2015-06-23T14:28:04-05:00 2014-12-31 232896692 BBD LLP 1835 MARKET STREET 26TH FLOOR PHILADELPHIA PA 19103 990 2014-01-01 231968136 FRIENDS FIDUCIARY CORPORATION FRIE 2152417272 1650 ARCH STREET NO 1904 PHILADELPHIA PA 19103 JEFFERY W PERKINS EXECUTIVE DIRECTOR 2152417272 2015-06-23 1 JENNIFER SOLOT P00749373 2155677770 2014 2016-04-25 22:37:26Z JEFFERY W PERKINS 1650 ARCH STREET NO 1904 PHILADELPHIA PA 19103 3302843 0 X WWW.FRIENDSFIDUCIARY.ORG X 1975 PA GUIDED BY QUAKER PRINCIPLES, VALUES AND TESTIMONIES, FRIENDS FIDUCIARY (CONTINUED ON SCHEDULE O) PROVIDES PRUDENT, COST-EFFECTIVE MANAGEMENT OF FINANCIAL ASSETS FOR FRIENDS ORGANIZATIONS FOLLOWING QUAKER VALUES. 17 17 6 57 0 0 107377 218676 2199084 2447531 452885 514436 0 0 2759346 3180643 471227 476857 0 0 533505 522972 0 0 0 1673376 1884909 2678108 2884738 81238 295905 303070451 327779674 291059201 315145139 12011250 12634535 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 1996486 2084210 INVESTMENT MANAGEMENT SERVICES:FRIENDS FIDUCIARY CORPORATION PROVIDES PRUDENT, COST EFFECTIVE, PROFESSIONAL INVESTMENT SERVICES FOR OVER 300 FRIENDS MEETINGS, CHURCHES, SCHOOLS AND ORGANIZATIONS. OUR SOCIALLY RESPONSIBLE INVESTMENT ACTIVITIES INCLUDE SCREENING COMPANIES, ACTIVE VOTING OF PROXIES AND SHAREHOLDER ACTIVITIES, SUCH AS RESOLUTIONS AND COMPANY DIALOGUES - ALL GUIDED BY OUR FAITH BASED TESTIMONIES AND CONCERNS. 596587 476857 145152 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 2014, OVER 100 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. 125684 218169 PLANNED GIVING:FRIENDS FIDUCIARY CORPORATION HAS ISSUED OVER 300 CHARITABLE GIFT ANNUITIES TO BENEFIT THE WORK OF QUAKER ORGANIZATIONS WITHIN THE RELIGIOUS SOCIETY OF FRIENDS AND THE CONCERNS OF ITS MEMBERS. IN 2014, GIFTS TOTALING OVER $635,000 WERE RECEIVED TO ESTABLISH CHARITABLE GIFT ANNUITIES, WHICH WILL EVENTUALLY BENEFIT OVER 70 DIFFERENT QUAKER ORGANIZATIONS WORKING IN AREAS OF EDUCATION, AGING CONCERNS AND OTHER CHARITABLE PURPOSES OF IMPORTANCE TO FRIENDS. FRIENDS FIDUCIARY CORPORATION PROVIDES PLANNED GIVING ADMINISTRATION SERVICES AS WELL AS INVESTMENT MANAGEMENT OF GIFTED ASSETS. 2718757 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 12 0 6 1 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AK CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO NC NH NJ NM NY OH OR PA RI TN VA WA WI WV X EXECUTIVE DIRECTOR 2152417272 1650 ARCH STREET SUITE 1904 PHILADELPHIA PA 19103 LOUISE SENOPOULOS CHAIRPERSON 10.00 X X 0 0 0 THOMAS WILLIAMS VICE CHAIR 6.00 X X 0 0 0 ROGER F WOOD SECRETARY 4.00 X X 0 0 0 SAMUEL ALLEN TREASURER 4.00 X X 0 0 0 GINNY CHRISTENSEN DIRECTOR 2.00 X 0 0 0 DEBORAH FRAZER DIRECTOR 2.00 X 0 0 0 BRUCE E HUNT DIRECTOR 4.00 X 0 0 0 ARTHUR M LARRABEE DIRECTOR 2.00 X 0 0 0 LOUIS MATLACK DIRECTOR 2.00 X 0 0 0 H DAVID RAPER DIRECTOR 4.00 X 0 0 0 NORVAL D REECE DIRECTOR 4.00 X 0 0 0 DARYL RENSCHLER DIRECTOR 2.00 X 0 0 0 CHRISTINA REPOLEY DIRECTOR 2.00 X 0 0 0 WILLIAM SCHMIDT DIRECTOR 4.00 X 0 0 0 JOHN SLATER DIRECTOR 2.00 X 0 0 0 ROBERT TAYLOR DIRECTOR 2.00 X 0 0 0 RICHARD WILLIS JR DIRECTOR 2.00 X 0 0 0 JEFFERY W PERKINS EXECUTIVE DIRECTOR 40.00 X 176811 0 19326 RICHARD