FIDELITY NON-PROFIT MANAGEMENT FOUNDATION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- FIDELITY NON-PROFIT MANAGEMENT FOUNDATION (EIN 22-3195349)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-12
- IRS object ID
- 202043179349307704
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-12T15:21:54-06:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042387531 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SULLIVAN & WORCESTER LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE POST OFFICE SQUARE | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223195349 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIDELITY NON-PROFIT MANAGEMENT | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FIDE | BusinessNameControlTxt |
| Phone | 6176467418 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 WATER STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MAURA MARX | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6176467418 | PhoneNum |
| Signature | 2020-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN GRAHAM | PreparerPersonNm |
| PTIN | P00041039 | PTIN |
| Phone | 6173382800 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 192.223.236.130 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-11-12 | IPDt |
| IP Tm | 15:21:50 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 6CE4384BAE5235D213432B3FDB9A3081E7C82BC2 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MAURA MARX | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 WATER STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $596,015,030 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1992 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | SEE PART III LINE 1 | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $199,310,558 | PYContributionsGrantsAmt |
| CY Contributions Grants | $13,789,807 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $183,631,109 | PYInvestmentIncomeAmt |
| CY Investment Income | $366,914,769 | CYInvestmentIncomeAmt |
| PY Other Revenue | $139,839 | PYOtherRevenueAmt |
| CY Other Revenue | $2,887,586 | CYOtherRevenueAmt |
| PY Total Revenue | $383,081,506 | PYTotalRevenueAmt |
| CY Total Revenue | $383,592,162 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $33,381,646 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $134,308,518 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $349,000 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,237,616 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $544,877 | PYOtherExpensesAmt |
| CY Other Expenses | $660,388 | CYOtherExpensesAmt |
| PY Total Expenses | $34,275,523 | PYTotalExpensesAmt |
| CY Total Expenses | $136,206,522 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $348,805,983 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $247,385,640 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,674,450,896 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,021,140,913 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,674,450,896 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,021,140,913 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | MAKING GRANTS AND CONDUCTING SUPPORTING ACTIVITIES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM ONE OR MORE OF THE FUNCTIONS OF, OR TO CARRY OUT ONE OR MORE OF THE PURPOSES OF, SUPPORTED ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) AND 509(A)(1) OR (2) OF THE CODE THAT CONDUCT ACTIVITIES IN ARTS AND CULTURE, EDUCATION, OR MEDICAL RESEARCH AND HEALTHCARE, WITH EMPHASIS ON ENCOURAGING THE HIGHEST STANDARDS OF NON-PROFIT MANAGEMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $135,549,741 | ExpenseAmt |
