2023-09-14T13:45:46-05:00 2022-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-01-01 202776974 FSG INC FSGI 6173574000 179 LINCOLN STREET BOSTON MA 02111 JENNIFER COOPERMAN CFO & INTERIM CO-CEO 6173574000 2023-09-07 1 JENNIFER COOPERMAN XXX-XX-XXXX 1 DAVID KELLEHER CPA P01059560 5083669100 2023-09-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JENNIFER COOPERMAN 179 LINCOLN STREET BOSTON MA 02111 21649064 0 X WWW.FSG.ORG X 2005 MA 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. 7 6 96 59 0 0 14264556 4619686 15954589 16540904 19507 175054 1665 313420 30240317 21649064 40484 0 0 0 12431073 14313075 0 0 221251 9634509 9531051 22106066 23844126 8134251 -2195062 24507788 24844786 5165199 8707236 19342589 16137550 X FSG IS AN INTERNATIONAL NONPROFIT SOCIAL ENTERPRISE WITH A MISSION OF ACCELERATING THE PACE OF SOCIAL PROGRESS THROUGH PHILANTHROPIC LEADERSHIP. FSG ACHIEVES ITS MISSION BY PROVIDING STRATEGY CONSULTING, PROGRAM EVALUATION, RESEARCH AND THOUGHT LEADERSHIP TO THE NONPROFIT AND PHILANTHROPIC COMMUNITIES. 0 0 2798006 2298428 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. PROJECTS FOCUSED ON A STATE-SPECIFIC EVALUATION OF EDUCATION SYSTEMS CHANGE WORK, U.S. EDUCATION STRATEGY FOR A MULTINATIONAL CORPORATE FOUNDATION, A DEVELOPMENTAL EVALUATION AND A LEARNING COMMUNITY AROUND CHILD WELFARE, A STRATEGIC REVIEW OF A FOUNDATION'S EDUCATION PORTFOLIO, AND A STRATEGIC LEARNING FRAMEWORK FOR A COMMUNITY COLLEGE. 4003983 3289080 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. OUR EVALUATION AND LEARNING PROJECTS FOCUSED ON ADOLESCENT MENTAL HEALTH, CHILD DEVELOPMENT, FOOD INITIATIVES, FAMILY-SUPPORTIVE PROGRAMMING, A LEARNING COHORT FOR HEALTH FOUNDATION GRANTEES, AND SHARED MEASUREMENT SUPPORT FOR GRANTEES. OTHER WORK INCLUDED PLACE-BASED COLLECTIVE IMPACT IMPLEMENTATION SUPPORT FOR A COMMUNITY FOUNDATION AND LANDSCAPE PROFILING FOR A CORPORATE FOUNDATION. 3198375 2627312 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. MANY OTHER PROJECTS, WITH COMPANIES, FOUNDATIONS, AND NONPROFITS, HAD A WORKFORCE DEVELOPMENT FOCUS. FSG ALSO WORKED WITH SEVERAL FINANCIAL INSTITUTION'S FOUNDATIONS IN THE U.S. ON STRATEGIES TO SUPPORT ECONOMIC MOBILITY AND INCLUSIVE ECONOMIES. 10144736 8639504 FSG COMPLETED NUMEROUS FIELD-BUILDING AND KNOWLEDGE PROJECTS, FULFILLING OUR MISSION OF ACCELERATING THE PACE OF SOCIAL PROGRESS THROUGH PHILANTHROPIC LEADERSHIP. AS PART OF OUR FIELD-BUILDING ACTIVITIES, FSG AND ITS LEARNING COMMUNITIES (THE COLLECTIVE IMPACT FORUM AND TALENT REWIRE) HOSTED NUMEROUS VIRTUAL EVENTS (WEBINARS, CONFERENCES, CONVENINGS) FOR PRACTITIONERS AND PHILANTHROPIC LEADERS ON A VARIETY OF TOPICS. WE ALSO DEVELOPED AND PUBLISHED NEW RESEARCH AND TOOLS ON HOW TO ADDRESS SOCIAL PROBLEMS AND EVALUATE SOCIAL IMPACT, WHICH WE MAKE AVAILABLE FOR FREE ON OUR WEBSITES AS PDFS, PODCASTS, AND VIDEOS. 