Social Capital Fund

Analysis

Social Capital Fund is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in November 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Social Capital Fund reported income of $985k and spending of $2.0m, spending 198% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $349k to $985k (+182%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 70%. Over the whole period it spent 272% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Social Capital Fund sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within RI. Charities of a similar size with the same main cause include Truman Lake Community Foundation ($985k), African Childrens Schools ($986k) and Grant County Community Foundation Inc ($984k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 96% of the total. At year end it held assets of $1.9m against liabilities of $8.8m, net assets of -$6.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.