| Grant | $134,308,518 | GrantAmt |
| Desc | GRANT MAKING TO SUPPORT ARTS AND CULTURE, EDUCATION, MEDICAL RESEARCH AND HEALTHCARE, WITH EMPHASIS ON ENCOURAGING THE HIGHEST STANDARDS OF NON-PROFIT MANAGEMENT. | Desc |
| Total Program Service Expenses | $135,549,741 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DANIEL M ARDITO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6036814291 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11 KEEWAYDIN DRIVE SUITE 100 | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03079 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ELIZABETH B JOHNSON | |||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD C JOHNSON IV | |||||||
| DIRECTOR & CHAIRMAN | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| THOMAS R POWERS | |||||||
| DIRECTOR & VICE PRES | 5.00 | Yes (X) | $9,000 | $0 | $0 | Yes (X) | |
| ROBERT A RADLOFF | |||||||
| DIRECTOR & VICE PRES | 5.00 | Yes (X) | $10,000 | $0 | $0 | Yes (X) | |
| SUSAN HOCKFIELD | |||||||
| DIRECTOR | 5.00 | Yes (X) | $10,000 | $725,363 | $0 | Yes (X) | |
| MAURA MARX | |||||||
| PRESIDENT | 22.00 | $276,957 | $0 | $47,090 | Yes (X) | ||
| DANIEL M ARDITO | |||||||
| TREASURER | 18.00 | $168,836 | $0 | $50,310 | Yes (X) | ||
| CHRISTOPHER J MCKOWN | |||||||
| SECRETARY | 5.00 | $0 | $0 | $0 | Yes (X) | ||
| MELANIE S SOMMER | |||||||
| ASST. SECRETARY/LEGAL COUN | 5.00 | $0 | $0 | $0 | Yes (X) | ||
| LYDIA BERGEN | |||||||
| VP OPERATIONS | 16.00 | $108,511 | $0 | $13,951 | Yes (X) | ||
| CAROLINE NOLAN | |||||||
| PROGRAM OFFICER | 28.00 | $134,327 | $0 | $27,358 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $717,631 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $725,363 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $138,709 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SULLIVAN & WORCESTER | |||||
| ONE POST OFFICE SQUARE | BOSTON | MA | 02109 | LEGAL | $171,223 |
| KOYA LEADERSHIP | |||||
| 575 BOYLSTON ST | BOSTON | MA | 02116 | EXECUTIVE SEARCH, STRATEGIC ADVICE | $124,917 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $13,789,807 | AllOtherContributionsAmt |
| Total Contributions | $13,789,807 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $162,566,655 | TotalRevenueColumnAmt |
| Exclusion | $162,566,655 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $416,770,982 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $212,422,868 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $204,348,114 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $204,348,114 | TotalRevenueColumnAmt |
| Exclusion | $204,348,114 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| INCOME FROM PASSIVE FOREIGN INVES | 900099 | $2,845,006 | $2,845,006 |
| SECURITIES LITIGATION PROCEEDS | 900099 | $42,352 | $42,352 |
| CLASS ACTION PROCEEDS | 900099 | $228 | $228 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,887,586 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $383,592,162 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $369,802,355 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $134,308,518 | TotalAmt |