10144736 8639504 20145100 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 51 0 1 96 1 0 1 SZ IN 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 MA CA NY X X JENNIFER COOPERMAN CFO & INTERIM CO-CEO 6173574000 179 LINCOLN STREET BOSTON MA 02111 GREGORY HILLS CHIEF EXECUTIVE OFFICER (UNTIL 11/18/22) 60.00 X 366669 0 29626 FAY HANLEYBROWN MANAGING DIRECTOR 60.00 X 328014 0 32489 JEFFREY COHEN MANAGING DIRECTOR 60.00 X 272377 0 15957 JOHN HARPER MANAGING DIRECTOR 60.00 X 262789 0 15513 JENNIFER COOPERMAN CFO AND INTERIM CO-CHIEF EXECUTIVE OFFICER 60.00 X 252182 0 23224 SEBASTIEN MAZZURI MANAGING DIRECTOR - GENEVA 60.00 X 262233 0 6293 ROBERTA SILTEN INTERIM CO-CHIEF EXECUTIVE OFFICER 60.00 X 260707 0 5914 CHIRLIE FELIX MANAGING DIRECTOR 60.00 X 236139 0 24874 SHUMECA PICKETT MANAGING DIRECTOR 60.00 X 233289 0 11826 MARK RUSSELL CHIEF MARKETING & COMMUNICATION 60.00 X 199900 0 31166 JOHN KANIA DIRECTOR 2.00 X 0 0 0 JANE WALES BOARD CHAIR 2.00 X 0 0 0 LANCE FORS DIRECTOR 2.00 X 0 0 0 CLOTILDE PEREZ-BODE DEDECKER DIRECTOR 2.00 X 0 0 0 LAUREN SMITH DIRECTOR 2.00 X 0 0 0 MARK KRAMER DIRECTOR 2.00 X 0 0 0 ANGELA GLOVER BLACKWELL DIRECTOR (UNTIL 12/31/22) 2.00 X 0 0 0 2674299 0 196882 47 0 1 0 GAIL GERSHON 275 WEST 96TH ST APT 26A NEW YORK NY 10025 CONSULTING FOR TALENT REWIRE AND SHARED 232813 COURAGEOUS CAPITAL ADVISORS LLC 7425 PELICAN BAY BLVD APT 905 NAPLES FL 34108 ADVISORY SERVICES FOR CLIENT PROJECT 184175 HALLIE PRESKILL CONSULTING LLC 5 CHURCH LANE APT 306 WESTPORT CT 06880 SENIOR ADVISOR SERVICES FOR FSG AND ADVI 128250 LEADING INSIDE OUT LLC 2846 N STOWELL AVENUE MILWAUKEE WI 53211 SENIOR ADVISOR SERVICES FOR CI FORUM AND 114448 MINTZ LEVIN COHN FERRIS GLOVSKY & P ONE FINANCIAL CENTER BOSTON MA 02212 LEGAL SERVICES 109462 5 1874502 2745184 161288 4619686 CONSULTING SERVICES 541900 15946447 15946447 CONFERENCE PRESENTATIONS 541900 594457 594457 16540904 175054 175054 MISCELLANEOUS REVENUE 900099 313420 313420 313420 21649064 16854324 0 175054 X 1439107 779775 639902 19430 10603688 9037807 1470894 94987 120571 100656 18997 918 1184790 991617 184330 8843 964919 778168 179718 7033 143115 143115 162353 162353 5352085 5181468 130464 40153 891187 746097 132853 12237 146149 121857 22243 2049 1415261 1180025 215396 19840 360277 300394 54832 5051 1420 1420 176359 147047 26840 2472 91141 75992 13871 1278 FIELD BUILDING AND OUTR 302582 302582 DUES AND FEES 275417 229463 42078 3876 MISCELLANEOUS 147970 121898 23873 2199 EQUIPMENT RENTAL AND MA 45251 34754 9612 885 20484 15500 4984 23844126 20145100 3477775 221251 1379426 2800830 18480608 12390807 443217 715062 2078959 2633961 626244 596555 1212471 954691 415656 257780 55007 492184 492184 536487 4957607 24507788 24844786 1832200 2380588 730351 651414 11639 1874502 716507 5675234 5165199 8707236 X 14978429 13600343 4364160 2537207 19342589 16137550 24507788 24844786 X -2195062 -7 -1009970 X X 0 1 X 1 0 X 6987817 4563115 7453449 4264556 4619686 27888623 19083794 16882267 16935576 15956254 16854324 85712215 26071611 21445382 24389025 20220810 21474010 113600838 3259917 2318883 6347738 1496000 1971000 15393538 5418220 4563854 6173477 6128450 7027364 29311365 8678137 6882737 12521215 7624450 8998364 44704903 68895935 36047 272565 34804 19507 175054 537977 36047 272565 34804 19507 175054 537977 26107658 21717947 24423829 20240317 21649064 114138815 0.60360 0.60680 0.00470 0.00530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 643916 459135 184781 253121 253121 0 315434 242435 72999 257780 DEPOSITS 230059 DUE FROM RELATED PARTY - U.K. 329471 RIGHT-OF-USE ASSETS - FINANCE 108316 RIGHT-OF-USE ASSETS - OPERATING 4289761 4957607 RELATED PARTY PAYABLE - INDIA 168987 FINANCE LEASE LIABILITIES 108921 OPERATING LEASE LIABILITIES 5397326 5675234 X PART X, LINE 2: FSG ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FSG HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2022. SWITZERLAND 1 11 PROGRAM SERVICES SOCIAL IMPACT CONSULTING 2784817 INDIA 1 43 PROGRAM SERVICES SOCIAL IMPACT CONSULTING 2545024 UNITED KINGDOM 1 1 PROGRAM SERVICES SOCIAL IMPACT CONSULTING 158193 3 55 0 0 3 55 5488034 0 5488034 1 0 1 0 0 0 PART III ACCOUNTING METHOD: X X X X X 0 0 0 0 0 0 0 0 0 GREGORY HILLS CHIEF EXECUTIVE OFFICER (UNTIL 11/18 366669 0 0 0 0 0 4350 0 25276 0 396295 0 0 0 FAY HANLEYBROWN MANAGING DIRECTOR 328014 0 0 0 0 0 4350 0 28139 0 360503 0 0 0 JEFFREY COHEN MANAGING DIRECTOR 272377 0 0 0 0 0 3992 0 11965 0 288334 0 0 0 JOHN HARPER MANAGING DIRECTOR 262789 0 0 0 0 0 3709 0 11804 0 278302 0 0 0 JENNIFER COOPERMAN CFO AND INTERIM CO-CHIEF EXECUTIVE O 252182 0 0 0 0 0 0 0 23224 0 275406 0 0 0 SEBASTIEN MAZZURI MANAGING DIRECTOR - GENEVA 262233 0 0 0 0 0 0 0 6293 0 268526 0 0 0 ROBERTA SILTEN INTERIM CO-CHIEF EXECUTIVE OFFICER 260707 0 0 0 0 0 3755 0 2159 0 266621 0 0 0 CHIRLIE FELIX MANAGING DIRECTOR 236139 0 0 0 0 0 0 0 24874 0 261013 0 0 0 SHUMECA PICKETT MANAGING DIRECTOR 233289 0 0 0 0 0 271 0 11555 0 245115 0 0 0 MARK RUSSELL CHIEF MARKETING & COMMUNICATION 199900 0 0 0 0 0 2861 0 28305 0 231066 0 0 0 X LICENSES 809 161288 COST OR SELLING PRIC 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 UPDATING BOARD SIZE AND TERMS OF BOARD SERVICE - CODIFY A MIN/MAX BOARD SIZE OF 7-13 MEMBERS, WHICH WE WILL BUILD TOWARD AND EXPAND OVER TIME - RETAIN 3-YEAR TERMS FOR BOARD MEMBERS, BUT INSTITUTE TERM LIMITS (2 CONSECUTIVE TERMS), WITH STAGGERING AND WITH ABILITY TO RETURN TO BOARD AFTER 1-YEAR ABSENCE - CLARIFYING OFFICER AND COMMITTEE RESPONSIBILITIES - FSG BOARD WILL REQUIRE AN ELECTED PRESIDENT (WILL ACT AS CHAIR), TREASURER, AND CLERK WITH SPECIFIC ROLES AND RESPONSIBILITIES - OFFICER TERMS OF 2 YEARS, WITH ANNUAL ELECTIONS IN FIRST HALF OF EACH FISCAL YEAR - RECOMMENDED STANDING COMMITTEES WILL BE SPECIFIED