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Nonprofiteer
← FJC

Form 990 for tax year 2022

Filed by FJC.

Totals

Total revenue
$62,322,298
Total expenses
$43,699,600
Contributions and grants received
$54,754,606
Grants paid
$33,155,765
Program service revenue
$2,204,595
Investment income
$5,363,097
Other revenue
$0
Total assets, end of year
$388,226,130
Total liabilities, end of year
$50,935,410
Net assets or fund balances, end of year
$337,290,720
Program services expenses (Part IX)
$41,844,460
Management and general expenses
$1,784,056
Fundraising expenses
$71,084
Program service expenses (Part III)
$41,844,460

Program services were 95.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $54,754,606

  • 1g · Noncash contributions included above

    $24,026,597

  • 2a · Program service revenue: AGENCY LOAN INTEREST

    total $1,820,258 · related or exempt $1,820,258

  • 2b · Program service revenue: EFA FUND MGMT FEES

    total $364,122 · related or exempt $364,122

  • 2c · Program service revenue: PROG-RELATED LOAN INTEREST

    total $20,215 · related or exempt $20,215

  • 3 · Investment income

    total $5,286,565 · excluded $5,286,565

  • 7a · Gross sales of assets other than inventory

    securities $69,356,413

  • 7b · Less cost or other basis and sales expenses

    securities $69,279,881

  • 7c · Gain or loss

    securities $76,532

  • 7d · Net gain or loss

    total $76,532 · excluded $76,532

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,867,465 · program services $32,867,465

  • 2 · Grants to domestic individuals

    total $5,000 · program services $5,000

  • 3 · Grants to foreign organizations and individuals

    total $283,300 · program services $283,300

  • 5 · Compensation of officers, directors and key employees

    total $985,455 · program services $461,218 · management and general $472,551 · fundraising $51,686

  • 7 · Other salaries and wages

    total $489,951 · program services $243,737 · management and general $243,134 · fundraising $3,080

  • 8 · Pension plan contributions

    total $13,194 · program services $7,313 · management and general $5,790 · fundraising $91

  • 9 · Other employee benefits

    total $109,184 · program services $42,463 · management and general $65,506 · fundraising $1,215

  • 10 · Payroll taxes

    total $90,451 · program services $41,936 · management and general $45,841 · fundraising $2,674

  • 11c · Fees: accounting

    total $64,000 · management and general $64,000

  • 11f · Fees: investment management

    total $630,074 · management and general $630,074

  • 11g · Fees: other

    total $74,002 · management and general $68,547 · fundraising $5,455

  • 12 · Advertising and promotion

    total $13,765 · management and general $6,882 · fundraising $6,883

  • 13 · Office expenses

    total $66,919 · program services $34,847 · management and general $32,072

  • 14 · Information technology

    total $142,738 · program services $111,791 · management and general $30,947

  • 16 · Occupancy

    total $154,969 · program services $123,976 · management and general $30,993

  • 17 · Travel

    total $4,199 · management and general $4,199

  • 19 · Conferences, conventions and meetings

    total $8,324 · program services $4,161 · management and general $4,163

  • 22 · Depreciation, depletion and amortization

    total $20,549 · program services $16,440 · management and general $4,109

  • 23 · Insurance

    total $30,334 · program services $17,095 · management and general $13,239

  • 24a · Other expenses: FISCAL SPONSORSHIP PROG

    total $7,583,718 · program services $7,583,718

  • 24b · Other expenses: FOREIGN DIVIDENDS TAX

    total $31,538 · management and general $31,538

  • 24c · Other expenses: STATE FILINGS FEES

    total $30,471 · management and general $30,471

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,897,157 · end of year $1,925,045

  • 2 · Savings and temporary cash investments

    beginning of year $119,334,414 · end of year $98,787,478

  • 4 · Accounts receivable

    beginning of year $26,190 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,723 · end of year $20,484

