Overview
What is Friends Fiduciary Corporation?
Friends Fiduciary Corporation is a nonprofit organization situated in Philadelphia, Pennsylvania, dedicated to providing financially sound and socially responsible investment services to over 450 Quaker meetings, churches, schools, and organizations. Their mission is to support various Quaker organizations by managing their investments according to their socially responsible investment criteria, guided by Quaker testimonies and values. The corporation aims to cover its own expenses while incorporating economies of scale and sound business principles into its operations. Their services include socially responsible investment management, fiduciary, and charitable giving services for tax-exempt Quaker organizations.
Official website here: www.friendsfiduciary.org
Is Friends Fiduciary Corporation legitimate?
Friends Fiduciary Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Fiduciary Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $478,035
Professional Fundraising Fees: $0
Other Salaries and Wages: $756,141
For more financial information, click here
Official website here: www.friendsfiduciary.org
What is the mission statement of Friends Fiduciary Corporation?
Friends Fiduciary Corporation, established within the Religious Society of Friends, provides financial services to support various organizations aligned with this faith. These organizations include Friends meetings, churches, schools, retirement communities, and other non-profit Friends groups, all working to advance aspects of the Religious Society of Friends' work and faith. The corporation's primary purpose is to offer socially responsible investment management and fiduciary services for tax-exempt Quaker organizations. Their investments adhere to socially responsible investment criteria, guided by Friends testimonies and values. As a non-profit entity, Friends Fiduciary Corporation aims to cover its own expenses while incorporating economies of scale and sound business principles in its operations.
Official website here: www.friendsfiduciary.org
Who is the CEO of Friends Fiduciary Corporation?
Jeffery W Perkins is the Chairperson of Friends Fiduciary Corporation.
Official website here: www.friendsfiduciary.org
What is the revenue of Friends Fiduciary Corporation?
Friends Fiduciary Corporation's revenue in 2022 was $5,423,969.
Official website here: www.friendsfiduciary.org
Who are the executives of Friends Fiduciary Corporation and what are their salaries?
The average compensation at Friends Fiduciary Corporation during 2022 was $123,418. There are 10 employees and 19 volunteers at Friends Fiduciary Corporation.
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Official website here: www.friendsfiduciary.org
Where can I find the form 990 for Friends Fiduciary Corporation?
Friends Fiduciary Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.friendsfiduciary.org
Learn more at the official website: www.friendsfiduciary.org
Mission Statement of Friends Fiduciary Corporation
Friends Fiduciary Corporation, established within the Religious Society of Friends, serves a crucial role in providing financial services to various Quaker organizations. These organizations include Friends meetings, churches, schools, retirement communities, and other non-profit Friends groups, all working towards advancing aspects of the Religious Society of Friends' work and faith. The primary purpose of Friends Fiduciary Corporation is to offer socially responsible investment management, fiduciary, and charitable giving services.
Their socially responsible investment strategy is guided by Friends testimonies and values. This means they make investments mindfully, considering their potential social impact. As a non-profit entity, Friends Fiduciary Corporation aims to cover only its operational costs, demonstrating a commitment to efficiency and sound business principles. By incorporating economies of scale into its operations, the corporation aims to provide high-quality services without incurring unnecessary expenses.
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Impact
October, 2024
Friends Fiduciary Corporation has a significant impact by providing prudent and cost-effective investment management services tailored specifically for over 450 Friends meetings, churches, schools, and organizations. Their commitment to socially responsible investing is reflected in their thorough screening of companies, proactive proxy voting, and active shareholder advocacy, including resolutions and dialogues with companies. These efforts are deeply aligned with Quaker testimonies and values, ensuring that the investments not only yield financial returns but also uphold ethical standards.
By addressing the financial needs of various Quaker organizations—including meetings, churches, schools, and retirement communities—Friends Fiduciary Corporation supports the advancement of the work and faith of the Religious Society of Friends. Their model of socially responsible investment management enables these organizations to focus on their missions while ensuring that their financial activities align with their core beliefs.
Moreover, by operating with the aim of covering only costs and leveraging economies of scale, Friends Fiduciary Corporation exemplifies sound business principles and enhances the financial sustainability of its clients. Their dedicated approach fosters a culture of responsibility and advocacy within the broader community, demonstrating how financial services can contribute positively to societal values and ethical considerations.
This information is meant to be a general summary of Friends Fiduciary Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $698,765
- Program Service Revenue: $4,515,480
- Gross Receipts: $5,859,636
Assets and Liabilities:
- Total Assets: $617,125,539
- Total Liabilities: $600,251,801
- Net Assets: $16,873,738
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES FOR MANAGED FUNDS
Revenue
$4,515,480
Organization Details
Founding Year
1975
Phone
(215) 241-7272Principal Officer
Jeffery W Perkins
Main Address
1700 MARKET STREET 1535, PHILADELPHIA, PA, 19103
Website
www.friendsfiduciary.orgNTEE Category
Code: W60Z - Public benefit
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