Massachusetts · Nonprofit
FSG INC
FSG INC (Massachusetts) receives grants from 20 organizations whose IRS filings report $16,086,363 to it, the largest being NATIONAL PHILANTHROPIC TRUST ($10,000,000). 9 of them have funded it in more than one year, and 65% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2024
- $14M
- Funders on record
- 20
- Grants received
- $16M
- Net assets
- $6.7M
What Fsg Inc does
Mission
Fsg is an international nonprofit social enterprise with a mission of accelerating the pace of social progress through philanthropic leadership. Fsg achieves its mission by providing strategy consulting, program evaluation, research and thought leadership to the nonprofit and philanthropic communities.
As stated on its FY2024 Form 990.
Programs
Collaboratives/collective impactfsg's 40+ projects that center collaboration and collective impact span many geographies. We worked on collective impact for workers and just transition collaboration in bangladesh, supported collaborative efforts for economic mobility in a major u.s. City, and developed a strategic plan for a collective impact focused national organization and funder. Additionally, we partnered with a us based national funder around a collaborative learning community that centers equity in the workplace.
$2,373,852 spent$1,977,900 earned by the program16% of program spendingUs health with nearly 20 us health focused projects, fsg's 2024 projects touched on multiple health issues in multiple states. We worked on several projects with foundations focused on collaborative approaches to mental and behavioral health in the midwest and mountain west. Other projects included mission measurement work with a national health organization and strategic planning for health-focused corporate foundations.
$3,032,031 spent$2,526,296 earned by the program21% of program spendingEconomic mobility global developmentfsg worked on over 25 projects with an economic mobility focus in 2024. We conducted research on worker experiences, unreached employees, and the effects of ai on retail and opportunity employment. Fsg led action labs for employers to help them learn from each other and pilot new approaches to hiring and supporting entry-level employees. We engaged with both companies and foundations in place-based work focused on improving economic mobility of communities in several cities within the us and canada, and engaged with global companies around philanthropic work supporting just transition.
$3,032,126 spent$2,526,375 earned by the program21% of program spendingFsg completed numerous customized consulting projects, learning communities, and innovative field-building activities, as we worked to fulfill our mission to create a world where everyone can live up to their full potential. As part of our field-building activities, fsg and its learning communities (the collective impact forum and talent rewire) hosted numerous virtual and in-person events (webinars, conferences, convenings) for social impact practitioners, funders, and business leaders on a variety of topics. We also developed and published new research and tools on how to address social problems and evaluate social impact, which we make available for free on our websites as pdfs, podcasts, and videos. Our consulting projects strengthened social impact strategies and learning opportunities across sectors.
$6,123,142 spent$5,093,339 earned by the program42% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $14,561,151.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $25M to $14M (−45%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2021 6% · 2022 9%. Grants only. Government contracts and fees sit inside program revenue.
13% of FSG INC’s revenue is contributions — about as donation-reliant as the typical peer (61% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 4 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Board chair
Mark Kramer
Board chair
As listed on its FY2024 Form 990.
Who funds it, year by year
2017 → 2023: the base narrowed from 7 funders to 4 funders, grant income fell $931k → $326k.
8 of 20 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 65% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of FSG INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
FSG INC leans on a few funders — its largest provides 62% of grant income and the top three 82%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
100% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund FSG INC.
Largest funder’s share by year: 2017 54% · 2018 48% · 2019 55% · 2020 46% · 2021 100% · 2022 100% · 2023 51% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
20% of FSG INC's funders are still giving 3 years after their first grant; 45% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
65% of FSG INC's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $5.6M that is directly attributable, 68% of it comes from funders outside Massachusetts, across 9 states.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $11M arriving through sponsors registered in 8 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
FSG INC is better cushioned than half of the 659 community improvement nonprofits its size.
this organization peer median middle 50% of peers· 659 community improvement nonprofits $10M–$100M, FY2024
Organizations like FSG INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
85% of spending goes to programs.
Governance
Public support
52%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 4 states
Part of a family of 1 related entity
- Fsg Advisory Services Pvt Ltd · corp_trust
Screen this organization
A dated, signed PDF of the compliance screen for FSG INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds FSG INC?
- FSG INC (Massachusetts) receives grants from 20 organizations whose IRS filings report $16,086,363 to it, the largest being NATIONAL PHILANTHROPIC TRUST ($10,000,000). 9 of them have funded it in more than one year, and 65% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does FSG INC have?
- IRS filings report 20 organizations giving $16,086,363 in grants to FSG INC, 9 of which have funded it in more than one year.
- Who is the largest funder of FSG INC?
- NATIONAL PHILANTHROPIC TRUST is the largest funder on record, with $10,000,000 in grants. The full list of funders is on this page.
- How can an organization like FSG INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 20 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing