2018-07-16T09:16:20-05:00 2017-12-31 232896692 BBD LLP 1835 MARKET STREET 3RD FLOOR PHILADELPHIA PA 19103 990 2017-01-01 231968136 FRIENDS FIDUCIARY CORPORATION FRIE 2152417272 1650 ARCH STREET NO 1904 PHILADELPHIA PA 19103 JEFFERY W PERKINS EXECUTIVE DIRECTOR 2152417272 2018-07-16 1 JENNIFER SOLOT P00749373 2155677770 2017 2022-09-23 18:48:47Z JEFFERY W PERKINS 1650 ARCH STREET NO 1904 PHILADELPHIA PA 19103 3999958 0 X WWW.FRIENDSFIDUCIARY.ORG X 1975 PA SEE PAGE 2, PART III, LINE 1 FOR THE ORGANIZATION'S MISSION. 22 22 8 25 0 0 75255 221358 2905837 3042949 548607 540548 0 0 3529699 3804855 553742 476993 0 0 867592 872276 0 0 0 2080697 2191928 3502031 3541197 27668 263658 380856521 469266210 367734692 454186909 13121829 15079301 X WITHIN THE RELIGIOUS SOCIETY OF FRIENDS ARE MANY ORGANIZATIONS REQUIRING FINANCIAL SERVICES TO SUPPORT THEIR WORK. AMONG THESE ORGANIZATIONS ARE FRIENDS MEETINGS, CHURCHES, SCHOOLS, RETIREMENT COMMUNITIES AND OTHER NON-PROFIT FRIENDS (CONTINUED ON SCHEDULE O) GROUPS WHOSE PURPOSE IS TO ADVANCE SOME ASPECT OF THE WORK AND FAITH OF THE RELIGIOUS SOCIETY OF FRIENDS. FRIENDS FIDUCIARY CORPORATION WAS CREATED TO MEET THIS NEED. MORE SPECIFICALLY, THE PURPOSES OF FRIENDS FIDUCIARY CORPORATION ARE TO PROVIDE SOCIALLY RESPONSIBLE INVESTMENT MANAGEMENT, FIDUCIARY AND CHARITABLE GIVING SERVICES FOR TAX-EXEMPT QUAKER ORGANIZATIONS. INVESTMENTS ARE MADE ACCORDING TO OUR SOCIALLY RESPONSIBLE INVESTMENT CRITERIA, GUIDED BY FRIENDS TESTIMONIES AND VALUES. AS A NON-PROFIT, WE SEEK SIMPLY TO COVER OUR OWN COSTS AND WORK TO INCORPORATE ECONOMIES OF SCALE AND SOUND BUSINESS PRINCIPLES IN ALL OUR OPERATIONS. 0 0 2549979 2655482 INVESTMENT MANAGEMENT SERVICES:FRIENDS FIDUCIARY CORPORATION PROVIDES PRUDENT, COST EFFECTIVE, INSTITUTIONAL INVESTMENT SERVICES FOR OVER 380 FRIENDS MEETINGS, CHURCHES, SCHOOLS AND ORGANIZATIONS. OUR SOCIALLY RESPONSIBLE INVESTMENT ACTIVITIES INCLUDE SCREENING COMPANIES, ACTIVE VOTING OF PROXIES AND SHAREHOLDER ADVOCACY, SUCH AS SHAREHOLDER RESOLUTIONS AND COMPANY DIALOGUES - ALL GUIDED BY OUR QUAKER TESTIMONIES, VALUES AND CONCERNS. 624677 476993 169282 GRANTMAKING:FRIENDS FIDUCIARY CORPORATION SERVES AS FIDUCIARY/TRUSTEE FOR OVER 70 FUNDS RECEIVED UNDER WILL OR GIFT AGREEMENT. THESE FUNDS MAY BENEFIT SPECIFIC FRIENDS ORGANIZATIONS OR BE AVAILABLE FOR GRANTS TO FURTHER THE WORK OF FRIENDS. IN 2017, OVER 90 GRANTS WERE MADE TO ORGANIZATIONS. THESE GRANTS SUPPORTED THE WORK OF FRIENDS SCHOOLS, RETIREMENT COMMUNITIES, MEETINGS, AND OTHER CHARITABLE PURPOSES OF CONCERN TO THE RELIGIOUS SOCIETY OF FRIENDS. 189153 218185 PLANNED GIVING:FRIENDS FIDUCIARY CORPORATION PROVIDES PLANNED GIVING ADMINISTRATIVE SERVICES. FRIENDS FIDUCIARY CORPORATION HAS ISSUED 500 CHARITABLE GIFT ANNUITIES TO BENEFIT THE WORK OF QUAKER ORGANIZATIONS WITHIN THE RELIGIOUS SOCIETY OF FRIENDS AND THE CONCERNS OF ITS MEMBERS. 