At FJC, our mission is to amplify the power of philanthropy by supporting initiatives that spark innovation, foster resilience, and create lasting change in our communities. One of the ways we achieve this is through our Fiscal Sponsorship Program, which empowers emerging organizations to focus on their transformative missions while we handle the administrative and fiscal responsibilities of nonprofit management.

The Fiscal Sponsorship Program reflects our commitment to identifying and nurturing bold ideas that address pressing social and environmental challenges. By providing access to nonprofit status, funding pathways, and operational support, we help grassroots leaders accelerate their impact and connect with donors and supporters who share their vision.

Of the several new programs that joined our Fiscal Sponsorship Program in 2024, we are proud to spotlight three inspiring organizations. These organizations were chosen for their innovative approaches, community-driven missions, and their readiness to create real change. Each organization is managing active fundraising campaigns to support their work.

• Seaweed City is transforming New York Harbor with regenerative seaweed aquaculture, improving water quality, restoring marine habitats, and strengthening coastal resilience.
• Hallets Playground Alliance fosters wellness, connection, and inclusion by turning local parks in Queens into vibrant community spaces through free, family-friendly programming.
• CHInyc is pioneering a housing model that creates inclusive communities for neurodiverse adults, promoting independence, dignity, and meaningful social connections.

These initiatives represent the heart of what FJC’s Fiscal Sponsorship Program stands for: providing the tools and resources for innovative leaders to build solutions to the challenges they see in the world. Whether they are restoring the environment, revitalizing community spaces, or reimagining housing, these projects exemplify the power of grassroots innovation to create lasting impact.

We are thrilled to support these organizations as they fundraise and expand their programming, and we invite you to learn more about their work.

Seaweed City: Harnessing the Power of Kelp for a Healthier New York Harbor

As climate challenges continue to rise, Seaweed City is leading the way in innovative, nature-based solutions with its regenerative seaweed farms. Focused on revitalizing New York’s estuarial waters, Seaweed City uses kelp to clean water, create essential marine habitats, and buffer against coastal erosion. Kelp, often called “nature’s filter,” absorbs excess nutrients from the water and contributes to a healthier marine ecosystem.

The recent installation of Seaweed City’s kelp garden on Governors Island marks an exciting expansion. Open to the public, this living laboratory is a place for residents, students, scientists, and environmental advocates to connect with the marine environment and explore the many ecological benefits of seaweed. Seaweed City’s programs also create hands-on opportunities for community members, encouraging participation in environmental stewardship and raising awareness about the power of urban aquaculture. Through partnerships with community-based organizations, schools, and environmental groups, Seaweed City is building a movement that champions resilience and sustainability along New York’s waterfront.

“Thanks to FJC’s Fiscal Sponsorship Program, we are able to focus on expanding our kelp gardens and engaging communities in this vital work. Together, we’re building a healthier, more resilient waterfront for New York City.” – Shanjana Mahmud, Executive Director

Hallets Playground Alliance: Strengthening Community Through Wellness and Connection

The Hallets Playground Alliance is on a mission to create an inclusive, vibrant community space in the Hallets Point neighborhood, where families and neighbors can come together through health-centered events and social outdoor activities. Founded in April 2023 to address the need for accessible, organized community events, Hallets Playground Alliance has been making a mark by hosting free activities that support physical, mental, and social well-being.

This Fall, the alliance hosted its first Halloween Fair, a festive celebration that brought families together for a day of fun and community spirit. Beyond seasonal events, the group is committed to expanding its programming to foster stronger community ties and promote an active, healthy lifestyle. With plans to formalize as a nonprofit, Hallets Playground Alliance aims to sustain its grassroots efforts, providing free, enriching activities that transform playgrounds into platforms for wellness, leadership, and activism. Donors and community supporters can play a key role in helping Hallets Playground Alliance continue to grow and impact more lives in the neighborhood.

