Social Finance Inc
- Assets
- $96.0m
- Revenue
- $81.7m
- Investments
- $0.0
- Employees
- 109
- Location
- Boston, MA
- Founding
- 02/2012
- Data as of
- 12/2021
- EIN
- 27-4620963
Organization Overview
Social Finance Inc is located in Boston, MA. The organization was established in 2012. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 12/2021, Social Finance Inc employed 109 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Social Finance Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Social Finance Inc generated $81.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 52.8% each year . All expenses for the organization totaled $18.4m during the year ending 12/2021. While expenses have increased by 22.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Social Finance Inc has awarded 29 individual grants totaling $3,935,712. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL FINANCE IS A NATIONAL IMPACT FINANCE AND ADVISORY NONPROFIT. WE WORK WITH PUBLIC, PRIVATE, AND SOCIAL SECTORS TO CREATE PARTNERSHIPS AND (CONTINUED ON SCHEDULE O.)
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPACTING INVESTING SERVICES- SEE SCHEDULE O
IMPACT ADVISORY SERVICES - THROUGH THE IMPACT ADVISORY SERVICES, SFI WORKS ALONGSIDE IMPACT-FOCUSED LEADERS TO IMPLEMENT DATA-DRIVEN PRACTICES THAT DELIVER BETTER OUTCOMES. SFI PARTNERS WITH GOVERNMENTS, FOUNDATIONS, AND SERVICE PROVIDERS TO TACKLE SOCIAL CHALLENGES WITH A FOCUS ON DATA-DRIVEN, OUTCOMES BASED STRATEGIES. SFI IDENTIFIES BEST-IN-CLASS INTERVENTIONS, PERFORMS RIGOROUS ANALYSES, BUILDS ECONOMIC MODELS, AND DEVELOPS CUSTOMIZED CLIENT-CENTRIC SOLUTIONS TO DRIVE MEANINGFUL, MEASURABLE RESULTS FOR COMMUNITIES IN NEED. ADVISORY WORK TO DATE HAS INCLUDED LANDSCAPE ANALYSES, FEASIBILITY STUDIES, PERFORMANCE MANAGEMENT SERVICES, AND OUTCOMES RATE CARDS.
MARKET EDUCATION - SFI WORKS TO BUILD THE PFS FIELD THROUGH RESEARCH AND PUBLICATIONS THAT SYNTHESIZE SFI'S LEARNINGS IN ITS IMPACT INVESTMENT AND ADVISORY WORK. THROUGH KEY MARKET EDUCATION EFFORTS, INCLUDING WHITE PAPERS, OP-EDS AND BLOG POSTS, SPEAKING OPPORTUNITIES, AND MEDIA ENGAGEMENTS, SFI CONTRIBUTES TO THE ADVANCEMENT OF EVIDENCE-BASED POLICY, EFFECTIVE PHILANTHROPY, AND IMPACT INVESTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Palandjian CEO & Co-Founder | OfficerTrustee | 40 | $351,092 |
Jeffrey N Shumway Managing Director | Officer | 40 | $219,915 |
Navjeet K Bal Managing Dir & General Counsel | Officer | 40 | $211,816 |
Jacob Segal Vp, Impact Advisory | 40 | $191,614 | |
Andrew C Chen Vp, Impact Investments | 40 | $183,912 | |
Jacqueline Khor Liu Vp, Impact Investments | 40 | $182,383 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jewish Vocational Services Inc Ma Pathways Project | 12/30/21 | $393,146 |
Interface Family Children Service Ventura Project Fee | 12/30/21 | $155,779 |
General Assembly Space Inc Cib Project Fee | 12/30/21 | $525,000 |
Tuscaloosa Va Medicalcenter Vetscare Project Fee | 12/30/21 | $119,107 |
Tuscaloosa Research Education Adv Vetscare Project Fee | 12/30/21 | $624,872 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $831,955 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,526,398 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,358,353 |
| Total Program Service Revenue | $7,251,400 |
| Investment income | $36,973 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,693,226 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,210,750 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $542,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $874,445 |
| Compensation of current officers, directors, key employees. | $198,849 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,943,205 |
| Pension plan accruals and contributions | $186,433 |
| Other employee benefits | $969,825 |
| Payroll taxes | $690,928 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $206,419 |