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TRENTON MONTHLY MEETING 210694745 1 1 0 0 UNITY MONTHLY MEETING 731646786 1 1 0 0 UPPER DUBLIN GRAVEYARD 231339676 1 1 0 0 UPPER DUBLIN MONTHLY MEETING 231339676 1 1 0 0 UWCHLAN MONTHLY MEETING 731646786 1 1 0 0 VALLEY MONTHLY MEETING 232611175 1 1 0 0 VIRGINIA BEACH FRIENDS MEETING 541109740 1 0 0 0 WELLESLEY MONTHLY MEETING 222483625 1 0 0 0 WEST CHESTER MONTHLY MEETING 731646786 1 1 0 0 WEST GROVE AREA DAYCARE CENTER 232103745 2 0 0 0 WEST GROVE MONTHLY MEETING 731646786 1 1 0 0 WEST RICHMOND FRIENDS MEETING 351057227 1 0 0 0 WESTBURY MONTHLY MEETING 111745999 1 0 0 0 WESTERN QUARTERLY MEETING 231942626 1 0 0 0 WESTFIELD FRIENDS SCHOOL 200994702 2 0 0 0 WESTFIELD MONTHLY MEETING 210638162 1 1 0 0 WESTTOWN MONTHLY MEETING 731646786 1 1 0 0 WESTTOWN SCHOOL 231352690 2 0 0 0 WHITTIER MONTHLY MEETING 251559990 1 0 0 0 WICOMICO RIVER FRIENDS MEETING 203340744 1 1 0 0 WILLISTOWN MONTHLY MEETING TRUSTEES 232623853 1 1 0 0 WILMINGTON MONTHLY MEETING TRUSTEES 510080062 1 1 0 0 WOODBURY MONTHLY MEETING 731646786 1 1 0 0 WOODSTOWN MONTHLY MEETING 731646786 1 1 0 0 WOOSTER MONTHLY MEETING 341567495 1 0 0 0 WRIGHTSTOWN MONTHLY MEETING 231370435 1 1 0 0 YARDLEY MONTHLY MEETING 731646786 1 1 0 0 YOUNG FRIENDS AID ASSOCIATION 136017755 1 0 0 0 309 217338 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 PART IV, SECTION A, QUESTION 1 THE SUPPORTED ORGANIZATIONS ARE DESIGNATED BY CLASS AND PURPOSE IN THE GOVERNING DOCUMENTS. FRIENDS FIDUCIARY CORPORATION IS ORGANIZED EXCLUSIVELY FOR RELIGIOUS AND CHARITABLE PURPOSES, "TO RECEIVE, HOLD, MANAGE AND INVEST PROPERTY, AS TRUSTEE, CUSTODIAN OR AGENT, ON BEHALF OF PHILADELPHIA YEARLY MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS, ANY OF ITS CONSTITUENT MONTHLY, QUARTERLY, HALF-YEARLY OR PREPARATIVE MEETINGS, INCLUDING COMMITTEES THEREOF AND "ON BEHALF OF OTHER ORGANIZATIONS WHICH QUALIFY AS ORGANIZATIONS OF THE TYPE DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954, OR IN THE CORRESPONDING PROVISION OF ANY SUBSEQUENT" EXCEPT THAT ALL SUCH ORGANIZATIONS ARE QUAKER OR QUAKER AFFILIATED CHARITABLE ORGANIZATIONS. PART IV, SECTION D, QUESTION 3 ALL MEMBERS OF FRIENDS FIDUCIARY CORPORATION'S BOARD OF DIRECTORS ARE MEMBERS OF FRIENDS FIDUCIARY CORPORATION'S SUPPORTED CONSTITUENT ORGANIZATIONS OR OFFICERS, DIRECTORS OR TRUSTEES OF ONE OR MORE OF FRIENDS FIDUCIARY CORPORATION'S SUPPORTED CONSTITUENT ORGANIZATIONS. THE INVESTMENT POLICY OF FRIENDS FIDUCIARY CORPORATION IS APPROVED BY THE FRIENDS FIDUCIARY CORPORATION BOARD OF DIRECTORS. THE ANNUAL BUDGET WHICH REFLECTS THE PRIORITIES OF THE USE OF THE INCOME AND ASSETS OF FRIENDS FIDUCIARY CORPORATION IS APPROVED BY FRIENDS FIDUCIARY CORPORATION'S BOARD OF DIRECTORS. PART IV, SECTION E, QUESTION 2A FRIENDS