Fund Evaluation Group, Llc
SEC-registered
Endowment & Foundation Advisor · Large ($10B–$100B)
CRD 121658
· SEC file 801-61324
· Cincinnati, OH
· WWW.LINKEDIN.COM
☆ Save with Pro
ADV data as of Mar 31, 2026
- Regulatory AUM
- $23.9B
- Discretionary
- $16.0B
- Clients
- 214
- Avg AUM / client
- $111M
- Accounts
- 218
- Employees
- 136
AUM over time
$1.8B
$23.9B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Asset allocation (SMA assets by investment type)
as of Mar 31, 2026
Pooled investment vehicles
$8.4B
35%
Registered investment companies (funds/ETFs)
$7.9B
33%
Exchange-traded equities
$5.2B
22%
Cash & equivalents
$1.2B
5%
US government & agency bonds
$716M
3%
Investment-grade corporate bonds
$477M
2%
Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 30 | $8.3M | 0.03% |
| High net worth individuals | 15 | $163M | 0.68% |
| Pension and profit sharing plans | Fewer than 5 clients | $65.7M | 0.28% |
| Charitable organizations | 164 | $19.3B | 80.9% |
| State or municipal government entities | 5 | $154M | 0.65% |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 clients | $4.1B | 17.4% |
| Corporations and other businesses | Fewer than 5 clients | $35.5M | 0.15% |
Nonprofit clients
Charities that reported this firm as a top-paid contractor (investment services) on Form 990.
| Charity | Location | Period |
|---|---|---|
| Northern Illinois University Foundation EIN 366086819 | Dekalb, IL | 06/30/2025 |
| Unidel Foundation Inc EIN 516015046 | Greenville, DE | 12/31/2024 |
| W E Upjohn Unemployment Trustee Corporation EIN 381360419 | Kalamazoo, MI | 12/31/2024 |
| Interact For Health EIN 310932681 | Cincinnati, OH | 12/31/2024 |
| Quad Cities Community Foundation EIN 426122716 | Bettendorf, IA | 12/31/2024 |
| Southwestern Medical Foundation EIN 750945939 | Dallas, TX | 12/31/2024 |
| Fremont Area Community Foundation EIN 381443367 | Fremont, MI | 12/31/2024 |
| University Of Arizona Foundation EIN 866050388 | Tucson, AZ | 06/30/2024 |
| Ohio University Foundation EIN 316402269 | Athens, OH | 06/30/2024 |
| Georgia Southern University Foundation Inc EIN 586034031 | Statesboro, GA | 06/30/2024 |
| Community Foundation Of Abilene EIN 752045832 | Abilene, TX | 06/30/2024 |
| Pittsburg State University Foundation Inc EIN 486104332 | Pittsburg, KS | 06/30/2024 |
| Olivet Nazarene University Foundation EIN 237063419 | Bourbonnais, IL | 06/30/2024 |
| Frontier Nursing Service Inc EIN 611124266 | Versailles, KY | 04/30/2024 |
| Broward College Foundation Inc EIN 237181959 | Fort Lauderdale, FL | 12/31/2023 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Mccormick 401(k) Retirement Plan Mccormick & Company, Inc. | 2024 | |
| Cintas Partners' Plan Cintas Corporation | 2024 | |
| Cintas Corporation (G&K Services) Pension Plan Cintas Corporation | 2024 | |
| Mike Albert Leasing, Inc. Retirement Savings Plan Mike Albert Leasing, Inc. | 2024 | |
| Star Cutter Company & Subsidiaries 401(k) Plan Star Cutter Co. | 2024 | |
| Uc Health Retirement Plan Uc Health, Llc | 2024 | |
| G & J Pepsi Cola Bottlers, Inc. Employees' Pension Plan G & J Pepsi Cola Bottlers, Inc. | 2024 | |
| Composition Roofers Local 42 Pension Plan Composition Roofers Local 42 Pension Plan | 2024 |
People (16)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Fasig, Susan, Elizabeth | Director & Head Of Private Capital | Sep 2005 (21y) | Less than 5% | |
| Price, Gary, Richard | Director & Managing Director Of Institutional Services | Sep 2005 (21y) | Less than 5% | |
| Stonecipher, Michael, Curtis | Director | Sep 2005 (21y) | Less than 5% | |
| Bean, Nolan, Michael | Director, Chief Investment Officer & Head Of Portfolio Management | Oct 2011 (15y) | Less than 5% | |
| Labmeier, John, Francis | General Counsel & Secretary | Jan 2012 (15y) | Less than 5% | |
| Thomas, Julie, Trondle | Chief Compliance Officer | Nov 2015 (11y) | Less than 5% | |
| Herrema, Donald, James | Independent Director | Sep 2017 (9y) | Less than 5% | |
| Stephen Henry Hopkins | Independent Director | Sep 2017 (9y) | Less than 5% | |
