FSG Inc

Analysis

FSG Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, FSG Inc reported income of $15.3m and spending of $21.8m, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $22.7m to $15.3m (-32%), an average of -9.3% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, FSG Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Electrical Local No 26 Joint Apprenticeship & Training TR Fund ($15.3m), First Resources Corp ($15.4m) and Heartland Forward ($15.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $1.6m (7.3% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $13.6m against liabilities of $3.9m, net assets of $9.7m. It reported 88 employees.