Social Capital Inc

Analysis

Social Capital Inc is a registered charity in United States, based in Woburn, MA. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Social Capital Inc reported income of $967k and spending of $918k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $597k to $967k (+62%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 87%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Social Capital Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include Whitely Neighborhood Council Inc ($967k), Abilene Improvement Corporation ($967k) and City Wide Neighborhood Development Corporation ($966k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $81k (8.8% of expenses). Other salaries and wages came to $327k. At year end it held assets of $240k against liabilities of $87k, net assets of $153k. It reported 30 employees.