Fjc
- Assets
- $381.4m
- Revenue
- $65.1m
- Investments
- $47.2m
- Employees
- 12
- 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 03/2022, Fjc - A Foundation Of Philanthropic Funds employed 12 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 represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $59.5m during the year ending 03/2022. While expenses have increased by 4.7% per year over the past 7 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 3,254 individual grants totaling $156,645,119. 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
990T
Mission & Program ActivityExcerpts From the 990T 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:
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.
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 WHO 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, WHO MAINTAIN RIGOROUS CREDIT STANDARDS. IN ADDITION TO FJC'S RIGOROUS CREDIT STANDARDS, CREDIT ENHANCEMENT ON THE POOL PROTECTS DONORS FROM PRINCIPAL LOSSES. SINCE INCEPTION, FJC HAS DEPLOYED OVER $380 MILLION IN LOANS THROUGH ALF. FJC CURRENTLY HAS $21.9 MILLION IN LOANS OUTSTANDING WITH 21 NONPROFIT BORROWERS.
EFA - 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Marks CEO | Officer | 40 | $254,917 |
Mark Cohen Asst. Secretary, Chief Legal Officer | Officer | 40 | $208,555 |
Regina Rodriguez Cfo/cio | Officer | 40 | $174,838 |
Meghan Hudson COO | 40 | $144,829 | |
Orlando Colon Controller | 40 | $125,763 | |
Lorin Silverman President & Treasurer | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ariel Burger Project Development | 3/30/22 | $158,938 |
Cambridge Health Ventures Business Development | 3/30/22 | $147,000 |
Michael Schudrich Rabbi Services | 3/30/22 | $113,000 |
Fiduciary Technology Partners Llc Info Tech Support And Services | 3/30/22 | $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 $43,077,531 in support to 559 organizations.
| Grant Recipient | Amount |
|---|---|
Jacksonville, FL PURPOSE: UNRESTRICTED GENERAL SUPPORT | $13,079,133 |
New York, NY PURPOSE: UNRESTRICTED GENERAL SUPPORT | $3,004,120 |
Brooklyn, NY PURPOSE: UNRESTRICTED GENERAL SUPPORT | $1,500,000 |
Arlington, VA PURPOSE: UNRESTRICTED GENERAL SUPPORT | $1,232,346 |
Boston, MA PURPOSE: UNRESTRICTED GENERAL SUPPORT | $931,320 |
Arlington, VA PURPOSE: UNRESTRICTED GENERAL SUPPORT | $855,000 |
Grants Recieved
Over the last fiscal year, we have identified 39 grants that Fjc has recieved totaling $3,266,156.
| Awarding Organization | Amount |
|---|---|
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT A GRANTS PROGRAM FOCUSED ON START-UPS AND PILOT PROJECTS RELATED TO JEWISH POVERTY. | $575,000 |
The Seattle Foundation Seattle, WA PURPOSE: NYC FUND TO END YOUTH AND FAMILY HOMELESSNESS; SEE TRANSMITTAL LETTER FOR DETAIL | $560,000 |
Edgar M Leventritt Foundation Inc Cold Spring, NY PURPOSE: GENERAL | $470,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $320,443 |
American Endowment Foundation Hudson, OH PURPOSE: PHILANTHROPY | $150,000 |
Covenant Foundation New York, NY PURPOSE: See Part IV | $142,300 |
Endowment Analysis
| Beg. Balance | $30,204,934 |
| Earnings | $1,586,903 |
| Admin Expense | $4,023,000 |
| Ending Balance | $27,768,837 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fjc New York, NY | $381,397,057 | $65,059,967 |
Eac Inc Garden City, NY | $14,001,603 | $28,648,981 |
Community Legal Aid Inc Worcester, MA | $10,705,737 | $16,466,867 |
I Have A Dream Foundation New York, NY | $4,280,533 | $3,609,855 |
Cfa Society Boston Inc Boston, MA | $5,288,449 | $2,072,624 |
New Jersey Association For Justice Educational Foundation Inc Trenton, NJ | $774,500 | $1,685,412 |
Childrens Law Center Inc Hartford, CT | $1,609,797 | $1,213,365 |
West Family Foundation Chesterbrook, PA | $20,253,095 | $295,521 |
Storeworkers Security Plan Astoria, NY | $7,344,945 | $430,154 |
The Eder Family Foundation Inc West Haven, CT | $5,987,056 | $349,537 |
First Friends Of New Jersey And New York Kearny, NJ | $339,041 | $522,411 |
New York International Arbitration Center Inc New York, NY | $526,912 | $446,398 |