FIDUCIARY CORPORATION, THE SUPPORTING ORGANIZATION, PROVIDES SOCIALLY RESPONSIBLE INVESTMENT SERVICES, WHICH SPECIFICALLY INCORPORATE QUAKER RELIGIOUS VALUES IN THE INVESTMENT PROCESS, EXCLUSIVELY TO THE SUPPORTED QUAKER ORGANIZATIONS. THESE SERVICES ARE PROVIDED AT COST TO THE SUPPORTED ORGANIZATIONS. EACH SUPPORTED ORGANIZATION BENEFITS FROM THE ECONOMIES OF SCALE, THE PROFESSIONAL OPERATIONS AND OVERSIGHT AND THE EXPERT IMPLEMENTATION OF QUAKER VALUES IN THE INVESTMENT PROCESS BY THE SUPPORTING ORGANIZATION. MANY OF THE SUPPORTED ORGANIZATIONS WOULD BE UNABLE TO ATTAIN THESE BENEFITS WITHOUT THE SUPPORTING ORGANIZATION. SUPPORTED ORGANIZATIONS ARE IDENTIFIED ON SCHEDULE A, PART I, LINE G. PART IV, SECTION E, QUESTION 2B THE SUPPORTED ORGANIZATIONS HAVE FINANCIAL ASSETS THAT NEED TO BE INVESTED. IF THE SUPPORTING ORGANIZATION WERE NOT COMPLETING THIS FUNCTION THE SUPPORTED ORGANIZATIONS WOULD BE REQUIRED TO DO SO ON THEIR OWN AND WITHOUT THE BENEFITS FROM THE ECONOMIES OF SCALE, THE PROFESSIONAL OPERATIONS AND OVERSIGHT, AND THE EXPERT IMPLEMENTATION OF QUAKER VALUES IN THE INVESTMENT PROCESS BY THE SUPPORTING ORGANIZATION. THE PLANNED GIVING SERVICES ARE OFFERED TO THE SUPPORTED ORGANIZATIONS THAT DO NOT HAVE THE STAFF AND RESOURCES TO MANAGE AND ADMINISTER A PLANNED GIVING EFFORT TO SUPPORT THEIR ORGANIZATIONS. THE REMAINDER OF GIFTS MANAGED BY FFC DIRECTLY SUPPORT THE SUPPORTED ORGANIZATIONS. PART IV, SECTION A, QUESTION 6 FRIENDS FIDUCIARY CORPORATION SERVES AS TRUSTEE FOR A NUMBER OF TRUSTS IN ITS ROLE AS SUPPORTING ORGANIZATION FOR PHILADELPHIA YEARLY MEETING (PYM). DISTRIBUTION COMMITTEES FOR THESE TRUSTS, WHICH ARE SELECTED BY THE SUPPORTED ORGANIZATION (PYM), RECOMMEND GRANTS, SUBJECT TO APPROVAL BY FRIENDS FIDUCIARY CORPORATION, TO ORGANIZATIONS, SOME OF WHICH ARE NOT SUPPORTED ORGANIZATIONS. IN ADDITION FRIENDS FIDUCIARY CORPORATION IS A SPONSORING ORGANIZATION FOR DONOR ADVISED FUNDS. DONOR ADVISORS MAY RECOMMEND GRANTS, SUBJECT TO APPROVAL BY FRIENDS FIDUCIARY CORPORATION, TO A VARIETY OF ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5 121358 187500 1933288 1 1 11846922 221358 2030715 608517 13490478 11586349 69000 807920 616347 11846922 11246296 1348404 -109576 898775 11586349 10873026 179209 797636 603575 11246296 9641265 75657 1674972 518868 10873026 0.15000 0.30000 0.55000 1 1 0 90544 90544 0 85643 82447 3196 3196 ASSETS HELD FOR BENEFIT OF OTHERS 452962268 452962268 X 5498669 1628559 65255 1693814 3804855 0 3804855 3541197 0 3541197 0 3541197 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUND THE ENDOWMENTS PROVIDE FINANCIAL SUPPORT FOR EDUCATION; HEATING AND CLOTHING; AND OTHER PURPOSES. PART X, LINE 2: UNCERTAIN TAX POSITIONS UNDER ASC 740 GAAP REQUIRES ENTITIES TO EVALUATE, MEASURE, RECOGNIZE AND DISCLOSE ANY UNCERTAIN TAX POSITIONS. GAAP PRESCRIBES A MINIMUM THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET IN ORDER TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION BELIEVES THAT IT HAD NO UNCERTAIN TAX POSITIONS AS DEFINED IN GAAP. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 9,329. CHANGE IN MARKET VALUE OF GIFT ANNUITY AGREEMENTS 55,926. NORTH AMERICA 0 0 FUNDRAISING 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 AMERICAN FRIENDS SERVICE COMMITTEE 1501 CHERRY STREET PHILADELPHIA PA 19102 231352010 501(C)(3) 25000 GENERAL PURPOSES CHEYNEY UNIVERSITY 1837 UNIVERSITY CIRCLE CHEYNEY PA 19319 237148064 501(C)(3) 59500 PROVIDE SCHOLARSHIPS AND TEACHER INTERN GRANTS. CROSSWICKS MONTHLY MEETING PO BOX 456 CROSSWICKS NJ 08515 222068867 501(C)(3) 8291 PROVIDE ASSISTANCE WITH OPERATING EXPENSES. DIVERSIFIED COMMUNITY SERVICES 1529 S 22ND STREET PHILADELPHIA PA 19146 231365980 501(C)(3) 7000 PROVIDE FINANCIAL ASSISTANCE FOR EMERGENCY OIL DELIVERIES. DORCAS SOCIETY CO FRIENDS SELECT SCHOOL 17TH BEN FRANKLIN PARKWAY PHILADELPHIA PA 19103 230604370 501(C)(3) 10084 PROVIDE SCHOLARSHIP ASSISTANCE TO CHILDREN OF NEEDY WOMEN OF PHILADELPHIA, AS CONSISTENT WITH THE PURPOSE SET FORTH IN THE CHARTER AND BYLAW OF THE SOCIETY IN 1842. ESCHATON FOUNDATION 612 OCEAN ST SANTA CRUZ CA 95060 237209584 501(C)(3) 65000 FOR FILM "BOYS WHO SAID NO" - DAF RECOMMENDATION. FRIENDS JOURNAL 1216 ARCH STREET SUITE 2A PHILADELPHIA PA 19107 231465406 501(C)(3) 25000 CAPITAL CAMPAIGN FRIENDS NEIGHBORHOOD GUILD 701 NORTH 8TH STREET PHILADELPHIA PA 19123 231424024 501(C)(3) 23450 PROVIDE FINANCIAL ASSISTANCE IN BUYING FUEL FOR CITIZENS IN NEED. GERMANTOWN LIFE ENRICHMENT CENTER 5722 GREENE ST PHILADELPHIA PA 19144 231355132 501(C)(3) 7500 TRANSITIONAL HOUSING, MEN'S SHELTER. MOTHERS IN CHARGE 520 N DELAWARE AVE STE 302 PHILADELPHIA PA 19123 300185280 501(C)(3) 12555 WOMEN WORKING FOR CHANGE PROGRAM NEW KENSINGTON CDC 2515 FRANKFORD AVE PHILADELPHIA PA 19125 222610536 501(C)(3) 7500 NEIGHBORHOOD FUEL ASSISTANCE PHILADELPHIA YEARLY MEETING 1515 CHERRY STREET PHILADELPHIA PA 19102 731646786 501(C)(3) 102213 PROVIDE SUPPORT FOR FRIENDS SOCIAL SERVICE ORGANIZATIONS. ST PETER CLAVER SCHOOL 133 WARD STREET MACON GA 31204 580971389 501(C)(3) 30000 TO BE USED AT THE PRINCIPAL'S DISCRETION - DAF RECOMMENDATION. WARREN WILSON COLLEGE PO BOX 9000 ASHEVILLE NC 28815 560767736 501(C)(3) 10000 NEW ACADEMIC BUILDING WE NEVER SAY NEVER ASSOCIATION INCORPORATED 4427 LANCASTER AVE PHILADELPHIA PA 19104 203273681 501(C)(3) 8000 PROVIDE ASSISTANCE WITH HEATING FUEL. 15 0 PART I, LINE 2: FFC FUNDS THAT MAKE GRANTS TO ORGANIZATIONS FALL UNDER TWO CATEGORIES. THE FIRST GROUP OF FUNDS MAKE GRANTS TO DESIGNATED ORGANIZATION(S) ON AN ONGOING BASIS. THE DESIGNATED RECIPIENTS OF THOSE GRANTS ARE ASKED TO REPORT ON A PERIODIC BASIS DIRECTLY TO THE CHARITABLE SERVICES