| Program Services | $134,308,518 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $474,793 | TotalAmt |
| Program Services | $474,793 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $565,499 | TotalAmt |
| Program Services | $565,499 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $124,035 | TotalAmt |
| Program Services | $124,035 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,289 | TotalAmt |
| Program Services | $73,289 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $201,031 | TotalAmt |
| Management And General | $201,031 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,330 | TotalAmt |
| Management And General | $57,330 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,607 | TotalAmt |
| Program Services | $3,607 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| CONSULTANTS | $326,599 | $326,599 |
| SOFTWARE LICENSE & MAIN | $37,757 | $37,757 |
| INSURANCE | $19,835 | $19,835 |
| DUES AND SUBSCRIPTIONS | $6,250 | $6,250 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,979 | TotalAmt |
| Management And General | $7,979 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $136,206,522 | TotalAmt |
| Program Services | $135,549,741 | ProgramServicesAmt |
| Management And General | $656,781 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $254,082,240 | BOYAmt |
| EOY | $130,310,369 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $334,000 | BOYAmt |
| EOY | $185,441 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,413,435,895 | BOYAmt |
| EOY | $1,754,731,568 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,598,761 | BOYAmt |
| EOY | $135,913,535 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,674,450,896 | BOYAmt |
| EOY | $2,021,140,913 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,674,450,896 | BOYAmt |
| EOY | $2,021,140,913 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,674,450,896 | BOYAmt |
| EOY | $2,021,140,913 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,674,450,896 | BOYAmt |
| EOY | $2,021,140,913 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $247,385,640 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $99,304,377 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 3 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (3 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| MIT | ||||
| 042103594 | 2 | Yes (1) | $0 | $0 |
| BAYLOR COLLEGE OF MEDICINE | ||||
| 741613878 | 2 | Yes (1) | $3,000,000 | $0 |
| MUSEUM OF FINE ARTS | ||||
| 042103607 | 7 | Yes (1) | $5,000,000 | $100,485,818 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 3 | SupportedOrganizationsTotalCnt |
| Support Sum | $8,000,000 | SupportSumAmt |
| Other Support Sum | $100,485,818 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | 0 | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | Yes (1) | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (1) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | 0 | OperateBenefitNonSuprtOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE A PART IV SECTION A LINE 1 | THE SUPPORTED ORGANIZATIONS ARE DESIGNATED BY PURPOSE OR CLASS IN THE ORGANIZATION'S ARTICLES. THE MEMBERS WHICH ELECT A MAJORITY OF THE ORGANIZATION'S DIRECTORS AND CONTROL THE ORGANIZATION ARE ALL PUBLICLY SUPPORTED ORGANIZATIONS WHICH ARE LISTED BY NAME IN THE ORGANIZATION'S GOVERNING DOCUMENTS AND WHICH FALL WITHIN THE CLASS OF SUPPORTED ORGANIZATIONS THAT THEY REPRESENT. |
