irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $12.79MFISCAL 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)(S) 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.
- #2 $507KAGENCY 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 4-6% 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 $400 MILLION IN LOANS THROUGH ALF. FJC CURRENTLY HAS $16.4 MILLION IN LOANS OUTSTANDING WITH 13 NONPROFIT BORROWERS.
named programs · 5 · from sources
What they call their work
Agency Loan Fund
Pooled impact investment vehicle where donor capital is used to provide short-to-intermediate-term loans to nonprofit organizations for capital projects, cash flow, or bridging grant receivables.
Customized Loans
Enables donors to recommend loans from their DAF accounts to specific nonprofits with terms (interest rate, maturity) determined by the donor; loans can be converted to grants or repaid to the donor’s account.
Donor-Advised Funds (DAF)
Provides donor-advised fund accounts that allow individuals to make charitable contributions, receive immediate tax benefits, and recommend grants to qualified 501(c)(3) organizations over time.
Fiscal Sponsorship
Provides fiscal sponsorship services to support emerging nonprofits and charitable projects, allowing them to receive tax-deductible donations through FJC’s 501(c)(3) status.
Young Philanthropist Fund
Donor-advised fund for college-age or younger individuals, requiring a $1,800 minimum contribution to encourage early engagement in philanthropy.
activities · 3 groups
What they do
-
Donor-Advised Fund Grantmaking 2 activities
- Facilitating donor-advised fund creation and managementFJC assists donors in creating charitable funds for specific causes or in memory of loved ones, including through the Young Philanthropist Fund, which engages younger family members with a $1,800 minimum contribution.
- Funding nonprofit organizations through donor-advised grantsFJC administers donor-advised funds that enable tax-deductible contributions and subsequent grants to charities selected by donors. FJC account holders granted over $36 million to more than 2,100 nonprofit organizations in the prior year, and FJC has deployed over $1 billion in grants through donor-advised funds since inception.
-
-
Small Business and Nonprofit Lending 1 activity
- Providing philanthropic capital solutions and financial services to nonprofitsFJC offers bridge financing, equity-like investments, revolving funds, and loan servicing to support nonprofit stability and operations. It also manages origination and servicing of donor-recommended loans and supports the creation of revolving loan funds and restricted endowments for entrepreneurial nonprofits.
-
-
Uncategorized 4 activities
- Funding collective giving campaigns with matching contributionsFJC organizes and supports collective giving campaigns, such as one that raised over $147,000 for six organizations addressing the impacts of the Covid-19 pandemic, with FJC matching donor contributions dollar-for-dollar through its Special Initiatives Fund.
- Funding nonprofit organizations through loan programsFJC operates the Agency Loan Fund, which finances loans to a diversified pool of nonprofit organizations. The fund has deployed over $364 million in loans to more than 200 nonprofits globally, including specific loans such as $3.5 million to Life of Hope and $3.9 million to Queens Community House. IRS-990 filings confirm hundreds of millions in loans advanced, with tens of millions in outstanding loans to numerous nonprofit borrowers.
- Processing complex charitable donations and disbursementsFJC facilitates donations of real estate and ownership interests in private or lightly traded companies, processes donor-recommended investments in alternative assets, implements ACH transfers via Bill.com for faster grant payments, and processes grant recommendations within ten business days.
- Providing fiscal sponsorship to charitable projects and startupsFJC provides fiscal sponsorship to grassroots organizations and charitable startups, enabling them to receive tax-deductible donations and access funding and operational support under FJC’s 501(c)(3) status. This includes supporting projects toward independent 501(c)(3) status and administering grants and vendor payments on their behalf.
-
financials · form 990 · fy2024
revenue
Total revenue$79.36M
Contributions & grants$63.30M80%
Program service revenue$2.60M3%
Investment income$13.46M17%
Other revenue$0
expenses
Total expenses$49.48M
Program expenses95%
Admin / overhead4%
Fundraising0%
Salaries & benefits$2.08M
Grants paid out$45.81M
Largest expense lineCompensation
balance sheet
Total assets$462.27M
Cash$113.15M
Investments$343.31M
Liabilities$40.24M
Net assets$422.03M
Liquid reserves110.7 mo
6 years on record · 2019–2024 · YoY revenue +34.8%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 7
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| SAMUEL MARKS | CEO | 40 | $375K |
| REGINA RODRIGUEZ | CFO/CIO | 40 | $287K |
| MEGHAN HUDSON | COO | 40 | $245K |
| HILLARY ZILZ | SECRETARY, CHIEF LEGAL OFFICER | 40 | $230K |
| ORLANDO COLON | CONTROLLER | 40 | $196K |
| TIMOTHY NICOL | SENIOR MANAGER THRU MAY 2025 | 40 | $130K |
| ALLISON VAN HEE | SENIOR MANAGER | 40 | $126K |
board members · 8
- AMBER RANDOLPH — DIRECTOR
- BRINDA GANGULY — DIRECTOR
- GARY FINGER — DIRECTOR
- JIM ROTHKOPF — DIRECTOR
- JONATHAN GOLD — DIRECTOR
- LORIN SILVERMAN — PRESIDENT & TREASURER
- MARK COHEN — DIRECTOR AS OF APRIL 2024
- NEAL MYERBERG — DIRECTOR
relationships · 37
Who they work with
- Bill.com Partner — Uses Bill.com to enable ACH bank transfers for faster grant disbursements to grantees.
