2024-04-24T09:32:44-05:00 2023-06-30 420714325 RSM US LLP 151 WEST 42ND STREET 19TH FLOOR NEW YORK NY 10036 990 2022-07-01 812936865 FCLT CO FCLT 6172036599 31 ST JAMES AVE 890 BOSTON MA 02116 SARAH KEOHANE WILLIAMSON PRESIDENT & CEO 6172036599 2024-04-23 1 SARAH KEOHANE WILLIAMSON XXX-XX-XXXX 0 KRISTIN ANDERSON P01231300 2123721000 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z FCLTGLOBAL SARAH KEOHANE WILLIAMSON 31 ST JAMES AVE 890 BOSTON MA 02116 7585655 0 X WWW.FCLTGLOBAL.ORG X 2016 DE TO FOCUS CAPITAL ON THE LONG TERM TO SUPPORT A SUSTAINABLE AND PROSPEROUS ECONOMY. 17 17 24 30 0 0 3566529 3676803 1602000 1695227 -27279 150368 2364 22 5143614 5522420 0 0 0 0 3434256 3614030 0 0 663451 811799 1094456 4246055 4708486 897559 813934 5572639 6348340 1378073 1434422 4194566 4913918 X FCLT CO. (FCLT) MISSION IS TO FOCUS CAPITAL ON THE LONG-TERM TO SUPPORT A SUSTAINABLE AND PROSPEROUS ECONOMY. FCLT IS A NON-PROFIT ORGANIZATION WHOSE MEMBERS ARE LEADING COMPANIES AND INVESTORS WORLDWIDE THAT DEVELOPS ACTIONABLE RESEARCH AND TOOLS TO DRIVE LONG-TERM VALUE CREATION FOR SAVERS AND COMMUNITIES. 0 0 3358948 0 1695227 CONDUCTING RESEARCH, COVENING BUSINESS LEADERS, DEVELOPING EDUCATIONAL RESOURCES AND ACTIONABLE RECOMMENDATIONS, AND GENERATING BROAD AWARENESS OF WAYS IN WHICH A LONGER-TERM FOCUS CAN INCREASE INNOVATION, ECONOMIC GROWTH AND FUTURE SAVINGS. 3358948 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 24 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA NY X KERSTEN LANES 6172036599 31 ST JAMES AVE 890 BOSTON MA 02116 CARMINE DISIBIO DIRECTOR 1.00 X 0 0 0 ADENA FRIEDMAN DIRECTOR 1.00 X 0 0 0 JOHN GRAHAM DIRECTOR 1.00 X 0 0 0 PETER HARRISON DIRECTOR 1.00 X 0 0 0 ALAN JOPE DIRECTOR 1.00 X 0 0 0 KEWSONG LEE DIRECTOR 1.00 X 0 0 0 CHOW-KIAT LIM DIRECTOR (UNTIL 8/31/2022) 1.00 X 0 0 0 BERNARD LOONEY DIRECTOR (FROM 9/1/2022) 1.00 X 0 0 0 GERALDINE MATCHETT DIRECTOR 1.00 X 0 0 0 DAVID NEAL DIRECTOR 1.00 X 0 0 0 DILHAN PILLAY SANDRASEGARA DIRECTOR (FROM 9/1/2022) 1.00 X 0 0 0 KEVIN SNEADER DIRECTOR 1.00 X 0 0 0 BOB STERNFELS DIRECTOR 1.00 X 0 0 0 HOWARD UNGERLEIDER DIRECTOR 1.00 X 0 0 0 MARK WIEDMAN DIRECTOR 1.00 X 0 0 0 RONALD WUIJSTER DIRECTOR 1.00 X 0 0 0 LEI ZHANG DIRECTOR 1.00 X 0 0 0 THERESA WHITMARSH CHAIR, DIRECTOR 1.00 X X 0 0 0 SARAH KEOHANE WILLIAMSON PRESIDENT & CEO 40.00 X 524063 0 10351 MARGARET ADAMS MANAGING DIRECTOR 40.00 X 256906 0 15838 KERSTEN LANES MANAGING DIRECTOR (FROM 11/16/2022) 16.00 X 258875 0 6328 STEVE BOXER MANAGING DIRECTOR 30.00 X 212541 0 25089 ARIEL BABCOCK MANAGING DIRECTOR (UNTIL 8/11/2022) 40.00 X 184189 0 3074 VEENA RAMANI DIRECTOR (UNTIL 4/12/2023) 40.00 X 175243 0 39505 JOHN LEATHERMAN MANAGING DIRECTOR 40.00 X 191500 0 10038 JOEL PAULA DIRECTOR 40.00 X 157031 0 13902 ROSS PARKER DIRECTOR 40.00 X 137344 0 15652 ALLEN HE ASSOCIATE DIRECTOR 40.00 X 128851 0 11727 2226543 0 151504 11 0 1 0 0 3676803 8030 3676803 MEMBERSHIP DUES 900099 1695227 1695227 1695227 113603 113603 2100000 2063235 36765 36765 36765 OTHER REVENUE 900099 22 22 22 5522420 1695227 0 150390 1518776 1086874 171899 260003 1689168 1208810 191185 289173 42075 30110 4762 7203 161007 115220 18224 27563 203004 145275 22976 34753 81465 22066 59333 66 20715 1793 18922 68250 68250 119485 119000 485 267518 263035 320 4163 59428 19585 35411 4432 35046 25084 3961 6001 142412 102417 15514 24481 184469 166251 18218 186 186 31665 23464 2588 5613 13657 13657 PROFESSIONAL DEVELOPMEN 54023 15132 38891 SUBSCRIPTIONS 11900 11900 MEMBERSHIP FEES 2746 2746 FILING FEES 1491 1491 4708486 3358948 686087 663451 1495319 250000 1022664 3459509 300000 260250 67322 109209 191168 165132 50701 26036 2436614 1932459 200019 310877 5572639 6348340 347050 433207 755080 743580 275943 257635 1378073 1434422 X 4090566 