | CHIEF OPERATING OFFI Highest-paid employee | 40 | $189,615 | $73,343 |
| HEATHER MCDANEL 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | PEER LEARNING Highest-paid employee | 40 | $146,724 | $32,830 |
| KATE E TEJADA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | OFFICE ADMINISTRATOR Highest-paid employee | 40 | $125,881 | $43,891 |
| ANN TORREGROSSA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | HEALTH & LEGAL SERVI Highest-paid employee | 40 | $70,976 | $8,598 |
| ROSE TOMLINSON 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | ADMINISTRATIVE ASSIS Highest-paid employee | 40 | $53,156 | $5,778 |
| CATHERINE C CARR 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | VICE PRESIDENT | 2 | $0 | $0 |
| DERICK DREHER 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | SECRETARY | 2 | $0 | $0 |
| VIK DEWAN START 62024 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| LOREE JONES 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| DAVID LOGAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| JOYCE WILKERSON 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
990-PF for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SUSAN E SHERMAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | PRESIDENT, CEO | 40 | $347,792 | $52,526 |
| HON PHYLLIS W BECK 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | BOARD CHAIR | 40 | $239,691 | $28,326 |
| JENNIFER BOHNENBERGER 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | CHIEF OPERATING OFFI Highest-paid employee | 40 | $166,041 | $65,652 |
| HEATHER MCDANEL 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | PEER LEARNING Highest-paid employee | 40 | $132,088 | $30,511 |
| ANN TORREGROSSA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | HEALTH & LEGAL SERVI Highest-paid employee | 40 | $96,912 | $10,660 |
| KATE E TEJADA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | OFFICE ADMINISTRATOR Highest-paid employee | 40 | $93,493 | $39,557 |
| ROSE TOMLINSON 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | ADMINISTRATIVE ASSIS Highest-paid employee | 40 | $50,624 | $6,449 |
| CATHERINE C CARR 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | SECRETARY | 2 | $0 | $0 |
| DERICK DREHER 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | ASST. SECRETARY | 2 | $0 | $0 |
| LOREE JONES 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| DAVID LOGAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
| JOYCE WILKERSON 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER (SINCE 04/23) | 2 | $0 | $0 |
990-PF for the year ended December 31, 2021: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SUSAN E SHERMAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | PRESIDENT, CEO | 40 | $322,705 | $37,568 |
| HON PHYLLIS W BECK 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | BOARD CHAIR, CFO | 40 | $225,817 | $26,825 |
| JENNIFER BOHNENBERGER 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | CHIEF OPERATING OFFI Highest-paid employee | 40 | $143,358 | $58,877 |
| HEATHER MCDANEL 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | PEER LEARNING Highest-paid employee | 40 | $92,918 | $10,221 |
| ANN TORREGROSSA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | HEALTH & LEGAL SERVI Highest-paid employee | 40 | $89,609 | $9,857 |
| KATE E TEJADA 200 SOUTH BROAD STREET, PHILADELPHIA, PA 19102 | OFFICE ADMINISTRATOR Highest-paid employee | 40 | $76,530 | $35,217 |
| ANDRE L DENNIS ESQUIRE 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | VICE PRESIDENT | 2 | $0 | $0 |
| BARTON M SILVERMAN 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | VICE PRESIDENT | 2 | $0 | $0 |
| CATHERINE C CARR 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | SECRETARY | 2 | $0 | $0 |
| DERICK DREHER 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | ASST. SECRETARY | 2 | $0 | $0 |
| LOREE JONES 200 S BROAD STREET SUITE 1101, PHILADELPHIA, PA 19102 | MEMBER | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 200 S BROAD ST STE 1101, PHILADELPHIA, PA 19102-3802
- In care of
- % OFFICES AT THE BELLEVUE
- Signed the 990-PF
- REGINALD T SHUFORD ESQ, PRESIDENT & CEO
- Phone
- (215) 985-4009
- Return prepared by
- RKL LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 23-1352110
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1946
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $85,496,117
- Income (IRS master file)
- $10,968,306
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $6,883,106 | $6,199,962 | $85,496,117 | XML |
| 990-PF | December 2024 | $8,171,196 | $6,367,509 | $78,079,662 | IRS |
| 990-PF | December 2023 | $4,148,973 | $5,978,681 | $73,777,166 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | $5,495,323 | $6,549,256 | $84,695,452 | XML |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2019 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-1352110).
Questions about INDEPENDENCE FOUNDATION
- What is the EIN of INDEPENDENCE FOUNDATION?
- The employer identification number (EIN) of INDEPENDENCE FOUNDATION is 23-1352110.
- Is INDEPENDENCE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1946.
- Are donations to INDEPENDENCE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does INDEPENDENCE FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of INDEPENDENCE FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDEPENDENCE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of INDEPENDENCE FOUNDATION?
- The 990-PF for the year ended December 31, 2025 lists 11 people; 5 received compensation from the organization, the highest $226,349 (REGINALD SHUFORD, PRESIDENT, CEO).
- How much revenue does INDEPENDENCE FOUNDATION have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $6,883,106, expenses of $6,199,962 and total assets of $85,496,117 at year end.
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