| SCHEDULE A PART IV SECTION A LINE 9C | DISQUALIFIED PERSONS WITH RESPECT TO THE ORGANIZATION ARE ACTIVE INVESTORS IN THE PUBLIC SECURITIES MARKETS AND THERE MAY BE NUMEROUS INSTANCES WHERE THERE IS OVERLAP BETWEEN THE HOLDINGS IN THE STOCK PORTFOLIOS OF DISQUALIFIED PERSONS AND THE STOCK PORTFOLIO OF THE ORGANIZATION. NEVERTHELESS, THE ORGANIZATION IS CONFIDENT THAT ANY OVERLAP IS COINCIDENTAL AND NO DISQUALIFIED PERSON DERIVED ANY BENEFIT FROM THE ORGANIZATION'S INVESTMENT. THE ORGANIZATION ALSO OWNS APPROXIMATELY 4.5% OF THE STOCK OF FIL LTD. A NON-PUBLICLY TRADED ENTITY IN WHICH A DISQUALIFIED PERSON INDIRECTLY HOLDS A NON-CONTROLLING INTEREST. NO DISQUALIFIED PERSON DERIVES ANY BENEFIT AS A RESULT OF THE ORGANIZATION'S INVESTMENTS. UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, ANY INVESTMENT DECISION OF THE FOUNDATION TO MAKE AN INVESTMENT IN A SECURITY IN WHICH A DISQUALIFIED PERSON MAY HOLD AN INTEREST (OTHER THAN NON-MATERIAL HOLDINGS OF PUBLICLY AVAILABLE SECURITIES OR MUTUAL FUNDS) WOULD BE MADE EXCLUSIVELY BY THE INDEPENDENT TRUSTEES WHO REPRESENT THE CONTROLLING SUPPORTED ORGANIZATIONS. |
| SCHEDULE A PART IV SECTION B LINE 2 | THE ORGANIZATION MADE GRANTS AMONG ITS SUPPORTED ORGANIZATIONS DESIGNATED BY CLASS. SEE DESCRIPTION FOR SECTION A, ITEM 1 |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FIL EQUITY | $2,752,100 | C |
| ERS | $133,161,435 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $135,913,535 | TotalBookValueSecuritiesAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $435,720,000 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$41,355,000 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $96,328,251 | OtherRevenueAmt |
| Revenue Not Reported | $54,973,251 | RevenueNotReportedAmt |
| Revenue Subtotal | $380,746,749 | RevenueSubtotalAmt |
| Other Revenues Not Included | $2,845,413 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,845,413 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $383,592,162 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $133,331,000 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $324,477 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $324,477 | ExpensesNotReportedAmt |
| Expenses Subtotal | $133,006,523 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $3,199,999 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $3,199,999 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $136,206,522 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE FOUNDATION HAD NO LIABILITY FOR UNCERTAIN TAX POSITIONS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | GAINS AND LOSSES REPORTED AT BOOK VALUE DIVIDENDS ACCRUED ON FINANCIALS NOT RECEIVED IN TAX REPORTING YEAR |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | INCOME FROM PASSIVE FOREIGN INVESTMENT COMPANY OTHER INCOME |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | PROFESSIONAL SERVICES COMPENSATION INSURANCE |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | GRANTS CONSULTANTS OTHER EXPENSE |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (13 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc |
|---|---|---|---|---|---|---|---|---|---|---|
| ALZHEIMER'S DRUG DISCOVERY FOUNDATION | ||||||||||
| 57 WEST 57TH STREET | NEW YORK | NY | 10019 | 201082179 | 501C(3) | $5,000,000 | MEDICAL RESEARCH | |||
| BAYLOR COLLEGE OF MEDICINE | ||||||||||
| ONE BAYLOR PLAZA | HOUSTON | TX | 77030 | 741613878 | 501C(3) | $3,000,000 | MEDICAL RESEARCH | |||
| BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY | ||||||||||
| 41 BERKELEY STREET | BOSTON | MA | 02116 | 231370501 | 501C(3) | $275,000 | EQUIPMENT | |||
| CATHOLIC SCHOOLS FOUNDATION INC | ||||||||||
| 67 BATTERYMARCH STREET | BOSTON | MA | 02110 | 222485502 | 501C(3) | $5,000,000 | ENDOWMENT | |||
| DUET INC | ||||||||||
| 50 MILK STREET | BOSTON | MA | 02109 | 320568985 | 501C(3) | $1,000,000 | STRATEGIC PLAN | |||
| MASSACHUSETTS GENERAL HOSPITAL | ||||||||||
| 55 FRUIT STREET | BOSTON | MA | 02144 | 041564655 | 501C(3) | $5,000,000 | MEDICAL RESEARCH | |||
| MUSEUM OF FINE ARTS | ||||||||||
| 465 HUNTINGTON AVENUE | BOSTON | MA | 021155523 | 042103607 | 501C(3) | $5,000,000 | CONSTRUCTION, ORGANIZATION SUPPORT | $100,485,818 | NET ASSET VALUE AS DETERMINED UNDER THE GOVERNING INSTRUMENT OF FIL LTD | SHARES OF FIL LTD |
| NATIONAL MENTORING PARTNERSHIP INC | ||||||||||
| 201 SOUTH STREET | BOSTON | MA | 02111 | 521674088 | 501C(3) | $200,000 | TECHNOLOGY INFRASTRUCTURE SUPPORT | |||
| TRUSTEES OF RESERVATIONS | ||||||||||
| 200 HIGH STREET | BOSTON | MA | 02110 | 042105780 | 501C(3) | $3,200,000 | PUBLIC SPACES AND ART | |||
| TRUSTEES OF TUFTS COLLEGE | ||||||||||
| 62R TALBOT AVE | MEDFORD | MA | 02155 | 042103634 | 501C(3) | $2,300,000 | PROGRAM SUPPORT | |||
| UASPRIRE INC | ||||||||||
| 31 MILK STREET | BOSTON | MA | 02109 | 461314848 | 501C(3) | $850,000 | TECHNOLOGY INFRASTRUCTURE SUPPORT | |||
| WORLD MONUMENTS FUND INC | ||||||||||
| 350 FIFTH AVENUE SUITE 2412 | NEW YORK | NY | 10118 | 132571900 | 501C(3) | $297,700 | STRATEGIC PLAN | |||
| YEAR UP INC | ||||||||||
| 45 MILK STREET | BOSTON | MA | 02109 | 043534407 | 501C(3) | $2,700,000 | EDUCATION | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 13 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION MONITORS ITS GRANTS TO ENSURE THAT THEY ARE USED FOR THE INTENDED CHARITABLE PURPOSES AND ARE NOT OTHERWISE DIVERTED FROM THE INTENDED USE. GRANT RECIPIENTS ARE CHOSEN ON THE BASIS OF DETAILED WRITTEN DESCRIPTIONS OF THE INTENDED CHARITABLE USE OF FUNDS; PUBLIC CHARITY DETERMINATIONS; AND OCCASIONAL FIELD INVESTIGATIONS CONDUCTED BY THE ORGANIZATION'S STAFF. EACH GRANTEE PROVIDES DETAILED WRITTEN REPORTS OF THE EXPENDITURE OF GRANT FUNDS TO THE ORGANIZATION. GRANTS ARE ACCOUNTED FOR ON A CASH BASIS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUSAN HOCKFIELD | ||||||||||||||
| DIRECTOR | $10,000 | $725,363 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10,000 | $725,363 | $0 | $0 |
| MAURA MARX | ||||||||||||||
| PRESIDENT | $276,957 | $0 | $0 | $0 | $0 | $0 | $39,011 | $0 | $8,079 | $0 | $324,047 | $0 | $0 | $0 |
| DANIEL M ARDITO | ||||||||||||||
| TREASURER | $168,836 | $0 | $0 | $0 | $0 | $0 | $37,658 | $0 | $12,652 | $0 | $219,146 | $0 | $0 | $0 |
| CAROLINE NOLAN | ||||||||||||||
| PROGRAM OFFICER | $134,327 | $0 | $0 | $0 | $0 | $0 | $8,710 | $0 | $18,648 | $0 | $161,685 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 3 | THE FOUNDATION ENGAGES FFSP LLC IN A COST SHARING ARRANGEMENT TO PROVIDE STAFF, ADMINISTRATIVE AND PROGRAM MANAGEMENT SUPPORT. FFSP ENTERED INTO WRITTEN COMPENSATION AGREEMENTS WITH ALL OF ITS EMPLOYEES ON THE DATE OF HIRE. THE COMPENSATION IN THE AGREEMENTS WERE ALL BASED ON THIRD-PARTY COMPARABILITY DATA COMPILED AND UPDATED IN 2019. IN 2019, THE FFSP COMPENSATION COMMITTEE RELIED ON