Social Finance Inc

Analysis

Social Finance Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Social Finance Inc reported income of $39.2m and spending of $31.6m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $23.7m to $39.2m (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 414%. Over the whole period it spent 43% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Social Finance Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Trustees of the Masonic Hall and Asylum Fund ($39.2m), The Highlands at Wyomissing ($39.2m) and River Bend Food Reservoir ($39.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $2.2m (6.9% of expenses). Other salaries and wages came to $14.7m. At year end it held assets of $158.2m against liabilities of $21.0m, net assets of $137.2m. It reported 144 employees.