Fsg INC FY2022 filing

Tax-deductible

Boston, MA501(c)(3)Since 2005Community DevelopmentEIN 20-2776974

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Fsg's mission is to accelerate social progress by working with foundations, nonprofit organizations, governments and corporations to increase their impact on solving social problems.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $276K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $3.1M
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$8.7M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$21.6M
-28% vs prior year
Spent
$23.8M
To programs
84%
Net assets
$16.1M
By yearFY2020–FY2024
Revenue
$21.6M
FY2022▼ -28%
Revenue by fiscal year
FY2020$24.4M
FY2021$30.2M
FY2022$21.6M
FY2023$15.3M
FY2024$14.1M
Expenses
$23.8M
FY2022▲ +8%
Expenses by fiscal year
FY2020$22.3M
FY2021$22.1M
FY2022$23.8M
FY2023$21.8M
FY2024$17.1M
Net assets
$16.1M
FY2022▼ -17%
Net assets by fiscal year
FY2020$11.2M
FY2021$19.3M
FY2022$16.1M
FY2023$9.7M
FY2024$6.7M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $20.1M Management & general 15% · $3.5M Fundraising 1% · $221K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer (until 11/18/22)
$366,669Pt VII · Sec A
Managing Director
$328,014Pt VII · Sec A
Managing Director
$272,377Pt VII · Sec A
Managing Director
$262,789Pt VII · Sec A
Managing Director - Geneva
$262,233Pt VII · Sec A
Interim Co-Chief Executive Officer
$260,707Pt VII · Sec A
CFO and Interim Co-Chief Executive Officer
$252,182Pt VII · Sec A
Managing Director
$236,139Pt VII · Sec A

John Harper’s $372K as CEO is at the 65th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sebastien Mazzuri—$381,034$262,233——
John Harper$372,467$275,103$262,789$250,285—
Gregory Hills—$306,519$366,669$342,384$349,347
Marc Pfitzer———$277,255$348,613
Fay Hanleybrown$339,397$329,696$328,014$325,911$307,210
Hallie Preskill————$317,911
Dane Smith———$310,084$317,088
Mark Kramer———$89,791$313,062

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps foundations, nonprofits, and governments increase their impact on social problems.

Provided by the organization

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3 programs · $10.0M · in their own filed words · FY2022
01

FSG'S us health practice engaged in 20 projects over the course of 2022. Much of the work was with foundations, though we engaged with two very large health care companies on enterprise-wide health equity strategies.

$4.0Mprogram expense
02

FSG worked on nearly 50 projects with an economic mobility focus in 2022, spanning five continents. Global work focused on wash in several african nations, a collective impact project in bangladesh, shared value support for an asset management company in bolivia, and work on smes with a large beverage company.

$3.2Mprogram expense
03

FSG worked on 15+ education & youth projects in 2022, of various sizes and scale. Our clients spanned companies, foundations, and nonprofits. Topically, projects covered many different issues in the education space and included both place-based and national strategies.

$2.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 8 funders →
Grants paid · 4 grants · $100K · 2020–2021

