Fjc
- Assets
- $381.4m
- Revenue
- $65.1m
- Investments
- $47.2m
- Employees
- 15
- Location
- New York, NY
- Founding
- 01/1996
- Data as of
- 03/2022
- EIN
- 13-3848582
Organization Overview
Fjc, operating under the name Fjc - A Foundation Of Philanthropic Funds, is located in New York, NY. The organization was established in 1996. According to its NTEE Classification (I99) the organization is classified as: Crime & Legal-Related N.E.C., under the broad grouping of Crime & Legal-Related and related organizations. As of 03/2023, Fjc - A Foundation Of Philanthropic Funds employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fjc - A Foundation Of Philanthropic Funds is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Fjc - A Foundation Of Philanthropic Funds generated $65.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $59.5m during the year ending 03/2022. While expenses have increased by 10.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Fjc - A Foundation Of Philanthropic Funds has awarded 2,784 individual grants totaling $142,805,406. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE NONPROFIT SECTOR THROUGH DONOR ADVISED FUNDS, FISCAL SPONSORSHIP, NONPROFIT LENDING, AND CUSTOMIZED PHILANTHROPIC SOLUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorin Silverman President & Treasurer | OfficerTrustee | 10 | $0 |
Henry Bubel Secretary, Thru Dec. 2022 | OfficerTrustee | 1 | $0 |
Ronna Brown Director, Thru Dec. 2022 | Trustee | 1 | $0 |
Gary Finger Director | Trustee | 1 | $0 |
Brinda Ganguly Director, As Of March 2023 | Trustee | 1 | $0 |
Jonathan Gold Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oren Jacobson Project Development | 3/30/23 | $120,000 |
Iremedy Healthcare Inc Healthcare Support And Services | 3/30/23 | $167,868 |
Commercial Furniture Interiors Inc Interior Design Services | 3/30/23 | $100,315 |
Fiduciary Technology Partners Llc Info Tech Support And Services | 3/30/23 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,895,068 |
| Noncash contributions included in lines 1a–1f | $12,538,912 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,895,068 |
| Total Program Service Revenue | $2,615,290 |
| Investment income | $4,571,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,978,192 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,059,967 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,836,996 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $266,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $768,820 |
| Compensation of current officers, directors, key employees. | $392,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $596,630 |
| Pension plan accruals and contributions | $19,494 |
| Other employee benefits | $165,237 |
| Payroll taxes | $89,412 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $79,086 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $683,918 |
| Fees for services: Other | $57,807 |
| Advertising and promotion | $0 |
| Office expenses | $69,807 |
| Information technology | $161,959 |
| Royalties | $0 |
| Occupancy | $99,532 |
| Travel | $1,355 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,947 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,044 |
| Insurance | $31,920 |
| All other expenses | $0 |
| Total functional expenses | $59,498,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,897,157 |
| Savings and temporary cash investments | $119,334,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,723 |
| Net Land, buildings, and equipment | $32,902 |
| Investments—publicly traded securities | $176,920,899 |
| Investments—other securities | $47,248,290 |
| Investments—program-related | $32,123,543 |
| Intangible assets | $0 |
| Other assets | $2,793,939 |
| Total assets | $381,397,057 |
| Accounts payable and accrued expenses | $88,456 |
| Grants payable | $489,429 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,367,454 |
| Total liabilities | $47,945,339 |
| Net assets without donor restrictions | $330,664,379 |
| Net assets with donor restrictions | $2,787,339 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $381,397,057 |
Grants Awarded
Over the last fiscal year, Fjc has awarded $30,271,128 in support to 617 organizations.
| Grant Recipient | Amount |
|---|---|
4G44 ESPORTS PURPOSE: GENERAL OPERATING SUPPORT | $18,000 |
50CAN INC PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
92ND STREET YM & YWHA PURPOSE: GENERAL OPERATING SUPPORT | $19,599 |
ABRAHAMIC HOUSE PURPOSE: GENERAL OPERATING SUPPORT | $13,500 |
A TORAH INFERTILITY MEDIUM OF EXCHANGE PURPOSE: GENERAL OPERATING SUPPORT | $24,960 |
ACHIEVEMENT FIRST INC PURPOSE: GENERAL OPERATING SUPPORT | $1,010,000 |