“Parks are for people—they are gathering places where people of all ages and backgrounds can connect, heal, and thrive. Hallets Playground Alliance is committed to making community spaces vibrant, inclusive, and accessible to everyone. With FJC’s support, we’re excited to expand our programming and bring even more enriching events to the families of Hallets Point. Together, we’re strengthening community bonds and creating lasting memories.” – Aiysha Mayfield, Executive Director

CHInyc: Building Inclusive, Supportive Housing for Neurodiverse Adults

CHInyc, or Collective for Housing Independence NYC, is developing an innovative housing model designed to create a meaningful community for neurodiverse adults and their neurotypical neighbors. Inspired by successful intentional housing models, CHInyc envisions a “micro-community” where residents with intellectual and developmental disabilities (I/DD) can live with autonomy and dignity while building genuine social connections.

The planned community will feature private apartments along with flexible common spaces for organic social interactions, helping to reduce the isolation that many people with disabilities experience. A unique aspect of this model is the “paid neighbor” program, in which neurotypical residents receive a small stipend to support and interact with their neurodiverse neighbors, fostering a supportive and inclusive environment. Currently in the initial phases of fundraising and coalition building, CHInyc is working with FJC to establish itself as a nonprofit and acquire real estate to bring this model to life.

This ambitious vision not only addresses a pressing need for supportive housing but also sets the stage for future inclusive communities across NYC. By supporting CHInyc, donors help create a lasting model for dignity, social integration, and independence. An anonymous donor will be matching up to $10,000 of donations made in support of CHInyc, so donating now will double your impact for the organization!

“We started CHInyc because we believe that everyone deserves a home and a community where they are valued. It’s not just about housing—it’s about creating a space for neurodiverse adults to live with dignity and build meaningful relationships. FJC’s support has been incredible, giving us the confidence to take these first steps and share this vision with the world.” – Carrie Peterson, Founder and Director

We would like to advise our donors of a few important deadlines:

Grant Recommendations & Distributions: December 18, 2024.  This is the deadline for this year’s grant recommendations!  We know that many of your favorite charities plan big year-end campaigns.  Please help us make these critical resources count for your nonprofit partner’s fiscal year by making your recommendations before this deadline.  

Please note that grant recommendations made after December 18 (5PM Eastern Standard Time) may be approved and processed early in 2025. 

Contributions: December 31, 2024.  For your giving to FJC to qualify for a 2024 tax deduction, we must receive your contributions by December 31. 

• Electronic transfer recommended.  We recommend that cash contributions are sent by credit card, ACH, or wire transfer and received by FJC by December 31. (Please note that ACH transfers can take up to 5 business days to settle, so please plan accordingly). Using electronic payments ensures the most efficient crediting of your account. Please contact FJC for instructions. 

• Contributions by check.  If you make contributions to your account by check, please note that checks that are sent via U.S. mail must be postmarked by December 31 to qualify as a 2024 tax deduction. Deliveries by other means (such as FedEx, DHL or others) must be received by December 31, regardless of shipping date.  

• Does your financial institution issue checks in bulk? Please note that if you are using your financial institution’s online bill-pay module, certain financial institutions that rely on bulk check processing will arrive at FJC without a postmark.  We recommend executing these payments ASAP, because checks without a postmark must be received by December 31 to count to qualify as a 2024 tax deduction.

• Contributions of securities and mutual fund shares. These should be made as soon as possible and received by FJC by December 31.  Please notify us in advance of the transfer so we can promptly credit your fund. 

• Contributions of other assets.  Real estate, restricted securities or privately held stock can be made, but require longer lead times, so let us know ASAP.

Questions?  Contact as at fjc@fjc.org. 

Join us in celebrating our CEO Sam Marks for being included in a special issue of Foundation Review featuring the most well-received articles in the journal’s 15-year history.

The Foundation Review, published by the Dorothy A. Johnson Center for Philanthropy, has served as a platform for authors to share expertise and insights and contribute to the collective knowledge base in philanthropy since its launch in 2009. To date, articles have been downloaded nearly 600,000 times by readers from more than 14,000 institutions around the world. Authors representing more than 450 universities, foundations, nonprofit organizations, consulting and research firms, and public organizations and institutions have contributed to the journal.

As part of its 15-year anniversary, Foundation Review has published a special issue — free for all to download and explore — presenting the most well-received articles in the journal’s history, each with author commentary in newly written prologues.

Sam’s 2022 article, Donor-Advised Funds and Impact Investing: A Practitioner’s View, argues that any discussion of foundations embracing impact investing must include some discussion of one of the largest — and growing — sources of philanthropic capital: donor-advised funds. This article takes a practitioner’s view on the issue, reflecting on lessons learned by a sponsor of donor-advised funds that has long accommodated the impact investing interests of its donors.