KENT CHIEF INVESTMENT OFFICER 40.00 X 134613 0 9849 311424 0 29175 2 0 1 0 0 218676 179209 218676 FEES FOR MANAGED FUNDS 523920 2447531 2447531 2447531 467046 467046 169590 122200 47390 47390 47390 3180643 2447531 0 514436 476857 476857 202126 171807 30319 255354 238970 16384 14103 13238 865 19451 17927 1524 31938 28744 3194 18367 17417 950 38000 22800 15200 1281350 1281350 57300 18058 39242 15854 12683 3171 26230 21097 5133 37326 30160 7166 45861 36689 9172 19260 16601 2659 3254 2603 651 76578 61262 15316 BACK OFFICE SERVICES 225680 212985 12695 STATE REGISTRATION 19801 19801 DUES AND SUBSCRIPTIONS 15245 13866 1379 4803 3842 961 2884738 2718757 165981 0 46001 55303 13007960 10237446 39101 21747 176187 165484 2855 10703 289854006 317335352 120528 119123 303070451 327779674 277316 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PARK PREPARATIVE MEETING 526044750 1 0 0 0 TEMPE FRIENDS MONTHLY MEETING 860634034 1 0 0 0 THE FIDUCIARY TRUSTEES OF OHIO YEAR 316043452 1 0 0 0 THE HICKMAN 231352144 7 0 0 0 THIRD HAVEN MONTHLY MEETING 520689918 1 0 0 0 THIRD HAVEN MONTHLY MEETING TRUSTEE 231352146 1 0 0 0 THIRD HAVEN SCHOLARSHIP COMMITTEE 520689918 1 0 0 0 TRENTON MONTHLY MEETING 210694745 1 0 0 0 UNITY MONTHLY MEETING 731646786 1 1 0 0 UPPER DUBLIN GRAVEYARD 231339676 1 0 0 0 UPPER DUBLIN MONTHLY MEETING 231339676 1 0 0 0 UWCHLAN MONTHLY MEETING 731646786 1 1 0 0 VALLEY MONTHLY MEETING 232611175 1 0 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 0 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 0 0 0 WILLISTOWN MONTHLY MEETING TRUSTEES 232623853 1 0 0 0 WILMINGTON MONTHLY MEETING TRUSTEES 510080062 1 0 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 0 0 0 YARDLEY MONTHLY MEETING 731646786 1 1 0 0 YOUNG FRIENDS AID ASSOCIATION 136017755 1 0 0 0 293 236043 0 0 0 0 0 0 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 OR 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3 179209 187000 870053 1 1 10873026 179209 797636 603575 11246296 9641265 75657 1674972 518868 10873026 9062244 200671 977911 599561 9641265 9501324 24663 65982 529725 9062244 8948420 51321 1057929 556346 9501324 0.08630 0.31970 0.59400 1 1 0 90544 90180 364 85643 75304 10339 10703 ASSETS HELD FOR BENEFIT OF OTHERS 314022344 314022344 X 3508023 337430 -10050 327380 3180643 0 3180643 2884738 0 2884738 0 2884738 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 -1,405. CHANGE IN MARKET VALUE OF GIFT ANNUITY AGREEMENTS -8,645. 1 BARCLAY FRIENDS 700 N FRANKLIN STREET WEST CHESTER PA 19380 232088476 501(C)(3) 75000 PROVIDE SUPPORT TO THE SPRIRIT OF VITALITY - A CAMPAIGN FOR BARCLAY FRIENDS CHEYNEY UNIVERSITY 1837 UNIVERSITY CIRCLE CHEYNEY PA 19319 237148064 501(C)(3) 57722 PROVIDE SCHOLARSHIPS AND TEACHER INTERN GRANTS. CROSSWICKS MONTHLY MEETING PO BOX 456 CROSSWICKS NJ 08515 222068867 501(C)(3) 8135 PROVIDE ASSISTANCE WITH OPERATING EXPENSES. DEPAUL CATHOLIC SCHOOL 44 WEST LOGAN STREET PHILADELPHIA PA 19144 232407829 501(C)(3) 15000 PROVIDE FINANCIAL ASSISTANCE IN SUPPORT OF INSTRUCTIONAL COACHING. DIVERSIFIED COMMUNITY SERVICES 1529 S 22ND STREET PHILADELPHIA PA 19146 231365980 501(C)(3) 6000 PROVIDE FINANCIAL ASSISTANCE FOR