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$21.6M
Ln 12
Fees for servicesLn 2g$16.5M
Gifts and grantsLn 1h$4.6M
Other incomeLn 4–11$313K
Money outPt IX
$23.8M
Ln 25
Programscol B$20.1M
Managementcol C$3.5M
Fundraisingcol D$221K
Owns and owesPt X
$16.1M
net assets · Ln 32
Cash and savingsLn 1–2$15.2M
Total assetsLn 16$24.8M
LiabilitiesLn 26$8.7M
PeoplePt VI, VII
17
listed · VII A
PaidVII A10
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Government grantsLn 1e$1.9M
Noncash giftsLn 1g$161K
Fees for servicesLn 2g$16.5M
Investment incomeLn 3$175K
Other incomeLn 4–11$313K
Total revenueLn 12$21.6M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$12.4M
Cash and savings togetherLn 1–2$15.2M
InvestmentsLn 11–13$492K
Land, buildings, equipmentLn 10c$258K
Other assetsLn 15$5.0M
Total assetsLn 16$24.8M
LiabilitiesLn 26$8.7M
Net assetsLn 32$16.1M
OperationsPt I, VI
EmployeesI 5112
VolunteersI 6158
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$19.9M$15.2M
InvestmentsLn 11–13$492K$492K
Land, buildings, equipmentLn 10c$416K$258K
Total assetsLn 16$24.5M$24.8M
LiabilitiesLn 26$5.2M$8.7M
Net assetsLn 32$19.3M$16.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.4M$780K$640K$19K
Other salaries and wagesLn 7$10.6M$9.0M$1.5M$95K
Pension plan contributionsLn 8$121K$101K$19K$918
Other employee benefitsLn 9$1.2M$992K$184K$9K
Payroll taxesLn 10$965K$778K$180K$7K
Legal feesLn 11b$143K$143K
Accounting feesLn 11c$162K$162K
Other fees for servicesLn 11g$5.4M$5.2M$130K$40K
Office expensesLn 13$891K$746K$133K$12K
Information technologyLn 14$146K$122K$22K$2K
OccupancyLn 16$1.4M$1.2M$215K$20K
TravelLn 17$360K$300K$55K$5K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$176K$147K$27K$2K
InsuranceLn 23$91K$76K$14K$1K
Other expenses (24a–d)Ln 24$771K$689K$76K$7K
All other expensesLn 24e$20K$16K$5K
Total functional expensesLn 25$23.8M$20.1M$3.5M$221K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $14.1M$17.1M−$3.0M$6.7M 990 PDF
FY2023 $15.3M$21.8M−$6.5M$9.7M 990 PDF
FY2022 Viewing $21.6M$23.8M−$2.2M$16.1M 990 PDF
FY2021 $30.2M$22.1M$8.1M$19.3M 990 PDF
FY2020 $24.4M$22.3M$2.1M$11.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (5 parts)
Part I · Summary $21,649,064 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,264,556$4,619,686
I-9 Program service revenuePrior year $15,954,589$16,540,904
I-10 Investment incomePrior year $19,507$175,054
I-11 Other revenuePrior year $1,665$313,420
I-12 Total revenuePrior year $30,240,317$21,649,064
I-13 Grants and similar amounts paidPrior year $40,484$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $12,431,073$14,313,075
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,634,509$9,531,051
I-18 Total expensesPrior year $22,106,066$23,844,126
I-19 Revenue less expensesPrior year $8,134,251−$2,195,062
Part VIII · Statement of revenue $21,649,064 across 8 lines filed
VIII-1e Government grants$1,874,502
VIII-1f All other contributions, gifts and grants$2,745,184
VIII-1g Noncash contributions (included above)$161,288
VIII-1h Total contributions, gifts and grants$4,619,686
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,540,904$16,540,904
VIII-3 Investment incomeExcluded from tax $175,054$175,054
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $313,420$313,420
VIII-12 Total revenueRelated to mission $16,854,324 · Unrelated business $0 · Excluded from tax $175,054$21,649,064
Part IX · Statement of functional expenses $23,844,126 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $779,775 · Management $639,902 · Fundraising $19,430$1,439,107
IX-7 Other salaries and wagesPrograms $9,037,807 · Management $1,470,894 · Fundraising $94,987$10,603,688
IX-8 Pension plan contributionsPrograms $100,656 · Management $18,997 · Fundraising $918$120,571
IX-9 Other employee benefitsPrograms $991,617 · Management $184,330 · Fundraising $8,843$1,184,790
IX-10 Payroll taxesPrograms $778,168 · Management $179,718 · Fundraising $7,033$964,919
IX-11b Legal feesManagement $143,115$143,115
IX-11c Accounting feesManagement $162,353$162,353
IX-11g Other fees for servicesPrograms $5,181,468 · Management $130,464 · Fundraising $40,153$5,352,085
IX-13 Office expensesPrograms $746,097 · Management $132,853 · Fundraising $12,237$891,187
IX-14 Information technologyPrograms $121,857 · Management $22,243 · Fundraising $2,049$146,149
IX-16 OccupancyPrograms $1,180,025 · Management $215,396 · Fundraising $19,840$1,415,261
IX-17 TravelPrograms $300,394 · Management $54,832 · Fundraising $5,051$360,277
IX-20 InterestManagement $1,420$1,420
IX-22 Depreciation, depletion and amortizationPrograms $147,047 · Management $26,840 · Fundraising $2,472$176,359
IX-23 InsurancePrograms $75,992 · Management $13,871 · Fundraising $1,278$91,141
IX-24 Other expenses (24a–d)Programs $688,697 · Management $75,563 · Fundraising $6,960$771,220
IX-24e All other expensesPrograms $15,500 · Management $4,984$20,484
IX-25 Total functional expensesPrograms $20,145,100 · Management $3,477,775 · Fundraising $221,251$23,844,126
Part X · Balance sheet $24,844,786 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,379,426$2,800,830
X-2 Savings and temporary cash investmentsStart of year $18,480,608$12,390,807
X-3 Pledges and grants receivableStart of year $443,217$715,062
X-4 Accounts receivableStart of year $2,078,959$2,633,961
X-9 Prepaid expenses and deferred chargesStart of year $626,244$596,555
X-10c Land, buildings and equipment, netStart of year $415,656$257,780
X-13 Program-related investmentsStart of year $492,184$492,184
X-15 Other assetsStart of year $536,487$4,957,607
X-16 Total assetsStart of year $24,507,788$24,844,786
X-17 Accounts payable and accrued expensesStart of year $1,832,200$2,380,588
X-19 Deferred revenueStart of year $730,351$651,414
X-25 Other liabilitiesStart of year $716,507$5,675,234
X-26 Total liabilitiesStart of year $5,165,199$8,707,236
X-27 Net assets without donor restrictionsStart of year $14,978,429$13,600,343
X-28 Net assets with donor restrictionsStart of year $4,364,160$2,537,207
X-32 Total net assets or fund balancesStart of year $19,342,589$16,137,550
X-33 Total liabilities and net assetsStart of year $24,507,788$24,844,786
Part XI · Reconciliation of net assets $16,137,550 net assets at year end
XI-1 Total revenue$21,649,064
XI-2 Total expenses$23,844,126
XI-3 Revenue less expenses−$2,195,062
XI-4 Net assets at start of year$19,342,589
XI-5 Net unrealized gains (losses) on investments−$7
XI-9 Other changes in net assets−$1,009,970
XI-10 Net assets at end of year$16,137,550

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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