In addition to writing new prologues, authors were invited to submit an introductory video reflecting on the impact of their articles.  View Sam’s video here.  A transcript is below.

Sam Marks here. I’m the Chief Executive Officer of FJC, a foundation of philanthropic funds. I’m in my fifth year here. We are primarily a sponsor of donor-advised funds. We also fiscally sponsor about 160 organizations and act as a financial intermediary, helping imaginative donors make impact investments with capital in their DAF accounts. I’ve been a nonprofit guy—sometimes a grant seeker, sometimes a grant maker—working at the intersection of the nonprofit sector and finance.

In my 30-year career, I’ve worked in youth development, affordable housing development, and impact investing at a CDFI before coming to FJC. I’d say it’s about one-third career in philanthropy, two-thirds as a practitioner. I was really honored to have my abstract accepted by The Foundation Review. Having the article peer-reviewed and published is very validating; it really underscores that we’re on to something.

FJC has been working at the intersection of donor-advised funds and impact investing for nearly 30 years, and when I started as CEO in 2019, it was clear there were cool things happening here, but it was a bit of a best-kept secret. It was time to export our practices and inspire others to invest the funds in their DAF accounts in ways that support nonprofits. A lot of it has been about trying to change attitudes and values, letting people know what’s possible, and shifting minds. That means providing thought leadership. Most foundation investment committees have conservative approaches to investing; they invest for market returns, grow their endowment, and give more money away the next year. But what if funds at foundations could be invested to advance mission work and help nonprofits advance their missions?

It’s been really exciting to see that there’s an audience out there that wants to dig into this, do some deep dives, and look at case studies. I really appreciate The Foundation Review. There’s a tendency for foundations to think transactionally, but for us to step back, think big picture, and see patterns is really important. It’s still early days for our article—it’s only been available for several months—so the causal relationships of change in the world may be beyond the powers of some of the folks on this call who are experts on that. But I can say we’ve had a lot of inbound interest about building on some of the case studies we wrote about in the piece.

We had a foundation come to us with a million dollars and open a donor-advised fund to capitalize a low-interest revolving loan fund for one of their favorite youth-serving organizations in New York City. A corporate foundation is preparing to make a million-dollar loan to FJC so we can on-lend it to a series of affordable housing developers, who would then match funds with some donor capital. A couple of our nonprofit borrowers, who’ve borrowed from FJC at a market rate of interest, are interested in working with us to create a pooled fund that would serve their whole sector of legal defender organizations at a below-market rate of interest. We are seeing these green shoots of practitioners and people thinking about this stuff.

I do worry sometimes that we’re preaching to the choir to some degree, because the folks I’d really like to be reading this article are investment committees of foundations and people who work on Wall Street—those who have access to way more resources and might think more creatively about them if they knew what was possible. One of the interesting lanes I’m trying to open is around working with nonprofit boards that may have some resources around the table and some financial sophistication. Instead of centering on donor preference for how philanthropic resources can be put to work, we should center on what nonprofits need, their gaps in their business models, and how they could benefit from building up their balance sheets—not just having grants that help them operate in the black for the year, but investments that build up the financial capacity of the organizations.

These are the kinds of conversations I’m hoping this article can help advance.

We invite you to explore the whole special issue of Foundation Review.

“These articles continue to resonate today because of their provocative, relevant insights that foster discussions and influence philanthropic practices,” said Dr. Hanh Cao Yu,  Editor-in-Chief of Special Issues. “Each of them provokes opportunities to continue addressing the issues facing philanthropy today.”

FJC Donor Sandra Hughes Waddell wrote this guest essay for our blog, describing how Donor Advised Fund accounts are helping her family sustain the legacy of their ancestor Charles Evans Hughes. The piece is a part of our “Why I Give…and How” blog series.

Every family has traditions and values passed down from generation to generation. For our family, it’s a passion for racial and social justice. We grew up hearing stories about my grandmother Catherine Hughes Waddell, a relentless advocate for racial equality who left her mark through her work at organizations such as the NAACP Legal Defense and Educational Fund and the United Negro College Fund. My grandfather Chauncey Waddell shared Catherine’s passion for this work, and together they created an enduring and impactful legacy of philanthropy.