4705918 104000 208000 4194566 4913918 5572639 6348340 813934 -94582 0 X 0 1 X 1 0 X 2439000 2470000 3449018 3566529 3676803 15601350 1115918 1115249 1285752 1602000 1695227 6814146 3554918 3585249 4734770 5168529 5372030 22415496 765000 554000 502000 375000 554000 2750000 0 765000 554000 502000 375000 554000 2750000 19665496 38475 18020 11482 37480 113603 219060 38475 18020 11482 37480 113603 219060 15412 2782 4857 2364 22 25437 3608805 3606051 4751109 5208373 5485655 22659993 0.86790 0.48550 0.00970 0.00510 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2018 AMOUNT: $ 15,412. 2019 AMOUNT: $ 2,782. 2020 AMOUNT: $ 4,857. 2021 AMOUNT: $ 2,364. 2022 AMOUNT: $ 22. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58463 58463 0 57105 37874 19231 75600 68795 6805 26036 CONTRACT LIABILITY - MEMBERSHIPS 115000 LEASE LIABILITY 142635 257635 X 5458064 -94582 30226 -64356 5522420 0 5522420 4738712 30226 30226 4708486 0 4708486 PART X, LINE 2: THE ORGANIZATION IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION FOLLOWS THE FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2023 AND 2022. WITH FEW EXCEPTIONS, THE ORGANIZATION IS ONLY SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S., FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. THE ORGANIZATION WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE MEMBER CONVENINGS 8215 EAST ASIA AND THE PACIFIC 0 1 ADMIN/GOVERNANCE 67878 NORTH AMERICA 0 1 MEMBERSHIP RELATIONS 256228 0 2 0 0 0 2 332321 0 332321 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X 0 0 0 0 0 0 0 1 0 SARAH KEOHANE WILLIAMSON PRESIDENT & CEO 330563 0 193500 0 0 0 9917 0 434 0 534414 0 0 0 MARGARET ADAMS MANAGING DIRECTOR 206906 0 50000 0 0 0 6210 0 9628 0 272744 0 0 0 KERSTEN LANES MANAGING DIRECTOR (FROM 11/16/2022) 198875 0 60000 0 0 0 5966 0 362 0 265203 0 0 0 STEVE BOXER MANAGING DIRECTOR 162541 0 50000 0 0 0 4929 0 20160 0 237630 0 0 0 VEENA RAMANI DIRECTOR (UNTIL 4/12/2023) 145243 0 30000 0 0 0 4544 0 34961 0 214748 0 0 0 JOHN LEATHERMAN MANAGING DIRECTOR 151500 0 40000 0 0 0 4695 0 5343 0 201538 0 0 0 ARIEL BABCOCK MANAGING DIRECTOR (UNTIL 8/11/2022) 124189 0 60000 0 0 0 2831 0 243 0 187263 0 0 0 JOEL PAULA DIRECTOR 135031 0 22000 0 0 0 4059 0 9843 0 170933 0 0 0 ROSS PARKER DIRECTOR 114344 0 23000 0 0 0 3453 0 12199 0 152996 0 0 0 PART I, LINE 7 EMPLOYEES ARE ELIGIBLE FOR DISCRETIONARY PERFORMANCE BONUSES BASED ON PERSONAL AND COMPANY PERFORMANCE. FORM 990, PART V, LINE 1A: FCLT'S HUMAN RESOURCES FUNCTIONS ARE PERFORMED BY A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THE PEO FILES FORMS 1099 ON BEHALF OF FCLT. DURING THE 2022 CALENDAR YEAR, FCLT ISSUED A TOTAL OF 6 FORMS 1099, WHILE THE PEO ISSUED A TOTAL OF 2 FORMS 1099, TOTALING 8 FORMS 1099 ISSUED BY OR ON BEHALF OF THE ORGANIZATION. FORM 990, PART V, LINE 2A: FCLT'S HUMAN RESOURCES FUNCTIONS ARE PERFORMED BY A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THE PEO FILES FORMS W-2 ON BEHALF OF FCLT. DURING THE 2022 CALENDAR YEAR, THE PEO FILED 24 FORMS W-2 ON BEHALF OF FCLT. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION OF THE 2022 FORM 990, THE ENTIRE FORM 990 IS FIRST REVIEWED BY MANAGEMENT. SOON AFTER, THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE IRS FORM 990 AT A BOARD MEETING PRIOR TO FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY THROUGHOUT THE YEAR BY COMMUNICATING ON A REGULAR BASIS WITH ALL NECESSARY PARTIES. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CEO IS DETERMINED BY THE COMPENSATION COMMITTEE AND BOARD OF DIRECTORS ON AN ANNUAL BASIS UTILIZING COMPARABILITY DATA. THIS PROCESS IS DOCUMENTED CONTEMPORANEOUSLY. KEY EMPLOYEES' COMPENSATION IS DETERMINED AND REVIEWED ANNUALLY BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE.