Merrill Sherman: Giving Is Its Own Reward

Monday, November 29, 2010

Michele Adamo, Business Contributor

When it comes to personal philanthropy, Merrill Sherman’s attitude is founded on the premise that giving is its own reward. “After working with a number of organizations,” says Sherman, “I’ve realized that with philanthropy, you get back far more than you give. I learn new things, I meet interesting people, and I get an opportunity to make a difference. What more is there?”

Recently named one of the 25 Most Powerful Women in Banking by US Banker, Sherman is a well-known leader in the Rhode Island community. Her current repertoire of personal volunteerism includes the Providence Foundation (since 1997), Crossroads Rhode Island (since 2002), and Rhode Island School of Design (since 2000).

Why the Providence Foundation?

As Sherman explains, “I live in the city, and I believe in the need for a great urban environment. The Providence Foundation’s strong leadership is directly responsible for much of the urban revitalization we’ve seen downtown, from the moving of the rivers to the storefront initiatives.” Sherman believes the Foundation’s programs have worked well to bring new life to the city: “Just compare Providence to cities like Hartford.”

Why Crossroads Rhode Island?

“With Crossroads’ social services focus,” says Sherman, “we’re helping to fill a pressing—and unfortunately growing—need. And I really feel that those who’ve had some degree of personal success have an obligation to help.” How did Sherman initially become involved? “I already knew who they were and that they were solving a problem in the community and, quite simply, they asked me.”

Why Rhode Island School of Design?

According to Sherman, her volunteer role with RISD is a personal passion. “I’ve always been interested in art, and I love meeting artists and seeing the world from their perspective.” She continues, “Not only is RISD a major employer in the state (and located in Providence, the Creative Capital), but they’re also the premier art university in the country. Helping to facilitate their work allows me to make a difference in the lives of so many people for years to come.”

One of Sherman’s major successes at RISD was chairing the search committee that saw John Maeda installed at RISD’s helm. “John is just brilliant. He really impressed those of us on the search committee from the beginning, and he’s doing a great job with RISD now.”
When asked about her choice of nonprofit organizations, Sherman points to their distinct missions: “Each group has a unique position in the area, and they fill very different needs.” In the same way, Sherman’s work fills a unique position in Rhode Island’s philanthropic community.