The Charles Evans Hughes Memorial Foundation was founded by my grandparents and named in honor of Catherine’s father (our great-grandfather), a former Chief Justice of the United States Supreme Court, U.S. Secretary of State, Governor of the State of New York and a steadfast advocate for equal justice under law. For over 60 years, the Hughes Foundation was at the heart of our family’s philanthropic endeavors, with programs focusing on legal and human rights; environment, population and health; education; and arts and culture. It was a cherished and impactful institution that helped to guide my own personal journey as a philanthropist.

I vividly remember, as a young child, my parents started me on a small allowance, of which I was to set aside 10% for charity. At the end of the year, my parents would match what I’d saved, and I was to write to my selected organizations, explaining why I had chosen them. Those first gifts were to the organizations where my grandmother Catherine had worked. It was a wonderful way to set me on the path toward my own philanthropy. More than that, I have been forever grateful to have been raised in a family for whom racial justice is a deeply abiding value.

As I grew older, I began to understand that philanthropy wasn’t just about donating money, but also about doing the work to understand the complexities of the issues you’re trying to address. Experience has taught me that effective philanthropy calls for actively listening to and learning from those in the organizations and communities you seek to serve, building relationships and fostering partnerships, and providing funding that best propels change, builds the capacity and resources of your grantees and creates sustainable impact.

In essence, for me, philanthropy is not a financial exercise, it’s an intellectual, emotional and deeply-rooted personal commitment. Building on my grandmother’s vision, and serving on the Foundation she and my grandfather created, has been both a privilege and a responsibility. Yet, in recent years, the private foundation landscape has shifted. The administrative and compliance demands are complex and resource-consuming, putting small family foundations like ours in a challenging position. These obligations can threaten to overshadow the charitable mission that should be the driving force of any philanthropic venture. What’s more, as our family’s involvement in the Hughes Foundation evolved over the generations, it became clear that the governance structure of a family foundation was becoming unwieldy, and our philanthropy could benefit from added flexibility.

This is where Donor Advised Funds (DAFs) come into play. DAFs have been rising in popularity. As a philanthropist familiar with the workload of running a foundation, I’m not surprised. DAFs offer a valuable alternative, empowering philanthropists to shed administrative burdens while continuing to channel their energy and resources toward causes that matter. By moving to individual DAF accounts, we realized we would be able to devote our attention to identifying and building relationships with grantees making the most impact. We believe that is the heart and soul of philanthropy, and, what’s more, true to the vision of our family.

After much thoughtful consideration, the four remaining trustees decided to dissolve the Foundation and continue our cherished philanthropic mission through new DAF accounts with FJC, a boutique sponsor. It had been weighty and even emotional for some of us, thinking about winding down the good work of a distinguished 60-year family Foundation, but being introduced to FJC really brightened our sense of what the next phase of giving could look like. We found that, unlike larger institutions, boutique organizations like FJC offer flexibility, accommodating unique agreements, handling unusual assets and developing bespoke charitable programs. In our case, we found that even as we moved philanthropic assets from the Foundation to our DAF accounts, we could maintain our investment advisory relationship with the Foundation’s long-time funds manager. Our partnership with FJC has allowed us not only to preserve the legacy of the Hughes Foundation but also to reanimate that legacy, enabling us to further invest in the causes and institutions that matter deeply to us. Finding the right partner is, in itself, transformative. We’re grateful to work with a team that understands the philosophy of our giving.

This transition feels like a new chapter in our family’s philanthropic journey – an evolution rather than an ending. Our new approach offers a vibrant, exciting future where we continue to honor the spirit of our forebears, focused on our impact and not on overhead. This is not just about preserving a philanthropic legacy but about propelling it forward. Freed from the confines of private foundation governance, our family members now have additional flexibility to further the mission of the Hughes Foundation, each in our own way. The Hughes Foundation may have evolved, but its spirit, mission and commitment to social justice will continue to guide the path forward.

Reflecting on the journey that brought us here, I am reminded of the young girl who first learned the joy and importance of giving and who, all these decades later, remains steeped in gratitude – to her forebears, for their wisdom and vision in creating an enduring and impactful legacy of philanthropy, and even more so, to the many charitable organizations and projects that inspire us and whose important missions and work we are honored to support.