COMMITTEE, A STANDING COMMITTEE OF THE BOARD OF DIRECTORS. OTHER FUNDS USE DISTRIBUTION COMMITTEES TO REVIEW GRANT APPLICATIONS 1-3 TIMES PER YEAR. THESE DISTRIBUTION COMMITTEES REPORT PERIODICALLY TO THE CHARITABLE SERVICES COMMITTEE AND, IN TURN, THE DISTRIBUTION COMMITTEES ASK THAT GRANTEES PROVIDE THE DISTRIBUTION COMMITTEE WITH A REPORT ON THE GRANTEE'S USE OF THE GRANT WITHIN A SPECIFIED TIME PERIOD, NORMALLY A YEAR AFTER THE GRANT IS RECEIVED. X X 0 0 0 0 0 0 0 0 0 JEFFERY W PERKINS EXECUTIVE DIRECTOR 163868 0 0 0 0 0 10960 0 7812 0 182640 0 0 0 RICHARD KENT CHIEF INVESTMENT OFFICER 150245 0 0 0 0 0 9053 0 864 0 160162 0 0 0 X 1 102858 MARKET VALUE 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS AMONG BOARD MEMBERS DEBORAH FRAZER IS EMPLOYED BY FRIENDS FOUNDATION FOR THE AGING ("FFA") AS EXECUTIVE DIRECTOR. CHRISTIE DUNCAN-TESSMER IS GENERAL SECRETARY FOR PHILADELPHIA YEARLY MEETING ("PYM"). PYM IS THE NAMED SUPPORTED ORGANIZATION OF FRIENDS FIDUCIARY CORPORATION. CHRISTINA REPOLEY IS THE EXECUTIVE DIRECTOR OF QUAKER VOLUNTARY SERVICE. FORM 990, PART VI, SECTION B, LINE 11B GOVERNING BODY REVIEW OF FORM 990 THE FORM 990 IS REVIEWED ANNUALLY BY THE AUDIT COMMITTEE OF THE BOARD. IN ADDITION, A COPY OF THE FORM 990 IS SENT ELECTRONICALLY TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR THEIR REVIEW BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT OF INTEREST POLICY BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE EACH YEAR IN WHICH THEY MUST DISCLOSE SUCH INTERESTS THAT MIGHT GIVE RISE TO POTENTIAL CONFLICTS. THE COMPLETED QUESTIONNAIRES ARE REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE HUMAN RESOURCES COMMITTEE AND THE BOARD CHAIR ARE RESPONSIBLE FOR THE EVALUATION OF THE EXECUTIVE DIRECTOR. THIS INCLUDES AN ANNUAL FORMAL PERFORMANCE APPRAISAL AND THE DETERMINATION OF APPROPRIATE COMPENSATION. BOTH THE CALCULATION AND ANY CHANGE IN COMPENSATION IS APPROVED BY THE BOARD. INFORMATION IS OBTAINED FROM SURVEYS OF COMPENSATION AT OTHER COMPARABLE NON-PROFIT ORGANIZATIONS. THE EXECUTIVE DIRECTOR EVALUATES ALL OTHER STAFF; THE EVALUATIONS AND ANY CHANGES IN COMPENSATION ARE REVIEWED BY THE HUMAN RESOURCES COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF OTHER DOCUMENTS THE ANNUAL AUDIT OF FRIENDS FIDUCIARY CORPORATION'S CONSOLIDATED FUND, QUAKER INDEX FUND AND QUAKER GREEN FUND IS DISTRIBUTED TO CONSTITUENT ORGANIZATIONS INVESTING IN THE FUND AND TO PROSPECTIVE INVESTOR ORGANIZATIONS UPON REQUEST. THE CORPORATION'S AUDIT IS PROVIDED TO ALL STATES WHERE REQUIRED AND IS ALSO AVAILABLE UPON REQUEST. FRIENDS FIDUCIARY CORPORATION'S GOVERNANCE STANDARDS AND INVESTMENT PHILOSOPHY AND GUIDANCE POLICIES ARE POSTED ON ITS WEBSITE AND ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 9,329. CHANGE IN MARKET VALUE OF GIFT ANNUITY AGREEMENTS 55,926.