EMERGENCY OIL DELIVERIES FRIENDS NEIGHBORHOOD GUILD 701 NORTH 8TH STREET PHILADELPHIA PA 19123 231424024 501(C)(3) 26188 PROVIDE FINANCIAL ASSISTANCE IN BUYING FUEL FOR CITIZENS IN NEED. FRIENDS OF THE WISSAHICKON 8708 GERMANTOWN AVENUE PHILADELPHIA PA 19118 236251649 501(C)(3) 10000 PROVIDE ASSISTANCE WITH OPERATING EXPENSES. FRIENDS PUBLISHING CORPORATION 1216 ARCH STREET SUITE 2A PHILADELPHIA PA 19107 231465406 501(C)(3) 10000 WEBSITE REDESIGN PROJECT. FRIENDS SELECT SCHOOL 17TH STREET AND BEN FRANKLIN PARKWAY PHILADELPHIA PA 19103 230604370 501(C)(3) 10156 PROVIDE SCHOLARSHIP ASSISTANCE TO CHILDREN OF NEEDY WOMEN OF PHILADELPHIA. GOODWILL INDUSTRIES OF SO NJ AND PHILA 1501 CHERRY STREET SUITE 128 PHILADELPHIA PA 19102 210681239 501(C)(3) 5000 PROVIDE SUPPORT TO THE CENTER FOR RETURNING CITIZENS. INDEPENDENCE MISSION SCHOOLS 555 CROTON ROAD SUITE 310 KING OF PRUSSIA PA 19406 454720688 501(C)(3) 50000 SUPPORT THE SPRINGBOARD COLLABORATIVE - SUMMER 2014 AT DEPAUL CATHOLIC SCHOOL NEW DAY DROP-IN CENTERSALVATION ARMY 4050 CONSHOHOCKEN AVENUE PHILADELPHIA PA 19131 135562351 501(C)(3) 10509 PROVIDE ASSISTANCE WITH OPERATING EXPENSES. NEW KENSINGTON CDC 2515 FRANKFORD AVENUE PHILADELPHIA PA 19125 222610536 501(C)(3) 9000 PROVIDE ASSISTANCE WITH HEATING FUEL. PHILADELPHIA YEARLY MEETING 1515 CHERRY STREET PHILADELPHIA PA 19102 731646786 501(C)(3) 105020 PROVIDE SUPPORT FOR FRIENDS SOCIAL SERVICE ORGANIZATIONS. SOJOURNER HOUSE PO BOX 13758 PHILADELPHIA PA 19101 231984838 501(C)(3) 5000 PROVIDE SUPPORT FOR HOMELESS TRANSITIONAL HOUSING. ST PETER CLAVER SCHOOL 133 WARD STREET MACON GA 31204 580971389 501(C)(3) 20000 TO BE USED AT THE PRINCIPAL'S DISCRETION. WE NEVER SAY NEVER ASSOCIATION INCORPORATED 4427 LANCASTER AVE PHILADELPHIA PA 19104 203273681 501(C)(3) 5000 PROVIDE ASSISTANCE WITH HEATING FUEL. 17 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 176811 0 0 0 0 0 10915 0 8411 0 196137 0 0 0 X 1 179209 FAIR MARKET VALUE 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS AMONG BOARD MEMBERS ROBERT TAYLOR AND THOMAS WILLIAMS BOTH SERVED ON THE BOARD OF DIRECTORS FOR OCTAVIA HILL ASSOCIATION, WHICH HAS NO BUSINESS RELATIONSHIP WITH FRIENDS FIDUCIARY CORPORATION. DEBORAH FRAZER IS EMPLOYED BY FRIENDS FOUNDATION FOR THE AGING ("FFA") AS EXECUTIVE DIRECTOR; LOU MATLACK IS A TRUSTEE OF FFA. CHRISTIE DUNCAN-TESSMER AND MARK MYERS ARE BOTH OFFICERS OF FRIENDS CENTER CORPORATION. CHRISTIE DUNCAN-TESSMER IS GENERAL SECRETARY FOR PHILADELPHIA YEARLY MEETING ("PYM"). PYM IS THE NAMED SUPPORTED ORGANIZATION OF FRIENDS FIDUCIARY CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 GOVERNING BODY REVIEW OF FORM 990 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 AN INFORMATION FORM EACH YEAR IN WHICH THEY MUST DISCLOSE SUCH INTERESTS THAT MIGHT GIVE RISE TO POTENTIAL CONFLICTS. 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. 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 AND QUAKER GREEN FUND IS AVAILABLE UPON REQUEST TO CONSTITUENT ORGANIZATIONS AND PROSPECTIVE INVESTOR ORGANIZATIONS. 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 -1,405. CHANGE IN MARKET VALUE OF GIFT ANNUITY AGREEMENTS -8,645.