THE SAME COMPARABILITY DATA WHEN MAKING YEAR END SALARY ADJUSTMENTS, DETERMINING YEAR-END BONUSES, AND AWARDING LONG-TERM COMPENSATION FOR 2020. AS A RESULT, THE PROCESS FOR DETERMINING THE COMPENSATION OF THE PRESIDENT AND THE TREASURER INCLUDED THE FOLLOWING: (1) PRIOR TO ENTERING INTO SUCH ARRANGEMENTS, APPROPRIATE COMPARABILITY DATA WAS OBTAINED AND USED, AND SUCH ARRANGEMENT WAS THEN REVIEWED AND APPROVED BY THE APPROPRIATE COMPENSATION COMMITTEE, OF WHICH ONLY INDEPENDENT PERSONS VOTED; AND (2) MINUTES FOR COMPENSATION COMMITTEE MEETINGS WERE PREPARED, PROVIDING CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION BY NOTING THE TERMS OF THE ARRANGEMENT AND DATE IT WAS APPROVED, THE COMMITTEE MEMBERS WHO WERE PRESENT AND THOSE WHO VOTED ON IT, AND THE COMPARABILITY DATA OBTAINED AND RELIED UPON BY THE COMMITTEE. |
| PART I, LINE 7 | THE ORGANIZATION PROVIDED A NON-FIXED PAYMENT FOR THE PRESIDENT AND TREASURER IN THE FORM OF A BONUS WHICH REFLECTED REASONABLE COMPENSATION. THE BONUS WAS NOT TIED TO THE NET REVENUES OF THE ORGANIZATION NOR WAS A JOINT VENTURE PRESENT. THE COMPENSATION COMMITTEE APPROVED AN EMPLOYMENT CONTRACT WITH THE EXECUTIVES THAT INCLUDED A YEAR END BONUS WITH A SPECIFIED CAP ON THE AMOUNT, THE COMPENSATION COMMITTEE HAS ESTABLISHED A REBUTTABLE PRESUMPTION AS TO THE NONFIXED PAYMENT WHEN THE EMPLOYMENT CONTRACT WAS ENTERED INTO BY, IN EFFECT, ASSUMING THAT THE MAXIMUM AMOUNT PAYABLE UNDER THE CONTRACT WOULD BE PAID, AND SATISFYING THE REQUIREMENTS GIVING RISE TO THE REBUTTABLE PRESUMPTION FOR THAT MAXIMUM AMOUNT. 26 C.F.R. 53.4958-6(D)(2) |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIL LTD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | INDIRECT BUSINESS RELATIONSHIP THROUGH TRUSTEES' OWNERSHIP | RelationshipDescriptionTxt |
| Transaction | $24,584,820 | TransactionAmt |
| Transaction | THE FOUNDATION SOLD SHARES OF FIL LTD IN A REDEMPTION TRANSACTION TO THE COMPANY. THE SALES PRICE $24,584,820.00 WAS THE NET ASSET VALUE OF THE SHARES AS DETERMINED UNDER THE GOVERNING INSTRUMENT OF FIL LTD, WHICH IS THE PRICE UNIFORMLY APPLICABLE TO ALL TRANSACTIONS IN THE CORPORATION'S STOCK. PURSUANT TO THE FOUNDATION'S CONFLICT OF INTEREST POLICY, ONLY MEMBERS OF THE FOUNDATION'S BOARD OF TRUSTEES WHO HAD NO FINANCIAL OR OTHER INTEREST IN THE TRANSACTION PARTICIPATED IN THE DELIBERATIONS OR DECISION TO SELL THE SHARES. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | ELIZABETH B JOHNSON EDWARD C JOHNSON IV CHRISTOPHER J MCKOWN FAMILY RELATIONSHIP |
| FORM 990, PART VI, SECTION A, LINE 3 | THE FOUNDATION ENGAGES FFSP LLC IN A COST SHARING ARRANGEMENT TO PROVIDE STAFF, ADMINISTRATIVE AND PROGRAM MANAGEMENT SUPPORT. IN ADDITION, PROGRAM MANAGEMENT AND GRANTS ADMINISTRATION SERVICES WERE PROVIDED TO THE FOUNDATION UNDER AN ADMINISTRATIVE SERVICES CONTRACT BY FMR LLC, WHICH IS A SUBSTANTIAL CONTRIBUTOR TO THE FOUNDATION. FMR LLC PROVIDED THESE SERVICES TO THE FOUNDATION AT NO CHARGE. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE MEMBERS OF THE ORGANIZATION ELECT MEMBERS OF THE BOARD OF TRUSTEES PERIODICALLY AND/OR WHEN VACANCIES ARISE. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE TRUSTEES ARE ELECTED BY VOTE PERIODICALLY AND/OR WHEN VACANCIES ARISE, BY THE MEMBERS OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 IS PROVIDED TO EACH OF THE MEMBERS OF THE GOVERNING BODY. THE ENTIRE FORM 990 IS REVIEWED BY THE MEMBERS OF THE AUDIT COMMITTEE. OFFICERS OF THE ORGANIZATION AS WELL AS THE PAID PREPARER REVIEW THE FORM 990 WITH THE MEMBERS OF THE AUDIT COMMITTEE BEFORE THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | OFFICERS, DIRECTORS AND TRUSTEES SIGN AN ANNUAL STATEMENT ATTESTING THAT THEY ARE IN COMPLIANCE WITH THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY AND DISCLOSE RELEVANT FINANCIAL INTERESTS AND AFFILIATIONS WITH POTENTIAL GRANTEES. IN INSTANCES WHERE THE BOARD DETERMINES THE EXISTENCE OF A CONFLICT, PARTICIPATION IN THE BOARD'S DELIBERATIONS AND DECISIONS IS LIMITED TO DISINTERESTED TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE FOUNDATION ENGAGES FFSP LLC IN A COST SHARING ARRANGEMENT TO PROVIDE STAFF, ADMINISTRATIVE AND PROGRAM MANAGEMENT SUPPORT. FFSP ENTERED INTO WRITTEN COMPENSATION AGREEMENTS WITH ALL OF ITS EMPLOYEES ON THE DATE OF HIRE. THE COMPENSATION IN THE AGREEMENTS WERE ALL BASED ON THIRD-PARTY COMPARABILITY DATA COMPILED AND UPDATED IN 2019. IN 2019, THE FFSP COMPENSATION COMMITTEE RELIED ON THE SAME COMPARABILITY DATA WHEN MAKING YEAR END SALARY ADJUSTMENTS, DETERMINING YEAR-END BONUSES, AND AWARDING LONG-TERM COMPENSATION FOR 2020. AS A RESULT, THE PROCESS FOR DETERMINING THE COMPENSATION OF THE PRESIDENT AND THE TREASURER INCLUDED THE FOLLOWING: (1) PRIOR TO ENTERING INTO SUCH ARRANGEMENTS, APPROPRIATE COMPARABILITY DATA WAS OBTAINED AND USED, AND SUCH ARRANGEMENT WAS THEN REVIEWED AND APPROVED BY THE APPROPRIATE COMPENSATION COMMITTEE, OF WHICH ONLY INDEPENDENT PERSONS VOTED; AND (2) MINUTES FOR COMPENSATION COMMITTEE MEETINGS WERE PREPARED, PROVIDING CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION BY NOTING THE TERMS OF THE ARRANGEMENT AND DATE IT WAS APPROVED, THE COMMITTEE MEMBERS WHO WERE PRESENT AND THOSE WHO VOTED ON IT, AND THE COMPARABILITY DATA OBTAINED AND RELIED UPON BY THE COMMITTEE. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC ON FILE WITH THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL. |
| FORM 990, PART XI, LINE 9: | DIFFERENCE BETWEEN TAX COST AND NET ASSET VALUE OF NONCASH GRANTS 99,304,377. |
| FORM 990, PART VI, SECTION A, LINE 8A: | THE ORGANIZATION CONTEMPORANEOUSLY DOCUMENTED EVERY MEETING HELD AND WRITTEN ACTION TAKEN BY THE MEMBERS OF ITS GOVERNING BODY BY COMPLETING WRITTEN BOARD MINUTES PRIOR TO THE NEXT SCHEDULED MEETING OF THE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION CONTEMPORANEOUSLY DOCUMENTED EVERY MEETING HELD AND WRITTEN ACTION TAKEN BY EACH COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY BY COMPLETING WRITTEN BOARD MINUTES PRIOR TO THE NEXT SCHEDULED MEETING OF THE MEMBERS OF THE GOVERNING BODY. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY | ||||||||||
| 292 MAIN STREET | CAMBRIDGE | MA | 02139 | 042103594 | EDUCATION | MA | 501 C 3 | 2 | NOT APPLICABLE | 0 |
| MUSEUM OF FINE ARTS | ||||||||||
| 465 HUNTINGTON AV | BOSTON | MA | 02115 | 042103607 | CULTURE | MA | 501 C 3 | 7 | NOT APPLICABLE | 0 |
| BAYLOR COLLEGE OF MEDICINE | ||||||||||
| ONE BAYLOR PLAZA | HOUSTON | TX | 77030 | 741613878 | MEDICAL | TX | 501 C 3 | 2 | NOT APPLICABLE | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (3 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY | ||
| B | $0 | CASH |
| MUSEUM OF FINE ARTS | ||
| B | $105,485,818 | CASH AND NET ASSET VALUE |
| BAYLOR COLLEGE OF MEDICINE | ||
| B | $3,000,000 | CASH |
Comments