| Jennings, Robert, Daniel | Chief Operating Officer | Jan 2018 (9y) | Less than 5% | |
| Tremoulis, Gianna, B. | Assistant Secretary | Nov 2020 (6y) | Less than 5% | |
| Krebs, Kurt | Chief Financial Officer & Treasurer | Oct 2022 (4y) | Less than 5% | |
| Goslee, William, George | Director, President | Jan 2024 (3y) | Less than 5% | |
| Lenahan, James, Alan | Director, Chief Executive Officer | Jan 2024 (3y) | Less than 5% | |
| Wood, Rebecca, Sue | Non Executive Chair | Jan 2024 (3y) | Less than 5% | |
| Peter Raymond Salvator | Registered representative | Jul 2014 (12y) | ||
| Alan L Bergin | Registered representative | CFA | Feb 2017 (9y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Fund Evaluation Group 2017, Inc. | Holding Company For Fund Evaluation Group, Llc. | Sep 2017 | A | 75% or more |
| Fund Evaluation Group Employee Stock Ownership Trust | This Trust Owns 100% Of Fund Evaluation Group 2017, Inc. | Sep 2017 | B | ≈ 56.25% – 100% via Fund Evaluation Group 2017, Inc. |
| Argent Trust Company | Argent Is The Trustee Of Fund Evaluation Group Employee Stock Ownership Trust | Sep 2017 | B | GP / trustee / elected manager of Fund Evaluation Group Employee Stock Ownership Trust (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Fund Evaluation Group Employee Stock Ownership Trust: 75% – 100% of Fund Evaluation Group 2017, Inc. × 75% – 100% direct ≈ 56.25% – 100% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (8)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Mccormick 401(k) Retirement Plan | Mccormick & Company, Inc. | 4,796 | $968M | 01/01/2024 |
| Cintas Partners' Plan | Cintas Corporation | 47,026 | $4.1B | 01/01/2024 |
| Cintas Corporation (G&K Services) Pension Plan | Cintas Corporation | 577 | $52.8M | 01/01/2024 |
| Mike Albert Leasing, Inc. Retirement Savings Plan | Mike Albert Leasing, Inc. | 228 | $95.9M | 01/01/2024 |
| Star Cutter Company & Subsidiaries 401(k) Plan | Star Cutter Co. | 404 | $37.2M | 01/01/2024 |
| Uc Health Retirement Plan | Uc Health, Llc | 1,559 | $240M | 01/01/2024 |
| G & J Pepsi Cola Bottlers, Inc. Employees' Pension Plan | G & J Pepsi Cola Bottlers, Inc. | 1,504 | $94.7M | 01/01/2024 |
| Composition Roofers Local 42 Pension Plan | Composition Roofers Local 42 Pension Plan | 139 | $61.2M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Foundations & charities (15)
| Organization | Type | Assets | As of |
|---|---|---|---|
| Northern Illinois University Foundation | Public charity | $235M | 06/30/2025 |
| Unidel Foundation Inc | Public charity | $485M | 12/31/2024 |
| W E Upjohn Unemployment Trustee Corporation | Public charity | $268M | 12/31/2024 |
| Interact For Health | Public charity | $263M | 12/31/2024 |
| Quad Cities Community Foundation | Public charity | $210M | 12/31/2024 |
| Southwestern Medical Foundation | Public charity | $1.3B | 12/31/2024 |
| Fremont Area Community Foundation | Public charity | $307M | 12/31/2024 |
| University Of Arizona Foundation | Public charity | $1.7B | 06/30/2024 |
| Ohio University Foundation | Public charity | $793M | 06/30/2024 |
| Georgia Southern University Foundation Inc | Public charity | $137M | 06/30/2024 |
| Community Foundation Of Abilene | Public charity | $204M | 06/30/2024 |
| Pittsburg State University Foundation Inc | Public charity | $132M | 06/30/2024 |
| Olivet Nazarene University Foundation | Public charity | $193M | 06/30/2024 |
| Frontier Nursing Service Inc | Public charity | $85.4M | 04/30/2024 |
| Broward College Foundation Inc | Public charity | $132M | 12/31/2023 |
From IRS Form 990 investment-management-fee disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 1.23 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
- • Performance-based fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
- • Other services
Custody
Reported custodians
- Charles Schwab & Co. $8.3B (35% of AUM) Mar 2026
- Northern Trust $3.8B (16% of AUM) Mar 2026
- Fidelity $962M (6% of AUM) Jul 2020
- State Street $870M (6% of AUM) Jul 2021
- Fidelity Brokerage Services $797M (5% of AUM) Jul 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