Special thanks from FJC to Lauren Katzowitz Shenfield, Principal of Philanthropy Advisors, for providing the strategic guidance to the Trustees of the former Charles Evans Hughes Memorial Foundation that led to this exciting, new partnership.

NYN Media’s Phenix Kim recently interviewed Sam Marks, CEO of FJC, about uses of Donor Advised Funds that center the unique business development needs of nonprofit organizations.  An excerpt is below:

Phenix Kim, NYN Media: One of the things you stressed was a shift in mindset regarding philanthropy, from something reactive to something more long-term, strategically. Would you mind elaborating on this?  

Sam Marks, FJC: A lot of nonprofits and nonprofit board members come to me for advice about fundraising. Many of them are encouraging their board members to go out and fundraise for the organization, [such as] end of the year campaigns or Giving Tuesday. And I think nonprofits often can get donations from the social circles [of board members] who will give to a nonprofit because they want to support their friend. I think the bigger challenge for nonprofits is to find the ways to engage potential funders in ways that hook them into an organization for the long-term, and get a donor to really fall in love with the organization and its mission and its impact. And that can sometimes take a long time. But those [donors] that do really fall for an organization and get to know the leadership, can be some of the most valuable long-term stakeholders for an organization and pull others into the nonprofit’s orbit. Particularly for the nonprofits that rely a lot on city funding, those payments are delayed and the city’s facing budget cuts. And it’s important for them to have other sources of funding that are more flexible and longer term to help them invest in the organization’s long-term sustainability infrastructure.

The profile notes that FJC continues to grow in philanthropic accounts and assets, even as its donors have increased their distributions of grants to nonprofits.  The interview also mentions examples of innovative uses of funds in DAFs, including donors using funds in their accounts to capitalize low-interest revolving lines of credit. Read the whole interview here.

We wanted to advise you of a few important deadlines:

Grant Recommendations & Distributions: December 15, 2023.  This is the deadline for this year’s grant recommendations!  We know that many of your favorite charities plan big year-end campaigns.  Please help us make these critical resources count for your nonprofit partner’s fiscal year by making your recommendations before this deadline.  

Please note that grant recommendations made after December 15 (5PM Eastern Standard Time) may be approved and processed early in 2024. 

Contributions: December 31, 2023.  For your giving to FJC to qualify for a 2023 tax deduction, we must receive your contributions by December 31. Please note that December 31 falls on a Sunday this year, so in some cases we will need to modify our standard practices.

• Electronic transfer recommended.  We recommend that cash contributions are sent by credit card, ACH, or wire transfer and received by FJC by December 31. (Please note that ACH transfers can take up to 5 business days to settle, so please plan accordingly). Using electronic payments ensures the most efficient crediting of your account. Please contact FJC for instructions. 
• Contributions by check.  If you make contributions to your account by check, please note that checks that are sent via U.S. mail must be postmarked by December 31 to qualify as a 2023 tax deduction. Please note that due to the 31^st falling on a Sunday, deliveries by other means (such as FedEx, DHL or others) must be received by Friday, December 29. 
• Does your financial institution issue checks in bulk? Please note that if you are using your financial institution’s online bill-pay module, certain financial institutions that rely on bulk check processing will arrive at FJC without a postmark.  We recommend executing these payments ASAP, because checks without a postmark must be received by Friday, December 29 to count to qualify as a 2023 tax deduction.

Please make note of our office address:

• Contributions of securities and mutual fund shares. These should be made as soon as possible and received by FJC by Friday, December 29. (Please note that the 31^st is a Sunday, and markets will be closed over the weekend). Please notify us in advance of the transfer so we can promptly credit your fund. 
• Contributions of other assets.  Real estate, restricted securities or privately held stock can be made, but require long lead times, so let us know ASAP.

Questions?  Contact as at fjc@fjc.org. 

Earlier in November, FJC’s CEO Sam Marks was a guest on Get Connected with Nina Del Rio, New York City’s 106.7 Lite FM’s weekly talk show featuring NYC’s influencers, experts, and vibrant non-profits.

