Nonprofit · EIN 85-3967606
SCHERMCO FOUNDATION INC
Tax-exempt · CHARLOTTE, NC 28205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2026 | 990 | $185,744 | $85,853 | $99,891 | $425,213 | $1,247 | $423,966 |
| June 30, 2025 | 990 | $110,457 | $93,482 | $16,975 | $549,472 | $225,398 | $324,074 |
| December 31, 2024 | 990 | $349,639 | $312,499 | $37,140 | $320,917 | $13,818 | $307,099 |
| December 31, 2023 | 990 | $245,546 | $159,917 | $85,629 | $285,672 | $15,713 | $269,959 |
Financial details: 990 for the year ended June 30, 2026
Revenue
- Contributions, gifts and grants
- $96,756
- Program service revenue
- $83,500
- Investment income
- $5,488
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $2,120
- Travel
- $1,023
- Program services (functional)
- $83,527
- Management and general (functional)
- $2,326
Balance sheet and other
- Total assets, start of year
- $549,472
- Total assets, end of year
- $425,213
- Total liabilities, end of year
- $1,247
- Net assets, end of year
- $423,966
- Net assets without donor restrictions
- $423,966
- Gross receipts
- $185,744
- Employees
- 2
- Volunteers
- 0
- Year formed
- 2020
- State of legal domicile
- NC
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 for the year ended June 30, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Greg Schermbeck | Board Chair Trustee or director, Officer | 1 | $0 |
| Lori Schermbeck | Secretary Trustee or director, Officer | 1 | $0 |
| Brandon Zeigler | Treasurer Trustee or director, Officer | 1 | $0 |
| Crystal Rountree | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2025: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Greg Schermbeck | Board Chair Trustee or director, Officer | 1 | $0 |
| Lori Schermbeck | Secretary Trustee or director, Officer | 1 | $0 |
| Brandon Zeigler | Treasurer Trustee or director, Officer | 1 | $0 |
| Crystal Rountree | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Greg Schermbeck | Board Chair Trustee or director, Officer | 1 | $0 |
| Lori Schermbeck | Secretary Trustee or director, Officer | 1 | $0 |
| Brandon Zeigler | Treasurer Trustee or director, Officer | 1 | $0 |
| Crystal Rountree | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Greg Schermbeck | Board Chair Trustee or director, Officer | 1 | $0 |
| Lori Schermbeck | Secretary Trustee or director, Officer | 1 | $0 |
| Brandon Ziegler | Treasurer Trustee or director, Officer | 1 | $0 |
| Crystal Rountree | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3039 N ALEXANDER ST, CHARLOTTE, NC 28205-1524
- Principal officer (990 for 2025)
- Gregory Schermbeck, 3039 N Alexander St, Charlotte, NC 28205
- Signed the 990
- Gregory Schermbeck, Chair
- Phone
- (419) 367-0119
- Website
- scherm.co
- Return prepared by
- BNA CPAs & Advisors
Mission
The organization was formed to further invest and support equity in education.
Program accomplishments
- Increase educational equity by investing in supporting organizations through family empowerment, strategic implementation services, and workforce developmentExpenses $83,527 · revenue $88,988
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | 990 on file |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | Check at the IRS |
IRS record
- EIN
- 85-3967606
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B02)
- Assets (IRS master file)
- $425,213
- Income (IRS master file)
- $185,744
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2026 | $185,744 | $85,853 | $425,213 | XML |
| 990 | June 2025 | $110,457 | $93,482 | $549,472 | XML |
| 990 | December 2024 | $349,639 | $312,499 | $320,917 | IRS |
| 990 | December 2023 | $245,546 | $159,917 | $285,672 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | 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 85-3967606).
Questions about SCHERMCO FOUNDATION INC
- What is the EIN of SCHERMCO FOUNDATION INC?
- The employer identification number (EIN) of SCHERMCO FOUNDATION INC is 85-3967606.
- Is SCHERMCO FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to SCHERMCO FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SCHERMCO FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SCHERMCO FOUNDATION INC due?
- The return for tax year 2026 (the year ending June 30, 2027) is due November 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SCHERMCO FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2026.
- Who is the principal officer of SCHERMCO FOUNDATION INC?
- The 990 for the year ended June 30, 2026 names Gregory Schermbeck.
- Who are the officers and directors of SCHERMCO FOUNDATION INC?
- The 990 for the year ended June 30, 2026 lists 4 people; 0 received compensation from the organization.
- How much revenue does SCHERMCO FOUNDATION INC have?
- On its 990 for the year ended June 30, 2026 it reported revenue of $185,744, expenses of $85,853 and total assets of $425,213 at year end.
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