Civic Intelligence

Schermco Foundation Inc.

990 • Fiscal year 2024 • EIN 85-3967606

Jan 01, 2024 to Dec 31, 2024 • Filed on May 13, 2025

Organization Profilescherm.co
809 Westmere Avenue C146Charlotte, NC 28208

(419) 367-0119

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.04x

Higher debt load relative to assets than 79% of similar nonprofits.

2024 filings • NTEE B • <$500k nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

0.04x

Higher debt load relative to revenue than 81% of similar nonprofits.

2024 filings • NTEE B • <$500k nonprofits • Source year 2024

Net Margin

56th percentile

11%

Higher net margin than 56% of similar nonprofits.

2024 filings • NTEE B • <$500k nonprofits • Source year 2024

Top Officer Pay

86th percentile

$0

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • NTEE B • <$500k nonprofits • Source year 2024

Asset Growth

63rd percentile

12%

Faster asset growth than 63% of similar nonprofits.

2024 filings • NTEE B • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

42%

Faster revenue growth than 77% of similar nonprofits.

2024 filings • NTEE B • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$320,917

Up $35,245 (+12%) from 2023

Net Assets

Up

$307,099

Up $37,140 (+14%) from 2023

Liabilities

Down

$13,818

Down $1,895 (-12%) from 2023

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin56th percentile

Revenue

Up

$349,639

Up $104,093 (+42%) from 2023

Expenses

Up

$312,499

Up $152,582 (+95%) from 2023

Net Income

Down

$37,140

Down $48,489 (-57%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2020: $49,000Liabilities 2020: $735Net Assets 2020: $48,2652020Assets 2021: $97,295Liabilities 2021: $02021Assets 2022: $184,329Liabilities 2022: $0Net Assets 2022: $184,3292022Assets 2023: $285,672Liabilities 2023: $15,713Net Assets 2023: $269,9592023Assets 2024: $320,917Liabilities 2024: $13,818Net Assets 2024: $307,0992024Assets 2025: $549,472Liabilities 2025: $225,398Net Assets 2025: $324,0742025

Highlighted filing

2024

Assets$320,917
Liabilities$13,818
Net Assets$307,099
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0Revenue 2020: $50,750Expenses 2020: $2,485Net Income 2020: $48,2652020Revenue 2021: $114,099Expenses 2021: $65,069Net Income 2021: $49,0302021Revenue 2022: $120,375Expenses 2022: $33,341Net Income 2022: $87,0342022Revenue 2023: $245,546Expenses 2023: $159,917Net Income 2023: $85,6292023Revenue 2024: $349,639Expenses 2024: $312,499Net Income 2024: $37,1402024Revenue 2025: $110,457Expenses 2025: $93,482Net Income 2025: $16,9752025

Highlighted filing

2024

Revenue$349,639
Expenses$312,499
Net Income$37,140
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 13, 2025
Return Version
2024v5.1
Gross Receipts
$349,639
Mission and Program Overview

Mission

Increase educational equity by investing

The organization was formed to further invest and support equity in education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$216,668$260,016▲ $43,348
Accounts Receivable$55,200$44,750▼ $10,450
Savings and Temporary Cash Investments$13,804$16,151▲ $2,347
Total Assets$285,672$320,917▲ $35,245
Liabilities
Deferred Revenue-$8,713-
Accounts Payable and Accrued Expenses$15,713$5,105▼ $10,608
Total Liabilities$15,713$13,818▼ $1,895
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$269,959$307,099▲ $37,140
Total Net Assets Fund Balance$269,959$307,099▲ $37,140
Total Liabilities and Net Assets / Fund Balance$285,672$320,917▲ $35,245
Compensation and Service Providers
Top Officer Pay86th percentile

Board Members and Trustees

NameTitle
Greg SchermbeckBoard Chair
Crystal RountreeDirector
Lori SchermbeckSecretary
Brandon ZeiglerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$133,907
Program Service Revenue
$209,082
Investment Income
$6,650
Other Revenue
$0
All Other Contributions
$133,907
Change in Net Assets
$37,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$182,289
Other Expenses$130,210
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$152,756--$152,756
Fees for Services Management$14,026$12,000-$26,026
Other Employee Benefits$13,067--$13,067
Payroll Taxes$12,628--$12,628
Fees for Services Other$5,880--$5,880
Occupancy$4,655--$4,655
Pension Plan Contributions$3,838--$3,838
Travel$3,332--$3,332
Fees for Services Accounting-$3,238-$3,238
Information Technology$1,693--$1,693
Insurance-$1,423-$1,423
Other Expenses$1,035$1,234-$1,035
Office Expenses$587--$587
All Other Expenses-$144-$144
Total Functional Expenses$292,244$20,255$0$312,499
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“Greg Schermbeck and Lori Schermbeck are related. She is his mother.”

Form 990, Part VI, Section B, line 11B

“A draft copy of the tax return will be provided to the governing body before the return is filed.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, conflict of interest policy, and Form 990 available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
SchermCo Foundation
EIN
85-3967606
Phone
4193670119
Address
809 Westmere Avenue C146, Charlotte, NC 28208

Signing Officer

Name
Gregory Schermbeck
Title
Chair
Phone
4193670119
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Schermbeck
Formed
2020
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
2
Employees
3
Volunteers
4

Preparer

Firm
BNA CPAs & Advisors
Address
596 Herrons Ferry Rd 5th Floor, Rock Hill, SC 29730
Preparer
Bernard N Ackerman CPA
Phone
8033668371
Raw XML Appendix334 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570707119
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BNA CPAs & Advisors
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0596 Herrons Ferry Rd 5th Floor
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rock Hill
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029730
ReturnHeader/PreparerPersonGrp/PhoneNum08033668371
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Bernard N Ackerman CPA
ReturnHeader/ReturnTs02025-05-14T08:45:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$320,917
Liabilities
$13,818
Net assets
$307,099
Revenue
$349,639
Expenses
$312,499
Net income
$37,140
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.49$2.25$3.24$1.10$0.93$0.17
2024Detailed filing. Detailed filing data is available for this year.$3.21$0.14$3.07$3.50$3.12$0.37
2023Summary only. Only limited summary data is available for this year.$2.86$0.16$2.70$2.46$1.60$0.86
2022Detailed filing. Detailed filing data is available for this year.$1.84$0.00$1.84$1.20$0.33$0.87
2021Summary only. Only limited summary data is available for this year.$0.97$0.00$1.14$0.65$0.49
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.01$0.48$0.51$0.02$0.48