| Fees for services: Accounting | $209,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,675,453 |
| Advertising and promotion | $128,977 |
| Office expenses | $260,006 |
| Information technology | $315,332 |
| Royalties | $0 |
| Occupancy | $491,694 |
| Travel | $83,361 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $456,011 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,372 |
| Insurance | $48,032 |
| All other expenses | $0 |
| Total functional expenses | $18,374,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,013,803 |
| Savings and temporary cash investments | $44,690,316 |
| Pledges and grants receivable | $15,311,819 |
| Accounts receivable, net | $1,401,977 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $385,365 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $313,973 |
| Net Land, buildings, and equipment | $439,444 |
| Investments—publicly traded securities | $1,858,317 |
| Investments—other securities | $0 |
| Investments—program-related | $3,456,307 |
| Intangible assets | $0 |
| Other assets | $122,807 |
| Total assets | $95,994,128 |
| Accounts payable and accrued expenses | $3,209,909 |
| Grants payable | $0 |
| Deferred revenue | $67,608 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $7,461,376 |
| Other liabilities | $190,219 |
| Total liabilities | $10,929,112 |
| Net assets without donor restrictions | $48,839,819 |
| Net assets with donor restrictions | $36,225,197 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $95,994,128 |
Grants Awarded
Over the last fiscal year, Social Finance Inc has awarded $1,210,750 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Bronx, NY PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $506,000 |
Washington, DC PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $190,000 |
Washington, DC PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $115,000 |
Downers Grove, IL PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $70,000 |
MED CERTS LLC PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $67,000 |
San Jose, CA PURPOSE: SUPPORT SFI IN ITS WORK TO EXPAND THE AVAILABILITY OF CERTIFICATE AND OTHER TRAINING PROGRAMS FOR LOW-INCOME PEOPLE IN DIVERSE US GEOGRAPHIES. | $59,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Social Finance Inc has recieved totaling $2,976,333.
| Awarding Organization | Amount |
|---|---|
Doris Duke Charitable Foundation Inc New York, NY PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT FOR THE DEVELOPMENT AND LAUNCH OF PAY FOR SUCCESS PROJECTS THAT ADVANCE POSITIVE OUTCOMES FOR CHILDREN, FAMILIES, AND COMMUNITIES AND DELIVER ENERGY EFFICIENCY RETROFIT SOLUTIONS | $500,000 |
Omidyar Network Fund Inc Redwood City, CA PURPOSE: GENERAL OPERATING SUPPORT | $500,000 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA PURPOSE: A PROJECT TO REDUCE POVERTY WITH INCOME SHARING AGREEMENTS | $333,333 |
Tides Foundation San Francisco, CA PURPOSE: QUALITY EDUCATION | $300,000 |
Shapiro Foundation Needham, MA PURPOSE: DOMESTIC NEEDS | $250,000 |
New Hampshire Charitable Foundation Concord, NH PURPOSE: For economic mobility for underserved students | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Social Finance Inc Boston, MA | $95,994,128 | $81,693,226 |
New York Womens Foundation New York, NY | $31,744,630 | $15,820,113 |
Fund For The Aged Inc New York, NY | $109,939,296 | $8,972,478 |
Sdsn Association Inc New York, NY | $10,017,542 | $13,246,367 |
Greater Ridgewood Youth Council Inc Ridgewood, NY | $6,525,051 | $8,713,714 |
Glasswing International Usa Inc New York, NY | $37,699,055 | $11,179,883 |
The Samberg Family Foundation Katonah, NY | $0 | $4,486,499 |
Single Stop Usa Inc New York, NY | $4,715,111 | $5,987,742 |
Malchus Foundation Brooklyn, NY | $24,956,883 | $30,497,983 |
The Disability Fund Inc Rockville Centre, NY | $63,283,408 | $4,939,746 |
Barrier Free Living Holding Inc Bronx, NY | $3,190,190 | $5,409,124 |
The Viscardi Center Inc Albertson, NY | $40,315,327 | $5,189,611 |