- CNYCN ERMA Partner — Worked with a donor to establish a revolving loan fund to help New Yorkers avoid foreclosure.
- Candid Partner — Partners with Candid to power donor portal access to a comprehensive database of 501(c)(3) charities.
- Central Brooklyn Food Cooperative Partner — Fiscally sponsored cooperatively owned grocery store supporting a just and sustainable food system.
- Changing Ground Project Partner — Fiscally sponsored project aiming to transform low-density areas into mixed-use neighborhoods using land readjustment.
- Commons Library Limited Partner — Fiscally sponsored online library for changemakers and social change advocates.
- Cultural Heritage Finance Alliance Partner — Provides loan servicing and back office support to enable CHiFA’s international project loan fund operations.
- Depth of Field Partner — Fiscally sponsored program training young filmmakers from marginalized communities.
- Eli Sunshine Foundation Partner — Fiscally sponsored foundation raising awareness and funding research for Ewing Sarcoma.
- FJC Board of Directors Government — Approves loans originated and underwritten by FJC staff through the Agency Loan Fund
- HERE Arts Partner — Worked with donors to establish a customized loan fund with concessionary terms to support the organization.
- HERE Arts Center Partner — Supported a donor in providing a below-market-rate loan to assist the nonprofit theater with cash flow management.
- Life of Hope Partner — Provided a $3.5 million loan to acquire a property for a community hub serving youth and immigrant families in Central Brooklyn.
- Life of Hope Partner — Provided a $3.5 million loan to support acquisition of a community hub in Central Brooklyn.
- Mental Health Workforce Fund Partner — Fiscally sponsored collaborative fund providing grants to address mental health workforce shortages in NYC.
- Neal Myerberg Partner — Founding Board Member who collaborated with FJC leadership to shape its early direction and philosophy.
- New York City Economic Development Corporation Partner — Employer of board member Brinda Ganguly, indicating a professional affiliation.
- New York Public Library Partner — Facilitated a major gift from a donor's real estate donation to support the library.
- New York State Attorney General Government — Regulatory body with which FJC files financial reports, ensuring compliance and transparency.
- Queens Community House Partner — Provided a $3.9 million bridge loan to support the revitalization of the Forest Hills Community Center.
- Rob Kaufold Partner — Appointed member of FJC's Board of Directors, bringing expertise in philanthropic strategy and family office financial management.
- Robert Wood Johnson Foundation Partner — Employer of board member Amber M. Randolph, indicating a professional affiliation.
- STREB Inc. Partner — Provided multiple loans to bridge receipt of contract receivables.
- Special Initiatives Fund Funder — FJC's fund that matched donor contributions during the 2020 Collective Giving Campaign.
- The Ali Forney Center Partner — Recipient of a $1 million revolving line of credit facilitated by FJC and funded via a donor advised fund at FJC.
- The Bell Partner — Fiscally sponsored project providing journalism training and mentorship to NYC students.
- The Debt Gala Partner — Fiscally sponsored project hosting a fundraising event to support economic justice organizations.
- The Doe Fund Partner — Provided a $5 million loan package to secure a building site and cover predevelopment costs for a project in the Bronx.
- The Steve Fund Network — Participates in FJC's Fiscal Sponsorship Program.
- The Steve Fund Partner — Provided fiscal sponsorship services enabling the organization to focus on its mission.
+ 7 more
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Blended Financial Tools for Philanthropic Impactmethodology: blended financeBy deploying a mix of loans, grants, and impact investments through donor-advised funds, FJC increases the flexibility and longevity of philanthropic capital, because combining financial instruments allows donors to support nonprofits in ways beyond traditional giving.
- Fiscal Sponsorship as Infrastructuremethodology: fiscal_sponsorshipBy providing fiscal sponsorship, FJC enables emerging charitable initiatives to operate legally and receive tax-deductible donations, because having a compliant organizational structure removes barriers to launch and scale.
- Impact Investing via Donor-Advised Loan Fundmethodology: impact_investingBy offering the Agency Loan Fund as an investment option, FJC enables donors to generate social impact through nonprofit loans while preserving or growing capital, because mission-aligned lending produces both financial returns and operational support for grantees.