Civic Intelligence

Fernwood Group Fund

990 • Fiscal year 2019 • EIN 82-2364976

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 04, 2020

Organization ProfileN/A
CO Geller Advisors PO Box 1510New York, NY 10150

(212) 583-6000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • $250M-$1B nonprofits • Source year 2019

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2019 filings • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • $250M-$1B nonprofits • Source year 2019

Asset Growth

97th percentile

59%

Faster asset growth than 97% of similar nonprofits.

2019 filings • $250M-$1B nonprofits • Annualized from 2017 to 2019

Revenue Growth

88th percentile

24%

Faster revenue growth than 88% of similar nonprofits.

2019 filings • $250M-$1B nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$503,031,062

Up $303,031,254 (+152%) from 2017

Net Assets

Up

$503,031,062

Up $303,031,254 (+152%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin99th percentile

Revenue

Up

$307,633,280

Up $107,633,280 (+54%) from 2017

Expenses

Up

$12,756,354

Up $12,756,162 (+6643834%) from 2017

Net Income

Up

$294,876,926

Up $94,877,118 (+47%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2017: $199,999,808Liabilities 2017: $0Net Assets 2017: $199,999,8082017Assets 2019: $503,031,062Liabilities 2019: $0Net Assets 2019: $503,031,0622019Assets 2020: $536,008,787Liabilities 2020: $0Net Assets 2020: $536,008,7872020Assets 2021: $587,479,281Liabilities 2021: $0Net Assets 2021: $587,479,2812021Assets 2022: $501,568,106Liabilities 2022: $0Net Assets 2022: $501,568,1062022Assets 2023: $583,718,782Liabilities 2023: $0Net Assets 2023: $583,718,7822023Assets 2024: $669,008,236Liabilities 2024: $0Net Assets 2024: $669,008,2362024

Highlighted filing

2019

Assets$503,031,062
Liabilities$0
Net Assets$503,031,062
Open 2019 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$300M$200M$100M$0-$100MRevenue 2017: $200,000,000Expenses 2017: $192Net Income 2017: $199,999,8082017Revenue 2019: $307,633,280Expenses 2019: $12,756,354Net Income 2019: $294,876,9262019Revenue 2020: $13,218,605Expenses 2020: $14,168,269Net Income 2020: -$949,6642020Revenue 2021: $49,187,170Expenses 2021: $29,483,559Net Income 2021: $19,703,6112021Revenue 2022: $18,445,805Expenses 2022: $30,536,327Net Income 2022: -$12,090,5222022Revenue 2023: $60,608,784Expenses 2023: $28,127,835Net Income 2023: $32,480,9492023Revenue 2024: $78,356,505Expenses 2024: $28,191,270Net Income 2024: $50,165,2352024

Highlighted filing

2019

Revenue$307,633,280
Expenses$12,756,354
Net Income$294,876,926
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 4, 2020
Return Version
2019v5.1
Gross Receipts
$333,408,183
Mission and Program Overview

Mission

See explanation for part i, line 1 on schedule o.

Fernwood group fund conducts activities for the exclusive purpose of promoting social welfare, including charitable activities, within the meaning of section 501(c)(4) of the internal revenue code of 1986, primarily through the making of grants to other social welfare organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$150,035,627$247,563,030▲ $97,527,403
Investments Other Securities-$133,469,327-
Cash and Non-Interest-Bearing Accounts$20,510,092$112,129,545▲ $91,619,453
Total Assets$176,042,927$503,031,062▲ $326,988,135
Other Assets Total$5,497,208$9,869,160▲ $4,371,952
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$176,042,927$503,031,062▲ $326,988,135
Total Net Assets Fund Balance$176,042,927$503,031,062▲ $326,988,135
Total Liabilities and Net Assets / Fund Balance$176,042,927$503,031,062▲ $326,988,135

Asset Categories

AssetBook ValueDepreciationBasis
Closely Held Equity Interests$133,469,327--
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Patricia E HarrisPresident & Chief Executiv
Allison JaffinDirector
Richard K DeschererDirector
Thomas H GoldenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$302,469,327
Program Service Revenue
$0
Investment Income
$5,163,953
Other Revenue
$0
All Other Contributions
$302,469,327
Change in Net Assets
$294,876,926