Del Rio interviewed Marks about his background and the world of Donor Advised Funds, as well as the creative ways that FJC puts philanthropic resources to work. 

He spoke about FJC’s Agency Loan Fund, an impact investment vehicle that allows donors to invest some or all of their accounts in a pool of loans to nonprofits, so that funds are actively supporting nonprofits even before they are disbursed as grants. He cited capital grants and contract receivables as payments FJC’s loans typically bridge. “We do a lot financial intermediation, during these timing gaps for nonprofits,” said Marks.

He also spoke about innovative transactions with nonprofits like The Fortune Society and the Tenement Museum. 

From the interview:

People typically think, my philanthropy is to make grants to help an organization hit their goals to operate in the black for the year. But you could also use philanthropic dollars to help organizations be more entrepreneurial and take on more exciting projects that will help them grow and expand their services.

The nonprofits we work with understand the challenges that their businesses face, whether it’s cash flow issues because of late payments or a dearth of capital to take on new, exciting projects.  The nonprofits really know where their gaps are.  The challenge for us is finding donors with the imagination to put their philanthropic dollars to work to fill those gaps. If we could get more of our donors to think about, while the dollars are with us, how they could be invested for the benefit of nonprofits, we could really help nonprofits worry less about where their next dollars are coming from. We could go to the heart of what makes these nonprofit businesses challenging.

You can listen to the whole interview at this link.

A reflection by our outgoing Chief Legal Officer, Mark Cohen.

At the end of this year, I will retire from my role as FJC’s Chief Legal Officer, a position that has been the defining role of my 47-year legal career.  I am well aware it’s no longer quite in fashion to spend one’s career at one company or organization.  Young people in particular move around a lot.  I may have stayed in one place, but because the job has been so interesting, varied, and challenging, I’ve never stood still.

I never expected to be the chief lawyer of a nonprofit, much less a foundation of donor advised funds.  In 1977, shortly after I graduated from law school and had spent a year in a judicial clerkship, I landed a somewhat conventional corporate legal job at a company providing back-office services to Wall Street securities firms and government agencies. By 1984, that company started to have problems and eventually folded, and by happenstance I mentioned my plan to start looking for a new job with an old law school friend whose family became one of the founding donors that started FJC.  Those founders offered me a job as an attorney in their commercial business in 1985.  After FJC was formed in 1995, they began to invite me to FJC Board Meetings on a purely volunteer basis, where I dutifully took minutes and prepared resolutions.  As my role with FJC evolved and deepened, one of the Board Members, a lawyer, noticed how much work I was doing and said, “You know, we should probably put Mark on the payroll, so the organization’s books reflect his time and effort.”  And so in 2000, my formal role with FJC began.

From these modest and rather accidental beginnings, I could not have imagined how creative and all-encompassing my work with FJC would become, enough to fill a career. 

From its early days, FJC was focused on innovative uses of philanthropic dollars, particularly investing donor funds in loans to nonprofits.  Early on we provided bridge loans to nonprofits that were building group homes for adults with development disabilities.  Following the expose by Geraldo Rivera about the notorious Willowbrook facility on Staten Island, New York State began shutting down large warehouse institutions with the intention of opening up smaller and more humane group homes that were better integrated into their communities.  The challenge for our nonprofit partners was that capital funding from the state agency was only available on a reimbursement basis.  The nonprofits essentially had to spend the money before they had it.  These were some of the first bridge loans we made from our Agency Loan Fund, and we were able to facilitate dozens of new group homes.

I remember when FJC started the Agency Loan Fund, we required our donors to invest 10% of their account holdings in the loan pool. After all, we had no track record, and we weren’t sure they would invest their funds willingly.  But after we began to have solid performance on our loan portfolio and the benefits to the nonprofit community became evident, it became a popular and unique offering, something that set us apart from some of the “plain vanilla” although sometimes larger DAF sponsors. I believed that those other DAF sponsors were more often interested in keeping their clients’ money captive than in benefiting the nonprofit community, which was one of FJC’s major reasons for existence. 