  • 10a · Land, buildings and equipment: cost or other basis

    $223,076

  • 10b · Land, buildings and equipment: accumulated depreciation

    $27,379

  • 10c · Land, buildings and equipment, net

    beginning of year $32,902 · end of year $195,697

  • 11 · Investments: publicly traded securities

    beginning of year $176,920,899 · end of year $207,016,241

  • 12 · Investments: other securities

    beginning of year $47,248,290 · end of year $42,354,785

  • 13 · Investments: program-related

    beginning of year $32,123,543 · end of year $31,150,786

  • 15 · Other assets

    beginning of year $2,793,939 · end of year $6,775,614

  • 17 · Accounts payable and accrued expenses

    beginning of year $88,456 · end of year $101,008

  • 18 · Grants payable

    beginning of year $489,429 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $49,719

  • 25 · Other liabilities

    beginning of year $47,367,454 · end of year $50,784,683

  • 27 · Net assets without donor restrictions

    beginning of year $330,664,379 · end of year $334,934,061

  • 28 · Net assets with donor restrictions

    beginning of year $2,787,339 · end of year $2,356,659

Mission and programs · 2022

Mission

TO SUPPORT THE NONPROFIT SECTOR THROUGH DONOR ADVISED FUNDS, FISCAL SPONSORSHIP, NONPROFIT LENDING, AND CUSTOMIZED PHILANTHROPIC SOLUTIONS.

  • DONOR ADVISED FUNDS & SPECIALIZED ACCOUNTS. FJC PROVIDES A BOUTIQUE, CUSTOMIZABLE SERVICE TO ITS ACCOUNT HOLDERS, COLLABORATING WITH IMAGINATIVE DONORS WHO SEEK MORE CREATIVE APPROACHES. WHILE MOST ACCOUNT HOLDERS AT FJC USE DONOR ADVISED FUND (DAF) ACCOUNTS FAIRLY CONVENTIONALLY (RECOMMENDING GRANTS TO THEIR FAVORITE CHARITIES), WE ACCOMMODATE DONORS WHO WANT TO DEPLOY FUNDS AS LOANS, RECOVERABLE GRANTS, OR IMPACT INVESTMENTS. WE HAVE HOSTED FUNDER COLLABORATIVES, SCHOLARSHIP AND AWARD PROGRAMS, AND OTHER VARIATIONS ON PHILANTHROPIC ACCOUNTS THAT MEET THE NEEDS OF BOTH DONORS AND AN EVOLVING NONPROFIT SECTOR.

    Expenses $30,690,382 · Grants $30,301,273 · Revenue $20,215

  • FISCAL SPONSORSHIP. FJC INCUBATES A WIDE RANGE OF NONPROFIT ORGANIZATIONS AND PROJECTS THAT HAVE NOT RECEIVED THEIR 501(C)(3) STATUS. OUR SCALED PLATFORM PROVIDES OPERATIONAL EFFICIENCIES TO PARTICIPANTS, ALLOWING THEM TO RECEIVE TAX-DEDUCTIBLE CONTRIBUTIONS AND DISTRIBUTE FUNDS AS GRANTS OR VENDOR PAYMENTS. WHILE SOME ORGANIZATIONS "GRADUATE" FROM OUR FISCAL SPONSORSHIP AND RECEIVE THEIR OWN 501(C)(3) DESIGNATION, OTHERS PREFER TO STAY WITH FJC TO TAKE ADVANTAGE OF OUR COST-EFFECTIVE SERVICES. THE PROGRAM IS FLEXIBLE REGARDING MISSION, SERVING ORGANIZATIONS THAT FOCUS ON ARTS, EDUCATION, SOCIAL SERVICES, HEALTH, RELIGION, THE ENVIRONMENT, AND MORE.

    Expenses $10,771,850 · Grants $2,854,492

  • AGENCY LOAN FUND. A BESPOKE IMPACT INVESTMENT OFFERED TO OUR DONORS AS PART OF OUR STANDARD INVESTMENT MENU, FJC'S AGENCY LOAN FUND (ALF) ALLOWS DONORS THE OPPORTUNITY TO INVEST A PORTION OF THEIR ACCOUNTS IN LOANS TO A DIVERSIFIED POOL OF NONPROFIT ORGANIZATIONS. FJC STAFF ORIGINATE AND UNDERWRITE THESE LOANS, WHICH ARE APPROVED BY A SUBCOMMITTEE OF FJC'S BOARD, WHICH MAINTAINS RIGOROUS CREDIT STANDARDS. INTEREST AND PRINCIPAL PAYMENTS FROM THE LOANS GROW THE ACCOUNTS OF PARTICIPATING DONORS (TYPICALLY BETWEEN 3-4% PER ANNUM). IN ADDITION TO FJC'S RIGOROUS CREDIT STANDARDS, CREDIT ENHANCEMENT ON THE POOL PROTECTS DONORS FROM PRINCIPAL LOSSES. SINCE ITS INCEPTION, FJC HAS DEPLOYED OVER $398 MILLION IN LOANS THROUGH ALF. FJC CURRENTLY HAS $16.8 MILLION IN LOANS OUTSTANDING WITH 17 NONPROFIT BORROWERS.

    Expenses $382,228 · Revenue $1,820,258

  • EFAS - ASSETS HELD FOR OTHERS. ASSETS HELD FOR OTHERS ARE FUNDS RECEIVED FROM NOT-FOR-PROFIT ORGANIZATIONS, SOME OF WHICH HAVE TRANSFERRED FUNDS TO FJC FOR THE PURPOSE OF INVESTING IN FJC'S AGENCY LOAN FUND, WHICH IS AVAILABLE TO PROVIDE SECURED INTEREST-BEARING LOANS TO CHARITABLE ORGANIZATIONS. THESE FUNDS CAN BE REDEEMED BY THE PARTICIPANTS IN ACCORDANCE WITH FJC'S POLICIES. FJC DOES NOT HAVE VARIANCE POWER OVER THE USE OF THESE ASSETS. ASSETS HELD FOR OTHERS ARE SUBJECT TO A MANAGEMENT FEE UP TO 1% ANNUALLY BASED UPON FUNDS INVESTMENT ALLOCATION.

    Revenue $364,122

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lorin Silverman

    PRESIDENT & TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Henry Bubel

    SECRETARY, THRU DEC. 2022

    Total calculated
    $0
    Hours/week
    1

  • Ronna Brown

    DIRECTOR, THRU DEC. 2022

    Total calculated
    $0
    Hours/week
    1

  • Gary Finger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brinda Ganguly

    DIRECTOR, AS OF MARCH 2023

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Gold

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Neal Myerberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amber Randolph

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Rothkopf

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Samuel Marks

    CEO

    Total calculated
    $324,323
    From this org
    $268,314
    From related orgs
    $0
    Other
    $56,009
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,287
    Bonus
    $0
    Other
    $1,027
    Deferred
    $8,122
    Nontaxable benefits
    $47,887
    Filer's total
    $324,323

  • Regina Rodriguez

    CFO/CIO

    Total calculated
    $244,595
    From this org
    $187,881
    From related orgs
    $0
    Other
    $56,714
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,204
    Bonus
    $0
    Other
    $677
    Deferred
    $5,759
    Nontaxable benefits
    $50,955
    Filer's total
    $244,595

  • Mark Cohen

    ASST. SECRETARY, CHIEF LEGAL OFFICER

    Total calculated
    $227,668
    From this org
    $217,619
    From related orgs
    $0
    Other
    $10,049
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,443
    Bonus
    $0
    Other
    $2,176
    Deferred
    $6,508
    Nontaxable benefits
    $3,541
    Filer's total
    $227,668

  • Meghan Hudson

    COO

    Total calculated
    $196,440
    From this org
    $158,918
    From related orgs
    $0
    Other
    $37,522
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,299
    Bonus
    $0
    Other
    $619
    Deferred
    $4,789
    Nontaxable benefits
    $32,733
    Filer's total
    $196,440

  • Orlando Colon

    CONTROLLER

    Total calculated
    $186,406
    From this org
    $134,510
    From related orgs
    $0
    Other
    $51,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,414
    Bonus
    $0
    Other
    $1,096
    Deferred
    $4,054
    Nontaxable benefits
    $47,842
    Filer's total
    $186,406

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
15 February 2024
IRS schema version
2022v5.0
Source object
202430439349302113

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