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Closely Held Stock1$133,469,327Estimated Valuation
Total Noncash Contributions1$133,469,327-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$11,935,000
Other Expenses$821,354
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$11,935,000--$11,935,000
Fees for Services Management-$617,438-$617,438
Insurance-$33,260-$33,260
Other Expenses-$25-$25
Total Functional Expenses$11,935,000$821,354$0$12,756,354
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Tobacco-free Kids Action FundWashington, DC501(c)(4)To Reduce Tobacco Use.$11,935,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Richard descherer and thomas golden have a business relationship based on a common employer. Patricia harris and allison jaffin have a business relationship based on a common employer.”

Form 990, Part VI, Section A, Line 4

“The organization approved amended and restated bylaws and an amendment to its certificate of incorporation on 11/25/2019.”

Form 990, Part VI, Section A, Line 6

“The organization's bylaws provide for its directors to be members.”

Form 990, Part VI, Section A, Line 7A

“The organization's bylaws provide that the directors are entitled to vote for the election of directors.”

Form 990, Part VI, Section A, Line 8B

“The organization has no committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“All of the directors will be provided a copy of the current year form 990 before a director signs and files the return.”

Form 990, Part VI, Section B, Line 12C

“The policy was adopted in 2018 and provided to the directors. Fernwood group fund will require its members, directors, officers and principal employees, if any, to provide annual signed statements agreeing to comply with the policy.”

Form 990, Part VI, Section B, Line 15

“No compensation was paid to any directors or officers and, as such, no review of comparability data was necessary.”

Form 990, Part VI, Section C, Line 19

“The organization makes its certificate of incorporation, bylaws, and financial statements available to the public upon request. Request for reviewing the organization's documents can be addressed to the organization in care of geller advisors llc as noted in part vi, section c, question 20.”

Filing and Contact Details

Filer

Filer Name
Fernwood Group Fund
EIN
82-2364976
Phone
2125836000
Address
CO GELLER ADVISORS PO BOX 1510, NEW YORK, NY 10150

Signing Officer

Name
Patricia E Harris
Title
President & Chief Executive Officer
Phone
2125836000
Signed
2020-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patricia E Harris
Formed
2017
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Geller & Company LLC
Address
PO BOX 1510, NEW YORK, NY 10150
Preparer
Joseph Kluemper
Phone
2125836000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Unrealized gain on marketable securities 32,111,209.”

FORM 990, PART XII, LINE 1:

“The basis of accounting for fernwood group fund is a modified cash basis of accounting. Revenues, such as grants and contributions, and interest and dividend income are recognized when received rather than when earned. Expenses are recorded when paid rather than when incurred. The basis of accounting is on a modified cash basis because marketable investments are recorded at fair value.”