AND DUTIES DEFINED (AUDIT, GOVERNANCE, AND FINANCE), WITH THE ABILITY FOR THE BOARD TO FORM AND DISSOLVE OTHER COMMITTEES AS NEEDED - BOARD COMMITMENT TO PRINCIPLES OF DIVERSITY, EQUITY AND INCLUSION (DEI) CODIFIED IN THE BYLAWS TO ENSURE THIS IS A GROUNDING PRINCIPLE - SMALLER PROPOSED CHANGES THROUGHOUT BYLAWS INTENDED TO ALIGN ROLE OF PRESIDENT WITH BOARD CHAIR, CLARIFY LANGUAGE AROUND COMPENSATION/ CONFLICT OF INTEREST AND CEO ROLE AS A NONVOTING BOARD MEMBER, ALLOW FOR VIRTUAL MEETINGS AND MINUTES RECORD KEEPING, AND CLARIFY LANGUAGE IN SPECIFIC AREAS FORM 990, PART VI, SECTION B, LINE 11B A DETAILED REVIEW OF THE 990 IS PERFORMED BY TOP MANAGEMENT OF THE ORGANIZATION BEFORE FILING. THE 990 WAS PROVIDED TO THE AUDIT AND FINANCE COMMITTEE OF THE BOARD BEFORE FILING. THE 990 IS PROVIDED TO THE BOARD AT A SUBSEQUENT BOARD MEETING FOLLOWING ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ARE REQUIRED TO REVIEW AND SIGN THE WRITTEN CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. THIS FORM REQUIRES EACH PERSON TO IDENTIFY ANY RELATIONSHIPS THAT MAY POTENTIALLY BE CONFLICTS OF INTEREST UNDER THE POLICY. THE ORGANIZATION THEN INVESTIGATES THE POTENTIAL CONFLICT AND TAKES ANY APPROPRIATE ACTIONS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S SALARY WAS DETERMINED BY THE BOARD OF GOVERNANCE. IN MAKING ITS DECISIONS ON COMPENSATION LEVELS, THE BOARD RELIED ON COMPARATIVE COMPENSATION INFORMATION GATHERED IN 2021 FROM SIMILAR ORGANIZATIONS. THE CEO WAS NOT INVOLVED IN SETTING COMPENSATION LEVELS. COMPENSATION OF OFFICERS AND KEY EMPLOYEES WAS DETERMINED BY THE ORGANIZATION'S TOP MANAGEMENT OFFICIALS USING COMPARATIVE SALARY DATA FROM VARIOUS RESOURCES INCLUDING SALARY.COM/COMPANALYST AND AN INDEPENDENT COMPENSATION STUDY. IN NO CASE DID AN INDIVIDUAL WITH AN INTEREST IN A SPECIFIC COMPENSATION AMOUNT PARTICIPATE IN THE COMPENSATION APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. REQUESTS ARE TO BE MADE DIRECTLY TO THE INDIVIDUAL LISTED IN PART VI, SECTION C, LINE 20. FORM 990 AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THIRD PARTY WEBSITES SUCH AS GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL DIVISION OF PUBLIC CHARITIES. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 5,181,468. MANAGEMENT AND GENERAL EXPENSES 130,464. FUNDRAISING EXPENSES 40,153. TOTAL EXPENSES 5,352,085. FORM 990, PART XI, LINE 9: IMPAIRMENT LOSS -1,009,970. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FSG ADVISORY SERVICES PVT LTD 158 CST ROAD KALINA SANTACRUZ EAST MUMBAI IN 400 098 PROGRAM SERVICES IN FSG INC C 2774112 1304930 1.00000 1 FSG SOCIAL ADVISORS LIMITED 1-2 ACADEMY BLDNG FENSHAW ST LONDON UK N16LQ PROGRAM SERVICES UK FSG INC C 169794 -329471 1.00000 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 FSG ADVISORY SERVICES PVT LTD E 168987 FMV FSG SOCIAL ADVISORS LIMITED D 329471 FMV