In many respects working on the loan program was like working for a bank lending department.  I had never done that.  I began to feel like I was in a batter’s box with a pitching machine.  The balls kept coming.  We made loans to nonprofit theaters, museums, social service agencies, charter schools, and a lot of public television and radio stations. At last count, we have made over 350 loans  of more than $370,000,000 to a wide variety of nonprofit organizations in furtherance of their missions. Donors began coming to us with their own ideas about nonprofits they wanted to finance with their DAF accounts, whether it was for bail funds, clean energy, or—just recently—refinancing the bonds used to finance the Lower East Side Tenement Museum. When some donors wanted us to make loans to organizations that couldn’t meet our credit standards, we came up with the customized loan program to allow donors to recommend the terms of the loans and treat them as investments in their DAFs. 

Our fiscal sponsorship program has also really been a model of innovation. I can’t count the number of organizations that we fostered that went on to become nonprofits in their own right. Hopefully that spirit of innovation and expectation of trying to help the nonprofit community will continue.

Working in the nonprofit sector, I’ve always been somewhat amazed and enamored of the fact that there are so many people who are truly devoted to enriching the lives of the underprivileged and underserved.  Most people I work with have worked so hard and so long.  Like me, many have been in their positions for decades.  I’m fairly certain they could have made a lot more money in the private sector, but they are truly committed to their organizations and the communities they serve.  Because of that, it’s always been a pleasure to see if we could help them along with their missions.

After so many years at FJC it’s hard to imagine being out of the day-to-day decision-making of the organization.  It’s a tough personal choice to retire, but my wife and I want to devote more time to our grandchildren, and we want to travel more. But I’d love to stay involved.  Otherwise, I’ll miss the thought-provoking part of the job I love the most: trying to come up with new solutions to new problems, to help nonprofit practitioners get the work done.  That has always been a great pleasure, and the highlight of my career.

Join FJC in congratulating CEO Sam Marks for his inclusion in City & State New York’s 2023 Nonprofit Power 100 list.   The list, a collaboration between City & State and NYN Media, recognizes the most notable nonprofit leaders who are strengthening the safety net and serving the most vulnerable individuals in New York.

Marks “has established himself as a leader in the world of donor-advised funds,” according to the article, which also singled out the Fortune Society fund and the Boss Up initiative as specific examples of innovative programming.

View the entire 2023 Nonprofit 100 Power List here.

FJC – A Foundation of Philanthropic Funds (FJC), a boutique sponsor of Donor Advised Funds and other philanthropic accounts, announced today that it has named Hillary S. Zilz as Chief Legal Officer.  Ms. Zilz becomes the second person to hold that role in the organization’s nearly thirty-year history, succeeding longtime Chief Legal Officer Mark Cohen, who will remain in a senior advisory role at FJC through the end of 2023 to assist with the transition.

Ms. Zilz brings over 25 years of accomplished legal experience to the role, with a particular focus advising nonprofits of all sizes on transactional, governance, and strategic matters. Most recently Ms. Zilz was a Partner at the firm Schlam Stone & Dolan, where her clients included not-for-profit enterprises focused on housing, social services, arts, and education, as well as entrepreneurs, and family offices.  Prior to her tenure at Schlam, she acted as General Counsel for private companies and a litigator at the firms Gibson, Dunn & Crutcher and Cravath, Swaine & Moore.

Ms. Zilz earned her bachelor’s degree and master’s degree at McGill University and her J.D. at Harvard Law School. She is a member of the Non-Profit Organizations Committee of the New York City Bar and on the Economic Justice Committee of the National Council of Jewish Women.

In her new role, Ms. Zilz will serve as a member of FJC’s senior leadership team and participate in strategic, management and policy decisions affecting the company’s operations and development.  Among her responsibilities, Ms. Zilz will provide credit review and prepare loan documentation for loans originated through FJC’s Agency Loan Fund, an impact investing vehicle that invests DAF account holdings in bridge loans to nonprofits.

“FJC takes a business-minded and entrepreneurial approach to making social impact,” says Ms. Zilz. “The breadth of activities that go on here is so impressive—from grantmaking, to impact investing, fiscal sponsorship of new nonprofit initiatives. I’m excited to work with the team to continue the organization’s growth and evolution.”

“A creative organizational culture like FJC’s requires a keen legal mind, and we’ve found that in Hillary,” says Sam Marks, FJC’s Chief Executive Officer. “Her experience as outside general counsel for a wide range of nonprofits will be critical as we take on partnerships of increasing scope and complexity.”