Raw XML Appendix330 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0FERNWOOD GROUP FUND CONDUCTS ACTIVITIES FOR THE EXCLUSIVE PURPOSE OF PROMOTING SOCIAL WELFARE, INCLUDING CHARITABLE ACTIVITIES, WITHIN THE MEANING OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, PRIMARILY THROUGH THE MAKING OF GRANTS TO OTHER SOCIAL WELFARE ORGANIZATIONS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT & CHIEF EXECUTIV
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANT RECIPIENTS ARE SUBJECT TO A DUE DILIGENCE REVIEW AND GRANT BUDGETS ARE CREATED FOR EACH GRANT. GRANT RECIPIENTS ARE REQUIRED TO PROVIDE NARRATIVE PROGRAMMATIC AND FINANCIAL REPORTS TO ENSURE COMPLIANCE WITH PROGRAMMATIC PURPOSE AND EXPENDITURE OF FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RICHARD DESCHERER AND THOMAS GOLDEN HAVE A BUSINESS RELATIONSHIP BASED ON A COMMON EMPLOYER. PATRICIA HARRIS AND ALLISON JAFFIN HAVE A BUSINESS RELATIONSHIP BASED ON A COMMON EMPLOYER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION APPROVED AMENDED AND RESTATED BYLAWS AND AN AMENDMENT TO ITS CERTIFICATE OF INCORPORATION ON 11/25/2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S BYLAWS PROVIDE FOR ITS DIRECTORS TO BE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S BYLAWS PROVIDE THAT THE DIRECTORS ARE ENTITLED TO VOTE FOR THE ELECTION OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL OF THE DIRECTORS WILL BE PROVIDED A COPY OF THE CURRENT YEAR FORM 990 BEFORE A DIRECTOR SIGNS AND FILES THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE POLICY WAS ADOPTED IN 2018 AND PROVIDED TO THE DIRECTORS. FERNWOOD GROUP FUND WILL REQUIRE ITS MEMBERS, DIRECTORS, OFFICERS AND PRINCIPAL EMPLOYEES, IF ANY, TO PROVIDE ANNUAL SIGNED STATEMENTS AGREEING TO COMPLY WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO COMPENSATION WAS PAID TO ANY DIRECTORS OR OFFICERS AND, AS SUCH, NO REVIEW OF COMPARABILITY DATA WAS NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION MAKES ITS CERTIFICATE OF INCORPORATION, BYLAWS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. REQUEST FOR REVIEWING THE ORGANIZATION'S DOCUMENTS CAN BE ADDRESSED TO THE ORGANIZATION IN CARE OF GELLER ADVISORS LLC AS NOTED IN PART VI, SECTION C, QUESTION 20.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9UNREALIZED GAIN ON MARKETABLE SECURITIES 32,111,209.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THE BASIS OF ACCOUNTING FOR FERNWOOD GROUP FUND IS A MODIFIED CASH BASIS OF ACCOUNTING. REVENUES, SUCH AS GRANTS AND CONTRIBUTIONS, AND INTEREST AND DIVIDEND INCOME ARE RECOGNIZED WHEN RECEIVED RATHER THAN WHEN EARNED. EXPENSES ARE RECORDED WHEN PAID RATHER THAN WHEN INCURRED. THE BASIS OF ACCOUNTING IS ON A MODIFIED CASH BASIS BECAUSE MARKETABLE INVESTMENTS ARE RECORDED AT FAIR VALUE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XII, LINE 1:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0DE
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0176042927
IRS990/TotalAssetsEOYAmt0503031062
IRS990/TotalAssetsGrp/BOYAmt0176042927
IRS990/TotalAssetsGrp/EOYAmt0503031062
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0302469327
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0821354
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011935000
IRS990/TotalFunctionalExpensesGrp/TotalAmt012756354
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0176042927
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0503031062
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt011935000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt05163953
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0307633280
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0176042927
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0503031062
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O GELLER ADVISORS PO BOX 1510
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010150
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-01-07 14:23:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICIA E HARRIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum02125836000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FERNWOOD GROUP FUND
ReturnHeader/Filer/BusinessNameControlTxt0FERN
ReturnHeader/Filer/EIN0822364976
ReturnHeader/Filer/PhoneNum02125836000
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO GELLER ADVISORS PO BOX 1510
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010150
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DABFF128945CA545DFA598B3DF002DF62DC3D705
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DABFF128945CA545DFA598B3DF002DF62DC3D705
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt065.219.224.250
ReturnHeader/FilingSecurityInformation/IPDt02020-11-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm012:48:10
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0134149326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GELLER & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1510
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010150
ReturnHeader/PreparerPersonGrp/PhoneNum02125836000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH KLUEMPER
ReturnHeader/ReturnTs02020-11-11T13:46:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$503,031,062
Liabilities
$0
Net assets
$503,031,062
Revenue
$307,633,280
Expenses
$12,756,354
Net income
$294,876,926
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$669$0.00$669$78.4$28.2$50.2
2023Detailed filing. Detailed filing data is available for this year.$584$0.00$584$60.6$28.1$32.5
2022Detailed filing. Detailed filing data is available for this year.$502$0.00$502$18.4$30.5$12.1
2021Detailed filing. Detailed filing data is available for this year.$587$0.00$587$49.2$29.5$19.7
2020Detailed filing. Detailed filing data is available for this year.$536$0.00$536$13.2$14.2$0.95
2019Detailed filing. Detailed filing data is available for this year.$503$0.00$503$308$12.8$295
2017Summary only. Only limited summary data is available for this year.$200$0.00$200$200$0.00$200