Fidelity Non-profit Management Foundation

Overview

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) (continued on schedule o)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.

What it reported doing in 2024

Grant making to support arts and culture, education, medical research and healthcare, with emphasis on encouraging the highest standards of non-profit management.

Operating model

Revenue model
Investment-supported. 74% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

Nonprofit profile at a glance

EIN
223195349
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Headquarters
Boston, MA, USA
Phone
6176467418
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Nonprofit Management

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 87
  • Accountability: 77
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 16th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.2%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 18.11; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: -2.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
  • Governance: 3 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $141.2M in reported program spending
  • Leadership: top reported pay $591K · 15 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 annual filings from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 120 filed money-flow records
  • Related organizations: 111 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

15 people listed

Highest reported compensation

  • MAURA MARX (PRESIDENT): $590,747 total reported compensation
  • SUSAN HOCKFIELD (DIRECTOR): $490,373 total reported compensation
  • LARA BETHKE (PROGRAM DIRECTOR, MEDICAL SCIENCE): $372,965 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.